The railway cyber security market was valued at US$ 5,916. 6 million in 2019 and is expected to grow at a CAGR of 8. 2% during the forecast period to reach US$ 11,001. 4 million by 2027. Digital transformation is enabling substantial advancements in railway operations and safety.
New York, July 21, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Railway Cyber Security Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Component ; Type ; Security Type" - https://www.reportlinker.com/p05932684/?utm_source=GNW
The integration of digital technology to automate various tasks is helping the railway industry to increase operational efficiency and reliability, which enhances the overall customer experience.
Most of the digital transformation applications in railways are based on IP technologies.Some of the common areas where digitization is being applied in railways include train control, maintenance monitoring, signaling control, passenger information systems, and video protection.
Along with its numerous benefits, digital transformation is also increasing the vulnerability of railways to various kinds of cyber-attacks.A large amount of IP traffic flows through the communications networks on a daily basis and such networks are targeted by cyber criminals to attack the railway infrastructure.
Hence, the demand for robust cyber security solutions and services is growing at an unprecedented rate to safeguard critical railways infrastructure from cyber threats.
The railway cyber security market is segmented into component, type, and security type.Based on component, the railway cyber security market is segmented into solution and services.
The solution segment is further sub-segmented into risk and compliance management, intrusion detection system, encryption, firewall, and antivirus.In 2019, the solution segment held the largest share of global railway cyber security market.
Based on type, the railway cyber security market is divided into infrastructural and on-board.Infrastructural segment is expected to be the fastest growing segment during the forecast period.
Based on security type, the railway cyber security market is segmented into network security, type security, data protection, end point security, and others. The network security segment contributed a substantial share in 2019 and data protection is projected to be the fastest growing sector owing to increasing number of data protection laws and regulations across regions.
The overall railway cyber security market size has been derived using both primary and secondary source.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the railway cyber security market.
The process also serves the purpose of obtaining overview and forecast for the railway cyber security market with respects to all the segments.It also provides the overview and forecast for the global railway cyber security market based on all the segmentation provided with respect to five major regions-North America, Europe, Asia Pacific, the Middle East and Africa, and South America.
Also, primary interviews were conducted with industry participants and commentators to validate data, as well as to gain more analytical insights into the topic.The participants who take part this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultant such as valuation experts, research analysts and key opinion leaders specializing in the railway cyber security market.
CAPGEMINI SE, Cisco Systems, Inc., Collins Aerospace, Hitachi, Ltd., Huawei Technologies Co., Ltd., IBM Corporation, Nokia Corporation, Selectron Systems AG, Siemens AG, and Thales Group are some of the major players operating in the global railway cyber security market.
Read the full report: https://www.reportlinker.com/p05932684/?utm_source=GNW
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