The railway cybersecurity market size is projected to reach US$ 18.02 billion by 2031 from US$ 7.51 billion in 2023. The market is expected to register a CAGR of 11.6% during 2023–2031. The rising number of cyberattacks and growing adoption of smart mobility solutions in railways are likely to be the key drivers and trends of the market.
The railway cybersecurity market is experiencing significant growth globally. This growth is attributed to the rising number of cyberattacks and the growing adoption of smart mobility solutions in railways. Moreover, the increasing cybersecurity laws and regulations and rising demand for cloud-based cybersecurity services are the factors anticipated to drive railway cybersecurity market growth in the coming years.
Cybersecurity in railways is becoming very important due to the increasing dependence on digital systems and technologies. As railways have become more modernized, they have adopted various computer-based systems to monitor and control operations, from signaling and track management to passenger management and ticketing. This digitalization has made rail systems more convenient and efficient for passengers and operators.
Critical infrastructures in railways are increasingly exposed to possible cyber-attacks. Connectivity and the use of technology in all sectors have improved the service provided to citizens, optimizing processes and resources and improving the quality of each operator’s actions. But this connectivity also has its dark side, facilitating the actions of malicious actors who can attack and disrupt the corresponding service. The sector faces several cyber threats that can significantly affect its operations. The main components that cyber-attacks could target include control and signaling systems, communication networks and traffic management systems, passenger information and ticketing systems, as well as maintenance and asset management infrastructure.
The rising demand for cloud-based cybersecurity services is anticipated to drive the market in the coming years. Cloud-based cybersecurity solutions can aid in the automatic management and monitoring of railway signalling systems. One can track the status of each signal using sensors and automatically change and modify settings as needed. It can assist in enhancing productivity and prevent problems before they occur. A sensor, for example, will notice an issue with a particular signal instantly. And on the cloud, changes will be made in real-time that affect only that signal. Trains can thus avoid those signals without being delayed or disrupted.
Key segments that contributed to the derivation of the railway cybersecurity market analysis are offering, security type, type, and application.
The geographic scope of the railway cybersecurity market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the railway cybersecurity market. High technology adoption trends in various industries in the North American region have fuelled the growth of the railway cybersecurity market. Factors such as increased adoption of digital tools and high technological spending by government agencies are expected to drive the North American railway cybersecurity market growth. Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the North American players to bring technologically advanced solutions into the market. In addition, the US has a large number of railway cybersecurity market players who have been increasingly focusing on developing innovative solutions. All these factors contribute to the region's growth of the railway cybersecurity market.
The regional trends and factors influencing the Railway Cybersecurity Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Railway Cybersecurity Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 7.51 billion |
| Market Size by 2031 | US$ 18.02 Billion |
| Global CAGR (2023 - 2031) | 11.6% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Offering
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Railway Cybersecurity Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Railway Cybersecurity Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The railway cybersecurity market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Railway Cybersecurity market are listed below:
The “Railway Cybersecurity Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The global railway cybersecurity market is expected to reach US$ 18.02 billion by 2031.
The expected CAGR of the railway cybersecurity market is 11.6%.
The key players holding majority shares in the global railway cybersecurity market are CAPGEMINI SE, Cisco Systems, Inc., Collins Aerospace, Hitachi, Ltd., Huawei Technologies Co., Ltd., IBM Corporation, Nokia Corporation, Selectron Systems AG, Siemens AG, and Thales Group.
The rising demand for cloud based security is anticipated to drive the market in the forecast period.
North America is anticipated to dominate the railway cybersecurity market in 2023.
The rising number of cyberattacks and the growing adoption of smart mobility solutions in railways are some of the factors driving the railway cybersecurity market.