Just like any other industry, the rail freight business is subject to change and trends. Although rail freight forwarding has shown a downward trend for a long time, in recent years the quantity of rail freight services has slightly increased. One of the reasons for that was the increase in demand for coal, which is frequently transported by rail. Below you can find some other reasons for the increase in rail freight.
- Rail freight transport has not seen such rapid technological development as other industries. However, in recent years, there have been many innovations with the implementation of the Internet of Things, big data analytics, and cloud computing, all having an effect on rail freight quotes.
- Transport Management Systems (TMS) are becoming the norm, with each new version offering more technology, analytics, and more options for optimization of transport.
- The near future will see more driverless trains, which means a decrease in human error.
- North America has the largest rail network in the world, with more than 200.000 km of railways. However, China, with its “One Belt One Road” initiative is trying to take over that position with many new rail freight corridors.