Increasing number cyber-attacks and supporting regulations to fuel the growth of Europe Railway Cyber Security Market during 2020–2027
According to a new market research study on “Europe Railway Cyber Security Market to 2027 – Regional Analysis and Forecast by Component, Type, Security Type “the market is expected to reach US$ 4,400.3 million by 2027 from US$ 2,358.1 million in 2019. The market is estimated to grow at a CAGR of 8.3 % from 2020 to 2027. The report provides trends prevailing in the Europe railway cyber security market along with the drivers and restraints pertaining to the market growth. Growing digitization and increasing complexities of cyberattacks are the major factors driving the growth of the railway cyber security market. However, lack of skilled workforce might hinder the growth of Europerailway cyber security market.
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The market for railway cyber security marketin Europe is segmented into component, type, security type, and country. Based on component, the market is segmented into solution and services. In 2019, the solutionsegment held the larger share of the Europerailway cyber security market. Based on type, the railway cyber security marketis segmented into infrastructural and on-board. Infrastructural segmentis expected to the faster growing segment during the forecast period.Based onsecurity type, the market is bifurcated into network security, application security, data protection, end point security, and others. The network security segment contributed a substantial share in the Europerailway cyber security marketin 2019.
Capgemini SE, Cisco Systems, Inc., Collins Aerospace, Hitachi, Ltd., Huawei Technologies Co., Ltd., IBM Corporation, Nokia Corporation, Selectron Systems AG, Siemens AG, and Thales Groupare among the leading companies in the Europerailway cyber security market.The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2017,Siemens launched Digital Rail Services in the US, a new business using intelligent sensors as well as advanced software platforms on the country’s rail systems. Apart from this, additional capabilities included advanced cyber-security and guidance services.
Market Introduction
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. 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.
Europe Railway Cyber Security Strategic Insights
Strategic insights for the Europe Railway Cyber Security provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Europe Railway Cyber Security Report Scope
| Report Attribute | Details |
| Market Size (2019) | US$ 2,358.1 Million |
| Market Size (2027) | US$ 4,400.3 Million |
| CAGR (2020–2027) | 8.3% |
| Historical Data | 2017–2018 |
| Forecast Period | 2020–2027 |
| Segments Covered | Component, Type, Security Type |
| By Component | Solution, Services |
| By Type | Infrastructural, On-Board |
| By Security Type | Network, Application, Data, Endpoint Security |
| Regions Covered | Europe (UK, Germany, France, Russia, Italy, Rest of Europe) |
| Key Companies | Capgemini, Cisco, Collins Aerospace, Hitachi, Huawei, IBM, Nokia, Selectron, Siemens, Thales |
Europe Railway Cyber Security Regional Insights
The geographic scope of the Europe Railway Cyber Security refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
Market Overview and Dynamics
The railway cyber security market in Europe is expected to grow from US$ 2,358.1 million in 2019 to US$ 4,400.3 million by 2027; it is estimated to grow at a CAGR of 8.3% from 2020 to 2027.The increasing number and complexities of cyberattacks is driving the growth of railway cyber security market across the region.However, the lack of skilled workforce is a hindering factor to the railway cyber security market growth. Further, the growing demand for cloud integration is creating business opportunities for companies operating in the market to gain a significant share of railway cyber security market.
Key Market Segments
In terms of type, theinfrastructuralsegment accounted for the larger share of the Europerailway 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 while preparing this report on the railway cyber security marketin Europeare company websites, annual reports, financial reports, national government documents, statistical database, and among others. Capgemini SE, Cisco Systems, Inc.,Selectron Systems AG, 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.
Reasons to buy report
- To understand the Europerailway cyber security marketlandscape and identifymarket segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for Europerailway cyber security market
- Efficiently plan M&A and partnership dealsin Europerailway cyber security marketby identifying market segments with the most promising probable sales
- Helps to takeknowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europerailway cyber security market
- Obtain market revenue forecast for market by various segments from 2020 to 2027 inEuroperegion
EUROPERAILWAY CYBER SECURITY MARKET SEGMENTATION
| Category | Segments |
| By Solution | Solutions, Services |
| By Type | Infrastructural, On-Board |
| By Security Type | Network Security, Application Security, Data Protection, End Point Security, Others |
| By Country | Germany, France, Italy, UK, Russia, Rest of Europe |
| Key Companies Mentioned | Capgemini SE, Cisco Systems, Collins Aerospace, Hitachi, Huawei, IBM, Nokia, Selectron Systems, Siemens, Thales |
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Akshay
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