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Growth in Passenger & Freight Traffic will boost IT Spending in Railways thru’2020: Technavio
Technavio analysts forecast the global information technology (IT) spending in railways market to grow at a CAGR of close to 16% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global IT spending in railways market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top five vendors operating in the market.
Technavio ICT analysts highlight the following four factors that are contributing to the growth of the global IT spending in railways market:
- Need to improve efficiency and reduce cost
- Growth in passenger and freight traffic
- Enhance passenger experience
- Need to improve overall security
- Need to improve efficiency and reduce cost
Read More: Rail News
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