Published on : Nov 05, 2019
A report titled “Global Railway Cybersecurity Market Size, Status and Forecast 2019-2025” has been recently added to the expanding report repository of ResearchMoz.us. The report elucidates an in-depth analysis of factors like drivers, restraints, and challenges present in the market over the forecast period. Further, it offers an accurate analysis of the key trends and market outlook during the forecast period.
Some of the prominent players operating in the railway cybersecurity market are Hitachi, Bombardier, Huawei, Toshiba, Nokia, Siemens, ABB, and General Electric. These players are adopting several organic strategies such as business expansion, collaboration, and mergers to fortify their position in the global railway cybersecurity market during the forthcoming years.
The railway cybersecurity is primarily driven by the increasing digital transformation in railways. This has resulted in implacable operational efficiency as well as an enhanced passenger experience in the global railway cybersecurity market. Nevertheless, the advancement in railways has increased the vulnerability of railways to cyber-threats.
To overcome the security threat, regulatory bodied are increasingly investing in the protection of rail infrastructure. This will require a strong and robust railway communications network security, with several new and technological security measures. This is expected to drive the global railway cybersecurity market.
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Further, the increasing technological evolution has made hackers more sophisticated than before. The damage caused by them cloud ranges from the data breach to potential damage caused to the railway infrastructure. Thus an unprotected railway network could lead to massive disruption. Due to this, the governmental body in both developing and developed regions are taking railway cybersecurity seriously. This increasing efforts taken by the players to protect their infrastructure is a prominent factor expected to drive the global railway cybersecurity market in the coming few years.
Increasing Collaboration Between Regulatory Bodied and Cybersecurity Providers to Drive Growth
Moreover, factors like surge in urbanization, rise in population and increasing penetration of smartphones are some of the prominent factors expected to drive the global railway cybersecurity market. Along with this, the advent of IoT controlled railway networks and growing automation in the field is propelling the railway cybersecurity market.
In September 2018, Thales Deutschland and of the AVG, a leading cybersecurity player signed an agreement regarding a joint project for autonomous railways. Under this agreement, both the company will cooperate with each of them to develop an electric city railway that drives autonomously.
Both of them will use innovative technologies such as autonomous driving, IoT and connectivity, cybersecurity, AI, and big data to develop high tech railway system. Such advancements are expected to boost the railway cybersecurity market.
To secure railways from the cyber threat governmental bodies are signing contracts with the security providers. Such developments will offer new dynamics to the railway cybersecurity market’s growth.
Europe to Hold Maximum Share in the Railway Cybersecurity Market
Based on region, the railway cybersecurity market is classified into North America, Asia Pacific, Europe, and the Middle East and Africa. Among these, Europe is expected to hold the largest share in the railway cybersecurity market during the forecast period. This is mainly due to the presence of key contributor countries in the region. Some of them are UK, France, and Germany. Furthermore, the region is investing in modernization and upgrading of rail infrastructures this is expected to offer lucrative growth avenues to the region in the railway cybersecurity market.