The railway cyber security market was valued at US$ 5,916.6 million in 2019 and is expected to grow at a CAGR of 8.2% during the forecast period to reach US$ 11,001.4 million by 2027.
Geographically, the railway cyber security market is segmented into five major regions North America, Europe, APAC, MEA, and SAM. In 2019, Europe held the largest share followed by North America and APAC. APAC is projected to be the fastest growing region from 2020 to 2027. However, with the ongoing COVID-19 outbreak, business activities and revenues in the global railway cyber security market may get affected in the year 2020 and early 2021. The growing digital transformation trend and increasing complexity & frequency of cyber-attacks are some of the key driving factors for the global railway cyber security market. However, lack of awareness among enterprises and shortage of cyber security skilled professionals may act as hindering factors for the growth of the market. Despite some limitations, the rising adoption of cloud based solutions and increasing number of cyber security laws & regulations are anticipated to drive the future growth of railway cyber security market.
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The latest research report on the “Railway Cyber Security Market – Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027” provides a comprehensive assessment of the Railway Cyber Security market for the forecast period from 2020 to 2027, including market values for the years 2018 and 2019. The investigative report provides a detailed analysis of the impact of COVID-19 on various segments in the Railway Cyber Security market based on product type, application, and end-use across numerous countries around the world. Further, the report also provides insights into market developments, trends, supply and demand changes across various regions across the globe. Thereby, the report provides a holistic view on the Railway Cyber Security Market in order to help decision makers with various strategic insights and future outlook. The Railway Cyber Security market is expected to witness continued growth during the forecast period from 2020 to 2027.
As per the latest WHO Situation Report (22nd June 2020), the overall confirmed cases in the Asia Pacific region accounted for 806,102 with 25,063 deaths. The ongoing COVID-19 outbreak is anticipated to cause huge disruptions in the growth of various industries of Asia Pacific region. For instance, China is the global manufacturing hub for various industries and the largest raw material supplier. It was also one of the worst affected COVID-19 countries (with close to 84,000 cases and 4,600 deaths) during the first quarter of 2020. The lockdown of various plants and factories in China has affected the global supply chains and negatively impacting manufacturing, delivery schedules, and sales of various electronic products and electronic components. Moreover, technology has become an integral part of Railway Protection Force (RPF) policing. Several tech-initiatives were taken as part of the ongoing modernization of the RPF. Some of the significant steps are the establishment of CCTVs, the introduction of Body-Owned Cameras (BoCs), e-patrol monitoring, cyber cells, and the establishment of IT training centers and the Security Helpline App pilot. However, the uncertainty regarding the future outbreak especially in countries such as India and few other Asian countries, where the graph is going upwards may affect the growth of railway cyber security market in coming quarters.
This is a professional and in-depth study on the current state of the Railway Cyber Security Market with a basic overview of the industry including definitions, classifications, applications and industry chain structure. The Strategic Insights and Development plans are also discussed and manufacturing processes and cost structures analyzed. Railway Cyber Security Market import/export consumption, supply and demand figures and cost price and production value gross margins are also provided.
The report focuses on global major leading Railway Cyber Security Market players providing information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. Upstream raw materials and equipment and downstream demand analysis is also carried out.
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