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2021
Railway Cybersecurity Market

Railway Cybersecurity Market by Offering (Solutions and Services), Type (Infrastructural and On-board), and Security Type (Application Security, Network Security, Data Protection, End Point Security, and System Administration): Global Opportunity Analysis and Industry Forecast, 2021–2030

A12189
Pages: 259
Sep 2021 | 2408 Views
Author(s) : Omkar Bachal , Sonia Mutreja
Tables: 126
Charts: 78
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COVID-19

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Railway Cybersecurity Market Statistics 2030 -

The global railway cybersecurity market was valued at $7,728.5 million in 2020, and is projected to reach $14,687.8 million by 2030, registering a CAGR of 7.0%. Europe was the highest revenue contributor, accounting for $2,483.9 million in 2020, and is estimated to reach $5,221.5 million by 2030, with a CAGR of 8.1%.

The spread of the COVID-19 pandemic has negatively impacted the global railway cybersecurity market, owing to commute restrictions, negative demand outlook and expected weak financial performance of the market players in 2020. Infrastructure developments planned in the rail industry front for the year 2021 are anticipated to support the growth of the railway cybersecurity market. This positive demand outlook for the market is estimated to witness positive growth and the market is expected to witness strong recovery in 2021.

Railway cybersecurity is a set of solutions or services generally used for protection of the networks, systems, and programs related to railways from digital attacks. Generally, cyber-attacks are focused to changing, accessing or destroying the railway related information for unauthorized usage. In the recent years, railway infrastructure and related solution is integrated with digital smart technologies to attain operational efficiency. The growth of internet driven system in the railway industry is influenced by growing urbanization, smart cities, smart transportation, and smart railway management. Data protection is a crucial concern for the railway industry as railway infrastructure & related system transmits the data points to perform railway operations. In the recent years, the number of cyber-attack on railway networks has witnessed growth, which is a key factor for the railway cybersecurity market growth.

Railway-Cybersecurity-Market--2021-2030

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Factors, such as surge in demand for passenger and freight capacity, increase in number of railway projects across the globe, and rising number of cyber-attacks, are expected to drive the growth of the railway cybersecurity market. However, high installation cost restrains the market growth. On the contrary, entering into strategic partnership with rail operators and service providers and improvement in railway infrastructure in developing countries are projected to offer lucrative growth opportunities for the market players.

The global railway cybersecurity market is segmented on the basis of offering, type, security type, and region. On the basis of offering, the market is divided into solutions and services. On the basis of type, it is categorized into infrastructural and on-board. By security type, it is fragmented into application security, network security, data protection, end point security, and system administration. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Leading players and their key business strategies have been analyzed in the report to gain a competitive insight into the market. Key players covered in the report include Alstom, Cisco Systems, Inc., Hitachi Ltd., Huawei Technologies Co., Ltd., International Business Machine Corporation (IBM), Nokia Corporation, Raytheon Technologies Corporation, Siemens AG, Thales Group, and Webtec Corporation.

Rising number of cyber attacks

Modern railways are equipped with advanced system that requires active internet to regulate its operations by transmitting and receiving signals with the control station. Hence, it is easy to hack the system if the loophole is discovered by a hacker, making the network vulnerable to the attack. For instance, in 2016, the Network Rail UK was attacked by hackers four times in a year. Although this attack caused less damage to the entire system, the prevalence of such cyber-attacks is becoming increasingly common. Such cyber-attacks are creating a demand for secure and operational effective railway systems, which need to be equipped with cybersecurity solutions, thereby creating a significant growth during the forecast period

Railway Cybersecurity Market
By Offering

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Services segment is projected as the most lucrative segments

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Growth in demand for passenger and freight capacity

The railway industry has witnessed significant growth in passenger ridership as compared to other public transit, owing to its fare frequency, overall commute time along with growing integration of high-end technologies to gain advanced safety and comfort. According to the Organization for Economic Co-operation and Development (OECD), passenger transport by rail for million passenger-kilometers has witnessed steady growth over the past decade. Moreover, countries, such as China, India, and Japan, are gaining momentum for million passenger-kilometers. According to a similar source, the U.S. registered 0.02 million passenger–kilometers in 1998, which attained 0.03 million passenger-kilometers in 2019. Germany registered 0.07 million passenger–kilometers in 1998, which attained 0.10 million passenger-kilometers in 2019. Moreover, Japan registered 0.39 million passenger-kilometers in 1998, which reached 0.45 million passenger-kilometers in 2019. Moreover, in 2019, the U.S. witnessed around 60% increase in rail ridership since 1997, and is expected to continue the same trend in the near future. Rail transit in the U.S. is holding around 48% of the total public transit. Railway has witnessed a significant rise in ridership, and is expected to continue in the coming years.

Railway Cybersecurity Market
By Type

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Infrastructural segment is projected as the most lucrative segments

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Moreover, rail transit in the U.S. is holding around 48% of the total public transit. Railway has witnessed a significant rise in ridership, and is expected to continue in the coming years. Thus, increase in ridership is expected to create demand for cost-effective and operational efficient rail solutions equipped smart technologies such as semi-autonomous or automated operations along with railway analytics solutions. Such smart technologies are expected to deliver various services, such as passenger & freight operations management, safety & security monitoring, rail communication & networking, and ticketing system, which are expected to create a requirement for safe data transmission and cyber solutions for effective operations. Thus, growing capacity of passenger and freight capacity is expected to influence the growth in smart technologies, which, in turn, will support the growth of the railway cybersecurity market. 

