PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1209837
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1209837
Railway Telematics Market Forecasts to 2028 - Global Analysis By Solution, Component Type, Railcar and By Geography
According to Stratistics MRC, the Global Railway Telematics Market is accounted for $5.5 billion in 2022 and is expected to reach $9.6 billion by 2028 growing at a CAGR of 9.7% during the forecast period. Telematics is the procedure of using a global positioning system (GPS) and on-board diagnostics devices to track a vehicle's location and movement. It is possible to record the speed and internal behaviour of automobiles using GPS and diagnostics systems. Railway telematics refer to the use of telematics systems in railways by train operator companies, insurance companies, and other service providers. By using communication-enabled devices, telematics systems can store, receive, and send information, which can be used to control remote objects and manage resources.
Market Dynamics:
Driver:
Improved safety and efficiency in railway operations
The need for telematics in shipment and cargo transportation by rail has increased. The rail industry is undergoing continuous changes in terms of technology for higher efficiency and safety. Moreover, with the deployment of autonomous trains, it is easy to add a new train in the system or to remove a new train from the system without affecting the system and without waiting for train or staff availability. Thus, availability of trains during off peak and night hours is possible due to increase in flexibility. Thus, trains are more safe, secure, flexible, and efficient as compared to traditional manually operated trains, which drive the market growth.
Restraint:
High development cost
The telematics system also requires high maintenance and data collection platforms, which increases the expenditure. In the traditional method, the expenses are compensated either through tax payments in fuel or rubber or by budget allocations from the national income. High operational and maintenance costs post deployment are also significant concern for railway authorities. Moreover, the limited budget allocated for the railways are a restraining factor in the deployment of advanced railway technologies.
Opportunity:
Government initiatives for smart railways
Increasing urbanization across the globe is resulting in the evolution of smart cities. Governments around the world are undertaking various smart city initiatives to provide better transportation infrastructure and speeding-up operational activities in public transportation services. Transportation is considered one of the most important pillars of a country's economic development, and hence, these smart city initiatives are expected to drive market growth.
Threat:
High possibilities of hacking the system
Trains equipped with advanced system requires active internet to regulate its operations by transmitting and receiving signals with the control station. Hence, it is easy to hack the system if the loophole is discovered by a hacker, making the network vulnerable to attack. Although these attacks caused less damage to the entire system, the prevalence of such cyberattacks are becoming increasingly common, this restricts the growth of the market.
COVID-19 Impact
COVID-19 has presented the world with an unprecedented economic, humanitarian, and healthcare challenge. Rapid spread of the disease has led to a significant impact on the global transportation industry, with a downturn in need for using public transports. Moreover, the leaders in automated railways have registered a decrease in passenger commuting during the pandemic. Industry experts believe that post the pandemic, the need to commute from one place to another through railways will increase as this is considered as the cheapest mode of travelling across cities.
The sensors segment is expected to be the largest during the forecast period
The sensors segment is estimated to have a lucrative growth, due to the rapid increase in the demand for telematics solutions in industries such as BFSI and healthcare. A telematics control unit offers solution for two way control and following railcars. It additionally permits ongoing control and permeability of transport resources. The development can be credited to the eminent ascent in government drive and interest in the advancement of savvy rail route framework. Sensors assist in information assembling and observing, flagging, and rail following. The presentation of cutting edge control unit in railcars is estimated to benefit the segment growth.
The hopper segment is expected to have the highest CAGR during the forecast period
The hopper segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the adoption of telematics technologies in freight logistics. Solutions such as motion detectors, GPS sensors, and shock detectors are also installed for such hoppers in order to facilitate the transportation of goods at their optimal quality. Additionally, based on the analysis of user requirements, the development of a reliable load sensing technology for freight cars has been launched. These advanced solutions are expected to support the growth of the railway telematics market.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to increased awareness about the driver safety and accident prevention. The development can be attributed to the expanding Gross Domestic Products of nations, the rising entrance of trend-setting innovations, consistent development, and the presence of a few arising economies in the region. Moreover, expanding mindfulness about driver security and the promising development of the coordination and cargo transportation businesses are stimulating the regional market growth.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, due to the availability of embedded OEM telematics solutions, advent of the 4G LTE technology and the adoption of the smart railcars. Robust economic growth and technology improvements have led to significant developments. The enhanced railway infrastructure and implementation of technologically advanced sensors in railway telematics are expected to improve the growth of the market.
