Asia Pacific Railway Cyber Security Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Component, Type, Security Type, and Country

The railway cyber security market in APAC is expected to grow from US$ 1,661.7 million in 2019 and is projected to reach US$ 3,503.6 million by 2027; it is expected to grow at a CAGR of 10.0% from 2020 to 2027. The increasing complexity as well as frequency of cyber-attacks in critical industries such as energy & power, IT & telecom, and transportation is changing the security landscape and thus generating the need to establish stringent regulations & frameworks that can help in tackling this fast evolving cyber security landscape. Various governments and regulators across countries are in the process to formulate effective regulations, laws, and compliances related to cyber security. Therefore, growing cybersecurity concerns are expected to drive the growth of railway cybersecurity market during the forecast period. However, the lack of skilled workforce might hinder the growth of the APAC railway cyber security market. The rising cyber security concerns and stringent regulations are creating opportunities for the companies operating in the market to gain a large share of railway cyber security market in APAC region.

Based on the security type, the railway cyber security market is segmented into application security, data protection, network security, end point security, and others. In terms of security type, network security segment led the railway cyber security market in 2019, and the same segment is estimated to dominate the market during the forecast period. Growth in the network security segment is attributed to the increasing number of security breaches targeting networks where hackers are trying to access sensitive data. As the vulnerabilities become more complex and sophisticated, it is expected that the demand for network security products will increase for countering threats. The railway cyber security market is competitive in nature with the presence of a large number of players operating in the railway cyber security market. The data protection segment is expected to grow at highest CAGR in railway cyber security market.

China is the global manufacturing hub for various industries and the largest raw material supplier. It was also one of the worst affected COVID-19 countries (with close to 84,000 cases and 4,600 deaths) during the first quarter of 2020. The lockdown of various plants and factories in China had affected the global supply chains and negatively impacted manufacturing, delivery schedules, and sales of various electronic products and electronic components.

The overall APAC railway cyber security market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the railway cyber security market. The process also serves the purpose of obtaining an overview and forecast for the APAC railway cyber security market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who take part in such a process include industry expert such as VPs, business development managers, railway cyber security market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the APAC railway cyber security market are Capgemini SE, Cisco Systems, Inc., Collins Aerospace, Hitachi, Ltd., Huawei Technologies Co., Ltd., IBM Corporation, Nokia Corporation, Selectron Systems AG, Siemens AG, and Thales Group are among a few players operating in the APAC railway cyber security market.

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