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Railway passenger safety is linked with the security and protection of railway properties such as railway platforms and trains. Reducing unauthorized entry with the assistance of management systems guarantees a high level of protection for passengers as well as commodities on the railway platform. Various measures have been taken to limit unauthorized entry in the form of barriers for railway tracks, the implementation of CCTV cameras on the high-risk sites, the delivery of information to concerned authorities, and the strengthening of regulatory oversight. Access management systems play an important part in preventing unauthorized access using automating the entrance and exit operations as well as safeguarding important areas. Moreover, the entry of unauthorized persons and a huge number of visitors resulting in the uncontrollable crowd on railway platforms entering and exiting using unmanned checkpoints at stations are susceptible to a security threat, and hence, the requirement to minimalize the risk of the unauthorized entrance to platforms has increased.
COVID-19 Scenario Analysis:
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The increase in the need to provide high-level safety to the passengers and goods and growing demand to improve operational efficiency and railways management systems are the factors driving the growth of the railway platform security market. In addition, the increasing need to minimize the risk of uncertified access to platforms and increasing demand for additional assistance and improvement solutions are propelling the market growth. However, lack of proper infrastructure and high implementation and maintenance costs are the factors hampering the market growth. Furthermore, the integration of advanced technologies such as artificial intelligence and machine learning with sensors and cameras to identify threats are providing lucrative opportunities to the growth of the railway platform security market in the forecasted period.
The Market Trends for the Railway Platform Security Market:
Acceptance of the Managed Services by the Enterprises:
Managed service vendors are the service providers that remotely manage IT infrastructure and systems for the backup and restoration of businesses' important data. Managed service providers offer technologically advanced features to their business customers for delivering the best services. Businesses select managed service providers to overcome the problems of fiscal constraints and technical expertise, as it has experienced human resources, infrastructure, and industry accreditations. Managed services are designed to deliver technical assistance to increase the overall performance and attain cost optimization.
Asia-Pacific to Register the Highest Market Growth:
Asia-Pacific region is expected to register the highest market growth potential in the railway platform security market during the forecast period. This growth is credited to the increased implementation of surveillance solutions and platform screen doors in various countries like China, India, South Korea, and others. The growth is also credited to the high-speed railway network, smart transportation, and railway transformation projects in most of the countries in the region. Additionally, the government initiative to modernize the railway security system is fueling the growth of the market in the forecasted period.
Key Market Segments
Key Market Players