Railway Cybersecurity Market is estimated to be $6.2 billion in 2021 and is projected to grow at a CAGR of 9.4% during the forecast period, to reach $10.6 billion by 2027.
The key players considered in the analysis of the Railway Cybersecurity Market are Thales Group (France), Siemens AG (Germany), Alstom (France), Wabtec (US), and Nokia Networks (Finland).
Opportunity: Increasing demand for cloud-based services
The demand for cloud-based services, analytics, and mobile internet technologies is increasing due to their efficient IT management and reliable security environment. With the rapid increase in big data applications, the level of complexity is also expected to increase, given the sprouting data pool, emerging technologies, and constant need to optimize cost. These factors are expected to influence the growth of new analytics platforms and data storage.
The signalling system has been considered to operate on a closed network for safety. Currently, these systems are becoming more centralized and integrated and have become IT-based using regular computer and COTS (commercial off-the-shelf) components and thereby becoming vulnerable to cyberthreats. Thus, it becomes necessary to deploy cloud-based services in railways. Cloud computing uses the collected data and distributes data to one or more computer systems associated with performing different functions. Thus, minimizing the risk of a cyberattack on critical and non-critical data would further fuel the growth of the railway cybersecurity market.
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The onboard solution is estimated to hold the larger market share by type during the forecast period
The on-board railway cybersecurity is projected to grow at a higher CAGR during the forecast period for the Railway Cybersecurity Market, by type. The number of rapid railways primarily equipped with advanced onboard systems for safety and convenience is on the rise. These advanced features include an infotainment system, automatic doors, and IP cameras. The number of advanced components in onboard railway systems will increase because of the demand for convenience and safety. This will boost the market for railway cybersecurity providers and vendors across the globe as automatic doors and IP cameras are vulnerable to cyberattacks.
The Data Protection segment is estimated to be the largest segment by security type during the forecast period
Data protection focuses on securing critical databases, including data, applications, database servers, and systems. Data protection applications are aimed at maintaining confidentiality, integrity, and availability of data. These solutions protect databases from unauthorized access, malware infections, and other threats and vulnerabilities. In May 2020, the IT networks of the Swiss manufacturer of railway rolling stock, Stadler, were targeted in a malware attack to steal information. This data leak could mean the theft of sensitive data from customers or employees. In January 2019, the official online booking platform of the China Railways (CR) suffered a massive data breach. Cybercriminals stole the personal information of nearly five million people, which included names, ID numbers, and passwords. These incidents are driving the growth of data protection solutions to prevent a data breach.
The Asia Pacific is projected to be the fastest-growing in the Railway Cybersecurity Market
The Asia Pacific is projected to be the fastest-growing Railway Cybersecurity Market due to the increasing penetration of advanced technologies, increasing GDPs of countries, steady growth, and emerging economies. The APAC region covers some of the potential markets, namely, China, India, Japan, and the Rest of Asia Pacific. China is expected to lead the market followed by India, Japan, and the Rest of Asia Pacific in terms of share and growth rate among all countries during the forecast period.
The APAC region is expected to offer significant growth opportunities due to its untapped market strength. Increasing awareness about driver safety and accident prevention, the presence of leading OEM players, growing freight transportation and logistics industries, the advent of the 4G LTE technology, and the adoption of smart railcars in North America and Europe due to the availability of embedded OEM cybersecurity solutions are leading to market growth. The logistics sectors in India and China are on the cusp of disruption. Robust economic growth and technology improvements have led to significant developments. Despite significant country-specific trends and nuances, the underlying themes of economic growth, digital disruption and changing customer preferences prevail. These powerful themes are expected to shape the future of the logistics industry over the next few years. Based on reliable online cybersecurity data, dispatchers will be able to inform their customers about changes in transport schedules earlier than is possible presently, increasing reliability and satisfying stakeholders, thus driving growth.
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- In May 2021, Wabtec was awarded a supply contract worth USD 15 million by Delhi-Meerut Regional Rapid Transport Systems (RRTS). The company will be supplying advanced technology brake systems, pantographs, roof disconnector switches, and fully integrated passenger information systems to RRTS for building coaches for this project.
- In May 2021, Siemens announced the acquisition of RailTerm, a Canada-based rail service provider. This acquisition will help the company expand its product portfolio with on-ground track and signalling, electrification, and communication systems.
- In March 2021, Wabtec announced the acquisition of Nordco, a North American supplier of new, rebuilt, and used maintenance of way equipment having products such as mobile railcars movers and ultrasonic rail flaw detection technologies. Through this acquisition, the company aims to expand its product portfolio and widen its global presence.
- In March 2021, Thales developed the DIVA (Distributed Intelligent Video Analytics) solution for passenger railways. This solution will be useful for leveraging existing CCTV networks on stations and onboard trains to provide real-time information and passenger density
- In February 2020, Thales signed a supply contract with L&T Metro Rail Limited, Hyderabad (India), to supply advanced signalling and train control technology solutions. In January 2021, Nokia signed a supply contract with WESTbahn fleet, Austria. Nokia will be supplying train-to-ground solutions to the operator to enhance the user experience of the onboard passengers.
- In December 2020, Alstom and ASELSAN entered into a collaboration agreement to establish a framework of cooperation and coordination in the field of ETCS Signaling Onboard. The main objective of this collaboration is the establishment of a long-term partnership to enable the two leading companies to cooperate in the field of rail systems.
- In September 2020, Thales secured a supply contract in Vancouver’s Broadway Subway Project for the supply of Communications Based Train Control (CBTC) systems. The trains will be equipped with Thales’s SelTrac solutions.