Key players in the market
Some of the key players profiled in the Railway Telematics Market include Hitachi Ltd., Alstom, Siemens AG, Cando Rail and Terminals, Robert Bosch, Orbcomm, Intrex Telematics, Intermodal Telematics, Railnova, Trinity Industries, Savvy Telematics, Norfolk Southern, Ermewa SA, Tech Mahindra Ltd, IBM Corporation, Cisco, Wabtec, J.M. Voith, Atos Corporation and Trimble.
Key Developments:
In January 2022, Italy-based Hitachi Rail made a strategic partnership with Netherlands-based Intermodal Telematics (IMT) to embed the company's monitoring sensors into Hitachi Rail's digital freight service.
In April 2021, Hitachi Rail announced the acquisition of the UK's Perpetuum for enhancing the company's digital rail maintenance activity. The company is expected to handle the maintenance for all rail original equipment manufacturers and operators across the rail market.
Solutions Covered:
- Railcar Tracking and Tracing
- Remote Data Access
- Shock Detection
- Automatic Stock Control
- Fleet Management
- Other Solutions
Component Types Covered:
- Sensors
- Telematics Control Unit
- Other Component Types
Railcars Covered:
- Well Cars
- Boxcars
- Hoppers
- Refrigerated Boxcars
- Tank Cars
- Other Railcars
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Emerging Markets
- 3.7 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Railway Telematics Market, By Solution
- 5.1 Introduction
- 5.2 Railcar Tracking and Tracing
- 5.3 Remote Data Access
- 5.4 Shock Detection
- 5.5 Automatic Stock Control
- 5.6 Fleet Management
- 5.7 Other Solutions
6 Global Railway Telematics Market, By Component Type
- 6.1 Introduction
- 6.2 Sensors
- 6.3 Telematics Control Unit
- 6.4 Other Component Types
7 Global Railway Telematics Market, By Railcar
- 7.1 Introduction
- 7.2 Well Cars
- 7.3 Boxcars
- 7.4 Hoppers
- 7.5 Refrigerated Boxcars
- 7.6 Tank Cars
- 7.7 Other Railcars
8 Global Railway Telematics Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 Hitachi Ltd.
- 10.2 Alstom
- 10.3 Siemens AG
- 10.4 Cando Rail and Terminals
- 10.5 Robert Bosch
- 10.6 Orbcomm
- 10.7 Intrex Telematics
- 10.8 Intermodal Telematics
- 10.9 Railnova
- 10.10 Trinity Industries
- 10.11 Savvy Telematics
- 10.12 Norfolk Southern
- 10.13 Ermewa SA
- 10.14 Tech Mahindra Ltd
- 10.15 IBM Corporation
- 10.16 Cisco
- 10.17 Wabtec
- 10.18 J.M. Voith
- 10.19 Atos Corporation
- 10.20 Trimble
List of Tables
- Table 1 Global Railway Telematics Market Outlook, By Region (2020-2028) ($MN)
- Table 2 Global Railway Telematics Market Outlook, By Solution (2020-2028) ($MN)
- Table 3 Global Railway Telematics Market Outlook, By Railcar Tracking and Tracing (2020-2028) ($MN)
- Table 4 Global Railway Telematics Market Outlook, By Remote Data Access (2020-2028) ($MN)
- Table 5 Global Railway Telematics Market Outlook, By Shock Detection (2020-2028) ($MN)
- Table 6 Global Railway Telematics Market Outlook, By Automatic Stock Control (2020-2028) ($MN)
- Table 7 Global Railway Telematics Market Outlook, By Fleet Management (2020-2028) ($MN)
- Table 8 Global Railway Telematics Market Outlook, By Other Solutions (2020-2028) ($MN)
- Table 9 Global Railway Telematics Market Outlook, By Component Type (2020-2028) ($MN)
- Table 10 Global Railway Telematics Market Outlook, By Sensors (2020-2028) ($MN)
