ID: MRFR/ICT/7270-HCR | 100 Pages | Published By Shubham Munde on March 2023
Global Railway Platform Security Market is expected USD 2.67 billion 2027 to register a CAGR of 5.5% during the review period, 2019–2027.
$2.67 billion
5.5%
North America
2020-2027
Market Snapshot
Global Railway Platform Security Market is expected to register a CAGR of 5.5% during the review period, 2019–2025.
The factors responsible for the growth of the railway platform security market include rising need to minimize the risk of unauthorized access to platforms and increasing demand for additional support and advanced solutions for security management. Railway passenger security is interlinked with the safety and security of railway assets such as railway platforms and trains. Minimizing unauthorized access with the help of control systems ensures a high level of security for passengers as well as goods at the railway platform. Several measures are taken to restrict unauthorized access in the form of fencing for railway tracks, installation of CCTVs at high-risk locations, the provision of information to risk groups, and the intensification of supervision. Access control systems play a vital role in preventing unauthorized access by automating entry and exit operations and securing crucial areas. Moreover, the entry of unauthorized persons and a large number of visitors lead to unmanageable crowds on railway platforms with the presence of unmanned multi-entry and exit points at stations that can be vulnerable to security threats; hence, the need to minimize the risk of unauthorized access to platforms has increased. The global railway platform security market has been segmented on the basis of component, application, and region. Under the component segment solutions sub-segment is attributed to holding potential growth prospects whereas, among the services sub-segment, managed services are expected to grow significantly during the forecast period.
Key Players
The Global Railway Platform Security Market is characterized by the presence of several regional and local providers. Some of the key players in the market are Honeywell (US), Indra Sistemas (Spain), Huawei (China), Bosch (Germany), Atos (France), FLIR Systems (US), Axis Communications (Sweden), talent (UK), Zhejiang Dahua (US), Hikvision (China), STANLEY (US), Wabtec (US), L&T Technology Services (India), Mitsubishi Electric (Japan), Genetec (Canada), Knorr-Bremse (Germany), Nabtesco (Japan), Senstar (Canada), Avnet (US), and Anixter (US) among others.
Key Developments
Market Segmentation
The Global Railway Platform Security Market has been segmented based on components, applications, and regions.
By component, the market has been segmented into solutions and services. The solution segment covers sensors, alarm systems, and video surveillance systems. The various types of sensors included in the sensors segment are microwave sensors, infrared sensors, fiber optic sensors, radar sensors, and other sensors. The video surveillance systems segment has been further segmented into software and hardware. The hardware segment includes cameras and storage devices, whereas, the software segment includes intelligent video analytics software and video management software. By services, the market has been divided into professional services and managed services.
 By application, the market has been segmented into subways and trains.
The regions included in the study are North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
Regional Analysis
Geographically, the global railway platform security market has been categorized into four regions, namely North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
North America is expected to dominate the global railway platform security market with the highest market share, whereas, Asia-Pacific (APAC) is expected to be the fastest-growing region in the railway platform security market due to the increasing adoption of advanced technologies and increasing GDP of Asia-Pacific countries. Also, potential economies in the Asia-Pacific region such as China, Korea, Australia, Singapore, Hong Kong, and India are rapidly investing in the technological transformation which is expected to fuel the growth of the railway platform security market in this region.
Key Questions Addressed by the Report
Report Attribute/Metric | Details |
---|---|
Market Size | 2027: Significant Value |
CAGR | 5.5% (2019-2025) |
Base Year | 2019 |
Forecast Period | 2020-2027 |
Historical Data | 2018 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Component, By Sensor, By Software |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Honeywell (US), Indra Sistemas (Spain), Huawei (China), Bosch (Germany), Atos (France), FLIR Systems (US), Axis Communications (Sweden), talent (UK), Zhejiang Dahua (US), Hikvision (China), STANLEY (US), Wabtec (US), L&T Technology Services (India), Mitsubishi Electric (Japan), Genetec (Canada), Knorr-Bremse (Germany), Nabtesco (Japan), Senstar (Canada), Avnet (US), and Anixter (US) |
Key Market Opportunities | The factors responsible for the growth of the railway platform security market include rising need to minimize the risk of unauthorized access to platforms and increasing demand for additional support and advanced solutions for security management. |
Key Market Drivers | Asia-Pacific (APAC) is expected to be the fastest-growing region in the railway platform security market due to the increasing adoption of advanced technologies and increasing GDP of Asia-Pacific countries. |
2019–2025 is the forecast period for the global railway platform security market.
The market would witness growth at a CAGR of 5.5%.
Indra Sistemas, Bosch, Atos, FLIR Systems, Axis Communications, Talent, Huawei (China) are the top investors of the market.
The segments involved in the study of the market are component and applications.
The factors responsible for the growth of the railway platform security market credits to growing need to minimize risk of unauthorized access to platforms and escalating demand for additional support and advanced solutions for security management.