NEWARK, Del, Jan. 20, 2023 (GLOBE NEWSWIRE) -- The global railway telematics market is estimated to be around US$ 6,708.3 Million in 2023 and is anticipated to register a CAGR of 7.1% from 2023 to 2033. The overall valuation of the railway telematics market is to reach around US$ 13,320.1 Million by the year 2033.
All the business sectors providing the solutions and services that go along with smart technology in railway transportation are anticipated to expand rapidly in the near future. Additionally, the ability to make quick decision-making for matters like asset deployment, use, and maintenance of railcars has increased the adoption of railways telematics across all countries.
Moreover, new technologies have become a necessity to make the freight and logistics sector more effective and superior. The adoption of railway telematics, including monitoring of refrigeration wagons and forecasted arrival times for every other railcar is the key factor driving the market in present times.
Request a Sample of this Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-16172
Key Takeaways from the Railway Telematics Market Study Report
- According to this market study report, the United States holds a share of nearly 18.5% of the global railway telematics market. Owing to the presence of many leading OEM industries the overall revenue generated in the year 2023 is estimated to be around US$ 1,241 Mn.
- Germany constitutes the largest regional market for railway telematics in Europe and offers plenty of room for further expansion. According to this statistics report, the country accounts for close to 4.7% of the money made by providing railway telematics services globally.
- In Europe, the UK comes in second after Germany as the regional market for the adoption of railway telematics technology for freight management. This country is projected to witness a growth rate of 3.3% annually as per the market analysis figures.
- China is the leading market among the Asia Pacific countries in terms of the production of railway telematics components as well as services. China is projected to register a higher CAGR 0f 4.3% from 2023 to 2033.
- Japan is also a significant contributor to the Asia Pacific railway telematics market which acquires a share of 5.2% of the global market. With advanced component manufacturers as well as world-class service providers, this country is estimated to generate revenue of US$ 349 Mn in 2023.
- As per the market report, India is the world's fastest-growing market for railway telematics at present years. Through 2033, the region is expected to grow at a pace of 5.4% thanks to domestic railway infrastructure expansion projects and improved export capabilities.
- From 2023 to 2033, the component segment of sensors is expected to grow at a higher rate than any other segment. This segment is also the major contributing segment that acquires a share of nearly 45.5% of the overall market.
- Australia has garnered enough traction in the global railway telematics business recently having a strong export potential for South East Asian countries and other nations. This nation, which has a sizable train transit system, is thought to account for around 2.3% of overall worldwide income.
Get Your Report Customize, Visit: https://www.futuremarketinsights.com/customization-available/rep-gb-16172
For Competitive Landscape of the Global Railway Telematics Market
Siemens AG, Alstom SA, Knorr-Bremse AG, Robert Bosch GmbH, Hitachi Ltd., Intermodal Telematics, Intrex Telematics, ORBCOMM, Railnova, Savvy Telematics, and Trinity Industries are some of the major players in the global railway telematics market studied by the report.
Key Segments
By Solution:
- Fleet Management
- Automatic Stock Control
- Shock Detection
- Remote data access
- Railcar tracking and tracing
- Reefer Wagon Management
- ETA
- others
By Railcar:
- Hoppers
- Tank cars
- Well cars
- Boxcars
- Refrigerated Boxcars
- Others
By Components:
- TCU
- Sensor
- Others
By Train Type:
- Passenger Train
- Freight Train
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa (MEA)
For more Information: https://www.futuremarketinsights.com/reports/railway-telematics-market
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
Request to View TOC: https://www.futuremarketinsights.com/toc/rep-gb-16172
Explore Wide-ranging Coverage of FMI’s Automotive Landscape
Off-Highway Vehicle (OHV) Telematics Market Size: is showing vital signs of growth with a projected CAGR of 15% from 2022 to 2032.
Railway Coupler Market Share: is anticipated to register a moderate CAGR of 3.7% from 2023 to 2033. The railway coupler market predicts the net worth of the market share to grow from US$ 3,954.7 Mn in 2023 to over US$ 5,687.2 Mn by 2033.
Railway Emergency Valves Market Growth: is projected to have a significant CAGR of 5.4% by 2033. According to FMI, the market is expected to expand from US$ 1,957.87 Mn in 2023 to US$ 3,312.77 Mn by 2033.
Railway Rolling Stock Market Demand: is predicted to witness 4.1% growth rate on average over the next ten years. So, by the end of this forecast period, the total supply of these products would reach around US$ 91,921.3 million in the international market.
Railway Interior Lighting Market Outlook: was valued at US$ 263.1 million in 2023 and is expected to be worth US$ 364.1 million by 2033, with a CAGR of 3.30% from 2023 to 2033.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com
