Railway Cybersecurity Market Worth $13.7 Billion, Globally, by 2028 at 10.7% CAGR | The Insight Partners

NEW YORK, Oct. 28, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Railway Cybersecurity Market Size, Share, Revenue, Growth Strategy, Industry Trends and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Offering, Security Type, Type, Application, and Geography," the global railway cybersecurity market size is projected to grow from USD 7.46 billion in 2022 to USD 13.76 billion by 2028; it is estimated to grow at a CAGR of 10.7% from 2022 to 2028.

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Global Railway Cybersecurity Market Report Scope, Segmentations, Regional & Country Scope:

Browse key market insights spread across 195 pages with 162 list of tables & 108 list of figures from the report, "Railway Cybersecurity Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Offering [Solution (Risk and Compliance Management, Encryption, Firewall, Antivirus/Antimalware, Intrusion Detection/Intrusion Prevention, and Others) and Services], Security Type (Application Security, Network Security, Data Protection, Endpoint Security, and System Administration), Type [Operational Technology (OT) and Information Technology (IT)], and Application (Passenger Trains and Freight Trains)" in detail along with the table of contents: https://www.theinsightpartners.com/reports/railway-cyber-security-market

Global Railway Cybersecurity Market: Competitive Landscape and Key Developments

Cisco Systems, Inc.; IBM Corporation; Thales Group; Siemens AG; Hitachi, Ltd.; ENSCO, Inc.; RazorSecure Limited; Alstom SA; Irdeto; and Raytheon Technologies Corporation are among the leading players profiled in the railway cybersecurity market report. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help the key players strategize their growth. A few developments are mentioned below:

In 2020, Societe du Grand Paris selected Nokia and ENGIE Solutions for the deployment of an industrial-grade LTE private wireless network in automated lines of the Grand Paris Express metro. These solutions also include cyber-security offered by Nokia to railway systems.

In 2021, Razorsecure has formed partnership with Comtest Wireless to offer rail infrastructure, track, telecoms, signalling and rolling stock assets a range of cybersecurity solutions.

In 2022, RazorSecure and Birmingham Centre for Railway Research and Education signed memorandum of understanding (MOU) to leverage monitoring solutions for railway cybersecurity across UK and EU railways.

Growing Adoption of Smart Mobility Solutions in Railways:

Digitalization implies several challenges, including complex software and technology, security concerns, budget constraints, and many concerns regarding the ability to meet the needs of economy and society. Transportation modes, including railways and airports, are the most important pillars of a nation's economic development. The railway industry has grown in its all-business areas, such as manufacturing, infrastructure management, and transport operations. Various governments across the world established smart city programs. For instance, in 2020, the Indian government announced a plan to develop 100 smart cities under its Smart Cities Mission over the next few years. The smart city program consists of transportation infrastructure enhancement and focuses on speeding up the public transit operations. Singapore's government is implementing 5G technology in transportation under its Smart Nation Vision. Thus, smart city initiatives drive the railway cybersecurity market growth.

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The merger, acquisition, and collaboration between several stakeholders, including telecommunication firms, infrastructure providers, service providers, manufacturers, and government bodies, is necessary to adopt smart railways systems. In 2021, Siemens acquired Padam Mobility, a tech firm that offers platforms and applications powered by AI for on-demand and paratransit services. The acquisition expands Siemens Mobility's multimodal transportation-focused portfolio of intelligent infrastructure. In Russia, businesses and first-class passengers travelling by the high-speed SAPSAN train service connecting Moscow to Saint Petersburg can use the internet and a portal that can access films, music, audiobooks, and magazines. Additionally, the portal provides information about cultural events in both cities, virtual train tours, online courses, and railway information. These developments are well-synchronized and matched to expedite the adoption of smart solutions in railways. Therefore, the advancement of smart mobility solutions in the railway sector fuels the railway cybersecurity market growth.

Europe is one of the most important railway cybersecurity markets. Horizon 2020 is one of the key initiatives in the region comprising the implementation of digitization and cybersecurity in the rail sector. Modern trains consist of sophisticated technologies that need an active internet connection to operate and receive signals to and from the control station. If a hacker discovers a vulnerability, it is easy to hack the system. For instance, in 2022, a cyberattack targeted Ferrovie Dello Stato Italiane (FS), Italy's national railway company. The freight transport by rail was suspended temporarily due to cyberattacks. Further, in 2021, new self-service ticket machines of Northern Rail, one of the UK's local railway systems covering the north of England, were targeted by a suspected ransomware cyber-attack. Such incidents signify that rail infrastructure requires reliable and robust railway communications network security with new technologies and process measures. Cybersecurity will make the framework simple and versatile in the railway industry and make innovative advances. It can give information assurance, application security, and framework administration. Thus, all these factors are likely to boost the regional railway cybersecurity market growth during the forecast period.

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Global Railway Cybersecurity Market: Industry Overview

The railway cybersecurity market is segmented on the basis of offering, security type, type, application, and geography. Based on offering, the railway cybersecurity market is bifurcated into solutions and services. The railway cybersecurity market for the solutions segment is further segmented into risk and compliance management, encryption, firewall, antivirus/antimalware, intrusion detection/intrusion prevention system, and others. In terms of security type, the railway cybersecurity market is segmented into application security, network security, data protection, endpoint security, and system administration. Based on type, the railway cybersecurity market is bifurcated into operational technology (OT) and information technology (IT). By application, the railway cybersecurity market is segmented into passenger trains and freight trains. Based on geography, the railway cybersecurity market is segmented into North America (the US, Canada, and Mexico), Europe (Austria, Italy, Poland, Switzerland, Sweden, Norway, Denmark, the Netherlands, Finland, Spain, Baltics, and Rest of Europe), Asia Pacific (Australia, Japan, South Korea, Taiwan, and Rest of APAC), Middle East & Africa (Saudi Arabia, UAE, South Africa, and Rest of MEA), and South America (Brazil, Argentina, and Rest of SAM).

Asia Pacific is another promising region in the railway cybersecurity market. The railway cybersecurity market growth in the region is driven by the increasing penetration of advanced technologies, rising GDP of countries, stable economic growth, and emerging markets. Further, the increasing number of railway projects in various Asia Pacific counties is expected to propel the demand for railway cybersecurity solutions and services in the coming years. Governments of APAC are implementing various smart city initiatives to provide better transport infrastructure and speed up public transit operations. For instance, the Singaporean government is integrating digital technology into the transportation sector. Furthermore, in 2020, the Indian government pledged to build 100 smart cities in the next few years. The smart city initiatives are expected to boost market growth as transportation is considered one of the key pillars of the country's economic development. Government agencies have adopted a public–private partnership (PPP) model that allows private companies to implement and fund transportation projects in government smart rail initiatives. The initiatives taken at the national level are expected to drive the growth of the regional railway cybersecurity market during the forecast period. Further, rising government rules regarding passenger safety and increasing digitized and connected infrastructure are among the other factors driving the railway cybersecurity market expansion.

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