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Rail asset management industry growth has resulted from modern technology, the expansion of the tourism industry, and the adoption of high-tech innovations. Economic growth in Australia, Singapore, Korea, China, Hong Kong, and India also drives market expansion. Asia Pacific region dominates the rail asset management market with a 50% market revenue share in 2022.

Newark, April 24, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 10.2 billionrail asset management market will reach USD 18.4 billion by 2032. Asset management has swiftly gained popularity in the rail industry. An often complex system's main defining characteristic is a set of coordinated operations that optimize asset performance and help an organisation accomplish its objectives. It encompasses all systems, methods, and tools for maximising asset availability while minimising total cost and risk. This often necessitates complex software to collect and analyse user data to do predictive and preventative maintenance as opposed to reactive fixes.The rail industry significantly impacts a country's economic and financial status.

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Report Coverage Details

Report Coverage

Details

Forecast Period

20232032

Base Year

2022

Market Size in 2022

USD 10.2 Billion

Market Size in 2032

USD 18.4 Billion

CAGR

6.1%

No. of Pages in Report

237

Segments Covered

Deployment, Application

Drivers

Rising Government Initiatives

Opportunities

Rising Government Funding

Restraints

High Cost of Deployment

Asia Pacific to account for the largest market size during the forecast period.

Asia Pacific is expected to have the most significant rail asset management market share due to the increase in the presence of private organisations in government-administered rail markets and the inclination for low-fares and multimodal travel in this region. Furthermore, The Indian government has proposed two necessary steps to encourage private investment: private operators operating passenger trains on the Indian Railways network and renovating railway stations around the country.

Story continues

The on-premises segment dominated the market with the most significant revenue of USD 5.61 billion.

The on-premises segment dominated the market with the most significant revenue of USD 5.61 billion. On-premise software is a cloud computing system that uses specialised hardware and software systems at a company's main office to deliver services such as file storage, email, and web hosting. On-premise refers to various solutions ranging from private clouds to hybrid clouds. On-premises solutions are deployed and managed by an organisation's IT personnel; they do not require the involvement or control of a third party.

The rolling stock segment dominated the market with the most significant revenue of USD 5.71 billion.

The rolling stock segment dominated the market with the most significant market revenue of USD 5.71 billion. Owing to increased government investments across regions to replace old rolling stock fleets with updated fleets capable of running on alternative fuels and advanced rail systems such as Positive Train Control (PTC). In addition, rising passenger traffic coupled with fast urbanisation has resulted in an increased number of trains plying daily which is also predicted to drive growth throughout the forecast period.

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Latest Development:

In June 2022, Brightly Software, a renowned software-as-a-service (SaaS) provider of maintenance and asset management solutions with headquarters in the United States, reached an agreement to be acquired by Siemens Smart Infrastructure (SI), a significant provider of digital buildings. The acquisition propels SI to top the built infrastructure and construction software market. The cost of the acquisition is USD 1.57 billion.

Market Dynamics:

Drivers: Technological Advancement

Rail operations and cutting-edge information and communication technology are projected to assist the railway management system market in overcoming the above-mentioned issues. Furthermore, the need to meet industry safety regulations to deliver safe and dependable service is projected to drive market demand.

Restraint: Growing Dependability

The growing dependability on trains further strained the existing rail system. This leads to a slew of unplanned and unexpected maintenance with infrastructure and rolling stock due to system wear and tear, failures, damages, and repair needs.

Opportunity: Development of Smart Cities

The global population is expected to reach 9.8 billion by 2050, with cities housing 75% of the population. As a result, public institutions must ensure that the transportation sector, notably the rail network, is ready to meet rising connectivity demands. Furthermore, the developing smart city trend is moving the rail asset management market forward. The railway industry tremendously impacts a country's financial and economic situation. It transports billions of people and freights every day and produces significant profits. Because of the comfort and ease of transporting goods and travelling, people increasingly rely on trains, necessitating a rail asset management system to maintain rail infrastructure, providing growth opportunities for the market.

Challenge: Maintenance Expenses

Increased passenger and freight traffic, inadequate management of operating and maintenance expenses, and inefficient utilisation of rail networks all challenge market expansion.

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Some of the major players operating in the rail asset management market are:

Accenture plc Alstom SA International Business Machines Corporation (IBM) Capgemini SE Hitachi, Ltd. Cisco Systems, Inc. L&T Technology Services Limited (LTTS) Huawei Technologies Co., Ltd. SAP SE Siemens AG

Key Segments cover in the market:

By Deployment:

On-Premises Cloud

By Application:

Rolling Stock Infrastructure

About the report:

The global rail asset management market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.

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Rail Asset Management Market Size to Reach USD 18.4 Billion by 2032 - Increasing Government Investments in Rail Infrastructure & Digitization to...

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New In-Country Service Delivers Cloud-Based Passwordless Authentication That Aligns to Data Sovereignty and Compliance Requirements for Canadian-Based Companies

SANTA CLARA, Calif., April 18, 2023 /PRNewswire/ --Axiad, a leading provider of organization-wide passwordless orchestration, today announced it has further expanded internationally, delivering its flagship Axiad Cloud product that is now hosted in Canada. This expansion means that Canadian-based customers and organizations that have international operations in Canada are now able to host their authentication solution in country aligning to certain data sovereignty requirements and helping customers comply with Canada's Personal Information Protection and Electronic Documents Act (PIPEDA) and other regulations.

"For many of our Canadian customers that wish to take advantage of the extra security and cost efficiencies of a cloud-based solution for authentication, it is critical that the application and related information is hosted in country," saidYves Audebert, co-CEO of Axiad. "With this new in-country hosting capability, we are now able to support these needs giving them the benefits of our core Axiad Cloud product, including the ability to become phishing resistant, while also staying true to corporate, local, and jurisdictional requirements for data sovereignty."

