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Dublin,– The “Railway Cybersecurity Market by Type (Infrastructural and On-board), Solutions and Services, Security Type (Network, Application, End Point, System Administration, and Data Protection), and Region – Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
Increase in user preference for urban transportation and growing demand for convenient transport to fuel the demand for railway cybersecurity
Major factors driving the railway cybersecurity market include the adoption of IoT as well as automation technologies to enhance efficiency in the 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 drive 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 the 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 urban 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.
Major players profiled in the report are:
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