PORTLAND, ORAGON, USA, September 23, 2021 /EINPresswire.com/ – According to a recent report published by Allied Market Research, titled âRail Telematics Market by Solution, Mode of Operation and Train Type: Analysis of Global Opportunities and Industry Forecast, 2021-2030 â, the global rail telematics market was valued at $ 4.98 billion in 2020 and is expected to reach $ 12.43 billion by 2030, registering a CAGR of 9.5% of 2021 to 2030.
Europe leads the market in terms of revenue, followed by Asia Pacific, North America and LAMEA. France obtained the highest share in 2020. However, LAMEA is expected to grow at a significant rate during the forecast period, due to increased infrastructure development in the LAMEA region.
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Rail telematics is the combination of many components such as sensors, GPS and navigation system, LiDAR, RADAR and several components that contribute to safer and smoother train propulsion. With the advancement of technology followed by the development of railway infrastructure, the need to install several devices has arisen, which has the potential to provide real-time information on the train under all conditions.
Telematics in railways is installed to keep a record of information relating to vehicle condition, distance traveled by vehicle, keeping track of surrounding information and other things. Telematics in trains is connected to the on-board diagnostic port (OBD II port) of the engine, which is located under the engine control panels as well as in various places in the train compartments, thus making the installation of the engine. device an easier process. Once the component is installed in the trains, it begins to record information on many aspects such as suspension, shock absorption, weight on trains, live condition and others.
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In addition, many developments have been made by key manufacturers such as Alstom, Siemens AG, ORBCOMM, Railnova and others towards the introduction of advanced telematics devices, which have complemented the growth of the global railway telematics market. In the same vein, the increase in the rail budget for infrastructure development, coupled with the need for modernization and introduction of autonomous trains, acts as an accelerator of the growth of the world market.
The global rail telematics market is segmented on the basis of solution, mode of operation, train type and region. On the basis of Solutions, the global market is segmented into Fleet Management, Collision Detection and Prevention, Railroad Tracking and Tracing, and others. Based on the mode of operation, the market is segmented into semi-autonomous and fully autonomous. On the basis of train type, the market has been segmented into passenger train and freight train. By region, the Global Railway Telematics Market report has been analyzed in North America, Europe, Asia-Pacific, and LAMEA.
Factors such as increased budget allocation for railway development, increased demand for a safer, more secure and efficient transport system and reduction in pollution and accidents complement the growth market across the world. However, the high possibilities of system hacking and the high costs related to train automation are the factors which are expected to hamper the market growth across the globe. Moreover, factors such as improvement of railway infrastructure in developing countries and increase in freight transport by train are factors which are expected to provide ample opportunities for the growth of the railway telematics market across the globe. .
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Main conclusions of the study
By solution, the collision detection and prevention segment is expected to register significant growth during the forecast period.
Depending on the mode of operation, the fully autonomous segment is expected to show significant growth in the near future.
On the basis of train type, freight train segment is expected to dominate the global rail telematics market due to higher CAGR.
LAMEA is expected to register the highest CAGR.
Covid-19 impact assessment
COVID-19 has presented the world with an unprecedented economic, humanitarian and health challenge.
The lockdown measures have helped contain the spread of the coronavirus, but have imposed a huge economic toll.
The rapid spread of the disease has had a significant impact on the global transport industry, with a decrease in the need for public transport use.
Additionally, countries such as China, Norway, the Netherlands and others, which were the leaders in automated railways, have seen a decrease in passenger trips during the pandemic.
Industry experts believe that after the pandemic, the need to travel from place to place by rail will increase as it is considered the cheapest mode of travel through cities.
By the end of 2020, the situation was under control in some countries, thanks to which the gap between supply and demand was closed and there was significant growth in the development of products, which have more application. wide in developed railways.
The major players analyzed in this report are Alstom, Hitachi Ltd., Intermodal Telematics, Intrex Telematics, ORBCOMM, Railnova, Robert Bosch GmbH, Savvy Telematics, Siemens AG and Trinity Industries.
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