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AI is Redefining the Light Rail Market, Revenue to Grow by USD 3.74 Billion from 2024-2028 Due to Urban Expansion – Technavio Report

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NEW YORK, Sept. 13, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global light rail market  size is estimated to grow by USD 3.74 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  4.1%  during the forecast period.  Rapid growth of urban areas is driving market growth, with a trend towards high investment by governments in light rail. However, volatility in prices of raw materials  poses a challenge. Key market players include ALSTOM SA, CRRC Corp. Ltd., General Electric Co., Hitachi Ltd., Hyundai Heavy Industries Group, Kawasaki Heavy Industries Ltd., Kintetsu Group Holdings Co. Ltd., Knorr Bremse AG, Mitsubishi Heavy Industries Ltd., Mott MacDonald, Parsons Corp., Pesa Group, Samvardhana Motherson International Ltd., Schunk GmbH, Siemens AG, Stadler Rail Ag, SYSTRA SA, Thales Group, WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP., and WSP Global Inc..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Type (High capacity light rail and Low capacity light rail), Application (Intra-city transport and Inter-city transport), and Geography (Europe, APAC, North America, Middle East and Africa, and South America)

Region Covered

Europe, APAC, North America, Middle East and Africa, and South America

Key companies profiled

ALSTOM SA, CRRC Corp. Ltd., General Electric Co., Hitachi Ltd., Hyundai Heavy Industries Group, Kawasaki Heavy Industries Ltd., Kintetsu Group Holdings Co. Ltd., Knorr Bremse AG, Mitsubishi Heavy Industries Ltd., Mott MacDonald, Parsons Corp., Pesa Group, Samvardhana Motherson International Ltd., Schunk GmbH, Siemens AG, Stadler Rail Ag, SYSTRA SA, Thales Group, WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP., and WSP Global Inc.

Key Market Trends Fueling Growth

The light rail market is experiencing significant growth due to increased government investment in this sustainable and efficient public transit solution. With urban populations growing and cities facing congestion and environmental concerns, governments are turning to light rail as an answer. In May 2023, the Biden-Harris administration allocated over USD700 million in grants to modernize six US transit systems’ passenger railcars. This funding not only expands existing networks but also initiates new light rail projects in cities previously relying on buses or personal vehicles. The influx of public funds stimulates demand for rail infrastructure, rolling stock, and related technologies, creating a positive ripple effect. Additionally, these projects are often part of broader urban renewal initiatives, fostering economic development along rail corridors. The commitment to light rail also aligns with global efforts to decrease carbon emissions and enhance urban air quality. As a result, the light rail market is thriving, with manufacturers, construction firms, and technology providers all benefiting from this trend. Government investment is predicted to continue fueling market expansion throughout the forecast period. 

The Light Rail Market is experiencing significant growth due to increasing demand for energy-efficient, sustainable transportation in urban areas. Public transport is becoming a priority as traffic congestion continues to be a challenge. Refurbishment of existing rolling stock, including axles, wheelsets, traction motors, pantographs, and passenger information systems, is driving industrial activity. Mining and freight industries also utilize light rail for transportation. Shared mobility solutions are trending, with higher capacity, low-floor vehicles offering a better passenger experience. Sustainable mobility initiatives, such as electrification and carbon emissions reduction, are key factors. Smart technologies like mobile ticketing, real-time information, IoT sensors, automatic collision avoidance, and video surveillance enhance the passenger experience. Light rail vehicles serve both passenger and freight transportation on dedicated tracks, making them a viable alternative to heavy rail systems and metro systems. 

