Railway Telematics Market Growth & Trends
The global railway telematics market is expected to reach USD 18.37 billion by 2030, registering a CAGR of 6.7% from 2023 to 2030, according to Grand View Research, Inc. Increase in government initiatives for smart railways owing to rapid urbanization and evolution of smart cities, globally, is driving the market growth. Governments across the globe are laying emphasis on undertaking several smart city initiatives to speed up operational activities in public transport services and offer better infrastructure for transportation.
Several countries such as Germany, India, France, and Canada have recognized that the expansion of the railway infrastructure is a significant factor supporting economic development. As a result, OEMs and numerous countries are investing considerably in railway infrastructure. For instance, in September 2022, Siemens mobility announced a contract with NS Groep N.V., a transportation company, to upgrade 176 ViRM trains with the most up-to-date ETCS European Train Control System (ETCS) Level 2 technology.
With the ETCS Level 2 update, the fleet will be able to function more effectively to balance its useful life while also satisfying the most recent European criteria for rail safety compatibility. Equipment for the ETCS onboard unit, installation assistance, and seven years of system maintenance services will all be supplied by Siemens Mobility.
The majority of the prominent players in the railway telematics market belong to European region. OEMs including Alstom, DB Cargo, Knorr-Bremse, and Siemens AG hold a majority of the share in the railway telematics market. Several railway operators are replacing old technologies with progressive train signaling and control systems. For instance, in May 2022, Rail Pulse announced a partnership with Railinc, a rail data services provider company.
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Railway Telematics Market Segmentation
Grand View Research has segmented the global railway telematics market based on solution, railcar, component, and region:
Railway Telematics Solution Outlook (Revenue, USD Million; 2018 – 2030)
- Fleet Management
- Automatic Stock Control
- Remote Data Access
- Railcar Tracking And Tracing
Railway Telematics Railcar Outlook (Revenue, USD Million; 2018 – 2030)
- Tank Cars
- Well Cars
- Refrigerated Boxcars
List of key players in the Railway Telematics Market
- Siemens AG
- Hitachi Ltd.
- Alstom SA
- Knorr-Bremse AG
- Robert Bosch GmbH
- A1 Digital
- Rail nova SA
- SAVVY Telematics Systems AG
- Wabtec Corporation
- Amsted Industries
Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world's renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.
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