The market for real-time tracking devices for the rail industry is growing. In the next four years, the amount of trackers on freight wagons is projected to grow by more than two thirds, to 23.3%.
As of late 2024, around 775,000 freight wagons globally had trackers installed. That number is set to grow significantly: 1,3 million wagons will have trackers by 2029, according to market researcher Berg Insight. That constitutes a growth from 14.5% to 23.3%. In 2029, 360,000 wagons will get trackers on an annual basis. Last year, that number was less than half of that: 150,000.
Equipping trackers is beneficial to the rail freight industry for a number of reasons. “Digitalisation is critical for the railway industry to better compete with road and other transport modes”, says Martin Apelgren, Principal Analyst at Berg Insight.
Real-time data
For example, the technology enables reduced operational costs for rolling stock operators and owners. Moreover, it makes it possible to provide more accurate arrival times and instant notifications in case of delays or disruptions during transport, explains Berg Insight.
“Stakeholders in the rail transport industry are increasingly aware of the benefits of real-time data on rolling stock location and condition, and the adoption of telematics solutions will grow rapidly in the coming years”, concludes Apelgren.
It is mostly specialist telematics providers that offer real-time tracking devices for rail freight wagons, writes Berg Insight. Leading providers in this space include the European companies Nexxiot (Switzerland), DOT Telematik and Systemtechnik (Austria), Siemens Mobility (Germany), SAVVY Telematic Systems (Switzerland), Intermodal Telematics (Belgium), Level Systems (Czechia) and Cargomon Systems (Austria) as well as the North American companies Amsted Rail (USA) and Blackberry (Canada).