Hosted on Amazon Web Services (AWS), Axiad Cloud is an industry-leading platform that delivers a holistic, consistent, and secure "no password" passwordless future that eliminates the friction and risk found in typically fragmented solutions. Axiad Cloud is made up of a full suite of modular, passwordless authentication capabilities, including Multi-Factor Authentication (MFA), Phishing-Resistant Authentication, Certificate-Based Authentication for IAM, Passwordless Orchestration, and PKI as a Service.

Axiad's new service will be hosted only in Canadian-based AWS facilities, utilizing multiple available zones to provide a comprehensive, high-availability solution. With the offering being hosted locally, Canadian customers are likely to see improved performance relative to solutions not hosted in country as well.

Today's news further underscores Axiad's investment in serving its Canadian customers. The company has managed a research and development center in country since 2019, and it also operates a service center in the nation's capital of Ottawa where it provides professional services and technical support for organizations based in Canada.

About AxiadAxiad delivers organization-wide passwordless orchestration to secure people, machines, and interactions for enterprise and public sector organizations that must optimize their cybersecurity posture while navigating underlying IT complexity. The company's flagship product, Axiad Cloud, is a comprehensive, secure, and integrated authentication platform that allows customers to move to a passwordless future without the friction and risk of fragmented solutions. Axiad supports the widest range of credentials in the industry including FIDO, mobile MFA, Windows Hello for Business, YubiKeys, smart cards, TPM and biometrics, and is trusted by public sector organizations and Fortune 500 companies across aerospace & defense, financial services, insurance, healthcare, oil & energy, and more.

For more information visitaxiad.comand follow us onTwitterandLinkedIn.

SOURCE Axiad IDS, Inc.

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Axiad Expands International Footprint With Canadian Hosting ... - PR Newswire

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BEIJING, April 24, 2023 /PRNewswire/ -- VNET Group, Inc. (Nasdaq: VNET) ("VNET" or the "Company"),a leading carrier- and cloud-neutral Internet data center services provider in China, today announced that it haspublished its 2022 Environmental, Social and Governance Report (the "2022 ESG Report"), highlighting its 2022 performance and initiatives related to sustainability, ethical business practices, digital empowerment,and social responsibility.

"In 2022, we increased our focus on building our SHIELD (Social-Human-Innovation-Environment-Leadership-Development) sustainability system and further integrating ESG concepts into every aspect of our operations," said Jeff Dong, Chief Executive Officer of VNET. "In December 2022, MSCI raised our ESG rating to 'A', which represents the highest ranking to-date in China's Internet Services & Infrastructure industry. I'm proud of how we continue to evolve our practical capabilities and programs to help promote the harmonious coexistence between the enterprise, economy, society and environment. By doing so, we are writing a new chapter in the sustainable development of the global digital economy. Going forward VNET will continue to elevate our ESG engagement and embrace our responsibility to deliver sustainable value for all stakeholders."

VNET is proud to share its commitment with stakeholders, including these highlights from the 2022 ESG Report.

To view the full 2022 ESG Report, please visit the Company's Investor Relations website at https://ir.vnet.com/or access the report athttps://www.vnet.com/en/esg.html.

About VNET

VNET Group, Inc. is a leading carrier- and cloud-neutral Internet data center services provider in China. VNET provides hosting and related services, including IDC services, cloud services, and business VPN services to improve the reliability, security, and speed of its customers' internet infrastructure. Customers may locate their servers and equipment in VNET's data centers and connect to China's internet backbone. VNET operates in more than 30 cities throughout China, servicing a diversified and loyal base of over 7,000 hosting and related enterprise customers that span numerous industries ranging from internet companies to government entities and blue-chip enterprises to small- to mid-sized enterprises.

Safe Harbor Statement

This announcement contains forward-looking statements. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "target," "believes," "estimates" and similar statements. Among other things, quotations from management in this announcement as well as VNET's strategic and operational plans contain forward-looking statements. VNET may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about VNET's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: VNET's goals and strategies; VNET's expansion plans; the expected growth of the data center services market; expectations regarding demand for, and market acceptance of, VNET's services; VNET's expectations regarding keeping and strengthening its relationships with customers; VNET's plans to invest in research and development to enhance its solution and service offerings; and general economic and business conditions in the regions where VNET provides solutions and services. Further information regarding these and other risks is included in VNET's reports filed with, or furnished to, the U.S. Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of this press release, and VNET undertakes no duty to update such information, except as required under applicable law.

Investor Relations Contact:

Xinyuan LiuTel: +86 10 8456-2121Email:[emailprotected]

SOURCE VNET Group, Inc.

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VNET Publishes 2022 Environment, Social and Governance Report - PR Newswire

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Big Tech is racing to claim its share of the generative AI market - Financial Times

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The U.S. has enjoyed superiority in military technology since the end of the Cold War. But this edge is being rapidly eroded by its main rival, China, which seems determined to become a global leader in technologies such as artificial intelligence and machine learning (AI/ML) that could potentially revolutionize warfare.

As Beijing focuses on a defense strategy for what it calls the new era, the aim is to integrate these innovations into the Peoples Liberation Army, creating a world-class force that offsets U.S. conventional military supremacy in the Indo-Pacific and tilts the balance of power.

How important AI has become for Chinas national security and military ambitions was highlighted by President Xi Jinping during the 20th Party Congress last October, where he emphasized Beijings commitment to AI development and intelligent warfare a reference to AI-enabled military systems.

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The next arms race: China leverages AI for edge in future wars - The Japan Times

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