Railway Cybersecurity Market Size, Share Statistics Report 2028

Railway Cybersecurity Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Offering [Solution (Risk and Compliance Management, Encryption, Firewall, Antivirus/Antimalware, Intrusion Detection/Intrusion Prevention, and Others) and Services], Security Type (Application Security, Network Security, Data Protection, Endpoint Security, and System Administration), Type [Operational Technology (OT) and Information Technology (IT)], and Application (Passenger Trains and Freight Trains)

Publication Month : Oct 2022

  • Report Code : TIPRE00007050
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 195
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[Research Report] The railway cybersecurity market is projected to grow from US$ 7,469.51 million in 2022 & it is estimated to grow at a CAGR of 10.7% from 2022 to 2028.

Railway operation and safety have significantly improved due to digital transformation in the railway industry. Integrating digital technology to automate various tasks helps the industry increase operational efficiency and reliability and enhance the overall customer experience. Most digital transformation applications in railways are based on IP technologies. Train control, maintenance monitoring, signaling control, and passenger information systems are common areas where digitization is applied in railways. The growing urbanization, smart cities, smart transportation, and smart railway management propel the development of internet-driven systems in the railway industry. Railway cybersecurity solutions and services protect against cyberattacks on the network, systems, and software associated with the railroad industry. Hence, the demand for railway cybersecurity solutions and services is increasing worldwide to safeguard the critical rail infrastructure from rising cyber threats, contributing to the railway cybersecurity market growth.

The railway cybersecurity market in Asia Pacific is estimated to grow at the highest CAGR during the forecast period. The railway cybersecurity market growth in the region is attributed to the presence of major players and increasing digitization by regional governments in urban transit and railway. Developing countries, including India and Taiwan, are investing aggressively in the development of metro infrastructure. The developed metro infrastructure is mostly connected and technologically advanced. The metros nowadays have automation level 3 or level 4. The increasing level of railway automation is fueling the demand for railway cybersecurity market.

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Railway Cybersecurity Market: Strategic Insights

Market Size Value inUS$ 7,469.51 Million in 2022
Market Size Value byUS$ 13,763.76 Million by 2028
Growth rateCAGR of 10.7% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
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Impact of COVID-19 Pandemic on Asia Pacific Railway Cybersecurity Market 

The COVID-19 pandemic caused huge disruptions in the growth of various industries in Asia Pacific. For instance, China is the global manufacturing hub for various industries and the largest raw material supplier. The lockdown of various plants and factories in China had affected the global supply chains and negatively impacted manufacturing, delivery schedules, and sales of various electronic products and components related to cyber security solutions. Digitalization and decarbonization of railways, harmonization of operational requirements and regulatory procedures, integration with other modes of transport, consolidation of freight, and stakeholder partnerships would offer lucrative opportunities for railways post-pandemic to enhance their competitiveness. Thus, the railway cybersecurity market is estimated to experience substantial growth over the next a few years. Moreover, Asia Pacific is characterized by the presence of many developing countries, a positive economic outlook, a high industrial presence, and a huge population. The growing urbanization and industrialization in developing countries of the region make it a promising railway cybersecurity market, as the investments in industrial development and automation are quite high in the region.

Lucrative Regions for Railway Cybersecurity Market

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Market Insights – Railway Cybersecurity Market

Rising Demand from Cloud-Based Cybersecurity Services

The effective IT management and dependable security environment have created ample demand for cloud-based services, analytics, and mobile internet technologies. The level of security complexity is also expected to increase due to the rapid proliferation of big data applications, emerging technologies, and the constant need to optimize costs. These factors would positively influence the development of new data storage and analysis platforms. The signaling system has been designed to operate on a closed network for security reasons. Currently, these systems are increasingly centralized and integrated and have become IT-based using regular computer and COTS (commercial off-the-shelf) components, thus becoming vulnerable to cyber threats. In railways, cloud computing uses information gathered and distributes it to one or more computer systems to perform various functions, such as railway signaling systems. Therefore, minimizing the risk of cyberattacks on critical and noncritical data would drive the railway cybersecurity market growth.