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Market Challenges

The global light rail market faces challenges due to the volatility in raw material prices, particularly for essential components like steel, aluminum, and cast iron. This price instability can negatively impact market growth as it increases production costs, which may be passed on to consumers. Raw material prices fluctuate based on market demand and supply, currency fluctuations, and geopolitical tensions. For instance, the price of iron ore, a key component, has risen due to high demand and supply shortages, reaching approximately USD120 per dry metric ton unit (dmtu) in May 2024, up from approximately USD104 per dmtu in May 2023. The ongoing conflict between Russia and Ukraine has caused aluminum prices to grow, adding to the market uncertainty. These price fluctuations directly impact the cost of light rails and affect the profit margins of stakeholders in the value chain. Import and export tariffs also vary by region, complicating the pricing structure of raw materials and posing challenges to the growth of the global light rail market.The Light Rail Market is experiencing significant growth in urban transportation, particularly for passenger services. Challenges include supplying both lower and higher capacity vehicles for different demand levels. Dedicated tracks are essential for efficient operation, but infrastructure costs can be high. Sustainable transportation is a priority, with electrification and carbon emissions reduction key considerations. Rapid transit via light rail vehicles offers a more sustainable alternative to heavy rail systems and freight transportation. Urban areas benefit from improved public transportation, with a focus on passenger experience. Mobile ticketing, real-time information, and smart technologies enhance the user experience. IoT sensors, automatic collision avoidance, and video surveillance contribute to safety and reliability. Light rail vehicles come in various configurations, including low-floor and high-floor designs, for easy access and interconnecting cities. The market faces competition from other transportation services, including metro systems and long-distance routes. The market requires continuous innovation, including advancements in passenger capacity, electrification, and smart technologies to meet the evolving needs of urban transportation. Rail supply must adapt to these demands while maintaining cost-effectiveness.

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Segment Overview 

This light rail market report extensively covers market segmentation by

Type 1.1 High capacity light rail1.2 Low capacity light railApplication 2.1 Intra-city transport2.2 Inter-city transportGeography 3.1 Europe3.2 APAC3.3 North America3.4 Middle East and Africa3.5 South America

1.1 High capacity light rail-  The light rail market is a significant segment of the public transportation industry. It offers an efficient, cost-effective, and eco-friendly alternative to traditional bus and car commuting. Light rail systems connect urban areas, reducing traffic congestion and promoting sustainable urban development. These systems are reliable, frequent, and convenient, making them a popular choice for commuters. The market is expected to grow due to increasing urbanization and government investments in public transportation infrastructure. Companies like Bombardier, Siemens, and Alstom dominate the market with their innovative solutions and strong customer base.

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Research Analysis

The light rail market is experiencing significant growth as public transport becomes an increasingly important solution to traffic congestion in urban areas. Light rail systems offer energy-efficient transport options, reducing carbon emissions and contributing to sustainable urban transportation. Industrial activity and mining sectors are major consumers of light rail transportation services due to the need for heavy cargo movement. Refurbishment of existing rolling stock is a key trend in the market, extending the life of existing assets and reducing the need for new purchases. Light rail vehicles come in various capacities, including lower and higher floor models, catering to inner city and interconnecting cities’ transportation needs. Components such as pantographs, axles, wheelsets, traction motors, passenger information systems, and air conditioning systems are essential for the efficient operation of light rail vehicles. Dedicated tracks distinguish light rail from other transportation modes, providing a smoother and faster ride. Metro systems and heavy rail systems are different from light rail, with the latter offering more flexibility in route design and lower infrastructure costs. Shared mobility solutions are also integrating with light rail systems, enhancing urban transportation options and promoting sustainable transportation.

Market Research Overview

The Light Rail Market is experiencing significant growth due to the increasing demand for energy-efficient and sustainable transportation solutions in urban areas. Traffic congestion is a major challenge in many cities, making public transport an attractive alternative. Light rail systems, also known as trams or streetcars, offer a viable solution with their dedicated tracks and ability to carry both passengers and freight. Refurbishment of existing rolling stock is a key industrial activity in the light rail market. Components such as pantographs, axles, wheelsets, traction motors, passenger information systems, and air conditioning systems are regularly upgraded to improve efficiency and passenger experience. The light rail market caters to both passenger and freight transportation needs. Rapid transit systems, metro systems, and heavy rail systems are all part of this market. Sustainable transportation is a major focus, with a reduction in carbon emissions being a key goal. Smart technologies such as mobile ticketing, real-time information, IoT sensors, automatic collision avoidance, and video surveillance are increasingly being integrated into light rail vehicles to enhance the passenger experience. The market also offers both lower and higher capacity vehicles, as well as low-floor and high-floor options, to cater to different transportation demands. The light rail market serves both inner city and interconnecting cities, making it an essential part of urban transportation infrastructure. The market is expected to continue growing as the demand for transportation services increases and the need for sustainable mobility solutions becomes more pressing. Rail supply companies are investing heavily in research and development to meet the evolving needs of the market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeHigh Capacity Light RailLow Capacity Light RailApplicationIntra-city TransportInter-city TransportGeographyEuropeAPACNorth AmericaMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Viettel Group and Vietnam’s Government Cipher Committee Unveil Security Chip Embedding Vietnamese Cryptography in Silicon

