Dublin, July 27, 2021 (GLOBE NEWSWIRE) -- 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 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.
On-board security is expected to grow at a higher CAGR from 2021 to 2027
The on-board railway cybersecurity market is estimated to grow from USD 1,861 million in 2021 to USD 3,598 million by 2027, at a higher CAGR during the forecast period. The increasing on-board operational systems are expected to drive the market. In recent years, several railway operators have introduced technologies to offer passengers on-board entertainment. This allows passengers to choose from a variety of films, games, and online magazines. Some of the infotainment systems also allow the passengers to track their journey in real-time. Some of the recent companies involved in providing on-board infotainment solutions include Whoosh, GoMedia, and Moment. However, the advent of on-board connectivity raises several concerns related to data safety & security as numerous devices of passengers that are connected to the network fall at risk. As a result, it becomes necessary to deploy cybersecurity solutions for on-board systems in the near future.
The 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 urbans 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 the Asia Pacific.
Major players profiled in the report are Thales Group (France), Siemens AG (Germany), Alstom (France), Wabtec (US), and Nokia Networks (Finland).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
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/2uxzgz
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