#Factoftheweek
23.3%.
Railway telematics is picking up speed. Let’s consider the market for realtime tracking solutions for locomotives, multiple units, and rail wagons by the numbers.
The installed base of tracking devices on rail freight wagons:
- 775,000 units worldwide at the end of 2024
- 1.3 million units by the end of 2029
- This is an 11.2% growth rate
Annual shipments are expected to grow:
- 150,000 units in 2024
- 360,000 units in 2029
The penetration of tracking devices within the rail freight wagon segment:
- 14.5% worldwide at the end of 2024
- 23.3% at the end of 2029
Technology can help railways in a bunch of different ways including remote monitoring, predictive maintenance, and health monitoring of locomotives, just to name a few.
Ultimately, this will help reduce operational costs, minimize delays, and provide more reliable and safe transport.
What are you seeing? What would you like to see?
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