Most digital transformation applications in railways are based on IP technologies and 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 huge 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.
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Market Overview and Dynamics
The railway cyber security market in North America is expected to grow from US$ 1,281.5 million in 2019 to US$ 2,205.2 million by 2027; it is estimated to grow at a CAGR of 7.2% from 2020 to 2027.The number and complexities of cyberattacks is growing which is driving the growth of railway cyber security across the region.However, the lack of skilled workforce is a hindering factor to the growth of the railway cyber security market. Further, the demand for cloud integration is growing, which is creating business opportunities for companies operating in the market to achieve a significant share of railway cyber security market.
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Key Market Segments
In terms of type, theinfrastructuralsegment accounted for the larger share of the North America railway cyber security marketin 2019. In terms of component, the solution segment held a larger market share of therailway cyber security marketin 2019. Further, in terms of security, the network securitysegment held a larger share of the market in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the railway cyber security marketin North Americaare company websites, annual reports, financial reports, national government documents, statistical database, and among others. Capgemini SE, Cisco Systems, Inc., Collins Aerospace, Hitachi, Ltd., Huawei Technologies Co., Ltd., IBM Corporation, Nokia Corporation, Siemens AG, and Thales Group are some of the major companies listed in the report.
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- To understand the North America railway cyber security marketlandscape and identifymarket segments that are most likely to guarantee a strong return
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- Obtain market revenue forecast for market by various segments from 2020 to 2027 inNorth Americaregion
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