The railway cybersecurity market will double in the next ten years
In particular, Siemens, Alstom, Wabtec and Thales are named as key players in the field of cyber security.
Market Research Future (MRFR) company analysts have presented a study of the railway cybersecurity market with a forecast for the current decade – its results show that this market will more than double over the period under review, from 6.6 billion to 13.9 billion dollars at average annual growth of 8.6%.
This was reported by the railway magazine Railway Supply.
It is noted that the driving force in the market are factors such as the need to minimize the risk of unauthorized access to data and the growing demand for advanced security control solutions.
The introduction of automation technologies in the railway industry also contributes to growth. In addition, the targeted spread of the Internet of Things expands the possibilities of cyber threats on railways and transport infrastructure.
“The growing number of cyberattacks is creating a huge demand for operational safety and efficient rail systems. As the need for cybersecurity solutions grows, a significant increase in market revenue is projected, ”the MRFR said.
According to the company, the key players in the field of railway cybersecurity are Siemens (Germany), Thales (France), Alstom (France), Hitachi (Japan), Wabtec (USA), Nokia (Finland), Cisco (USA), IBM (USA), Raytheon (USA), Toshiba (Japan) and Huawei (China).
At the same time, a significant share of the market falls on the Asia-Pacific region, including Japan, China and India.
According to analysts the main factors, which hinder the development of the railway cybersecurity market, are the slow pace of technology development and high costs for the deployment of systems.
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