- Table 11 Global Railway Telematics Market Outlook, By Telematics Control Unit (2020-2028) ($MN)
- Table 12 Global Railway Telematics Market Outlook, By Other Component Types (2020-2028) ($MN)
- Table 13 Global Railway Telematics Market Outlook, By Railcar (2020-2028) ($MN)
- Table 14 Global Railway Telematics Market Outlook, By Well Cars (2020-2028) ($MN)
- Table 15 Global Railway Telematics Market Outlook, By Boxcars (2020-2028) ($MN)
- Table 16 Global Railway Telematics Market Outlook, By Hoppers (2020-2028) ($MN)
- Table 17 Global Railway Telematics Market Outlook, By Refrigerated Boxcars (2020-2028) ($MN)
- Table 18 Global Railway Telematics Market Outlook, By Tank Cars (2020-2028) ($MN)
- Table 19 Global Railway Telematics Market Outlook, By Other Railcars (2020-2028) ($MN)
- Table 20 North America Railway Telematics Market Outlook, By Country (2020-2028) ($MN)
- Table 21 North America Railway Telematics Market Outlook, By Solution (2020-2028) ($MN)
- Table 22 North America Railway Telematics Market Outlook, By Railcar Tracking and Tracing (2020-2028) ($MN)
- Table 23 North America Railway Telematics Market Outlook, By Remote Data Access (2020-2028) ($MN)
- Table 24 North America Railway Telematics Market Outlook, By Shock Detection (2020-2028) ($MN)
- Table 25 North America Railway Telematics Market Outlook, By Automatic Stock Control (2020-2028) ($MN)
- Table 26 North America Railway Telematics Market Outlook, By Fleet Management (2020-2028) ($MN)
- Table 27 North America Railway Telematics Market Outlook, By Other Solutions (2020-2028) ($MN)
- Table 28 North America Railway Telematics Market Outlook, By Component Type (2020-2028) ($MN)
- Table 29 North America Railway Telematics Market Outlook, By Sensors (2020-2028) ($MN)
- Table 30 North America Railway Telematics Market Outlook, By Telematics Control Unit (2020-2028) ($MN)
- Table 31 North America Railway Telematics Market Outlook, By Other Component Types (2020-2028) ($MN)
- Table 32 North America Railway Telematics Market Outlook, By Railcar (2020-2028) ($MN)
- Table 33 North America Railway Telematics Market Outlook, By Well Cars (2020-2028) ($MN)
- Table 34 North America Railway Telematics Market Outlook, By Boxcars (2020-2028) ($MN)
- Table 35 North America Railway Telematics Market Outlook, By Hoppers (2020-2028) ($MN)
- Table 36 North America Railway Telematics Market Outlook, By Refrigerated Boxcars (2020-2028) ($MN)
- Table 37 North America Railway Telematics Market Outlook, By Tank Cars (2020-2028) ($MN)
- Table 38 North America Railway Telematics Market Outlook, By Other Railcars (2020-2028) ($MN)
- Table 39 Europe Railway Telematics Market Outlook, By Country (2020-2028) ($MN)
- Table 40 Europe Railway Telematics Market Outlook, By Solution (2020-2028) ($MN)
- Table 41 Europe Railway Telematics Market Outlook, By Railcar Tracking and Tracing (2020-2028) ($MN)
- Table 42 Europe Railway Telematics Market Outlook, By Remote Data Access (2020-2028) ($MN)
- Table 43 Europe Railway Telematics Market Outlook, By Shock Detection (2020-2028) ($MN)
- Table 44 Europe Railway Telematics Market Outlook, By Automatic Stock Control (2020-2028) ($MN)
- Table 45 Europe Railway Telematics Market Outlook, By Fleet Management (2020-2028) ($MN)
- Table 46 Europe Railway Telematics Market Outlook, By Other Solutions (2020-2028) ($MN)
