Increase in user preference for urban transportation and growing demand for convenient transport to fuel the demand for railway cybersecurity
The global railway cybersecurity market is estimated to grow at a CAGR of 9.8% from USD 6.0 billion in 2019 to USD 12.6 billion by 2027. Major factors driving the railway cybersecurity market include adoption of IoT as well as automation technologies to enhance efficiency in optimization of railways and increasing number of government initiatives and PPP models for modernization of railways. However, the capital-intensive nature of implementing connected technology is inhibiting the growth of the railway cybersecurity market.
Data protection segment to grow at a significant rate during the forecast period. Data protection segment is estimated to be the fastest growing segment of the railway cybersecurity market.The demand for data protection is high across regions.
This is because of increasing data generation from processes in railways such as ticketing, passenger information collection, and railway information collection.Due to data analytics tools, the importance of data has increased tremendously as it helps make railway operations more efficient and profitable.
Moreover, European regulations such as GDPR have further increased the demand for data protection. Hence, the increasing growth and importance of data in railways drives the need for data protection.
The infrastructural segment is estimated to be the largest market, in terms of value, by type, in the railway cybersecurity market.
The infrastructural segment is estimated to hold the largest market share.The infrastructural segment comprises large connected infrastructure such as railway signaling, passenger information system, platform management system, ticketing systems, and few other systems.
Most of the platforms for high-speed railways systems are equipped with the above features, which increase the need for cybersecurity in the infrastructure.Several countries in Europe and Asia Pacific have introduced various rail projects to encourage mass rapid transit across countries.
Increasing digitalization and growing number of smart railway systems will drive the demand for infrastructural railway cybersecurity across the globe.
Asia Pacific is estimated to be the fastest growing market for railway cybersecurity during the forecast period. The Asia Pacific railway cybersecurity market is estimated to grow at the highest CAGR during the forecast period.The growth of the Asia Pacific market is due to increasing urbans transit and digitalization of railways by major players and governments in the region.
This is to cope with rising consumer demand for convenient and secure travel and comply with fuel-efficiency norms to restrict CO2 emissions. For instance, Bombardier’s Optiflo rail control service solutions introduced new advancements in powerful, data-driven, predictive maintenance and cybersecurity solutions for Asia Pacific. The study contains insights from various industry experts, ranging from component suppliers to Tier I companies and OEMs. The break-up of the primaries is as follows: • By Company Type: Tier 1: 27%, Tier 2: 27%, OEM: 46% • By Designation: C level: 32%, D level: 38%, Others: 30% • By Region: North America: 15%, Europe: 27%, Asia Pacific: 50%, Rest of the World: 8%
Major players profiled in the report are: • Bombardier (Canada) • Alstom (France) • ABB (Switzerland) • Siemens (Germany) • General Electric (US) • Toshiba (Japan) • Hitachi (South Korea) • Thales Group (France) • Nokia Networks (Finland) • Cisco (US)
Research Coverage: The report segments the railway cybersecurity market, by value, on the basis of region (Asia Pacific, Europe, North America, and the Rest of the World), type (infrastructural and on-board), security type (network security, application security, data protection, end point protection, and system administration), and component (solutions and services). The report contains various levels of analysis, including industry analysis, industry trends, and company profiles, which together comprise and discuss the basic views on emerging and high-growth segments of the railway cybersecurity market, high-growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.
Reasons to Buy the Report: The report enables new entrants and smaller firms as well as established firms to understand the market better to help them acquire a larger market share. Firms purchasing the report could use any one or a combination of the 4 strategies (market development, product development/innovation, market diversification, and competitive assessment) mentioned below to strengthen their position in the market.
The report provides insights into the following points: • Market Penetration: The report offers comprehensive information about the railway cybersecurity market and the top players in the market. • Product Development/Innovation: The report provides detailed insights into upcoming technologies, R&D activities, and new product launches in the railway cybersecurity market. • Market Development: The report analyzes the railway cybersecurity market across regions and provides comprehensive information about lucrative emerging markets. • Market Diversification: The report provides exhaustive information about new products, untapped regional markets, recent developments, and investments in the railway cybersecurity market.
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