Attractive Opportunities in Tunnel Automation Market

[164 Pages Report] The overall tunnel automation market was valued at USD 2.68 billion in 2017 and is likely to reach USD 4.27 billion by 2023, at a CAGR of 8.12% from 2018 to 2023.The growth of this market is mainly driven by factors such as 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. However, the lack of technically skilled labors for the installation and monitoring of tunnel automation solutions restrains the growth of the tunnel automation market. The base year considered for the study is 2017, and the forecast has been provided for the period from 2018 to 2023.

The tunnel automation market comprises a network of players involved in R&D facilities, raw material suppliers, OEMs, system integrators, suppliers and distributors, and end users. Key players considered in the analysis of the tunnel automation market are 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).

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Tunnel automation solutions comprise a broad set of technologies that enable the monitoring and management of tunnel environments in extremely harsh conditions by providing a continuous stream of information. Increasing incidents of fatal accidents in tunnels is a growing concern for several governments and tunnel management authorities worldwide; they are focusing on adopting tunnel automation as a solution to avoid accidents inside tunnels. Different components of tunnel automation include HVAC, lighting & power supply, signalization systems (traffic control, public announcement, and alarm systems), and other components (fire detection, traffic management, central control and monitoring, video surveillance, incident detection, communication, and gas detection systems).

The tunnel automation market has been segmented, on the basis of tunnel type, component, offering, and region. Other components are expected to account for the largest share of the tunnel automation market during the forecast period. The growth of the market for others component can be attributed to the high requirement for these components, including 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.

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