DUBLIN--(BUSINESS WIRE)--The "Railway Cyber Security Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Component; Type; Security Type" report has been added to ResearchAndMarkets.com's offering.
The railway cyber security market was valued at US$ 5,916.6 million in 2019 and is expected to grow at a CAGR of 8.2% during the forecast period to reach US$ 11,001.4 million by 2027.
Digital transformation is enabling substantial advancements in railway operations and safety. The integration of digital technology to automate various tasks is helping the railway industry to increase operational efficiency and reliability, which enhances the overall customer experience. Most of the digital transformation applications in railways are based on IP technologies. Some of the common areas where digitization is being applied in railways include train control, maintenance monitoring, signaling control, passenger information systems, and video protection.
Along with its numerous benefits, digital transformation is also increasing the vulnerability of railways to various kinds of cyber-attacks. A large amount of IP traffic flows through the communications networks on a daily basis and such networks are targeted by cyber criminals to attack the railway infrastructure. Hence, the demand for robust cyber security solutions and services is growing at an unprecedented rate to safeguard critical railways infrastructure from cyber threats.
The railway cyber security market is segmented into component, type, and security type. Based on component, the railway cyber security market is segmented into solution and services. The solution segment is further sub-segmented into risk and compliance management, intrusion detection system, encryption, firewall, and antivirus. In 2019, the solution segment held the largest share of global railway cyber security market. Based on type, the railway cyber security market is divided into infrastructural and on-board. Infrastructural segment is expected to be the fastest growing segment during the forecast period. Based on security type, the railway cyber security market is segmented into network security, type security, data protection, end point security, and others. The network security segment contributed a substantial share in 2019 and data protection is projected to be the fastest growing sector owing to increasing number of data protection laws and regulations across regions.
Reasons to Buy
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Market Dynamics
Drivers
- Digital Transformation Trend in Railway Industry
- Increasing Complexity and Frequency of Cyber Attacks
Restraints
- Lack of Awareness and Skilled Professionals
Opportunities
- Rising Cyber Security Laws and Regulations Globally
Future Trends
- Growing Demand for Cloud-Based to Boost the Growth
Companies Mentioned
- Capgemini SE
- Cisco Systems, Inc.
- Collins Aerospace
- Hitachi, Ltd.
- Huawei Technologies Co., Ltd.
- IBM Corporation
- Nokia Corporation
- Selectron Systems AG
- Siemens AG
- Thales Group
For more information about this report visit https://www.researchandmarkets.com/r/36nm1m
