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Entrance of new players in the railcar digitalization space points towards a healthy adoption outlook in North America and Europe
NEW YORK, Jan. 23, 2025 /PRNewswire/ -- The freight rail industry has been receiving significant investments to digitize operations. According to global technology intelligence firm ABI Research, revenues for rail car IoT in freight rail will surpass US$20 billion by 2032.
"The global railcar telematics market is driven by the increasing demand for efficient, safe, and cost-effective transportation systems. This expansion can be attributed to advancements in digitalization and the integration of IoT technologies due to heightened emphasis on real-time data analytics enabling preventive maintenance," explains Adhish Luitel, Principal Analyst at ABI Research.
Vendors like Amsted Digital, Wabtec, Nexxiot, and ZTR are some of the emerging players in this space within North America. In addition to this, RailPulse, a coalition created by leading railcar owners in North America, including Class 1 and 2 railroads, lessors, and rail-car-owning shippers, with the goal of pushing rail digitization is also driving the adoption of digital solutions.
Unlike Europe, the North American market is notoriously underpenetrated when it comes to IoT-based visibility. North America presents a large Total Addressable Market (TAM) of nearly 2 million railcars. So far, machine vision and sensor-based inspection devices mounted on the side of the tracks, usually at rail-grade crossings, have been at the forefront.
"Rail braking inspections are critical to ensure safety and compliance in the industry. These checks verify that the air brake system is functioning properly across the entire train, which can span over a mile in length. However, the process can be time-consuming as manual inspection for each car requires constant coordination between the train crew and the control center. This is when IoT technologies can provide efficiency gains," concludes Luitel.
These findings are from ABI Research's Rail Freight Data market data report. This report is part of the company's Supply Chain Management and Logistics research service, which includes research, data, and ABI Insights. Market Data spreadsheets are composed of deep data, market share analysis, and highly segmented, service-specific forecasts to provide detailed insight into where opportunities lie.
About ABI Research
ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.
ABI Research是一家全球性的技术情报公司，拥有得天独厚的优势，充当终端市场公司和技术解决方案提供商之间的桥梁，通过提供独家研究和专业性指导，推动成功的技术实施和提供经证明可吸引和留住客户的战略，无缝连接这两大主体。
For more information about ABI Research's services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.
Contact Info:
Global
Deborah Petrara
Tel: +1.516.624.2558
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