With its massive investment in rolling stock, infrastructure, real-estate and facilities, the railway industry is unlike any other. Increased competition due to low-cost air and bus carriers, and deregulation1 in Europe have brought significant complications to European railways and rail infrastructure operating organizations. They are now challenged to:
- Provide uninterrupted and safe operations and services at all times
- Increase asset performance and reducing risks with an aging workforce and infrastructure
- Manage cost pressure and budget constraints
- Prepare for upcoming technologies like battery-powered trains particularly within cities as well as self-driving trains
- Prepare for new business models and great customer experience
A recent analysis by Markets & Markets2 suggests that railway companies focus their investments to reduce operation and maintenance cost, and invest in innovation through monitoring. They should also invest in IoT for predictive maintenance analytics.
Some railways are employing IoT and AI to innovate and improve operations
In order to remain competitive and successful, railway organizations can take specific actions:
- Invest in efficient technologies
- Deploy IoT for data and predictive analytics for rolling stock and infrastructure
- Deliver intelligent asset health monitoring, management and optimization
- Deliver new client experiences
For example, French railway SNCF accelerated innovation using IoT data for predictive maintenance.
Canadian National Railway saved millions of dollars and kept trains on time by speeding up analytics.
Apply for a complimentary ticket to European Maximo Railway Summit
If you’re in the railway industry and face similar challenges, the following event has to be on your schedule:
European Maximo Railway Summit 2019
hosted by Slovenian Railways
9-10 October 2019
1 EU-directive 2016/2370 of the European Parliament and Council) and technological changes like the adoption of the European Train Control System (ETCS)
2 Rolling Stock Management Market – Global Forecast to 2025, Markets and Markets, March 2019