Railway Cybersecurity Global Market | Growth, Trends And Forecast Till 2027
Posted by Kavita on July 24th, 2019
Bharat Book Bureau Provides the Trending Market Research Report on “Railway Cybersecurity Market By Type (Infrastructural And On-Board), Solutions And Services, Security Type (Network, Application, End Point, System Administration, And Data Protection), And Region – Global Forecast To 2027” under Automotive Category. The report provides information on industry overview, market size, latest developments, industry trends, Key Manufacturers, global presence,device to communicate and their future prospects.
Increase in user preference for urban transportation and growing demand for convenient transport to fuel the demand for railway cybersecurity
The global Railway Cybersecurity Market is estimated to grow at a CAGR of 9.8% from USD 6.0 billion in 2019 to USD 12.6 billion by 2027. Major factors driving the railway cybersecurity market include adoption of IoT as well as automation technologies to enhance efficiency in optimization of railways and 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.
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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.
The infrastructural segment is estimated to be the largest market, in terms of value, by type, in the railway cybersecurity market.
The infrastructural segment is estimated to hold the largest market share. The infrastructural segment comprises large connected infrastructure such as railway signaling, passenger information system, platform management system, ticketing systems, and few other systems. Most of the platforms for high-speed railways systems are equipped with the above features, which increase the need for cybersecurity in the infrastructure. Several countries in Europe and Asia Pacific have introduced various rail projects to encourage mass rapid transit across countries. Increasing digitalization and growing number of smart railway systems will drive the demand for infrastructural railway cybersecurity across the globe.
Asia Pacific is estimated to be the fastest growing market for railway cybersecurity during the forecast period.
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About the AuthorKavita
Joined: June 10th, 2019
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