Press release
Railway Cybersecurity Market Growing Up By Cargo Type: Thales Group, Alstom, Siemens, Bombardier, Nokia Networks
Railway Cybersecurity Market
Cyber security refers to the process of protecting data, software, and other important files from cyber-attacks. Railway industry has information about passengers, their location, bank details, important information about the trains, planning, and others. Since, the rise of digital transformation and adoption of Internet of Things (IoT) and automation technologies in railway industry is the major factor for growth of railway cybersecurity market. Railway cybersecurity is used to protect the digital resources, infrastructure and data from cyber-attacks, ransomware, malware, malicious threats, and others. Railway cybersecurity offers solutions and services to identify cyber-attacks and propose counter measurements through automated systems. Therefore, the key player of railway cybersecurity market has adopted various strategies to gain competitive advantage such as product launch, mergers & acquisition, partnerships & agreements, investment, funding, and others with the railway organisation which in help in improvement of railway cybersecurity.
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COVID-19 Impact Analysis:
Due to COVID-19 pandemic the government across all countries declared lockdown and various other restrictions. The imposed lockdown on rail industry had disrupted both railway manufacturing and transportation via railway. Also, the lockdown has affected the global supply chain and negatively impacted manufacturing, delivery schedule, and sales of various electronic products and components required for railway cyber security. Railway cybersecurity is an evolving sector, but the pandemic had a negative impact on the market. Due to lockdown no passengers were using railway it made difficult for the rail industry to afford railway cybersecurity system. Moreover, due to social distancing norms and other restrictions there was unavailability of skilled labour required for cybersecurity maintenance.
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Top Impacting Factors
Rise in new cybersecurity laws & regulations, adoption of new technologies, and rise of railway cyberattacks is expected to drive growth of the market.
However, lack of cybersecurity awareness & strategic planning and lack skilled professional will hamper growth of the market.
Rise in digital transformation in railway industry, rise in automation level in railways, and rise in demands for cloud-based storage act as an opportunity for growth of the market.
Market Trends
Rise in new cyber security laws & regulations
In Germany, a new insurance policy has been launched for tackling the problems of cybersecurity. The policy provides ratings based on the rail cyber index designed by experts. On an account of cyberattack the insurance will cover extortion through ransomware, loss of customer data, and system breakdown emergencies. The new insurance policies are expected to provide impetus to adopting cyber security framework since, the insurance might become useful during pay-outs. All these factors are expected to drive growth of the market.
Adoption of new technologies
Apple purchased Intel’s 5G modems division which gives an added advantage in independent development of US portfolio on 5G technology. This technology is expected to deliver good data speed making it easier to support technologies such as video communication, artificial intelligence, and network connectivity. Moreover, this will help in expansion of railway cybersecurity market since, the good connectivity is required for better cyber protection from cyber-attacks. All these factors are expected to drive growth of the market.
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Key Benefits of the Report:
This study presents the analytical depiction of the railway cybersecurity market along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with challenges of the railway cybersecurity market.
The current market is quantitatively analyzed from 2020 to 2030 to highlight the railway cybersecurity market growth scenario.
The report provides detailed railway cybersecurity market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the railway cybersecurity market research report:
Which are the leading market players active in the railway cybersecurity market?
What would be the detailed impact of COVID-19 on the market?
What current trends would influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the railway cybersecurity market?
What are the projections for the future that would help in taking further strategic steps?
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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