At 7.5% CAGR, Railway Telematics Market Size is Expected to Exhibit 7.84 million USD by 2027

A comprehensive research study on Railway Telematics market added on Market Study Report provides insights into the market size and growth trends of this industry over the forecast timeline. The study evaluates key aspects of Railway Telematics market in terms of the demand landscape, driving factors and growth strategies adopted by market players.

Global Railway Telematics Market to reach USD 7.84 Billion by 2027. Global Railway Telematics Market is valued approximately at USD 4.71 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 7.5% over the forecast period 2021-2027.

New trending technologies in railways which include incorporated provider control, asset management, and predictive analytics, shock detection, and automated inventory control are predicted to help rail management corporations manage most beneficial routes, schedules, capacities, and idle railcars in near real-time. Government policies with increasing investments for smart railways and technological shift towards railway telematics as railway is digitalizing are the factors which are driving the growth of Railway Telematics market.

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Major market player included in this report are: 

  • Siemens Ag
  • Robert Bosch
  • Hitachi Ltd.
  • Alstom
  • Knorr- Bremse Systeme Fur Schienenfahrzeuge Gmbh
  • Wabtec
  • Intrex Telematics
  • Trinity Industries
  • Cando Rail and Terminals
  • Orbcomm

Furthermore, increasing demand of railway telematics will be anticipating the growth of market in forecasted period. For instance: In April 2021, Hitachi Rail has acquired Perpetuum in UK for increasing the company’s digital rail maintenance operations. The company is estimated to execute all the procedures related to the maintenance for equipment, manufacturers and operators across the world. However, lack of infrastructure and high cost of railway telematics devices may impede market growth over the forecast period of 2021-2027.

Global Railway Telematics market analysis on basis of region which includes Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is has emerged as a significant region across the world in terms of market share due to growing usage of smart railcars in the region. Whereas Asia-Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027 due to technological improvements with increase in reliability in the region.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.

Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Solution

Fleet Management

Automatic Stock Control

Shock Detection

Reefer Wagon Management

ETA

By Railcar

Hoppers

Tank cars

Well cars

Boxcars

Refrigerated Boxcars

Others

By Components

TCU

Sensor

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019

Base year – 2020

Forecast period – 2021 to 2027.

Target Audience of the Global Railway Telematics Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors

Full Report Summary At: https://www.marketstudyreport.com/reports/global-railway-telematics-market-size-research?utm_source=marketwatch.com&utm_medium=AG

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