New York, NY, Dec. 11, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Tunnel Automation Market by Component (Hardware, Software, and Services), by Tunnel Type (Railway Tunnel, Roadway Tunnel, and Others (Underwater Tunnel)), and by System (HVAC, Lighting & Power Supply Signalization, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017-2024’’. According to the report, the global tunnel automation market was valued at USD 2.81 billion in 2017 and is expected to reach around USD 5.11 billion by 2024, with a CAGR of 8.93% between 2018 and 2024.
Tunnel automation is inspired by the growing security concerns for security and penetration of advanced technologies, such as digital sensing, fire detection, and extinguishing, video surveillance, smart lighting, smart traffic display, etc. Technology automation is witnessing high penetration across underground surpass, rail link tunnels, and underwater tunnels. Ongoing research related to terrestrial laser scanning and real-time traffic monitoring can unfold new growth opportunities for the tunnel automation market globally.
Browse through 42 Tables & 29 Figures spread over 155 Pages and in-depth TOC on “Global Tunnel Automation Market: Industry Type, Size, Share, Trends and Forecast, 2017-2024”.
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Rising accident cases and advancements in traffic automation technology are the key drivers in the global tunnel automation market. Additionally, favorable government regulations related to tunnel automation are favoring this market’s growth. The high installation cost of automation systems might limit the tunnel automation market on a global scale. Nonetheless, the integration of IoT and big data, among other analytics with tunnel automation can create new growth opportunities for this market.
The tunnel automation market is classified based on component, tunnel type, and system. By component, the market is segmented into hardware, software, and services. In 2017, the hardware segment dominated the market, owing to the increased application of HVAC, lighting control systems, traffic control systems, and other important protection systems. This segment is projected to emerge as the most lucrative segment due to the rising need for traffic monitoring and control equipment to regulate the growing number of accidents. The tunnel type segment comprises a railway tunnel, roadway tunnel, and others (underwater tunnel). The railway tunnel segment is likely to dominate the market, due to large tunnel construction for rail links in the outskirt areas. By system, this global market is segmented into HVAC, lighting and power supply, signalization, and others. The major factors driving the system segment include growing advancements in traffic monitoring systems and the increasing number of accidents.
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In 2017, North America held the largest market share in terms of revenue. Integration of Big Data, IoT, and other analytical tools in tunnel automation is anticipated to create lucrative opportunities for the North American tunnel automation market in the forecast time period. The U.S. accounted for the largest share in the North American tunnel automation market, due to the presence of IT giants that are continuously trying to develop software and other analytical tools that are used in tunnel automation. The U.S. is predicted to dominate the global market in the signalization segment in the forecast timeframe, owing to the availability of advanced traffic control and alarming systems in the country. Canada is likely to be the fastest growing country in this region in the forecast time period.
Europe is projected to contribute significantly toward the tunnel automation market during the estimated timeline. In 2017, UK held the largest market share in the European region, due to the integration of IoT in tunnel automation systems. For instance, Worldsensing Inc. appointed Kerlink to provide LoRaWAN connectivity for the Grand Paris Metro Project. Gotthard base tunnel of Switzerland uses the Polycom radio communication system based on Tetrapol technology, which is provided by Airbus Defence and Space. It is the world’s longest railway automated tunnel.
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The Asia Pacific is likely to make a considerable contribution toward the global tunnel automation market during the forecast time period. China is expected to record the highest CAGR during the forecast timeframe in this region, owing to the growing use of smart tunnel monitoring system in road and railway tunnels. For instance, China has implemented smart tunnel monitoring systems for the National highway between Hangzhou and Ruili in Yunnan City. This project helps in monitoring the road traffic and weather conditions, detects security issues, and guides the traffic during peak hours to avoid accidents.
Latin America and the Middle East and Africa are the most lucrative regions for tunnel automation market. Both these regions have significant market growth potentials, due to a large number of road and sea links in different major countries.
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The major participants of the global tunnel automation market are Johnson Controls, Siemens, ABB Group, Trane, Eaton, Honeywell, Sick AG, Philips Lighting, Swarco, and Kapsch, among others.
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This report segments the global tunnel automation market as follows:
Global Tunnel Automation Market: Component Segment Analysis
- Hardware
- Software
- Services
Global Tunnel Automation Market: Tunnel Type Segment Analysis
- Railway Tunnel
- Roadway Tunnel
- Others
Global Tunnel Automation Market: System Segment Analysis
- HVAC
- Lighting & Power Supply
- Tunnel Lighting
- Power Supply
- Signalization
- Traffic Control Systems
- Public Announcement
- Alarm Systems
- Others
- Fire Detection Systems
- Traffic Management Systems
- Central Control and Monitoring Systems
- Video Surveillance Systems
- Incident Detection Systems
- Communication Systems
- Gas Detection Systems
Global Tunnel Automation Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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