Railway Telematics Market Projected to Reach $7.3 Billion by 2026

Railway Telematics Market

The railway telematics market is estimated to be USD 5.1 billion in 2021 and is projected to grow at a CAGR of 7.5% during the forecast period, to reach USD 7.3 billion by 2026.

Various countries have realized that the development of railway infrastructure is one of the important factors driving economic development. Therefore, a number of countries and OEMs are investing significantly in railway infrastructure. For instance, Commande Centralisee de Reseau of France and Digitaler Bedienplats of Germany announced plans in 2020 to digitalize their interlocking systems by 2033 and 2035 respectively. Also, in May 2021, UAE’s national railway network, Etihad Rail signed an agreement with Transportr, a digital freight service provider, to digitalize Ethihad’s railway fleet as part of UAE’s digitalization agenda. Countries are adopting various technologies in their transportation infrastructure and are focusing on R&D and innovations in rail infrastructure technology to address future mobility challenges.

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The highest number of players in the railway telematics market belong to European OEMs. OEMs such as Siemens AG, Alstom, Knorr-Bremse, and DB Cargo account for a major share of the railway telematics market. Rail operators are now replacing legacy technologies with advanced train-control and signaling systems. The European Railway Traffic Management System (ERTMS) level 2 developed by the Trans-European Rail Network is used for providing signaling solutions and speed control systems for interoperability between the railways across Europe.

Railcar tracking & tracing is estimated to hold the largest market share by solution during the forecast period

The railcar tracking & tracing solution is projected to lead the market during the forecast period. The segment is driven by the demand for freight wagon operations and maintenance. Railcar operators need to monitor the progress of transport using intermodal systems, complying with safety and maintenance regulations, and ensuring that wagons are reliable and available and are able to meet the high personnel costs. If control and implementation are insufficient, productivity may decrease, further aggravating cost pressures. To increase the economic efficiency of individual processes, the railcar tracking & tracing solution is adopted in the industry.

TCU segment is estimated to be the largest segment by range during the forecast period

The telematics control unit provides solutions for two-way tracking and control of railcars. The TCU provides complete and integrated fleet monitoring solutions for transportation and logistics, enabling the real-time visibility and control of transport assets as they move across the supply chain. The introduction of advanced TCUs is offering improved operational efficiency, increased profitability, predictive maintenance, and safety. These advantages are leading to the growth of the TCU railway telematics market which is dominating and also growing at the higher CAGR.

The APAC is projected to be the fastest-growing in the railway telematics market

The APAC is projected to be the fastest-growing railway telematics industry due to the increasing penetration of advanced technologies, increasing GDPs of countries, steady growth, and emerging economies. The APAC region covers some of the potential markets, namely, China, India, Japan, and Rest of Asia Pacific. China is expected to lead the market followed by India, Japan, and Rest of Asia Pacific in terms of share and growth rate among all countries during the forecast period.

Key Market Players:

The report analyzes all major players in the railway telematics companies including Hitachi Ltd. (Japan), Siemens (Germany), Bosch (Germany), Knorr-Bremse (Germany), and Alstom (France).

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