- Table 47 Europe Railway Telematics Market Outlook, By Component Type (2020-2028) ($MN)
- Table 48 Europe Railway Telematics Market Outlook, By Sensors (2020-2028) ($MN)
- Table 49 Europe Railway Telematics Market Outlook, By Telematics Control Unit (2020-2028) ($MN)
- Table 50 Europe Railway Telematics Market Outlook, By Other Component Types (2020-2028) ($MN)
- Table 51 Europe Railway Telematics Market Outlook, By Railcar (2020-2028) ($MN)
- Table 52 Europe Railway Telematics Market Outlook, By Well Cars (2020-2028) ($MN)
- Table 53 Europe Railway Telematics Market Outlook, By Boxcars (2020-2028) ($MN)
- Table 54 Europe Railway Telematics Market Outlook, By Hoppers (2020-2028) ($MN)
- Table 55 Europe Railway Telematics Market Outlook, By Refrigerated Boxcars (2020-2028) ($MN)
- Table 56 Europe Railway Telematics Market Outlook, By Tank Cars (2020-2028) ($MN)
- Table 57 Europe Railway Telematics Market Outlook, By Other Railcars (2020-2028) ($MN)
- Table 58 Asia Pacific Railway Telematics Market Outlook, By Country (2020-2028) ($MN)
- Table 59 Asia Pacific Railway Telematics Market Outlook, By Solution (2020-2028) ($MN)
- Table 60 Asia Pacific Railway Telematics Market Outlook, By Railcar Tracking and Tracing (2020-2028) ($MN)
- Table 61 Asia Pacific Railway Telematics Market Outlook, By Remote Data Access (2020-2028) ($MN)
- Table 62 Asia Pacific Railway Telematics Market Outlook, By Shock Detection (2020-2028) ($MN)
- Table 63 Asia Pacific Railway Telematics Market Outlook, By Automatic Stock Control (2020-2028) ($MN)
- Table 64 Asia Pacific Railway Telematics Market Outlook, By Fleet Management (2020-2028) ($MN)
- Table 65 Asia Pacific Railway Telematics Market Outlook, By Other Solutions (2020-2028) ($MN)
- Table 66 Asia Pacific Railway Telematics Market Outlook, By Component Type (2020-2028) ($MN)
- Table 67 Asia Pacific Railway Telematics Market Outlook, By Sensors (2020-2028) ($MN)
- Table 68 Asia Pacific Railway Telematics Market Outlook, By Telematics Control Unit (2020-2028) ($MN)
- Table 69 Asia Pacific Railway Telematics Market Outlook, By Other Component Types (2020-2028) ($MN)
- Table 70 Asia Pacific Railway Telematics Market Outlook, By Railcar (2020-2028) ($MN)
- Table 71 Asia Pacific Railway Telematics Market Outlook, By Well Cars (2020-2028) ($MN)
- Table 72 Asia Pacific Railway Telematics Market Outlook, By Boxcars (2020-2028) ($MN)
- Table 73 Asia Pacific Railway Telematics Market Outlook, By Hoppers (2020-2028) ($MN)
- Table 74 Asia Pacific Railway Telematics Market Outlook, By Refrigerated Boxcars (2020-2028) ($MN)
- Table 75 Asia Pacific Railway Telematics Market Outlook, By Tank Cars (2020-2028) ($MN)
- Table 76 Asia Pacific Railway Telematics Market Outlook, By Other Railcars (2020-2028) ($MN)
- Table 77 South America Railway Telematics Market Outlook, By Country (2020-2028) ($MN)
- Table 78 South America Railway Telematics Market Outlook, By Solution (2020-2028) ($MN)
- Table 79 South America Railway Telematics Market Outlook, By Railcar Tracking and Tracing (2020-2028) ($MN)
- Table 80 South America Railway Telematics Market Outlook, By Remote Data Access (2020-2028) ($MN)
- Table 81 South America Railway Telematics Market Outlook, By Shock Detection (2020-2028) ($MN)
