The need to eliminate the unauthorized entries on railway platforms is anticipated to create opportunities for the railway platform security market
The global railway platform security market size is anticipated to reach over USD 2,700 Million by 2025. The growth rate is expected to be nearly 6% over the forecast period 2018-2025. The railway platform security solutions help in detecting and managing the activities happening on the platform premises in real-time. The security solutions comprise numerous hardware and software systems that further include surveillance systems and sensors. The sensors encompass fiber optic sensors, microwave sensors, radar sensors, and others. On the other hand, surveillance systems comprise analytics software and devices such as cameras and storage devices.
The current and future railway platform security market advances are defined to state the attractiveness of the market. Key impacting aspects focus on the Railway platform security market opportunities during the forecast period. Factors such as the increasing 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.
The report also highlights various aspects of the global railway platform security industry by analyzing the market through value chain analysis. Besides, the railway platform security market report covers different qualitative aspects of the railway platform security industry in market drivers, key industry opportunities, and restraints. Furthermore, the report proposes a comprehensive valuation of the market competitiveness along with company profiling of residents as well as global vendors.
The railway platform security market has solid competition among the early established and new players. Also, to capture a competitive advantage over the other industry players many industry players are aiming potential markets by forming collaboration and partnerships, agreements, mergers & acquisitions, acquiring new startups & other companies, and escalating their business presence.
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.
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. In addition, the already recognized market players are coming up with new innovative services and solutions to stay competitive in the global market.
Segment Overview of 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)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America