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CHICAGO, October 21, 2022 (GLOBE NEWSWIRE) — Railway cyber security market According to a new report from MarketsandMarkets, it is estimated at US$6.2 billion in 2021 and is expected to grow at a CAGR of 9.4% during the forecast period, reaching US$10.6 billion by 2027.
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Various countries recognize that the development of railway infrastructure is one of the key factors driving economic development. That is why many countries and his OEMs are investing heavily in railway cybersecurity infrastructure. For example, in 2019 Wabtec launched two of his new products designed to modernize his 23,000 locomotives installed around the world. Wabtec has developed FDL Advantage, a fuel-saving engine upgrade package for the FDL locomotive platform. Another product is Modular Control Architecture – Fleet Migration (MCA FM). It is a next-generation control system alternative applicable across Wabtec’s locomotive installed base. Both solutions feature next generation data and software capabilities. Countries have adopted different technologies in their transport infrastructure and are focusing on R&D and innovation in rail infrastructure technology to meet future mobility challenges.
Onboard solutions are estimated to hold a large market share by type during the forecast period
In-vehicle railway cybersecurity is projected to grow at a higher CAGR during the forecast period of the railway cybersecurity market. More and more high-speed trains are equipped with advanced in-vehicle systems that pursue safety and convenience. These advanced features include infotainment systems, automatic doors and IP cameras. The demand for convenience and safety increases the number of advanced components in on-board rail systems. As automatic doors and IP cameras are vulnerable to cyberattacks, this will boost the market for railway cybersecurity providers and vendors around the world.
Data protection segment is estimated to be the largest segment by security type during the forecast period
Data protection focuses on protecting critical databases such as data, applications, database servers, and systems. Data protection applications aim to maintain the confidentiality, integrity, and availability of data. These solutions protect databases from unauthorized access, malware infections, and other threats and vulnerabilities. In May 2020, his IT network at Swiss rail car manufacturer Stadler was targeted with a malware attack to steal information. This data breach can mean the theft of sensitive data from customers and employees. In January 2019, the official online booking platform of China Railway (CR) suffered a massive data breach. Cybercriminals stole the personal information of approximately 5 million people, including names, ID numbers and passwords. These incidents are driving the growth of data protection solutions to prevent data breaches.
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Asia-Pacific is projected to grow fastest in railway cybersecurity market
Asia-Pacific is projected to be the fastest growing railway cybersecurity market, owing to increasing penetration of advanced technologies, rising national GDP, steady growth, and emerging economies. The APAC region covers some of the potential markets such as China, India, Japan and the rest of Asia Pacific. China is expected to lead the market, followed by India, Japan, and the rest of the Asia-Pacific region, in terms of share and growth rate across all countries during the forecast period.
The APAC region is expected to offer significant growth opportunities due to its untapped market strength. Growing awareness of driver safety and accident prevention, presence of major OEM players, growth in freight forwarding and logistics industry, emergence of 4G LTE technology, availability of embedded OEM cybersecurity solutions driving smarter North America and Europe This has led to the growth of the railroad car hiring market. The logistics sectors in India and China are on the brink of turmoil. Robust economic growth and technological improvements have brought about great development. Fundamental themes of economic growth, digital disruption, and changing customer preferences dominate, despite important country-specific trends and nuances. These strong themes are expected to shape the future of the logistics industry in the coming years. Based on trusted online cybersecurity data, dispatchers will be able to notify customers of changes in transportation schedules earlier than they can today, improving credibility, satisfying stakeholders and driving growth.
major market players
The report analyzes all major players Railway cyber security market Includes Thales Group (France), Siemens AG (Germany), Alstom (France), Wabtec (USA), and Nokia Networks (Finland).
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