Railway Telematics Market Size, Share, Analysis & Forecast 2021-2028
Railway Telematics Market The Railway Telematics Market is expected to reach USD 18,747 million by the end of 2028, growing at a CAGR of 7.5% over the forecast period (2021-2028). The factors driving the growth of Railway Telematics Market includes rise in the construction of smart cities around the world, growing adoption of telematics systems by insurance and fleet management companies, to monitor location of the vehicle and increasing demand for safe and efficient transportation systems. According to the report published by Bloomberg, the Global Smart City Market was estimated around USD 390.13 billion in 2021 and is predicted to reach USD 1874.83 billion by the end of 2029, growing at a CAGR of 21.68% over the forecast period (2022-2028), which will boost the Railway Telematics Market size in the approaching years. Moreover, rising popularity of advanced technologies such as integrated service management, predictive analytics, and automatic stock control systems and Governm...