Global Railway Cyber Security Market Overview:
According to MarkNtel Advisors study the Global Railway Cyber Security Market is projected to grow at a CAGR of around 9.5% during the forecast period, i.e., 2022-27. Backed by the growing sophistication of cyber-attacks on the railways, the need to implement suitable & proactive solutions to address these threats is escalating rapidly. It, in turn, is augmenting the demand for preventive measures & solutions like cybersecurity technologies that are capable of detecting & eliminating potential threats by closely monitoring the systems and boosting the market growth.
Key Findings of the Study: Railway Cyber Security market
Possible Restraint: High Deployment Cost for Cyber Security Solutions in Railway
Since cyber security systems are essential in strengthening the security infrastructure in railways, their deployment cost is often high, due to which its fledged adoption is affected. Additionally, the improper development of the security infrastructure further brings limitations on the use of contemporary technology & hampers the implementation of railway cyber security.
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Scope of the Railway Cyber Security Market Report Segmentation
-By Type
- Infrastructural
- On-board
-By Security
- Application Security
- Network Security
- Data Protection
- End Point Security and System Administration
-By Solutions and Services
- Services
- Designs
- Implementation
- Risk and Threat Assessment
- Support and Maintenance
- Solutions
- Risk and Compliance Management
- Encryption
- Firewall
- Antivirus/Anti-malware
- Intrusion Detection System/Intrusion Prevention System
- Others
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Geographical analysis:
-By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
Here, Asia-Pacific is anticipated to exemplify the fastest market growth and generate remunerative opportunities for the prominent players in the market during the forecast period. It owes principally to the vast railway networks in the region, across countries like China & India, and their higher vulnerabilities to cybercrimes. Since these networks witness mass transportation regularly and generate substantial data, the network is much more at risk against cyber threats & attacks.
Recent Developments in the Global Railway Cyber Security Market
- In 2022, RazorSecure and the Birmingham Centre for Railway Research and Education agreed on a memorandum of understanding (MoU) to use monitoring systems for rail cybersecurity throughout the UK & the EU railways.
- In November 2021, prominent players Siemens Mobility and RazorSecure agreed to provide rolling stock operators worldwide with enhanced rail cyber security monitoring solutions. Although increased digitization has numerous benefits, it also necessitates robust cyber security. The two businesses are set to combine their skills to safeguard intricate transportation systems, where an expert in rail cyber security, RazorSecure continuously monitors the activity of individual systems & network traffic in real-time. Siemens Mobility is dedicated to ensuring the availability of the rail system with cutting-edge digital asset management solutions like Railigent.
- The same year in September, Alstom, a pioneer in sustainable mobility and company Airbus Cyber Security, signed a global collaboration agreement concentrating on rail transport cyber security to provide solutions & services to the rail operator.
Current Landscape of Railway Cyber Security Market
The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the Railway Cyber Security market. The research report profiles major players, including
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- Alstom
- Hitachi
- Bombardier
- Siemens
- Cisco
- Huawei
- Thales
- General Electric
- Toshiba Digital Solutions Corporations
- IBM
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