The Latin America, Middle East and Africa Railway Cybersecurity Market would witness market growth of 12.9% CAGR during the forecast period (2021-2027).
As the region is home to some of underdeveloped countries, such countries do not have sufficient budget to upgrade their existing railway infrastructure and implement cybersecurity solutions so as to prevent any kind of unauthorized intrusion. However, the region is having unexplored potential for railway cybersecurity solutions which can motivate the global players to invest in this region, thereby gaining a prominent place. Railway organizations of this region are searching for methods to strengthen their cybersecurity infrastructure as they are aware of the fact that cybersecurity is a crucial component in railway safety. Therefore, these factors play a major role in augmenting the growth of the regional railway cybersecurity market in the years to come.
Services like risk assessment, designing, and development are the beginning phases of any cybersecurity solution utilized in railways, while maintenance and support services are included in the post-implementation phase. As there is a constant evolvement in cyber-attacks, the requirement for support and maintenance services is growing during the lifetime of cybersecurity solutions. The demand for cybersecurity services is expected to be fueled by the surge in the demand for secure and safe connected railways infrastructure. In addition, the adoption of IoT in railway systems will become a major factor in boosting the growth of this segment.
The Brazil market dominated the LAMEA Network Security Railway Cybersecurity Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $35.7 million by 2027. The Argentina market would witness a CAGR of 13.4% during (2021 - 2027). Additionally, The UAE market is expected to witness a CAGR of 12.4% during (2021 - 2027).
Based on Offering, the market is segmented into Solution and Services. Based on Type, the market is segmented into Infrastructural and On-board. Based on Application, the market is segmented into Passenger Trains and Freight Trains. Based on Security Type, the market is segmented into Application Security, Data Security, Network Security, System Administration, End Point Security, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Railway Cybersecurity Market is Predict to reach USD 10.2 Billion by 2027, at a CAGR of 9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Siemens AG, Nokia Corporation, Cisco Systems, Inc., IBM Corporation, Tech Mahindra Limited, Toshiba Corporation, Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Hitachi, Ltd. and ENSCO, Inc.
By Offering
By Type
By Application
By Security Type
By Country
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