The Railway Telematics Global Market Report 2023, provides comprehensive information on the railway telematics market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Railway Telematics Global Market Report 2023, the global railway telematics market size will grow from $4.15 billion in 2022 to $4.48 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the railway telematics is expected to grow to $6.1 billion in 2027 at a CAGR of 8.0%.
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Strategic partnerships and collaborations are a key trend gaining popularity in the railway telematics market. The strategic partnerships and collaborations in the railway telematics market are enabling competitiveness in the rail sector between freight transportation companies. For instance, in 2020, rail companies in the USA, such as GATX Corporation, Genesee & Wyoming, Watco, Norfolk Southern, and Trinity Rail, have announced a joint venture, Rail Pulse, to involve GPS technologies and other telematics technologies in the future of the American railcar fleet. In March 2020, Netherlands-based Intermodal Telematics BV (IMT) and Germany-based transportation company, VTG AG, entered into a long-term partnership to extend the digitization of VTG’s rail waggon fleet, under which 15,000 rail cars will be equipped with CLT20-Ex GPS units. Also, 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.
The railway telematics market is segmented:
1) By Solution: Fleet Management, Automatic Stock Control, Remote Data Access, Railcar Tracking And Tracing
2) By Railcar: Hoppers, Tank Cars, Well Cars, Boxcars, Refrigerated Boxcars
3) By Component Type: Telematics Control Unit, Sensors
North America was the largest region in the railway telematics market in 2022.
The table of contents in TBRC’s railway telematics market report includes:
- Executive Summary
- Railway Telematics Market Characteristics
- Railway Telematics Market Trends And Strategies
- Railway Telematics Market – Macro Economic Scenario
- Railway Telematics Market Size And Growth
- Railway Telematics Market Segmentation
- Railway Telematics Market Regional And Country Analysis
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- Railway Telematics Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Railway Telematics Market
- Railway Telematics Market Future Outlook and Potential Analysis
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