The global Railway Platform Security market size is expected to reach close to USD16.72 billion by 2029 with an annualized growth rate of 7.97% through the projected period.
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.
.png "Global Railway Platform Security Market 2018-2025 (USD Million)")
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.
Railway Platform Security Market Scope
| Metrics | Details |
| Base Year | 2020 |
| Historic Data | 2018-2019 |
| Forecast Period | 2021-2028 |
| Study Period | 2018-2028 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2028 | USD16.72 billion |
| Growth Rate | CAGR of 7.97 % during 2021-2028 |
| Segment Covered | By Type, By Component, by Application, Regions |
| Regions Covered | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Key Players Profiled | ABB, Alstom, BAE Systems, Bombardier, Cervello, Cisco Systems, Inc., Cylus Ltd., General Electric, Hitachi Ltd., Huawei Technologies Co., Ltd., International Business Machine Corporation, Nokia Corporation, Raytheon Technologies Corporation, Siemens AG, Thales Group, and Webtec Corporation |
Key Segment Of The Railway Platform Security Market
By Component, 2021-2028 (USD Million)
o Solutions
• Sensors
• Platform Edge Doors
• Alarm Systems,
• Surveillance Systems
By Application, 2021-2028 (USD Million)
• Trains
• Subway
Regional Overview, 2021-2028 (USD Million)
North America
• US
• Canada
Europe
• Germany
• France
• UK
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
the railway platform security market is growing at a CAGR of 6% during the forecast period.
Asia-Pacific dominated the market for railway platform security market and accounted for the largest revenue share.
The base year for the report is 2018 in railway platform security market
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.
Component Segment
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.
Application Segment
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.
.png "Asia-Pacific Railway Platform Security Market, 2018-2025 (USD Million)")
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.