DUBLIN, July 30, 2021--(BUSINESS WIRE)--The "Railway Cybersecurity Market by Type (Infrastructural & On-board), Offering, Security Type (Network, Application, Endpoint, System Administration and Data Protection), Application (Passenger & Freight), Rail Type and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global railway cybersecurity market is estimated to grow at a CAGR of 9.4% from USD 6.2 billion in 2021 to USD 10.6 billion by 2027. Major factors driving the railway cybersecurity market include the adoption of IoT as well as automation technologies to enhance efficiency in optimization of railways and an 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.
The Asia Pacific is estimated to have the largest share of the market by 2027. The presence of OEMs such as Thales Group (France), Siemens AG (Germany), Alstom (France), Wabtec (US), and Nokia Networks (Finland) and their investments in rail cybersecurity is one of the major factors fueling the growth of this market at a global scale. These companies offer an extensive range of products & solutions and have strong distribution networks worldwide. The key strategies adopted by these companies to sustain their market positions are new product developments, collaborations, and contracts & agreements. The railway cybersecurity market in different regions is dominated by regional vendors.
The data protection segment to grow at a significant rate during the forecast period.
The 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.
Passenger train segment to grow at a higher CAGR during the forecasted period
The passenger trains segment is expected to lead the railway cybersecurity market. The security of the passenger rail network is more complex than the freight segment as there is an open infrastructure, multiple access points, and a vast user base. In recent times, cities such as London and New York have been prone to passenger railway cyberattacks on their rail networks, which has highlighted the importance of railway cybersecurity. Governments across the globe are encouraging cybersecurity solutions for their passenger and freight railways. For example, in April 2020, the US Government Accountability Office released a report containing the assessment of passenger railway cyberattacks in the US and the European region and passed guidelines to limit them. These government initiatives are expected to fuel the growth of the railway cybersecurity market during the forecast period.
The report segments the railway cybersecurity market and forecasts its size, by value, on the basis of offering, security type, application, rail type and region. It also covers the competitive landscape and company profiles of the major players in the railway cybersecurity market ecosystem.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.2 Market Dynamics
5.3 Porter's Five Forces Analysis
5.4 Railway Cybersecurity Market Ecosystem
5.5 Value Chain Analysis
5.6 Patent Analysis
5.7 Regulatory Overview
5.8 Case Study
5.9 Revenue Shift for Railway Cybersecurity Solution Providers
5.10 COVID-19 Impact Analysis
5.11 Railway Cybersecurity Market, Scenarios (2021-2027)
5.12 Technological Analysis
6 Railway Cybersecurity Market, by Offering
7 Railway Cybersecurity Market, by Security Type
8 Railway Cybersecurity Market, by Type
9 Railway Cybersecurity Market, by Application
10 Railway Cybersecurity Market, by Rail Type
11 Railway Cybersecurity Market, by Region
12 Competitive Landscape
13 Company Profiles
14 Analyst's Recommendations
Raytheon Technologies (Collins Aerospace)
Selectron Systems Ag
Tech Mahindra Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/19llks
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