Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 4.28 Billion | USD 8.70 Billion | 8.20% | 2023 |
The global Tunnel Automation Market size was worth around USD 4.28 Billion in 2023 and is predicted to grow to around USD 8.70 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 8.20% between 2024 and 2032.
The report covers a forecast and an analysis for the tunnel automation market on a global and regional level. The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion).
A tunnel contains a large number of ventilation systems, lighting systems, and speed limit indications, among other things, all of which demand a large amount of power and must be managed successfully and efficiently in order to control traffic. Any flaw in the operation of any system, or any malfunction in the power supply, might result in serious mishaps. As a result, tunnel system automation is the best alternative for avoiding such unfortunate accidents. Tunnels make it easier to transport things, cars, and products swiftly, but at a higher cost and risk. Tunnel automation can save money by reducing human labor and utilizing renewable energy sources. Tunnel automation is supposed to improve safety by creating an optimum environment for speedy mobility. Tight government rules, an increase in traffic accidents, a strong need for greater security, and the rising integration of cloud computing technologies and IoT into tunnel automation solutions are the primary factors pushing tunnel automation adoption.
Advancements in digital signal processing, embedded computer architecture, digital sensing, and navigation and guidance, have unfolded automation and innovation in the tunnel system around the world. Currently, automation technology is highly attractive toward underground road tunnels, rail tunnels, and underwater tunnels. The main components of a tunnel automation system include smart lighting, fire detection, hazardous-cargo detection, traffic management system, video surveillance, emergency call system, traffic counting, fire extinguishing system, and digital control systems. Switzerland, England, France, Norway, Japan, Colorado, China, Malaysia, etc. are expressing interest in automating their tunnels.
The study includes drivers, challenges, and restraints for the tunnel automation market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the tunnel automation market on a global level.
Growing security concerns and government regulations are some of the major driving factors for the tunnel automation market globally. Additionally, technological advancements made in the field of traffic monitors and control equipment is further driving the tunnel automation market growth. However, the high construction cost of the automated tunnel might restrain this market’s growth. Nonetheless, the rising tunnel construction activities across the globe, due to rapid infrastructural growth are projected to fuel the market expansion in the forecast time period.
This report offers comprehensive coverage on the global tunnel automation market along with market trends, drivers, and restraints. This report includes a detailed competitive scenario and product portfolio of the key vendors. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the tunnel automation market has also been included. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness. This report is prepared using data sourced from in-house databases, secondary, and the primary research team of industry experts.
The study provides a decisive view of the tunnel automation market by segmenting the market based on component, tunnel type, system, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.
By component, the market is segmented into hardware, software, and services. The software segment is predicted to hold a significant share in the market during the forecast time period, due to continuous innovation and launch of advanced control and monitoring software.
By tunnel type, segment comprises a railway tunnel, roadway tunnel, and others. Currently, the roadway tunnel is dominating the market significantly due to a large number of ongoing tunnel constructions witnessed globally.
By system, this global market is segmented into HVAC, lighting and power supply, signalization, and others.
The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa with their further division into the U.S., UK, Germany, France, India, China, Japan, and Brazil.
Asia Pacific is estimated to hold the largest share of the global tunnel automation market during the forecast period. China and India are expected to be the major regional contributors to the growth of the tunnel automation market in the Asia Pacific in the coming years. Infrastructure development in the Asia Pacific is accelerating as a result of rapid urbanization and economic growth in the region's various countries. The region's tunnel automation market is expected to be driven by rising tunnel construction investment. The Chinese government's increased investment in tunnel infrastructure, combined with the increasing adoption of tunnel automation solutions for railway, subway, and road tunnels, has contributed to the country's increased demand for tunnel automation solutions. Furthermore, factors like population growth and rapid urbanization have increased the use of highways and railways. As a result, tunnel automation solutions are in high demand in the Asia Pacific.
Europe is predicted to grow the fastest during the forecast period. Tunnel construction has increased in many European countries, including the United Kingdom, Germany, and Italy, as the market in this region has grown. Several significant tunnel projects are either under construction or in the planning stages. The presence of a number of manufacturing industries, combined with rising demand for public transportation in most cities, is propelling the tunnel automation market forward. The presence of several mountain ranges in the region is also expected to drive market growth over the forecast period.
Report Attributes | Report Details |
---|---|
Report Name | Tunnel Automation Market Size Report |
Market Size in 2023 | USD 4.28 Billion |
Market Forecast in 2032 | USD 8.70 Billion |
Growth Rate | CAGR of 8.20% |
Number of Pages | 188 |
Forecast Units | Value (USD Billion), and Volume (Units) |
Key Companies Covered | Johnson Controls, Siemens, ABB Group, Trane, Eaton, Honeywell, Sick AG, Philips Lighting, Swarco, and Kapsch, among others |
Segments Covered | By Component, By Tunnel Type, By System, By End Users and By region |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
The report covers a detailed competitive outlook including the market share and company profiles of the key participants operating in the global tunnel automation market. The report includes the company profile of -
Global Tunnel Automation Market: Component Segment Analysis
Global Tunnel Automation Market: Tunnel Type Segment Analysis
Global Tunnel Automation Market: System Segment Analysis
Global Tunnel Automation Market: Regional Segment Analysis
FrequentlyAsked Questions
The global Tunnel Automation Market size was worth around USD 4.28 Billion in 2023 and is predicted to grow to around USD 8.70 Billion by 2032
compound annual growth rate (CAGR) of roughly 8.20% between 2024 and 2032.
The largest share of the Tunnel Automation Market is held by Asia Pacific. Developing countries of Asia Pacific such as China, Japan, and India will be dominating the market scenario mainly due to the rising constructional activities. The growth of Asia-Pacific region is expected to be followed by the Middle East and North America. Also, significant growth is expected from Western Europe owing to the developments taking place in this region especially in countries such as Italy, Germany, the U.K, France, and Spain. However, growth in Africa, Latin America, and Eastern Europe is anticipated to be moderate over the forecast period.
Johnson Controls, Siemens, ABB Group, Trane, Eaton, Honeywell, Sick AG, Philips Lighting, Swarco, and Kapsch, among others
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