The global Railway Cybersecurity Market size is expected to reach USD 14.13 billion by 2030 according to a new study by Polaris Market Research. The report “Railway Cybersecurity Market Share, Size, Trends, Industry Analysis Report, By Offering, By Security (Application Security, Network Security, Data Protection, Endpoint Security, System Administration), By Type, By Rail Type, By Region, Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Asia-Pacific is accounted for the highest shares in the global railway cybersecurity market in 2021 and is likely to dominate the industry in the upcoming scenario. Over the last decades, these countries have faced numerous barriers to railway cybersecurity infrastructure, which will be a fundamental problem causing data breaches, freight information and analytics, rail analytics, and passenger infotainment.
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The surge in demand for the freight and passenger capacity and escalating cases of cyber-attacks are primarily attributed to the industry growth. In addition, the rising numbers of smart city initiatives by the various governments are also supporting global industry development. Moreover, incorporating multiple novel technologies like IoT and AI, tied with the increasing demand for cloud-based services, further stimulates the industry demand in the forthcoming years.
Based on the type, the onboard train segment holds the largest revenue in the global industry in 2021 and is expected to grow at the highest CAGR in the forthcoming years. The most developed service or solution set facilitates safety, enhanced operation performance, and system administration.
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Some of the major key players operating in the global Railway Cybersecurity Market are Alstom, ABB, BAE Systems, Cervello, Bombardier, Cisco Systems, Inc., General Electric, Cylus Ltd., Hitachi Ltd., International Business Machine Corporation, Huawei Technologies Co., Ltd., Nokia Corporation, Siemens AG, Thales Group, Raytheon Technologies Corporation, and Webtec Corporation among others.
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