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HANOI, Vietnam, Nov. 3, 2026 /PRNewswire/ — Vietnam’s Government Cipher Committee and Viettel Group have unveiled VGC v1.0, a security chip integrating a domestically developed cryptographic algorithm directly into silicon, alongside the country’s first domestically designed secure semiconductor platform.

The project addresses concerns over potential data exposure associated with reliance on imported chips. By embedding cryptographic functions directly into hardware, Vietnam’s Government Cipher Committee and Viettel Group aim to strengthen Vietnam’s control over the design and verification of technologies used to protect sensitive information.

VGC v1.0 contains 300 million transistors in a 10 × 10 mm package and is fabricated using a 28-nanometre CMOS process. In performance tests, it performed encryption and decryption approximately 15 times faster than a software-only solution carrying out the same tasks. The first batch passed technical tests and received certification for socio-economic applications in the first quarter of 2026. Technical safeguards were also applied to protect the design before fabrication, reducing risks of information leakage and reverse engineering.

The Government Cipher Committee’s M2 unit established security requirements, developed the cryptographic algorithm and defined evaluation criteria, while Viettel Semiconductor Center designed and implemented the chip. Based on the open RISC-V instruction set architecture, the underlying platform enables Vietnamese engineers to modify processor designs and reuse established verification processes for future chip generations.

VGC v1.0 has already seen initial deployment in secure USB storage devices for Party, government and defence agencies. Planned applications include supporting Vietnam’s national digital signature certification system, which has more than two million digital certificates in circulation. Other potential uses span financial data protection, connected cameras and sensors, and critical infrastructure systems in electricity, water, oil and gas, and telecommunications. Products intended to protect state secrets would require further testing and certification under applicable standards.

“Researching, designing and developing secure semiconductor chips is a formidable challenge, requiring years of accumulated expertise, technological capabilities and highly skilled talent. Yet we believe that starting later does not mean accepting dependence on others. With the right strategy, focused resources and sustained commitment, we can steadily close the gap and move towards mastering technologies of strategic importance to our country,” said Lieutenant General Tao Duc Thang, Chairman and CEO of Viettel Group.

At the launch, the Vietnam’s Government Cipher Committee and Viettel Group signed an agreement covering plans for volume production, multicore security chips, specialist workforce development and testing on real devices. Viettel is also building a semiconductor fabrication plant in Hoa Lac as part of broader efforts to develop domestic capabilities across chip design, manufacturing and packaging.

Beyond the initial chip, the initiative establishes a foundation for future generations of security hardware, supporting Vietnam’s long-term efforts to reduce technological dependence and strengthen control over critical digital technologies.

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SOURCE Viettel Group

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USDGO Plus SP Among First Products on OSL’s Instant Redemption

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Eligible professional investors redeeming units of USDGO Plus SP through OSL may receive redemption proceeds on the same day, subject to OSL’s eligibility criteria and applicable terms and conditions

HONG KONG, Nov. 3, 2026 /PRNewswire/ — Units of PrimePlus SPC – USDGO Plus SP held via OSL are included in the initial batch of products covered by Instant Redemption, a feature OSL Group announced on 2 November 2026 for tokenised real-world asset (RWA) products on its licensed platform.

Eligible professional investors redeeming designated products through OSL may receive their redemption proceeds on the same day, subject to OSL’s eligibility criteria, product coverage and applicable terms and conditions. Designated products may also be subscribed for and redeemed in USDGO.

USDGO Plus SP is a segregated portfolio of PrimePlus SPC, a Cayman Islands segregated portfolio company registered with CIMA as a mutual fund. Under the co-operation framework of 2WA and OSL, fund units stay in custody via OSL, 2WA does not custody client fund units, and Instant Redemption is an OSL platform feature*.

