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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Market Share by Solution
Fleet management accounts for a significant railway telematics market share as it includes real time monitoring and tracking of trains which play a very crucial role in optimising railway fleet operations. Schedule management, performance analysis, and fuel consumption are other components that are easily managed with the help of fleet management solutions. Furthermore, adoption of fleet management solutions reduces operational costs and enhances asset utilisation, boosting the lifespan of fleet assets and ensuring on time performance.
Market Share by Region
The Asia Pacific is expected to grow rapidly over the forecast period owing to the increased penetration of advanced technologies in the region. Steady growth and increasing gross domestic product value in countries such as China, Japan, and India are other major factors aiding the railway telematics market growth in the Asia Pacific.
Moreover, North America is also expected to witness significant growth owing to the strong presence of leading original equipment manufacturers, growing adoption of smart railcars, and increase in freight transportation, among others.
Railway Telematics Market Report Snapshots
Railway Telematics Market Size
Railway Telematics Market Analysis
Railway Telematics Market Share
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market reached a value of approximately USD 6.64 billion in 2023.
The market is projected to grow at a CAGR of 8.00% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 13.20 billion by 2032.
The major market drivers include rising population, increasing industrialisation, and growing adoption of smart railcars.
The key trends fuelling the growth of the market include increased emphasis on railway safety and security and heavy investments by governments towards development of railway infrastructure.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The significant train types available in the market include passenger train and freight train.
The key players in the market are Hitachi Rail Limited, Intermodal Telematics BV, Alstom Holdings, Robert Bosch GmbH, Siemens AG, Trinity Industries, Inc., Savvy Telematics Systems AG, Railnova SA, and Orbcomm Inc., among others.
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