Global Railway Cyber Security Market: Overview
The global railway cyber security market is expected to witness a robust growth in the near future. Technological advancement like automation and central control management systems are expected to drive growth of the market.
These centralized systems are becomingly increasingly important as high-speed trains and metros become widespread globally. Today, centralized systems can manage entire workloads of railway operations including rail traffic management, automation of traffic, and signaling. The growing dependence of these systems also makes them vulnerable to cyber-attacks.
Transparency Market Research (TMR) reports sheds some detailed findings about the share, size, growth, and trends in the global railway cyber security market during the forecast period.
Want to know the obstructions to your company’s growth in future? Request a brochure here
Global Railway Cyber Security Market: Notable Developments
Some of key developments in this area of global cybersecurity market are as follows:
- In 2016, San Francisco transit system was attacked with ransomware. The attackers demanded 70,000 USD in return. Similarly, Colorado department of Transportation shut down in 2018, due to a ransomware attack on 2000 computers. Moreover, due to cyber security threats to other US departments, a currently Chinese hand behind these attacks is suspected and a senate investigation in the US is underway.
- In a similar twist, US senator Ed Markey with others has put forward two bills in the senate which will require the US government to make mandatory checks before purchasing hardware railway equipment from China. This is a move which is expected to add fuel to the fire in the recent trade war.
- Moreover, it is also an incident similar to the Huawei case, wherein the US claims there is a potential espionage threat. These bills and atmosphere of uncertainty can hamper growth of the railway cyber security market if it persists for a long duration.
Global Railway cyber security market: Drivers and Restraints
New Policies to Boost Market
A new insurance policy is launched in Germany which provides more assurance in tackling the menace of cybersecurity. The policy framework provides ratings based on the rail cyber index designed by experts is expected to aid in the growth of the global railway cyber security.
Additionally, the insurance will cover new areas such as extortion through ransomware, loss of customer data, and system breakdown emergencies. New insurance policies and framework are expected to provide impetus to adopting cyber security framework as these are often essential for insurance pay-outs. All these factors are expected to push the expansion of the global railway cybersecurity market.
New Technologies to Promote Growth
Apple purchased a division of Intel working on 5G modems. This development is significant as it gives wings to the ambition of independently developing US portfolio on 5G technology. This technology is expected to make deliver incredible data speeds making it easier to support technologies like video communication, artificial intelligence, and general connectivity.
Apple can complete the 5G upgrade within a couple of years to gain huge stride towards the expansion of the railway cyber security market. The 5G technology can also provide a major boost to the central monitoring system with real-time video communication and technologies like hologram, owing to the surge of the global railway cybersecutity market over the forecast period.
Looking for Regional Analysis or Competitive Landscape in Railway Cyber Security Market, Ask for a customized Report here
Global Railway cyber security market: Geographical Outlook
The global railway cyber security market is expected to witness robust growth in Europe, and Asia Pacific. The advent of new systems and frameworks like insurance are expected to provide major boost to the market in Europe. Additionally, growing threats of terrorist attacks are also expected to provide a major boost to the global railway cyber security market.
The major infrastructure in Asia in countries like China, and India are expected to drive the global railway cyber security market. Chinese companies are undertaking several large projects in Africa as well. This is expected to provide a major boost to the global cyber security market as focus is expected to shift towards long term goals such as cyber security.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.