OSL continues to provide custody and distribution for USDGO Plus SP. Instant Redemption does not change the fund’s redemption terms, registration status, offering documents, risk disclosures or investor eligibility requirements.

*Instant Redemption is only available to investors on the OSL platform who qualify as professional investors.

About 2WA

2WA is a real-world asset (RWA) and digital asset technology development company focused on expanding the utility of regulated assets. 2WA applies blockchain technology, including tokenization, to broaden how regulated assets such as fund units and listed equities are held, used and mobilized. Throughout, the underlying assets remain with licensed custodians. 2WA’s objective is to create new use cases for these assets and, in doing so, enhance their overall value for investors and institutions.

USDGO sits at the core of 2WA’s business. As an active contributor to the USDGO ecosystem, 2WA uses USDGO as the primary settlement and liquidity asset across its RWA products, and works alongside partners to broaden its adoption, deepen its liquidity and support the long-term growth of its ecosystem. For more information, visit https://2wa.io

About OSL

OSL Group (HKEX: 863) is a global stablecoin infrastructure company that strives to provide compliant and efficient digital financial infrastructure services globally, empowering enterprises, financial institutions and individuals to seamlessly exchange, pay, trade, and settle between fiat and digital currencies. Grounded in the core values of Open, Secure, and Liquid, it is committed to building a more efficient ecosystem that connects global markets and enables instant, seamless and compliant value movement worldwide. For media inquiries, please contact: media@osl.com

Media contacts

2WA: media@2wa.io
OSL: media@osl.com

Disclaimer

This press release is for information purposes only. It does not constitute an offer, solicitation, recommendation or inducement to buy, sell or otherwise deal in any digital asset, security or other financial product, and it is not financial, investment, legal, tax, accounting or other professional advice and should not be relied on as such. Views expressed do not necessarily reflect the official positions of OSL Group or its affiliates. Descriptions of products and services are for general reference only, and participation is subject to applicable terms, conditions and regulatory requirements. This press release may contain forward-looking or indicative information; actual outcomes may differ materially, and none of OSL Group, 2WA, PrimePlus SPC or their respective affiliates undertakes any obligation to update it.

USDGO Plus SP has not been authorised by the Securities and Futures Commission under section 104 of the Securities and Futures Ordinance (Cap. 571) (SFO), and its offering documents have not been reviewed by any regulatory authority in Hong Kong. Interests in USDGO Plus SP may be offered in Hong Kong only to professional investors, and only on the basis of the fund’s offering documents. Investing in digital asset funds involves significant risks, including the possible loss of the entire amount invested. Market-neutral strategies do not eliminate risk, and funding rates may turn negative. Past performance is not indicative of future results.

Instant Redemption is a feature of OSL’s platform. Its availability is subject to OSL’s eligibility criteria, limits and platform terms, and may be changed, suspended or withdrawn at any time. It does not amend the redemption terms of USDGO Plus SP and is not a guarantee of liquidity or of the return of any amount invested.

This press release is intended only for “professional investors” as defined in the SFO and its subsidiary legislation, must not be distributed or used in any jurisdiction where doing so would breach applicable laws, and does not constitute active marketing to the public in Hong Kong. Readers are responsible for complying with the laws of their own jurisdiction. The stablecoins referred to in this press release may be “specified stablecoins” under the Stablecoin Ordinance (Cap. 656); their issuers and OSL Digital Securities Limited (OSLDS) are not licensed under that Ordinance to conduct regulated stablecoin activities in Hong Kong. OSLDS is a permitted offeror under that Ordinance and offers such products in Hong Kong only to clients it has verified and accepted as professional investors.

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SOURCE 2WA

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THE KOREA INDUSTRY DAILY: ROBOTWORLD 2026 to Spotlight Physical AI and AI-Driven Manufacturing With 402 Exhibitors From 17 Countries

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Rainbow Robotics, Neuromeka and Samhyun to exhibit Nov. 4–7 near Seoul; NVIDIA and Qualcomm to participate in conference

GOYANG, South Korea, Nov. 3, 2026 /PRNewswire/ — ROBOTWORLD 2026 will bring together 402 companies from 17 countries at the Korea International Exhibition Center (KINTEX) Nov. 4–7. The 1,198-booth exhibition will explore how Physical AI and AI-driven manufacturing systems are being developed for industrial applications.

