Railway Signalling System Market Size, Share, Growth Analysis, By Technology Type(Automatic Train Protection (ATP) System, Positive Train Control (PTC) System, Communication-Based Train Control (CBTC) System, Automatic Train Operation (ATO) System), By Application Type(Inside the Station, Outside the Station), By Region - Industry Forecast 2024-2031

Global Railway Signalling System Market size was valued at USD 12.8 billion in 2019 and is poised to grow from USD 13.5 billion in 2023 to USD 21.86 billion by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).

One of the most important parts of the various systems that make up the overall railway system is the signal. In order to decrease the number of accidents, this technique is employed to maintain rail traffic and keep the rail lines clean for other trains. Due to the growing number of rail commuters, the adoption of data analytics, the internet of things, cloud computing, and other cutting-edge technologies that bring digital transformation to the railway industry, numerous signalling and train control communication systems have been evolving over time.

To update the signalling systems all throughout India, for instance, the Indian Railways aims to install a new signalling system project. The Automatic Train Protection (ATP) system, which assists in maintaining the permitted speed limits without the driver's intervention, and a 4G-based mobile train radio communication system (MTRC), which is used for emergency communications, are just two examples of cutting-edge technologies that have been implemented as part of the signalling system's modernization.

US Railway Signalling System Market is poised to grow at a sustainable CAGR for the next forecast year.