Rail Internet of Things (IoT) Market

Rail Internet of Things (IoT) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2022-2031

Connectivity services or features have been a crucial indicator of technological growth. These features or services have expanded the horizon for improvement and enabled ease of use of operations. Railways, globally, are investing heavily to incorporate connected services in their offerings.
IoT, or connectivity services, are a highly crucial upgrade needed in railways, as it can play a vital role in tracking, management, distance travelled as well as status of various facilities and maintenance services such as washroom cleaning, change of beddings when new passenger enters during the trip, etc.
Most railways perform preventive maintenance on all carriages, which is time-consuming and expensive; however, an IoT-based system would be able to monitor factors or components that require attention and mark the health status of each component as well as help track maintenance records.

Data and knowledge is the driving factor for any business in today’s world. Receiving instant data is vital for better planning and timely execution of plans. Implementation of JIT and Kanban at every stage in various industries and the ever increasing demand of timely logistics due to growth of the e-commerce industry are posing challenges for the logistics industry. Railways play a huge role in global transportation industry and hence, it is vital for them to upgrade to IoT-based systems.
Rail companies fear falling behind in the age of digitalization. Digitization is a key aspect of the future of the logistics and transport industries. Constant delays in delivery lead to losses for both carrier as well as the receiver.
Railways has been and looked up to as the second-most preferred mode of transport of goods or passengers over long distances not challenged by geography of location. Railways has always been considered as a better mode of transport than roads. Therefore, digitization is vital for the rail industry.

Post pandemic the fuel prices are on constant rise, with the onset of Ukraine – Russia crisis the fuel prices are off the charts. Air transport prices are soaring, and railways being the close next, provides an opportunity to be the best alternative and upgrade systems that can help build trust as a capable alternative.
Most developing countries are moving towards high speed trains and bullet trains. This offers the railways an opportunity to develop an IT infrastructure together that can not only take care of current system requirements but also incorporate future upgrades.
A joint effort in development would not only reduce the cost of development but also lower the cost of production. Moreover, developments can be better incorporated due to interchangeability of the system.

Impressive systems can and would be developed over time, which would be able to deliver all the data to the operators of the railways; however, these systems are likely to cost a fortune. These would require new hardware as well as upgrades to the current fleet of carriages in terms of key electronics, which is expected to be very expensive.
The rail industry already operates on slim margins considering the costs incurred and investment required for setup. These would not only drive the equipment cost but also the operation cost as most services would be subscription based. This, in turn, is likely to further increase recurring costs.
Supporting hardware would be a key aspect in the proper operation of the overall system. This is especially a challenge in developing countries where vehicles are not as advance as those in most developed countries

Few countries in Asia Pacific and Africa are developing and hence, they may find it difficult to upgrade, as the most railways used in these countries are very basic and not very advanced in terms of technology
Railways in the U.S. and several countries in Europe are witnessing huge upgrade in technology due to the new safety norms enacted by various governments.
On the other hand, countries in European and North America would easily be able to adopt these technologies, as they have sophisticated trains and these would not require several upgrades for incorporation of such systems

Rail IoT Market, by Passenger Information System

Rail IoT Market, by Freight Management System

Rail IoT Market, by Security and Safety Solutions

Video Surveillance and Analytics
Intrusion Detection
Access control
Fire alarm and voice evacuation
Others (imaging and scanning solutions and security information management solution)

Rail IoT Market, by Rail Communication and Networking System

Rail IoT Market, by Rail Asset Management and Maintenance Solutions

Rail IoT Market, by Services

Rail IoT Market, by Information Provided

Rail IoT Market, by Region

North America
- U.S.
- Canada
Europe
- Germany
- U.K.
- France
- Russia
- Spain
- Sweden
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- ASEAN
- Rest of APAC
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC Countries
- Turkey
- South Africa
- Rest of Middle East & Africa