SecurityWorldMarket

12/12/2019

Railway platform security on track for growth

Northbrook, Il (USA)

According to the latest research information from Marketsandmarkets, the Railway Platform Security Market by sensors, video surveillance, alarm systems and region, is estimated to show a global growth from USD 1.7 billion in 2019 to USD 2.3 billion by 2024, at a CAGR of 5.9% during the forecast period.

Major factors expected by the analysts to drive the growth of this market include the increasing suicide instances, a growing need to minimize the risk of unauthorised access to platforms, and increasing demand for additional support and advanced solutions for security management.

The demand for platform security services is driven by the growing need to improve decision-making and organisational efficiency. The researchers found that the success of platform security systems depends on how well a solution is implemented as well as the use of collaboration tools in the daily work of employees across organisations. Platform security service providers have to ensure the collaboration strategy is tailored as per the specific business objectives of platform infrastructure to utilise the benefits of platform security solutions.

Under solutions, the platform edge doors/platform screen doors segment is predicted to grow at the highest growth rate during the forecast period. Platform Screen Doors or PSDs provide full height door systems, such as additional panels, to provide a complete seal between the platform and the track area of a station.

As rail networks are becoming an attractive alternative to other modes of transportation, stricter requirements are being imposed on railroads to ensure safety. Public security being the prime concern of railway services, the developments and adoptions of new technologies, such as video surveillance, PSDs, alert systems, are growing to cater to high passenger and freight demand.

The regional analysis of the railway platform security market covers North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). APAC is expected to have the highest market share and growth potential in the market during the forecast period. This growth can be attributed to the rapid deployment of surveillance solutions and PSDs in China and high-speed rail, smart transportation, and railway modernization projects in most of the APAC countries.

Some of the key and emerging market players as named by the research company, include Honeywell, Indra Sistemas, Huawei, Bosch, Atos, Flir, Axis, Telent, Dahua Hikvision, Stanley, Wabtec, Genetec, Senstar, and Anixter.


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