The Europe Railway Cyber Security Market is growing along with the Technology, Media and Telecommunications industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
Most digital transformation applications in railways are based on IP technologies and some of the common areas where digitization is being applied in railways include train control, maintenance monitoring, signaling control, passenger information systems, and video protection. With its numerous benefits, digital transformation is also increasing the vulnerability of railways to various kinds of cyber-attacks. A huge IP traffic flows through the communications networks on a daily basis and such networks are targeted by cyber criminals to attack the railway infrastructure. Hence, the demand for robust cyber security solutions and services is growing at an unprecedented rate to safeguard critical railways infrastructure from cyber threats.
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Market Overview and Dynamics
The railway cyber security market in Europe is expected to grow from US$ 2,358.1 million in 2019 to US$ 4,400.3 million by 2027; it is estimated to grow at a CAGR of 8.3% from 2020 to 2027.The increasing number and complexities of cyberattacks is driving the growth of railway cyber security market across the region.However, the lack of skilled workforce is a hindering factor to the railway cyber security market growth. Further, the growing demand for cloud integration is creating business opportunities for companies operating in the market to gain a significant share of railway cyber security market.
Key Market Segments
In terms of type, theinfrastructuralsegment accounted for the larger share of the Europerailway cyber security marketin 2019. In terms of component, the solution segment held a larger market share of therailway cyber security marketin 2019. Further, in terms of security, the network securitysegment held a larger share of the market in 2019.
These factors are expected to offer broad growth opportunities in the Technology, Media and Telecommunications industry and this is expected to cause the demand for Europe Railway Cyber Security Market in the market.
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EUROPERAILWAY CYBER SECURITY MARKET SEGMENTATION
EuropeRailway Cyber Security Market,by Solution
EuropeRailway Cyber Security Market,by Type
EuropeRailway Cyber Security Market,by Security Type
- Network Security
- Application Security
- Data Protection
- End Point Security
EuropeRailway Cyber Security Market,by Country
- Rest of Europe
EuropeRailway Cyber Security Market-Companies Mentioned
- Capgemini SE
- Cisco Systems, Inc.
- Collins Aerospace
- Hitachi, Ltd.
- Huawei Technologies Co., Ltd.
- IBM Corporation
- Nokia Corporation
- Selectron Systems AG
- Siemens AG
- Thales Group
Major Sources and Companies Listed
A few major primary and secondary sources referred while preparing this report on the railway cyber security marketin Europeare company websites, annual reports, financial reports, national government documents, statistical database, and among others. Capgemini SE, Cisco Systems, Inc.,Selectron Systems AG, Collins Aerospace, Hitachi, Ltd., Huawei Technologies Co., Ltd., IBM Corporation, Nokia Corporation, Siemens AG, and Thales Group are some of the major companies listed in the report.
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