Railway Cybersecurity Market
By Security Type

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Data Protection segment is projected as the most lucrative segments

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Entering into strategic partnership with rail operators and service providers

Railway cybersecurity solution or service is used by rail operators, which are majorly government authorities or government-owned operating organizations functioning the overall rail activities within the nation with ease and high efficiency. The growing adoption of smart technologies in the railway is creating requirement for operational effective cyber security solutions and services. The commencement of such services or solutions is expected to be carried out through open contracts and agreements between service providers of rail transportation and developers or manufacturers of railway cybersecurity solution. These contracts mention a set of requirement that must be met in a certain timeframe. These long-term contracts and agreements are associated with long-term business opportunities with the rail operators. Market participants need to focus toward winning the contracts and agreements for new installations to gain a competitive advantage.

Railway Cybersecurity Market
By Region

2030
Europe 
North America
Asia-pacific
Lamea

Europe would exhibit the highest CAGR of 8.1% during 2021-2030.

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COVID-19 Impact Analysis

The spread of the COVID-19 pandemic has negatively impacted the global railway cybersecurity market, owing to commute restrictions and expected weak financial performance of market players in 2020. The major risk factors of the railway cybersecurity market participants are supply chain execution, regulatory & policy changes, dependency on labor, working capital management, and liquidity & solvency management. The second wave of COVID-19 hit hard more than earlier strain of COVID-19 in February 2021, and is expected to impact the overall economic outlook negatively to a greater extent. The global business outlook has changed dramatically post the COVID-19 health crisis.

Key Benefits For Stakeholders

  • This study presents analytical depiction of the global railway cybersecurity market analysis along with the current trends and future estimations to depict imminent investment pockets.
  • The overall railway cybersecurity market opportunity is determined by understanding profitable trends to gain a stronger foothold.
  • The report presents information related to key drivers, restraints, and opportunities of the global railway cybersecurity market with a detailed impact analysis.
  • The current railway cybersecurity market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

KEY MARKET SEGMENTS

By Offering

  •  
  • Solutions
  • Services

By Type

  •  
  • Infrastructural
  • On-board

By Security Type

  •  
  • Application Security
  • Network Security
  • Data Protection
  • End Point Security
  • System Administration

By Region

  •  
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Spain
    • France
    • Germany
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Players

  • Alstom
  • Cisco Systems, Inc.
  • Hitachi Ltd.
  • Huawei Technologies Co., Ltd.
  • International Business Machine Corporation (IBM)
  • Nokia Corporation
  • Raytheon Technologies Corporation
  • Siemens AG
  • Thales Group
  • Webtec Corporation
 

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The global railway cybersecurity market is expected to witness significant growth, owing to rising number of cyber-attacks on railway infrastructure and railway systems. Railway cybersecurity solutions as well as services are the key frontline solution in the digital era of the railway system. In addition, opting for services by rail operators is projected to gain traction in the coming years. Moreover, majority of the policy makers are introducing cyber security related policies and initiatives, which is expected to create lucrative business opportunity for the market participants. The global railway cybersecurity market is a fairly consolidated market in which limited market participants are operating in the global market. Market participants are focused to develop their sales footprints by entering into long-term agreements with the rail operators to deliver products or solutions as per the set of requirements.

Numerous developments have been carried out by top companies, such as Alstom, Cisco Systems, Inc., Hitachi Ltd., Huawei Technologies Co., Ltd., IBM, Nokia, Siemens AG, and Thales Group, which supplement the growth of the global railway cybersecurity market. Impacts of COVID-19 significantly affected the global railway cybersecurity market in 2020. Furthermore, the market witnessed negative growth or significant downfall in 2020, and is expected to witness a recovery in 2021.

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FREQUENTLY ASKED QUESTIONS?

A. The global railway cybersecurity market was valued at $7,728.54 million in 2020, and is projected to reach $14,687.77 million by 2030, registering a CAGR of 7.0%.

A. Market players are entering into contracts and agreements with rail operators to gain competative advantage

A. The report sample for global railway cybersecurity market report can be obtained on demand from the website.

A. Majority of the nations with strong railway network such as Germany, UK, U.S., China, India among others are using cybersecurity technology in railway

A. With the adoption of digital and smart technology in the railway industry,railway cybersecurity has witnessed significant demand from last few years, Moreover, in the upcoming years, the global market is expeted to register a CAGR of 7.0% over the forecast period.

A. The company profiles of the top players of the market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the industry along with their last three-year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated

A. High peneration of digital technolgies and growing adoption of smart technologies has witnessed significant growth in the global market. As per AMR analysis, the market is epxected to witness CAGR of 7.0% over the forecast period

A. Railway cybersecurity is set of processes, technologies, and practices directing to protect the railway systems, railway networks, and railway data against attacks, damage, and unauthorized access.

A. U.S., Germany and China are the key matured markets growing in the railway cybersecurity market

A. Rising number of cyber attacks, Increase in number of railway projects across the globe are the known and unknown adjacencies impacting therailway cybersecurity market

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