International exhibitors will include Taiwan’s Advantech, Japan’s FANUC and China’s Booster Robotics, PAXINI and Unitree. A Canadian delegation of 10 technology companies will participate in the exhibition and conference, while companies from India and Bangladesh will exhibit at ROBOTWORLD for the first time.

The International Robot Business Conference 2026 will extend the discussion of industrial applications through 36 sessions on Nov. 4–5. Its three tracks — Manufacturing AX (AI transformation), Humanoid with Physical AI and Mobility — will address AI adoption in production, robot intelligence and mobility across industrial and service environments. The Manufacturing AX track will feature presentations by representatives from Qualcomm and Advantech, while a speaker from NVIDIA will present in the Humanoid with Physical AI track. Qualcomm will also sponsor the exhibition.

According to the International Federation of Robotics’ World Robotics 2026 report, global industrial robot installations reached a record 603,307 units in 2025, marking an 11% increase from the previous year and surpassing 600,000 units for the first time. Asia accounted for 76% of all newly installed industrial robots, with 457,315 units installed, up 14% year-on-year. Global installations are forecast to reach 655,000 units in 2026, reflecting the continued expansion of industrial automation.

Against this industrial backdrop, the exhibition will explore Physical AI technologies that enable robots to perceive their surroundings, assess conditions and perform physical tasks. Korean exhibitors will address both task intelligence and the platforms and components that enable movement and manipulation.

Rainbow Robotics will exhibit its RBY mobile humanoid and RBQ quadruped series, while Neuromeka will present its Physical Skill Foundation (PSF) technology alongside the EIR humanoid and NAMI mobile humanoid platforms. Neuromeka describes PSF as supporting task execution involving unfamiliar objects and changing work environments. Samhyun will showcase its AXLON actuator series for robot joint actuation, torque control and linear motion, together with the BOLDUM autonomous transport robot for industrial material handling with payloads of up to 3 metric tons.

Beyond individual robots, the exhibition will examine AI-driven manufacturing through systems that combine collaborative robots, autonomous mobile robots (AMRs), machine vision and manufacturing software. Exhibitors will demonstrate how process data and material flows can inform robot and equipment operations across production processes.

Humanoid, food-tech and healthcare pavilions will provide focused views of these technologies and their applications. The newly established humanoid pavilion will cover complete robots, actuators, reducers, sensors, controllers and AI software. The food-tech pavilion will feature cooking, serving and kitchen automation. The returning healthcare pavilion will cover surgical, rehabilitation, wearable and care robots, as well as hospital logistics.

Business programs will connect the technology presentations with opportunities for procurement, exports and investment. Export and procurement matchmaking sessions will run Nov. 4–6, with suppliers and prospective buyers matched in advance for one-to-one meetings. A seminar on entering international markets will be held on Nov.5 providing practical information on certification requirements in different countries.

Global Scale-up Day on Nov. 6 will be open to small and medium-sized enterprises as well as startups in AI and robotics seeking investment and growth capital. Conducted entirely in English, the program will bring together venture capital firms, accelerators, strategic investors and M&A specialists.

“With increased participation by global companies and the addition of national and special pavilions, we hope this year’s exhibition will showcase the capabilities of Korean robotics companies and expand opportunities for practical cooperation between Korean and international businesses,” a ROBOTWORLD representative said.

ROBOTWORLD 2026 will take place at KINTEX Exhibition Center 1, Halls 3–5, in Goyang. Information on exhibitors, conference sessions and business programs are available at https://eng.robotworld.or.kr/.

About ROBOTWORLD

ROBOTWORLD is an international robotics exhibition covering industrial and service robots, core components, AI software and manufacturing automation solutions, alongside a conference and business programs. ROBOTWORLD 2026 is hosted by South Korea’s Ministry of Trade, Industry and Resources (MOTIR) and jointly organized by the Korea Association of AI Robot Industry (KAR), the Korea Institute for Robot Industry Advancement (KIRIA) and the Institute of Control, Robotics and Systems (ICROS).

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SOURCE THE KOREA INDUSTRY DAILY

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