Railway Platform Security Market 2021 : Industry Growth, Trends and Forecast to 2030 | Genetec Inc., Zhejiang Dahua, Atos SE

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.

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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 is providing lucrative opportunities for the growth of the railway platform security market in the forecasted period.

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.

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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 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.

Key market players includes Honeywell International Inc, Indra Sistemas S.A., Huawei Technologies Co. Ltd., Robert Bosch GmbH, Atos SE, Teledyne Technologies Inc, Axis Communications AB, Mitsubishi Electric Corporation, L&T Technology Services Ltd., Genetec Inc., Zhejiang Dahua

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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.

COVID-19 Scenario Analysis:

• The spread of COVID-19 has adversely affected the global economies. The government's imposed lockdown has resulted in the shutdown of various business operations. The people were asked to stay at their respective places and their movement was restricted affecting the railway business. The railway platform security market has observed a significant decline in growth because of the pandemic situation.

• The government initiative to improve the security of the railway platforms by safeguarding passengers and goods is expected to boost the market growth in the post-pandemic situation. The market players and the government are investing in new technologies to safeguard the railway platforms with the help of artificial intelligence-embedded CCTV cameras and sensors.

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