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Growing need to minimize the risk of unauthorized access to platforms
The global railway platform security market size to grow from USD 1.7 billion in 2019 to USD 2.3 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 5.9% during the forecast period. The security of railway passengers is interlinked with the security and safety of railway assets, such as railway platforms and trains. Minimizing unauthorized access with the help of control systems ensures a high level of security of passengers and goods at the platform.
Various measures are implemented to restrict unauthorized access. These measures include 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 an important role in preventing unauthorized access, as these systems automate entry and exit operations, and secure crucial areas. Moreover, the entry of unauthorized persons and a large number of visitors lead to unmanageable crowds on railway platforms, and the existence of unmanned multi-entry and exit points at stations causes security threats; hence, all these factors boost the need to minimize the risk of unauthorized access to platforms.
Among solutions, the platform edge doors/platform screen doors segment to grow at the highest CAGR during the forecast period
The term Platform Screen Doors (PSDs) is used to describe the provision of full height door systems, such as additional panels, to provide a complete seal between the platform and the track area of a station. These systems are normally required where climate control is the primary purpose, but they also provide a safety improvement as an additional benefit. Another type of system is named Platform Edge Doors (PEDs) as it does not form a complete division between platforms and tracks. Rather, the PED design forms a full or half height barrier along the platform edge but does not provide the air seal required for full climate control.
Under services, the professional services segment to hold a larger market size during the forecast period
The services offered by professionals, specialists, or experts to support businesses are known as professional services. These services include implementation and integration, and support and maintenance. Professionals use the latest techniques, comprehensive strategies, and skills to ensure the adoption of the right kind of security solutions required for railway platforms. They also offer assistance during the deployment of security solutions using industry-defined best practices.
Asia Pacific to be the fastest-growing region
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, rising investments for digital transformation, and increasing GDP of APAC countries. A majority of the potential APAC economies such as Australia, Singapore, China, Korea, Hong Kong, and India are rapidly investing in technological transformation. According to Business Line’s latest estimates, 30% of the global rail investment is localized in APAC. According to data published on the website of United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) in 2019, the length of Trans-Asian Railway network comprises 117,500 km of railway lines serving 28-member countries.
The break up of primary profiles is as follows:
- By Company Type: Tier 1 – 55%, Tier 2 – 27%, and Tier 3 – 18%
- By Designation: C-level Executives – 33%, Directors – 25%, and Others – 42%
- By Region: North America – 38%, Europe – 19%, APAC – 14%, and RoW (29%)
The major vendors in the railway platform security market include: Honeywell (US), Indra Sistemas (Spain), Huawei (China), Bosch (Germany), Atos (France), FLIR Systems (US) Axis Communications (US), telent (UK), Dahua Technology (China), Hikvision (China), STANLEY Access Technology (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). The study included an in-depth competitive analysis of these key players with their company profiles, recent developments, and key growth strategies adopted by them.
The market study covers the railway platform security market across different segments. It aims at estimating the market size and the growth potential of this market across different segments based on solutions, services, applications, and regions. The study also includes an in-depth competitive analysis of key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying the report
- The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall railway platform security market and its segments.
- This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and to plan suitable go-to-market strategies.
- The report also aims at helping stakeholders understand the pulse of the railway platform security market and provide them with information on key market drivers, restraints, challenges, and opportunities.