Northrook, IL -- (SBWIRE) -- 06/02/2020 -- The Railway Cybersecurity Market is estimated to be USD 6.0 billion in 2019 and projected to reach USD 12.6 billion by 2027, at a CAGR of 9.8%. An increase in the use of IoT and connectivity in the railway ecosystem is projected to drive the global market.

The key players in the railway cybersecurity market are Thales (France), Alstom (France), Siemens (Germany), Bombardier (Canada), Nokia Networks (Finland), General Electric (Wabtec)(US), Hitachi (Japan), IBM (US), Cisco (US), United Technologies (Rockwell Collins), and Huawei (China).

Opportunities

1. Demand for Cloud-Based Services

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The infrastructural segment is expected to be the largest contributor to the global market, by type, during the forecast period.

The infrastructural segment is estimated to be the largest in this market. The implementation of railway traffic management systems in urban transit solutions such as metros and high-speed trains is a major driving factor for this market. Rail traffic management systems allow centralized supervision and traffic control of the entire rail network. The entire rail operations can be regularized from a central control system. This central administration system uses real-time data over high-speed communication links across trains and rail infrastructures to automate traffic. Rail traffic management involves signaling, traffic control, routing, and train schedules. All these systems are vulnerable to cyber-attacks. Hence, the growth of these systems will boost railway cybersecurity.

The services segment is expected to be the fastest-growing market, by component, during the forecast period.

The services segment is expected to be the fastest-growing market during the forecast period. The railway cybersecurity services market is segmented into risk and threat assessment, support and maintenance, design and implementation, and others. These services enhance the security portfolio of rail infrastructure and safeguard the endpoints, networks, and cloud environment from unauthorized access, exploitation, and data loss. The companies that do not have in-house capabilities for detection and remediation against threats outsource their cybersecurity work to expert Managed Security Service Providers (MSSPs). Managed security services help safeguard enterprises by providing network assessment, targeted scanning and reporting, unlimited report generation, security controls and remediation, vulnerability analysis, live monitoring, and other such tasks.

The network security segment is expected to be the largest market, by security type, during the forecast period.

The network security segment is estimated to have the largest market size during the forecast period. The growth in the network segment is associated with the rise in the number of security breaches targeting networks where hackers try to gain access to sensitive data. As the vulnerabilities have become more complex and sophisticated, the demand for network security products is expected to increase for countering threats.

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Key Questions Addressed in the Report:

1. Where will all the developments in the field of railway cybersecurity take the railway industry in the mid- to long-term?
2. How will the increasing adoption of high-speed trains and government safety and security norms impact this market?
3. What is the effect of IoT and AI in the global market?
4. Which are the key players in the market and how intense is the competition?
5. How will the advent of autonomous and connected trains impact the market?