Railway Platform Security Market is Expected to Register a CAGR of 5.40% during the Review Period, 2022 - 2030

MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Railway Platform Security Market.

Railway Platform Security Overview

Global Railway Platform Security Market is expected to register a CAGR of 5.40% during the review period, 2022–2030. Key factors responsible for market growth are the increasing need to minimize the risk of unauthorized access to platforms and the growing demand for additional support and advanced solutions for security management. North America dominated 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.

Competitive Analysis

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), telent (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.

Segmental Analysis

The Global Railway Platform Security Market has been segmented based on Component, Application, and Region.

By component, the market has been segmented into solutions and services. The solution segment covers sensors, alarm systems, and video surveillance systems. The sensors segment includes 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 component, the solutions segment is expected to hold a larger market size during the forecast period as many enterprises are deploying perimeter intrusion solutions, such as sensors and video surveillance systems, to prevent security intrusions. The railway platform security market is a solution-driven market. The solutions play an important role in handling all the railway platform security-related activities such as passenger safety and security. Moreover, the solutions are used to improve operational efficiency and railways management systems.

The services segment has been divided into professional services and managed services; this segment is expected to record a higher growth rate during the forecast period due to the growing need to improve decision-making and organizational efficiency. Platform security service providers have to ensure the collaboration strategy is tailored as per the specific business objectives of platform infrastructure to utilize the benefits of platform security solutions.

By application, the market has been segmented into subways and trains. On the basis of application, the trains segment is expected to grow at a higher growth rate from 2019 to 2025. Public security being the major concern of railway services, the developments and adoption of new technologies, such as video surveillance and alert systems are growing to cater to high passenger and freight demand.