Asia Pacific Railway Cybersecurity Market By Offering (Solution and Services), By Type (Infrastructural and On-board), By Application (Passenger Trains and Freight Trains), By Security Type (Application Security, Data Security, Network Security, System Administration, End Point Security, and Others), By Country, Growth Potential, Industry Analysis Report and Forecast, 2021 - 2027
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Market Report Description
The Asia Pacific Railway Cybersecurity Market would witness market growth of 9.8% CAGR during the forecast period (2021-2027).
The railway industry had no other option than to adopt a complete shift from any traditional technology that the market has been adopting. This will assist the complete system in becoming highly flexible and adaptable, and it will also facilitate the massive adoption of technology advancements in the long run. This will eventually create various sorts of changes in systems lifecycles, central control, and IT systems.
With the rising focus on high-speed rail initiatives in China, there is a hefty investment being put in the digital rail infrastructure and equipment in the country. High-speed rails can operate in different infrastructures and therefore operate with advanced communication & management solutions. Hence, the demand for railway cybersecurity around the world would be boosted by the constantly growing deployment of connected high-speed trains.
The APAC region would create new avenues for the players operating in the global railway cybersecurity market due to its unexplored market potential. The growing amount of awareness regarding driver safety and accident prevention, the existence of major OEM players, increasing freight transportation and logistics industries, the launch of the 4G LTE technology, and the massive adoption of smart railcars are expected to boost the availability of OEM cybersecurity services, thereby leading to the market growth. The logistics sector in China and India are on the verge of disruption. In addition, various advancements have created strong economic developments and technological enhancements.
Moreover, the surge in the number of railway projects in various countries of this region is expected to create bright prospects for the regional railway cybersecurity market. Therefore, these factors would propel the demand & growth of railway cybersecurity solutions across this region.
The China market dominated the Asia Pacific Freight Trains Railway Cybersecurity Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $266.6 million by 2027. The Japan market is showcasing a CAGR of 10.8% during (2021 - 2027). Additionally, The India market is poised to grow at a CAGR of 12% during (2021 - 2027).
Based on Offering, the market is segmented into Solution and Services. Based on Type, the market is segmented into Infrastructural and On-board. Based on Application, the market is segmented into Passenger Trains and Freight Trains. Based on Security Type, the market is segmented into Application Security, Data Security, Network Security, System Administration, End Point Security, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Siemens AG, Nokia Corporation, Cisco Systems, Inc., IBM Corporation, Tech Mahindra Limited, Toshiba Corporation, Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Hitachi, Ltd. and ENSCO, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Passenger Trains
- Freight Trains
By Security Type
- Application Security
- Data Security
- Network Security
- System Administration
- End Point Security
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- ABB Group
- Siemens AG
- Nokia Corporation
- Cisco Systems, Inc.
- IBM Corporation
- Tech Mahindra Limited
- Toshiba Corporation
- Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
- Hitachi, Ltd.
- ENSCO, Inc.
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