North America 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 North America Railway Cybersecurity Market would witness market growth of 8.3% CAGR during the forecast period (2021-2027).
The installation of smart digitalized railway systems needs combined efforts from all the stakeholders like telecom operators, service providers, infrastructure providers, public sectors, manufacturers, and user groups. Various regulatory bodies are increasingly deploying Public Private Partnership (PPP) models, which facilitate the private sector organizations participate in digital, smart, and connected railways efforts of the governments for installing and financing transportation projects. This is expected to positively impact the demand for various kinds of railway cybersecurity projects around the world.
The presence of leading railways cybersecurity vendors in the North American region is expected to create lucrative growth opportunities over the forthcoming years. Moreover, the region is thriving in terms of railway infrastructure which would largely security cybersecurity solutions. In addition, as this region is an extremely developed region, hence the government has a sufficient budget to invest in railways development so as to prevent any untoward incidents.
Furthermore, it is extremely important to protect the data and other critical information of the people associated with railways, thus cybersecurity solutions are getting increasingly important to implement. These factors are likely to create bright growth prospects for the regional railway cybersecurity market during the forecast period.
The US market dominated the North America Railway Cybersecurity Services Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $815 million by 2027. The Canada market is experiencing a CAGR of 12.9% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 11.9% 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 U.S., Mexico, Canada, and Rest of North America.
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
- Rest of North America
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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