Lucintel Forecasts the Global Railway TelematicMarket to Reach $60 billion by 2030
Lucintel Forecasts the Global Railway TelematicMarket to Reach $60 billion by 2030
Blog Article
According to a market report by Lucintel, the future of the global railway telematic market looks promising with opportunities in the rolling stock and locomotive applications. The global railway telematic market is expected to reach an estimated $60 billion by 2030 from $40 billion in 2023,at a CAGR of 7.3% from 2024 to 2030. The major drivers for this market are robust railway development, rising demand for transportation systems that are more secure, reliable, and effective, and increasing demand for digitalizing railcar tracking.
A more than 150-page report to understand trends, opportunity and forecast in railway telematic market to 2030 by solution (fleet management, automatic stock control, remote data access, and others), component (telematics control units and sensors), application (rolling stock, locomotive, and others), end use (passenger transit, freight, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that fleet management is expected to witness highest growth over the forecast period due to its significant use in railway sector to maximize resource usage and boost operational effectiveness.
Rolling stock will remain the largest segment due to growing demand for telematics in this settings to enable real-time train tracking and monitoring.
Download sample by clicking on railway telematic market
North America is expected to witness highest growth over the forecast period due to significant growth of freight and logistic sector and presence of key players in the region.
A1 Digital, Alstom, Amsted Industries, Hitachi, Knorr-Bremse, Orbcomm, Rail nova, Robert Bosch, SAVVY Telematics Systems, Siemens are the major suppliers in the railway telematic market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.comTo get access of more than 1000 reports at fraction of cost visit Lucintel'sAnalytics Dashboard.
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market &unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1-972-636-5056
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