Directory Image
This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Privacy Policy.

Attractive Opportunities in Tunnel Automation Market

Author: Prashant Vir
by Prashant Vir
Posted: Apr 14, 2019

According to the new research report "Tunnel Automation Market by Component (HVAC, Lighting & Power Supply, Signalization), Offering (Hardware, Software, and Services), Tunnel Type (Railway Tunnels and Highway and Roadway Tunnels), and Geography - Global Forecast to 2023", the tunnel automation market is expected to grow from USD 2.89 billion in 2018 to USD 4.27 billion by 2023, at a CAGR of 8.12%. Rising incidents of road accidents, tightening government regulations for the deployment of tunnel automation solutions, and growing integration of IoT and cloud into tunnel automation solutions are the key factors driving the growth of this market.

Other components are expected to hold a significant share of the tunnel automation market by 2023

Other components are expected to account for the largest share of the tunnel automation market during the forecast period. The growth of this segment can be attributed to the high requirement for these components, such as fire detection, traffic management, central control and monitoring, video surveillance, incident detection, communication, and gas detection systems, in tunnels for providing safety and security to all passengers traveling through and operators working in highway, roadway, railway, and subway tunnels.

Know More : Download PDF Brochure @

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=81673916

The tunnel automation market for railway tunnels to grow at a higher CAGR from 2018 to 2023

The market for railway tunnels is expected to grow at the higher CAGR from 2018 to 2023. The growth of this market can be attributed to the increasing number of projects related to the construction of subway and railway tunnels and rising incidents of accidents in railway tunnels. These factors have also prompted several railway network authorities across the world to automate their railway tunnel systems.

APAC to dominate the tunnel automation market during the forecast period

The tunnel automation market in APAC is expected to grow at the highest CAGR during the forecast period. Infrastructure in APAC is developing at a significant rate due to rapid urbanization and economic growth in various countries in the region. Factors such as increased population and rapid urbanization have led to an increase in the use of highways and railways. To ensure connectivity across the entire region, governments of several countries are heavily investing in infrastructural development, such as building highways and railways. This has resulted in the rising demand for tunnel automation solutions in APAC.

Johnson Controls (Ireland), Siemens (Germany), Trane (Ireland), SICK AG (Germany), ABB Group (Switzerland), Kapsch (Austria), Philips Lighting (Netherlands), Honeywell (US), Eaton (Ireland), and Swarco (Austria) are the major players in the market who are increasingly involved in following strategies such as partnerships, contracts, and expansions to develop and introduce new technologies and products in the market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441

About the Author

Working As Automation Professional, provide value added information to the Industry that's impact on revenue growth of industry

Rate this Article
Leave a Comment
Author Thumbnail
I Agree:
Comment 
Pictures
Author: Prashant Vir

Prashant Vir

Member since: Nov 22, 2018
Published articles: 215

Related Articles