Global Railway Cybersecurity Market was valued at US$ 4.7 Bn in 2019 and is expected to reach US$ 11.3 Bn by 2027, at a CAGR of 13.17 % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Increasing cybersecurity threats and the adoption of IoT and automation technologies are the major driving factors of the market. Railways have been so far usually considered as a ‘safe domain’ with regard to cyber security issues, mainly since they rely on proprietary, segregated networks with specific protocols for management, communication and signaling. Cybersecurity on the operational railway is in its infancy. In some other areas, like safety and physical security, cultural change has been enforced through regulation. The threat landscapes of the railway sector are progressively increasing. This is perhaps a natural outcome of different railway-related business concerns becoming more integrated ended time.
The slow pace of cybersecurity advancements in developing economies is a major factor restraining the growth of the railway cybersecurity market globally. However, many cyber-security challenges that are part of the global threat and cyber security paradigm are not specific to technical attacks: They are not restricted to viruses & malware. In the railway sector, there is a far more lethal feature of terrorism to take into consideration.
Based on type, the infrastructural segment is projected to be the largest in the railway cybersecurity market. The application of railway traffic management systems in urban transit solutions such as metros and high-speed trains is a major driving factor for railway cybersecurity market. Rail traffic management systems allow centralized supervision and traffic control of the complete rail network.
On the basis of security, the network security segment is likely to have the largest market size during the forecast period. The growth in the network segment is related to the increase in the number of security breaches targeting networks where hackers try to gain access to sensitive data.
Region-wise, The Asia Pacific is expected to be the leading region in the global railway cybersecurity market during the forecast period. Global rail companies must observe that the governments in the Asia Pacific economies are actively making big budget investments in their railway infrastructure planned for the next 20 years. China approved an overall budget of US$15.7 Bn for urban railway projects in the capital of the northern Jilin province.
Recent developments in global railway cybersecurity market: In September 2018, Thales Deutschland and of the AVG signed an agreement on the cooperation of the two companies concerning a joint project for autonomous driving. Together, they want to develop an electric city railway that drives independently. The company combines typical products with new and innovative technologies, for instance, autonomous driving, IoT and connectivity, AI, big data, and cybersecurity to support clients.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Railway Cybersecurity Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global Railway Cybersecurity Market.
Scope of the Global Railway Cybersecurity Market
Global Railway Cybersecurity Market, by Solutions
• Risk and Compliance Management
• Intrusion Detection System/Intrusion Prevention System
Global Railway Cybersecurity Market, by Services
• Design and Implementation
• Risk and Threat Assessment
• Support and Maintenance
Global Railway Cybersecurity Market, by Security
• Application Security
• Network Security
• Data Protection
• End Point Security
• System Administration
Global Railway Cybersecurity Market, by Type
Global Railway Cybersecurity Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• South America