What are the upcoming industrial trends for Tunnel Automation Market

The 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" According to the new research report, the tunnel automation market is expected to grow from USD 2.9 billion in 2018 to USD 4.3 billion by 2023 at a CAGR of 8.12%. Rising incidents of road accidents, government regulations, and growing integration of IoT and cloud with tunnel automation solutions are the key factors driving the growth of this market. Increasing number of tunnel construction projects and integration of analytics in tunnel management are expected to create significant growth opportunities for players in the tunnel automation market during the forecast period.

Browse 64 market data Tables and 58 Figures spread through 164 Pages and in-depth TOC on "Tunnel Automation Market - Global Forecast to 2023"

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=81673916

Early buyers will receive 10% customization on reports.

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

The tunnel automation market for others component to hold a significant share of the by 2023

The others component accounts for the largest share of the tunnel automation market. The growth of others component can be attributed to the increasing requirement for other 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.

The market for Tunnel automation for railways tunnel type expected to grow at higher CAGR between 2018 and 2023

The market for railways by tunnel type is expected to grow at the higher CAGR between 2018 and 2023. Growing number of passengers traveling through railway tunnels and increasing incidents of accidents in these tunnels have prompted several railway network authorities to automate their tunnel systems. The growth of this market can be attributed to the increasing construction of subway and railway tunnels. In addition, rising incidents of accidents in railway tunnels have prompted several railway network authorities to automate their railway tunnel systems to minimize manual management of tunnels.

Increasing construction activities of tunnels to boost the market growth in APAC during forecast period

The tunnel automation market in APAC is expected to grow at the highest CAGR during the forecast period. China and India are expected to be the main contributors to the growth of the tunnel automation market in APAC in the coming years. Infrastructure in APAC is developing at a significant rate due to rapid urbanization and economic growth in various countries in the region. The Chinese government’s increasing investment in tunnel infrastructure, along with the increasing adoption of tunnel automation solutions for railway, subway, and roadway tunnels, has contributed to the increased demand for tunnel automation solutions in the country. Factors such as increased population and rapid urbanization have led to an increase in the use of highways and railways. This has resulted in the rising demand for tunnel automation solutions in APAC.

Key players in the market include

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). These players are increasingly undertaking products launches and development; partnerships, collaboration, contracts, and joint ventures; acquisition; expansions 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. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441