Offering-Based Market Insights

Based on offering, the railway cybersecurity market is bifurcated into solutions and services. The solutions segment accounted for a larger market share in 2021. With the increasing momentum of digital transformations across railway systems, cyber-security risk has increased due to the rising number of connected equipment and systems. Cyber-security players offer several solutions for railways, including encryption, compliance management, Intrusion Detection/Intrusion Prevention (IDS), antivirus, and a firewall. Also, the players offer many services, such as risk and threat assessment, support and maintenance, and design and implementation. The solutions provide advanced security from network threats, endpoints, applications, and device security.

Players operating in the railway cybersecurity market are mainly focused on developing advanced and efficient products.

  • In 2022, RazorSecure and Birmingham Centre for Railway Research and Education signed a memorandum of understanding (MoU) to leverage monitoring solutions for railway cybersecurity across the UK and EU railways.
  • In 2021, Razorsecure formed partnership with Comtest Wireless to offer a range of cybersecurity solutions for rail infrastructure, track, telecoms, signalling, and rolling stock assets.

Company Profiled:

  • Cisco Systems, Inc.
  • IBM Corporation
  • Thales Group
  • Siemens AG
  • Hitachi, Ltd.
  • ENSCO, Inc.
  • RazorSecure Limited
  • Alstom SA
  • Irdeto
  • Raytheon Technologies Corporation
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Offering, Security Type, Type, and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Austria, Brazil, Canada, China, Denmark, Finland, France, Germany, India, Italy, Japan, Mexico, Netherland, Norway, Poland, Russian Federation, Saudi Arabia, South Africa, South Korea, Sweden, Switzerland, Taiwan, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions

Who are the major vendors in the Railway cybersecurity market?

Cisco Systems, Inc.; Capgemini SE; Huawei Technologies Co., Ltd.; IBM Corporation; Collins; Thales Group; Nokia Corporation; Siemens AG; Hitachi, Ltd.; Selectron Systems AG; ENSCO, Inc.; RazorSecure Limited; and Alstom SA Company are the leading companies in the Railway cybersecurity market.

Which region to dominate the Railway cybersecurity market in the forecast period?

Asia Pacific dominated the Railway cybersecurity Market in 2021.

What are the future trend for Railway cybersecurity market?

The effective IT management and dependable security environment have created ample demand for cloud-based services, analytics, and mobile internet technologies. The level of security complexity is also expected to increase due to the rapid proliferation of big data applications, emerging technologies, and the constant need to optimize costs. These factors would positively influence the development of new data storage and analysis platforms. The signaling system has been designed to operate on a closed network for security reasons.

What are market opportunities for Railway cybersecurity market?

The digital transformation across industries makes cyber security a crucial need for enterprises across the world. In addition, the increasing complexity and frequency of cyber-attacks in critical industries, including logistics & transportation, energy & power, and IT & telecom, is changing the security landscape. It generates the need to establish stringent regulations and frameworks that can help in tackling the fast-evolving cyber security landscape.

What are reasons behind Railway cybersecurity market growth?

The rising number of cyberattacks and the growing adoption of smart mobility solutions in railways are key factors driving the global railway cybersecurity market. Despite a few limitations, the rise in cybersecurity laws and regulations would provide ample growth opportunities to market players during the forecast period. Moreover, the increasing demand for cloud-based cybersecurity services is anticipated to fuel the growth of the market in the coming years.

The List of Companies - Railway Cybersecurity Market

  2. Cisco Systems, Inc.
  3. Collins Aerospace
  4. Hitachi, Ltd.
  5. Huawei Technologies Co., Ltd.
  6. IBM Corporation
  7. Nokia Corporation
  8. Selectron Systems AG
  9. Siemens AG
  10. Thales Group

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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