The Railway Telematics Market was valued at USD 5.1 billion in 2021 and projected to reach USD 7.3 billion by 2026, growing at a CAGR of 7.5% from during the forecast period. The future of the freight rail industry is expected to rely on smart digital transportation systems that leverage technologies over larger railcar networks. New technologies such as integrated service management, asset management, and predictive analytics, shock detection, and automatic stock control are expected to help rail management companies manage optimal routes, schedules, capacities, and idle railcars in near real-time. Due to the increasing presence of smart technologies in rail transportation, the associated solutions and services markets are also expected to grow at high rates, globally. Emerging technologies such as refrigerated wagon management, estimated time of arrival of railcars are expected to enable efficient and better freight rail transportation. This is also expected to improve timely decision-making for issues such as asset deployment, utilization, and railcar maintenance.
Railcar tracking & tracing is estimated to hold the largest market share by solution during the forecast period
The railcar tracking & tracing solution is projected to lead the market during the forecast period. The segment is driven by the demand for freight wagon operations and maintenance. Railcar operators need to monitor the progress of transport using intermodal systems, complying with safety and maintenance regulations, and ensuring that wagons are reliable and available and are able to meet the high personnel costs. If control and implementation are insufficient, productivity may decrease, further aggravating cost pressures. To increase the economic efficiency of individual processes, the railcar tracking & tracing solution is adopted in the industry.
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TCU segment is estimated to be the largest segment by range during the forecast period
The telematics control unit provides solutions for two-way tracking and control of railcars. The TCU provides complete and integrated fleet monitoring solutions for transportation and logistics, enabling the real-time visibility and control of transport assets as they move across the supply chain. The introduction of advanced TCUs is offering improved operational efficiency, increased profitability, predictive maintenance, and safety. These advantages are leading to the growth of the TCU railway telematics market which is dominating and also growing at the higher CAGR.
The APAC is projected to be the fastest-growing in the railway telematics market
The APAC is projected to be the fastest-growing railway telematics market due to the increasing penetration of advanced technologies, increasing GDPs of countries, steady growth, and emerging economies. The APAC region covers some of the potential markets, namely, China, India, Japan, and Rest of Asia Pacific. China is expected to lead the market followed by India, Japan, and Rest of Asia Pacific in terms of share and growth rate among all countries during the forecast period.
The APAC region is expected to offer significant growth opportunities due to the untapped market strength. Increasing awareness about driver safety and accident prevention, presence of leading OEM players, growing freight transportation and logistics industries, advent of the 4G LTE technology, and the adoption of smart railcars in North America and Europe due to the availability of embedded OEM telematics solutions are leading to market growth. The logistics sectors in India and China are on the cusp of disruption. Robust economic growth and technology improvements have led to significant developments. Despite significant country-specific trends and nuances, the underlying themes of economic growth, digital disruption and changing customer preferences prevail. These powerful themes are expected to shape the future of the logistics industry over the next few years. Based on reliable on-line telematics data, dispatchers will be able to inform their customers about changes in transport schedules earlier than is possible presently, increasing reliability and satisfying stakeholders, thus driving growth.
Key Market Players:
The report analyzes all major players in the railway telematics market including Hitachi Ltd. (Japan), Siemens (Germany), Bosch (Germany), Knorr-Bremse (Germany), and Alstom (France).
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