Railway Cybersecurity Market Growing at 10.7% CAGR to be Worth US$ 13,763.76 Million by 2028

Railway Cybersecurity Market is projected to grow from US$ 12,647.40 million by 2028; it is estimated to grow at a CAGR of 11.1% from 2022 to 2028.

PUNE, MAHARASHTRA, INDIA, April 5, 2023 /EINPresswire.com/ -- The railway industry has become increasingly reliant on technology, and as a result, it has become more vulnerable to cyber threats. This has led to a growing need for cybersecurity solutions in the railway sector.

The railway cybersecurity market includes various products and services such as network security, application security, endpoint security, wireless security, cloud security, and others. These solutions help protect railway systems from cyber attacks, ensuring the safety of passengers and the smooth running of railway operations.

The market for railway cybersecurity is expected to grow significantly in the coming years due to the increasing adoption of digital technologies in the railway industry. Factors such as the rising number of cyber attacks, government regulations, and the need to protect critical infrastructure are also driving the growth of this market.

North America and Europe are currently the largest markets for railway cybersecurity due to their well-established railway networks and advanced technological infrastructure. However, Asia-Pacific is expected to witness significant growth in this market due to the increasing adoption of digital technologies and the expansion of railway networks in the region.

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Railway Cybersecurity Market Segmentation

By Offering
Solution
Risk and Compliance Management
Encryption
Firewall
Antivirus/Antimalware
Intrusion Detection/Intrusion Prevention
Others)

Security Type
Application Security
Network Security
Data Protection
Endpoint Security
System Administration

Type
Operational Technology (OT)
Information Technology (IT)]

Application
Passenger Trains
Freight Trains

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.

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.

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Railway Cybersecurity Market: Industry Overview

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.

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, signaling and rolling stock assets a range of cybersecurity solutions.

• In 2022, Razor Secure 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.

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Sameer Joshi
The Insight Partners
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