Railways transport huge loads of cargo and carry millions or even billions of travelers every year. Also, to meet the increasing demand, rail companies heavily rely on reliable and effective asset operations. In addition, to ensure the safety of the goods and passengers railway stations require proper security arrangements and access control systems. Hence, such factors driving the demand for railway platform security solutions.
The global railway platform security market size is projected to reach over USD 2,700 million by 2025. This can be attributed to the need to eliminate the unauthorized entries on railway platforms. Also, the growing need for advanced security management solutions is boosting the global Railway Platform Security market growth. Moreover, increasing the need to enhance platform security due to growing cases of suicides is also driving the market growth.
However, the high initial deployment costs are anticipated to hamper the market growth. Furthermore, increasing smart city initiatives across the globe are anticipated to provide growth opportunities for the market.
Key Segments of the Global Railway Platform Security Market
Component Overview, 2018-2025 (USD Million)
- Platform Edge Doors
- Alarm Systems
- Surveillance Systems
- Managed Services
- Professional Services
Application Overview, 2018-2025 (USD Million)
Regional Overview, 2018-2025 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global railway platform security market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global railway platform security market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the railway platform security industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on components and applications. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global railway platform security market. The report will benefit: Every stakeholder involved in the railway platform security market.
- Managers within the railway platform security industry looking to publish recent and forecasted statistics about the global railway platform security market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global railway platform security market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Railway has been one of the most secure and efficient modes of transport and a large number of individuals prefer railways for traveling as it’s cost-effective. However, for the last few decades, incidents such as suicides, theft, and terrorist attacks have risen significantly due to inefficiency in managing a large number of travelers. Hence, the demand for railway platform security has significantly risen in the past few years. Moreover, the railway platform securities solutions further help in enhancing railway management systems and other operational efficiencies. Therefore, such factors combined driving the adoption of platform security solutions among railway organizations globally.
Based on the component segment, the market is divided into solutions and services. The solutions and services segments are further classified into sub-segments. The solutions segment comprises sensors, platform edge doors, alarm systems, and surveillance systems. The services segment is bifurcated into managed services and professional services. In the year 2019, the solutions segment accounted for the highest market revenue and it is anticipated to hold the major market share throughout the forecast period. The key reason behind the dominance of this segment is the growing deployment of security and surveillance systems to secure railway platform perimeter. On the contrary, the services segment accumulated the highest growth and it is expected to keep its position during the forecast period.
Based on the application, the market is segmented into the subway and trains. The subway segment leads the market growth in 2019 and it is expected to maintain its position throughout the forecast years. On the contrary, the trains segment accounted for the highest growth and it is expected to grow at a significant rate over the forecast period. Increasing deployment of security solutions due to the increasing need to ensure public safety is boosting the growth of this segment.
The Asia-Pacific region accounted for the major market share in the year 2019 and it is expected to keep its position throughout the forecast period 2018-2025. The dominance of this region is mainly attributed to the increasing deployment of numerous projects for the railway modernization and smart transportation in this region.
The major players of the global railway platform security market are Axis Communications AB, FLIR Systems, Honeywell International, Atos SE, Robert Bosch GmbH, Hangzhou Hikvision Digital Technology, Indra Sistemas, Mitsubishi Electric, L&T Technology Services, and Stanley Black & Decker. Moreover, the other prospective players in the railway platform security market are Wabtec, Senstar, Dahua Technology Co., Genetec, and Avnet. The recognized companies are coming up with innovative and new railway platform security solutions. The railway platform security market comprises well established local as well as global players. Also, the already recognized market players are coming up with new innovative services and solutions to stay competitive in the global market.