Top Five Trends That Will Shape The Global Rail Industry In 2019

Amidst growing competition and changing passenger expectation, global rail companies must embrace digital technologies. That will enable them to have a clear view of the challenges and opportunities in the industry. Spin Palace casino has also embraced innovative technologies to improve the users’ gaming experience and match their expectations.
Here are the top five trends that will improve the reliability and availability of the global rail sector while optimizing operational and maintenance costs in 2019.

    1. Increased  M&As To Improve Industry Consolidation
Consolidation remains the main tactic in the rail industry, and last year saw some major developments. Japan’s multinational Hitachi who already owned 50.77% share capital in Ansaldo STS – Italian rail transport service provider- bought 31.79% more of its share capital to take their total stake to 82.56% in November.
The increasing rate and scale of such deals show that the railway industry is set for more consolidation. In the fragmented industry, companies have realized that their general innovation and business interest can be successfully promoted.

    2. Increased Focus On Digitalization
Digitalization has become a key driver for innovation in the rail industry. It offers significant opportunities for streamlining operations, enhancing customer experience, and improving assets reliability while cutting costs. It’s also a key factor in enabling predictive maintenance of rolling stock and fixed assets while deriving real-time information on rail movement.
The adoption of AR/VR and IoT (Internet of Things) is also providing powerful insights on asset management and performance. Such technologies haven’t been largely adopted in yesteryears, but they will be on the rise in 2019. The potential applications include real-time incident alarms, advanced passenger information systems, and preventive maintenance.

    3. Shift In Expenditure Patterns In The APAC Region
The increasing urbanization and high population in the APAC (Asia Pacific) region have led to a growth in the demand for expansion of existing rail. The railway is the third largest segment in the region, recording the highest growth in online travel booking for 2017.
Global rail companies need to observe that the Asia Pacific governments are making big budget investments for the next two decades. China approved a budget of $15.7 billion for urban railway projects in Jilin province. India also increased their focus on metro rail connectivity, approving projects valued at Rs 1.07 lakh crore. With such opportunities, OEMs and technical service providers will focus on these regions in the coming years.

    4. Uk-EU Brexit Impact
Though the UK’s position in the EU hasn’t changed, there could be analytical impacts on the British economy when they finally exit. The railway generated £8.8 billion in 2014-2015, owing to immigrants and tourists coming from the EU. This growth in the number of travellers facilitated high investments in high-speed lines, commuter rails, and metros. As such, the UK exit in the EU will highly affect revenue generation as it will restrict the free movement of tourists.

    5. Cyber-Security To Take Center-Stage
The B-side of railway digitalization is the associated risks and exposure to weaknesses that emerge while bridging the legal ecosystem with new technologies. As boundaries between different segments of railways continue getting thin with an increase in digital tools, the threat landscape is expanding.
Rail companies must thoroughly assess all components of the digital infrastructure which the network relies on. They’ll need to partner with the right cyber-security experts to identify and prevent hacking and boost passenger safety. Security protocols will have to be regularly updated to stay two steps ahead of the malicious attacks.