Railway Cybersecurity Market Size, Share, Analysis & Industry Forecast 2027

Railway Cybersecurity Market

The railway cybersecurity market, by value, is estimated to be USD 6.2 billion in 2021 and is projected to reach USD 10.6 billion by 2027, at a CAGR of 9.4% from 2021 to 2027. Internet technology captured the application area in railways with smart cities, smart transportation, rail traffic management systems, CBTC, and PTC. Advanced technologies include PIS, smart ticketing, passenger infotainment, rail analytics, cloud and IoT services, freight information and analytics, freight rail solutions such as fleet monitoring, automatic stock management, intelligent and smart devices, and scheduling and optimization capabilities. All these technologies face the threat of cybersecurity. In addition to this, due to the emergence of advanced systems and solutions, IoT in the railway industry has become more prone to cybersecurity threats. These factors would support growth of the deployment of railway cybersecurity solutions.

Government initiatives for smart railways

Increasing urbanization across the globe is resulting in the evolution of smart cities. Governments around the world are undertaking various smart city initiatives to provide better transportation infrastructure and speeding up operational activities in public transportation services. For instance, in March 2020, the Government of India has proposed to develop 100 smart cities in the next few years. The Government of Singapore is implementing digital technology in transportation to accomplish its Smart Nation vision. Transportation is considered one of the most important pillars of a country’s economic development, and hence, these smart city initiatives are expected to drive market growth.

The deployment of smart railway systems requires joint efforts from various stakeholders such as telecom operators, infrastructure providers, service providers, manufacturers, public sectors, and user groups. Government authorities are adopting Public Private Partnership (PPP) models which enable private sector companies participate in smart railways initiatives of governments for deploying and financing transportation projects. This initiative taken on a national level are expected to drive growth for the railway cybersecurity market in the forecasted period.

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Increasing demand for cloud based services

The demand for cloud-based services, analytics, and mobile internet technologies is increasing due to their efficient IT management and reliable security environment. With the rapid increase in big data applications, the level of complexity is also expected to increase, given the sprouting data pool, emerging technologies, and constant need to optimize cost. These factors are expected to influence the growth of new analytics platforms and data storage.

The signaling system has been considered to operate on a closed network for safety. Currently, these systems are becoming more centralized and integrated and have become IT-based using regular computer and COTS (commercial off-the-shelf) components and thereby becoming vulnerable to cyberthreats. Thus, it becomes necessary to deploy cloud-based services in railways. Cloud computing uses the collected data and distributes data to one or more computer systems associated with performing different functions. Thus, minimizing the risk of a cyberattack on critical and non-critical data would further fuel the growth of the railway cybersecurity market.

The Asia Pacific is projected to be the fastest-growing in the railway cybersecurity market

The Asia Pacific is projected to be the fastest-growing railway cybersecurity market due to the increasing penetration of advanced technologies, increasing GDPs of countries, steady growth, and emerging economies. The APAC region covers some of the potential markets, namely, China, India, Japan, and Rest of Asia Pacific. China is expected to lead the market followed by India, Japan, and Rest of Asia Pacific in terms of share and growth rate among all countries during the forecast period.

The APAC region is expected to offer significant growth opportunities due to its untapped market strength. Increasing awareness about driver safety and accident prevention, presence of leading OEM players, growing freight transportation and logistics industries, the advent of the 4G LTE technology, and the adoption of smart railcars in North America and Europe due to the availability of embedded OEM cybersecurity solutions are leading to market growth. The logistics sectors in India and China are on the cusp of disruption. Robust economic growth and technology improvements have led to significant developments. Despite significant country-specific trends and nuances, the underlying themes of economic growth, digital disruption and changing customer preferences prevail. These powerful themes are expected to shape the future of the logistics industry over the next few years. Based on reliable on-line cybersecurity data, dispatchers will be able to inform their customers about changes in transport schedules earlier than is possible presently, increasing reliability and satisfying stakeholders, thus driving growth.

Key Market Players

The report analyzes all major players in the railway cybersecurity market including Thales Group (France), Siemens AG (Germany), Alstom (France), Wabtec (US), and Nokia Networks (Finland).

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