The rising prevalence of road accidents is the major factor driving the demand for tunnel automation solutions across the world. According to the World Health Organization (WHO), road accidents claim the lives of around 1.3 million people every year. Furthermore, the organization found that road accidents are the main cause of deaths for children and young individuals in the age bracket— 5-29 years. Additionally, around 93% of the fatalities occurring across the world are reported in low- and middle-income countries, as per the organization.
Because of the aforementioned reasons, the demand for road safety is growing rapidly, which is making several governments invest heavily in innovative and advanced technologies such as tunnel automation, that can massively improve surveillance, ventilation, lighting, air conditioning, and security in tunnels. Apart from this, the adoption of cloud-based and internet of things (IoT)-integrated tunnel automation solutions is also fueling the expansion of the tunnel automation market across the world.
Browse detailed - Tunnel Automation Market Revenue Estimation and Growth Forecast Report
The integration of these advanced technologies in tunnel automation solutions is massively improving the functionality of these solutions. These technologies enable the transmission and sharing of data between communication systems and other devices such as sensors, lighting systems, and thermostats, thereby improving the efficiency of tunnels with the help of effective data analysis. The launch of large-scale tunnel construction projects in several countries is also pushing up the demand for tunnel automation solutions all over the world.
As a result, the industry will expand massively during 2021–2030. Highway and roadway and railway tunnels are the major types of tunnels in which these solutions are incorporated. Between these, the demand for tunnel automation solutions was observed to be higher in railway tunnels in 2020. This is ascribed to the various benefits of railway tunnel automation solutions such as reduced security and safety threats and enhanced efficiency in tunnel operations.
The Modi government may be remembered for bringing back the vigour to critical infrastructure projects, that involve tunnel projects on tough terrains to ease the life and meet the strategic requirement are major highlights in this effort.
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.
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=81673916Early buyers will receive 10% customization on reports.
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.
China and India are expected to be the main contributors to the growth of the tunnel automation market in APAC in the coming years.
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.
