The Global Railway Cyber Security Market is projected to grow at a CAGR of 9.5% in the forecast period of 2022-27, cites MarkNtel Advisors in their recent research report. The market is driven by the growing digitalization across different industries, including railways, and their mounting vulnerabilities to cybercrimes globally.
Since these sectors look after the mass transition daily and exhibit massive data associated with the trains, arrival, departure, timing, halt & go, among others, the need to have a robust cyber security infrastructure is critical. It is one of the many reasons why the governments of different countries are adopting cyber security solutions and deploying them to identify & eliminate possible threats beforehand.
The same aspect is also generating growth opportunities for the leading players to increase their service offerings and cater to the burgeoning requirements worldwide, further states the research report, “Global Railway Cyber Security Market Analysis, 2022.”
Expansive Data Generation Propelling the Demand for Network Security & Driving the Market
Network Security is anticipated to acquire the largest share in the Global Railway Cyber Security Market during the forecast period. The dominance is backed by the massive bunch of centralized data generated by the rail network offering across locations to bring real-time information, monitoring, & supervision, to the managers. It, in turn, is augmenting the demand for cybersecurity systems to eliminate the possibilities of threats & crimes.
Network security is essential to attain a view of the entire network with detailed information covering from the topology to the granular level of each asset like interlocking, trackside devices, & management workstations, among others. Hence, prominent players exercise substantial opportunities to widen their service offerings and cater to the need for a cybersecurity solution for in-depth visibility into the network.
Massive Rail Network in Asia-Pacific Driving the Demand for Cyber Security through 2027
On the geographical front, Asia Pacific is anticipated to demonstrate the fastest growth in the Global Railway Cyber Security Market during the forecast period. This growth attributes to the massive railway networking systems across countries like China & India in the region, entwined with the growing focus of the governments on bringing digitalization & automation into these sectors for greater effectiveness and minimal user hindrance.
Since such aspects are also hinting toward higher vulnerabilities to cybercrimes, the demand for robust solutions to address these issues is rising and stimulating the deployment of cyber security solutions. Besides, a rising number of railway & metro projects for infrastructural development across different countries is generating remunerative growth opportunities for the leading players. It enables the companies to widen their service offerings & contribute to the market expansion across Asia-Pacific through 2027.
The leading players in the Global Railway Cyber Security Market are Alstom, Hitachi, Bombardier, Siemens, Cisco, Huawei, Thales, General Electric, Toshiba Digital Solutions Corporations, and IBM.
Key Questions Answered in the Research Report