Railway Telematics Market Analysis Report By Solution, By Railcar, By Component Type And Segment Forecasts From 2021 To 2028

Synopsis

The global railway telematics market was prized by USD 10.61 billion in 2020. It is estimated to witness 7.5% CAGR from 2021 to 2028.

Drivers

The growth in demand for the well-organized, and safe, transportation arrangement is projected to maintain enlargement of the market for railway telematics. Due to the improved telematics machinery, highly developed transportation structures are less expected to see losses, thus adding to the expansion. The growing rail cargo shipping and rising demand for the digitalization of railcar following are a few input factors, expected to steer the expansion.

Mainly, the railway telematics arrangements are put into practice by insurance companies, rail corporations and rail management companies, to check the performance and location of the railcars. Telematics resolutions follow the position and passage of a vehicle via bringing together the Global Positioning Systems (GPS) and on the train diagnostics arrangement.

The Global Positioning Systems (GPS) and diagnostics arrangement jointly can trace the railcars' inside performance, place and speed. In addition, telematics resolution present information interrelated with the safety as well as security of the vehicle.

The increasing demand for well-organized, safer, and protected, transportation arrangement and enhanced budget provision for the growth of railways are positively functioning for the market.

The assured global speed of urban development is creating approach for the smart cities. The various government establishments of the world are spending on a variety of smart city plans to make better the transport infrastructure, pushing more the growth of infrastructure actions within the public transportation segment.

Effect of Covid-19

On the other hand, throughout the first half of 2020 the imposed lockdowns due to the Covid-19 pandemic, globally, hampered the freight as well as transport actions. It harmfully affected the development of the market. Because of the spread of the Covid-19 virus, during the initial half of 2020, the market experienced a major setback. The global restrictions on trade activities, furthermore, hindered the progress of the market. But, the demand for railway telematics resolutions is likely to improve, during the nearby future.

Component Type Insight

On the basis of component type, the market is subdivided into sensors, and telematics control units. The telematics control unit section held 56.48% share of the general railway telematics market, in 2020. A telematics control unit presents resolutions for tracking and two-way control of the railcars.

The sensors section is expected to develop by 8.6% CAGR, during the forecast period. The development can be credited to the investment in the progress of smart railway infrastructure and remarkable growth in the government lead. Sensors help out in rail tracking and tracing, signaling, information collection as well as checking.

Solution Insight

The market is subdivided in to railway tracking and tracing, fleet management, remote data access, and automatic stock control plus others, on the basis of solution. The fleet management division held above 32.0% revenue share and led the market, in 2020.

The railcar tracking and tracing division is expected to increase by the maximum 8.2% CAGR during the forecast period. The development can be credited to the growth in demand for prognostic repairs of freight wagons to discover operational problems.

The industries like logistics and healthcare implement railcar tracking and tracing resolutions, to create procedure, additionally reasonably priced, by this means supporting the development projections of the division.

Railcar Insight

The market is subdivided into refrigerated boxcars, well cars, hoppers, boxcars, tank cars, plus others on the source of railcar. In 2020, the hoppers section held over 23.3% revenue share and led the market. The section is likely to add major grip and maintain supremacy, during the forecast period.

The refrigerated boxcars section is expected to develop by the maximum 8.4% CAGR, during the forecast period. The rising demand for refrigerated boxcars in diverse verticals together with food & beverage, healthcare, and chemicals, to shipping commodities is adding to the enlargement of the section. Refrigerated boxcars are developed and intended to contain fresh goods on a particular temperature.

Regional Insight

In 2020, Europe held more than 36.0% revenue share and led the global railway telematics market. For the companies like Alstom SA., Siemens AG and Knorr-Bremse AG, the region is homeland. Mainly, these companies concentrate on the collaborations, in addition to associations with rail companies in diverse nations. Such as, Alstom and Mumbai Metro Rail Corporation opened the full-scale model of the train set, designed for the Mumbai Metro Line Number 3, in November 2019.

In Asia Pacific, the market is projected to increase by the maximum 9.4% CAGR, during the forecast period. The development can be credited to existence of numerous budding markets within the region, stable expansion, increasing infiltration of sophisticated technologies, and the growing GDPs of the nations.

Besides, the entrance of some important OEMs within the region, the hopeful growth of the cargo transport business along with the logistics and rising alertness regarding the safety of the driver and accident avoidance, are the factors, likely to support the market within the region.

Companies

To increase their existence in the market and get a reasonable advantage, the companies concentrate on collaboration, acquisitions, and joint ventures. The companies further concentrate on the programs like introduction of innovative products to boost their situation in the market.

Some of the companies for railway telematics market are:

• Knorr-Bremse AG
• Hitachi Ltd.
• Robert Bosch GmbH
• Alstom SA
• Siemens AG

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2028 For this study, Million Insights has segmented the global railway telematics market report based on solution, railcar, component, and region:

• Solution Outlook (Revenue, USD Million, 2018 - 2028)
    • Fleet Management
    • Automatic Stock Control
    • Remote Data Access
    • Railcar Tracking and Tracing
    • Others

• Railcar Outlook (Revenue, USD Million, 2018 - 2028)
    • Hoppers
    • Tank Cars
    • Well Cars
    • Boxcars
    • Refrigerated Boxcars
    • Others

• Component Type Outlook (Revenue, USD Million, 2018 - 2028)
    • Telematics Control Unit
    • Sensors

• Regional Outlook (Revenue, USD Million, 2018 - 2028)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
        • France
    • Asia Pacific
        • China
        • Japan
        • India
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa