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Railway Cybersecurity Market – Global Forecast to 2027

Apr 30, 2022

Railway Cybersecurity Market

An increase in user preference for public transportation & the growing demand for smart transportation and the IoT will propel the Railway Cybersecurity Market

NORTHBROOK, ILLINOIS, UNITED STATES, April 27, 2022 /EINPresswire.com/ — The report “Railway Cybersecurity Market by Type (Infrastructural & Onboard), Offering, Security Type (Network, Application, Endpoint, System Administration and Data Protection), Application (Passenger & Freight), Rail Type and Region”, The Railway Cybersecurity Market is estimated to be $6.2 billion in 2021 and is projected to grow at a CAGR of 9.4% during the forecast period, to reach $10.6 billion by 2027.

The increase in data breaches or data leakages is fueling the market for railway cybersecurity products, solutions and services. With the advancements in technologies, automated and sophisticated cyberattacks are accelerating. The increasing sophistication of attacks is triggering railway operators across the globe to adopt cybersecurity solutions and services to combat cyberattacks.

Opportunity: 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 signalling 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.

Some of the major players in the railway cybersecurity market are Thales (France), Alstom (France), Siemens (Germany), Bombardier (Canada), and Nokia Networks (Finland).

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The Data Protection segment is estimated to be the largest segment by security type during the forecast period

Data protection focuses on securing critical databases, including data, applications, database servers, and systems. Data protection applications are aimed at maintaining confidentiality, integrity, and availability of data. These solutions protect databases from unauthorized access, malware infections, and other threats and vulnerabilities. In May 2020, the IT networks of the Swiss manufacturer of railway rolling stock, Stadler, were targeted in a malware attack to steal information. This data leak could mean the theft of sensitive data from customers or employees. In January 2019, the official online booking platform of the China Railways (CR) suffered a massive data breach. Cybercriminals stole the personal information of nearly five million people, which included names, ID numbers, and passwords. These incidents are driving the growth of data protection solutions to prevent a data breach.

The passenger train segment accounts for a major share of the market during the forecast 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.

Europe is expected to be the largest market for passenger rail cybersecurity. The market growth in the region can be attributed to the increasing demand for comfort and safety and the resultant development of advanced technologies that increase the comfort levels of passengers and reduce intercity travel time. The European Commission is focused on streamlining the rail sector in the region due to the strong passenger rail sector. Horizon 2020 is one of the most prominent programs launched in the region that would transform the rail sector in terms of digitalization as well as cybersecurity.

The railway cybersecurity services are expected to grow at a higher CAGR during the forecast period

Due to the increasing deployment of cybersecurity in railways. Cybersecurity services such as design, development, support, and maintenance are executed before and after the implementation of connected infrastructure. Moreover, post-implementation of cybersecurity solutions, services such as support and maintenance are executed periodically. This increases the demand for services throughout the lifetime of a railway cybersecurity infrastructure. Cybersecurity providers may leverage this opportunity by offering numerous bundled services to customers in the railway cybersecurity domain.
Railway cybersecurity providers can focus more on efficient technologies that are less prone to cyberattacks and maintenance as they can expect a huge demand from cost-sensitive developing countries in the Asia Pacific, North America, and Europe. Furthermore, growing metro and other intracity rail projects will also propel 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 the Rest of Asia Pacific. China is expected to lead the market followed by India, Japan, and the 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, the 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 online 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.

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Recent Developments:

1. In May 2021, Wabtec was awarded a supply contract worth USD 15 million by Delhi-Meerut Regional Rapid Transport Systems (RRTS). The company will be supplying advanced technology brake systems, pantographs, roof disconnector switches, and fully integrated passenger information systems to RRTS for building coaches for this project.

2. In May 2021, Siemens announced the acquisition of RailTerm, a Canada-based rail service provider. This acquisition will help the company expand its product portfolio with on-ground track and signalling, electrification, and communication systems.

3. In March 2021, Wabtec announced the acquisition of Nordco, a North American supplier of new, rebuilt, and used maintenance of way equipment having products such as mobile railcars movers and ultrasonic rail flaw detection technologies. Through this acquisition, the company aims to expand its product portfolio and widen its global presence.

4. In March 2021, Thales developed the DIVA (Distributed Intelligent Video Analytics) solution for passenger railways. This solution will be useful for leveraging existing CCTV networks on stations and onboard trains to provide real-time information and passenger density

5. In February 2020, Thales signed a supply contract with L&T Metro Rail Limited, Hyderabad (India), to supply advanced signalling and train control technology solutions. In January 2021, Nokia signed a supply contract with WESTbahn fleet, Austria. Nokia will be supplying train-to-ground solutions to the operator to enhance the user experience of the onboard passengers.

6. In December 2020, Alstom and ASELSAN entered into a collaboration agreement to establish a framework of cooperation and coordination in the field of ETCS Signaling Onboard. The main objective of this collaboration is the establishment of a long-term partnership to enable the two leading companies to cooperate in the field of rail systems.

7. In September 2020, Thales secured a supply contract in Vancouver’s Broadway Subway Project for the supply of Communications Based Train Control (CBTC) systems. The trains will be equipped with Thales’s SelTrac solutions.

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Article originally published at https://www.einpresswire.com/article/570146839/railway-cybersecurity-market-global-forecast-to-2027-marketsandmarkets

The post Railway Cybersecurity Market – Global Forecast to 2027 first appeared on Reality Syndicate Viewers.

The post Railway Cybersecurity Market – Global Forecast to 2027 first appeared on Euro-News.

This news story originally appeared at Travel - Euro-News on 30 April 2022