Railway Telematics Market expanding at a CAGR of 7.5%, from 2021 to 2028
Railway Telematics Industry Overview The global railway telematics market size was valued at USD 10.61 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.5% from 2021 to 2028. The surge in demand for a safe, secure, and efficient transport system is anticipated to support market growth. Advanced transport systems are less likely to witness fatalities owing to upgraded telematics technologies, thereby contributing to the growth. However, COVID-19 pandemic-related lockdowns hampered transportation and freight activities globally during the first half of 2020, negatively impacting the market growth. The growing demand for the digitalization of railcar tracking and increasing rail freight transportation are some of the key factors anticipated to drive the growth. Gather more insights about the market drivers, restrains and growth of the Global Railway Telematics Market Advanced technologies such as asset managemen...