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Railway Cybersecurity Market Research Report- Forecast till 2030
Railway systems are generally considered safe regarding cyber-attacks as they rely on proprietary, segregated networks and follow specific protocols for management, communication, and signaling. Nowadays, rail systems are more and more connected and open. IT security is evolving in railway applications at a higher pace, including networks, signaling, communication, and train control systems. Cyberattacks can create less impact if the rail manufacturers, operators, and system integrators follow the security measures.
Increased need for smart mobility solutions and services fueling the growth of the railway cybersecurity market. Customers are expecting uninterrupted internet connection not only to plan and book their journeys but also to work and entertain themselves during the journeys. These advanced systems are solutions that are prone to cyberattacks.
Market Research Future (MRFR) presumes the global railway cybersecurity market size to hit USD 13.90 billion at a CAGR of 8.6% from 2021 to 2030 (forecast period).
The Global Market to Regain Stability Post COVID-19 Pandemic
The railway sector was not immune to the COVID-19 pandemic, and it saw a drop in rail vehicle production and sales in 2020. Because of falling passenger service and goods freight transportation demand, the coronavirus pandemic had a severe influence on the global railway cybersecurity business. Business shutdowns, travel, and transportation restrictions between countries, and supply chain interruptions across industries have all hampered the expansion of cybersecurity solutions. A decrease in railway R&D spending, followed by delays in the implementation of railway cybersecurity initiatives, is projected to have a substantial impact on the market.
Railway cybersecurity solutions are mostly implemented in response to government funds and rail operator demand. The majority of countries’ railway operations are gradually resuming. Passengers’ behavior has altered dramatically in the last 18 months. In response to these developments, railway operators began to focus on enhancing safety, supporting infrastructure improvements, and maintaining long-term profitability.
Impact of Coronavirus Outbreak
The COVID-19 outbreak halted passengers’ mobility and significantly affected the railway sector. During this period, most railway component manufacturers suspended their production owing to the decline in demand. The delay in allocating R&D budgets on new rail initiatives significantly affected the adoption of railway cybersecurity solutions.
During the epidemic, railway transport showed remarkable resilience. This allows railway transport to turn this crisis into an opportunity by taking advantage of its comparative advantages.
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The global railway cybersecurity market has been segmented into components, type, security type, and application.
By component, the global railway cybersecurity market has been segmented into Solutions and Services.
By type, the global railway cybersecurity market has been segmented into Infrastructural and On-Board.
By security type, the global railway cybersecurity market has been segmented into Network Security, Application Security, Data Protection, End Point Security, System Administration.
By application, the global railway cybersecurity market has been segmented into Passenger Trains and Freight Trains.
APAC to Rule the Global Market
By 2030, Asia Pacific is expected to have the fastest growth in the global railway cybersecurity market. In Asia, public transportation is a critical component of many economies since a huge portion of the population relies on it for work and leisure as a quick and inexpensive mode of transportation. As Asia’s major nations become more interconnected, their extensive domestic passenger rail networks will become increasingly important. Singapore, Hong Kong Special Administrative Region (SAR), Taiwan, Japan, South Korea, and China have the most modern public transport rail networks.
In recent years, China’s railways have seen tremendous expansion, including the addition of 35,000 kilometers to its current high-speed rail (HSR) network, as well as an increase in maximum train speed limits from 250km/hr to 350km/hr.
Some of the key players operating in the global railway cybersecurity market include Thales Group (France), Siemens AG (Germany), Alstom (France), Wabtec Corporation (US), Hitachi, Ltd. (Japan), Nokia Networks (Finland), IBM (US), Cisco Systems, Inc. (US), Raytheon Technologies Corporation (US), Huawei Technologies Co., Ltd. (China), and Toshiba Corporation (Japan).
The key players are engaged in strategic initiatives such as product launches, mergers,and acquisitions. For instance, in August 2021, Hitachi Rail entered into an agreement with Thales to acquire its Ground Transportation Systems business. Moreover, in March 2021, Thales launched DIVA (Distributed Intelligent Video Analytics) system to monitor passenger density and support social distancing in stations and onboard trains.
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Railway Cybersecurity Market Size, Share & Industry Analysis, By Component (Solution (Risk and Compliance Management, Intrusion Detection System, Encryption, Firewall, Antivirus), Services (Design and Implementation, Risk and Threat Assessment, Support and Maintenance)), By Type (Infrastructural, On-Board), By Security Type (Network Security, Application Security, Data Protection, End Point Security, System Administration), By Application ( Passenger Trains and Freight Trains) and Region -Forecast to 2030
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