Pune, India, Jan. 19, 2021 (GLOBE NEWSWIRE) -- The global railway cybersecurity services market size is expected to make substantial gains in the forthcoming years owing to the rising presence of startups developing cyber-security solutions for the rail industry. Fortune Business Insights™ provides this information in its report, titled “Railway Cyber Security Services Market Size, Share & Industry Analysis, By Type (Infrastructural, On-board), By Security Type (Network Security, Application Security, Data Protection, End Point Protection, and System Administration), By Component Type (Solutions, Services) and Regional Forecast 2020-2027”. Railway operations are becoming increasingly data-driven, underpinned by the necessity to digitize these operations to enhance efficiency and productivity in the rail sector. To serve these emerging needs, several startups have cropped up, offering novel solutions to safeguard railways from plausible cyber-attacks.
For example, the Israeli startup, Cervello, has developed a cyber-security platform for railway operators, based on artificial intelligence (AI) and advanced analytics, enabling end-to-end visibility of rail infrastructure. Another startup, Shift5, domiciled in the US, provides security solutions for critical railway infrastructure that not only prevents cyber-attacks but also allows operators to enhance the safety of passengers. On the other hand, the Spanish startup, Barbara IoT, utilizes the industrial internet of things (IIoT) to provide cyber-security solutions for the railway industry. The promising growth of such startups is, thus, brightening the outlook of the market for railway cybersecurity services.
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List of Top Players Profiled in the Railway Cyber Security Services Market Report:
- General Electric
- Nokia Networks
- United Technologies
Highlights of the Report:
The report contains an unmatched analysis of the key market drivers, trends, and constraints. It also offers comprehensive overview of the general industry outlook and upcoming opportunities. Additionally, the report provides an in-depth, qualitative, and quantitative study of all possible market segments. Lastly, the report shares an exhaustive evaluation of the regional developments and the competitive landscape influencing the market.
Increasing Number of Data Breaches on Railway Networks to Bolster Market Growth
With the increasing adoption of virtual technologies in the rail industry, railway operations have become the target of frequent cyber-attacks in recent times. For example, in May 2020, Stadler, the Swiss rolling stock manufacturer, faced a malware attack on its IT network, leading to the theft of sensitive customer and operational data. Similarly, C3UK, the network rail and service provider, revealed that its database of nearly 146 million records was exposed online in March 2020.
Railway cybersecurity services have come to the fore to prevent and counter such data infringement and specialists in this space are steadily gaining ground. For example, the US-based rail cyber-security company, Cyberbit, was recently selected by a major metropolitan rail authority to deploy a comprehensive cyber-security system, covering 150 stations and hundreds of miles of tracks. As railways get equipped with smart technologies, the need for effective data protection solutions will inevitably heighten in this industry.
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Modernization of Railway Infrastructures to Propel the Market in Europe
Among regions, Europe is expected to dominate the railway cybersecurity services market share in the forthcoming years on account of the rapid up-gradation of railway infrastructures in the region. Both private companies and national governments have been investing massively to advance the operational technologies powering the rail industry in Europe. Moreover, the single market of the European Union (EU), which allows uninterrupted transport of goods and people across borders, has intensified the need for holistic, cutting-edge cyber-security systems to protect critical data. In the Asia Pacific, the market is set to experience booming growth due to the vast rail networks in the region and the increasing penetration of digital technologies in the rail industry in India and China.
Strategic Alliances between Rail Operators and Key Market Players to Feed Competition
Key players in this market are deepening their engagement with rail operators across different geographies. These partnerships are being further strengthened by the escalating demand for railway cybersecurity services in the rail sector. In the process, leading companies are able to widen their offerings and diversify their portfolios as well as expand their presence in the international arena.
- February 2020: Nokia and the Japanese rail operator, Odakyu Electric Railway, joined forces to implement an AI-based system to monitor real-time rail crossing. Nokia’s SpaceTime scene analytics, powered by machine learning, is being tested by Odakyu to identify mechanisms to make railroad crossing safer.
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