- Table 82 South America Railway Telematics Market Outlook, By Automatic Stock Control (2020-2028) ($MN)
- Table 83 South America Railway Telematics Market Outlook, By Fleet Management (2020-2028) ($MN)
- Table 84 South America Railway Telematics Market Outlook, By Other Solutions (2020-2028) ($MN)
- Table 85 South America Railway Telematics Market Outlook, By Component Type (2020-2028) ($MN)
- Table 86 South America Railway Telematics Market Outlook, By Sensors (2020-2028) ($MN)
- Table 87 South America Railway Telematics Market Outlook, By Telematics Control Unit (2020-2028) ($MN)
- Table 88 South America Railway Telematics Market Outlook, By Other Component Types (2020-2028) ($MN)
- Table 89 South America Railway Telematics Market Outlook, By Railcar (2020-2028) ($MN)
- Table 90 South America Railway Telematics Market Outlook, By Well Cars (2020-2028) ($MN)
- Table 91 South America Railway Telematics Market Outlook, By Boxcars (2020-2028) ($MN)
- Table 92 South America Railway Telematics Market Outlook, By Hoppers (2020-2028) ($MN)
- Table 93 South America Railway Telematics Market Outlook, By Refrigerated Boxcars (2020-2028) ($MN)
- Table 94 South America Railway Telematics Market Outlook, By Tank Cars (2020-2028) ($MN)
- Table 95 South America Railway Telematics Market Outlook, By Other Railcars (2020-2028) ($MN)
- Table 96 Middle East & Africa Railway Telematics Market Outlook, By Country (2020-2028) ($MN)
- Table 97 Middle East & Africa Railway Telematics Market Outlook, By Solution (2020-2028) ($MN)
- Table 98 Middle East & Africa Railway Telematics Market Outlook, By Railcar Tracking and Tracing (2020-2028) ($MN)
- Table 99 Middle East & Africa Railway Telematics Market Outlook, By Remote Data Access (2020-2028) ($MN)
- Table 100 Middle East & Africa Railway Telematics Market Outlook, By Shock Detection (2020-2028) ($MN)
- Table 101 Middle East & Africa Railway Telematics Market Outlook, By Automatic Stock Control (2020-2028) ($MN)
- Table 102 Middle East & Africa Railway Telematics Market Outlook, By Fleet Management (2020-2028) ($MN)
- Table 103 Middle East & Africa Railway Telematics Market Outlook, By Other Solutions (2020-2028) ($MN)
- Table 104 Middle East & Africa Railway Telematics Market Outlook, By Component Type (2020-2028) ($MN)
- Table 105 Middle East & Africa Railway Telematics Market Outlook, By Sensors (2020-2028) ($MN)
- Table 106 Middle East & Africa Railway Telematics Market Outlook, By Telematics Control Unit (2020-2028) ($MN)
- Table 107 Middle East & Africa Railway Telematics Market Outlook, By Other Component Types (2020-2028) ($MN)
- Table 108 Middle East & Africa Railway Telematics Market Outlook, By Railcar (2020-2028) ($MN)
- Table 109 Middle East & Africa Railway Telematics Market Outlook, By Well Cars (2020-2028) ($MN)
- Table 110 Middle East & Africa Railway Telematics Market Outlook, By Boxcars (2020-2028) ($MN)
- Table 111 Middle East & Africa Railway Telematics Market Outlook, By Hoppers (2020-2028) ($MN)
- Table 112 Middle East & Africa Railway Telematics Market Outlook, By Refrigerated Boxcars (2020-2028) ($MN)
- Table 113 Middle East & Africa Railway Telematics Market Outlook, By Tank Cars (2020-2028) ($MN)
- Table 114 Middle East & Africa Railway Telematics Market Outlook, By Other Railcars (2020-2028) ($MN)
