Railway Cybersecuirty Market Size, Share, Research Report By Current And Future Trends, Statistics To 2028

The railway cybersecurity market size is expected to reach US$ 13,763.76 million by 2028 & registering at a CAGR of 10.7% from 2022 to 2028, according to a new research study conducted by The Insight Partners. This evolution in the network security firewall has been majorly attributed by the dynamic growth in the IT industry resulting in the growth of disruptive and connected technologies such as IoT. Owing to these, transformations have paved the way for heinous and malicious practices resulting in data and revenue loss for various organizations.

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The report segments the global Market as follows:

By Offering [Solution (Risk and Compliance Management, Encryption, Firewall, Antivirus/Antimalware, Intrusion Detection/Intrusion Prevention, and Others) and Services],
By 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)

Further, according to World Economic Forum's "Global Risks Report 2022, 17th Edition", malware attacks increased by 358% in 2020, whereas ransomware increased by 435%. It means that cyber threats are now growing faster than the ability to prevent and manage them effectively. Therefore, the demand for cyber security solutions is growing across all sectors. Railway operators worldwide adopt cyber security products and services to prevent cyberattacks. The Biden administration has taken initiatives to protect the US's vital rail transit and passenger railroad infrastructure.

In addition, Thales offers a comprehensive set of specialist services to help railways operator meet the rising need for long-term cyber security maintenance in the rail sector. Also, in 2021, Alstom, Bosch, SpirOps, Thales, and the Railenium Technology Research Institute collaborated with SNCF to debut an autonomous train prototype in France. Since cyber security is a critical problem for autonomous trains, consortium partners have worked with ANSSI (Agence Nationale de la Securite des Systemes d'Information), the French national cyber security organization, to address cyber security issues. Thus, the rise in cyberattack activities boosts the railway cybersecurity market growth.

The Key Players in The Global Market Are: 

Cisco Systems, Inc.
IBM Corporation
Thales Group
Siemens AG
Hitachi, Ltd.
ENSCO, Inc.
RazorSecure Limited
Alstom SA
Irdeto
Raytheon Technologies Corporation

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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.

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COVID-19 outbreak has adversely affected many industries across the world. Passenger count in rail journeys began to decline from March 2020, and by the end of Q2, passenger numbers had dropped to as low as 8% compared to normal levels, according to Independent Regulators' Group-Rail 2020-21. In Q1 of 2020, key railway component manufacturers and solution providers discontinued production/service due to disrupted demand-supply chain. Further, decline in demand for mass transit and rolling stock delayed the deployment of cyber security projects on the rail. Thus, the railway cybersecurity market growth was negatively impacted by the reduced demand for freight trains in Q1 of 2020.

Answers that the report acknowledges:

Market size and growth rate during forecast period.
Key factors driving the Market.
Key market trends cracking up the growth of the Market
Challenges to market growth.
Key vendors of Railway Cybersecuirty Market
Detailed SWOT analysis.
Opportunities and threats face by the existing vendors in Global Market
Trending factors influencing the market in the geographical regions.
Strategic initiatives focusing the leading vendors.
PEST analysis of the market in the five major region

Contact Us:
If you have any queries pertaining to the report or would like further information, feel free to reach out to us at-
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

ABOUT US:

The Insight Partners is a one stop industry research provider of actionable solutions. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are specialist in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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This release was published on openPR.