Global Tunnel Automation Market 2019-2023 | Integration of IoT and Cloud With Tunnel Automation Solutions to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Jan 13, 2020--
The tunnel automation market size is poised to grow at a CAGR of more than 7% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global tunnel automation market 2019-2023. (Graphic: Business Wire)
Global investments in tunnel and underground construction has increased substantially over the past few years. Annual investments in the tunnel sector were estimated at approximately USD 97 billion in 2017. On an average, nearly 3,200 miles of tunnels were constructed each year during 2013-2017. China, India, Italy, Russia, Germany, and the US are some countries that are witnessing considerable investments in tunnel infrastructure projects. Although the penetration of tunnel automation in developing countries is lower than developed countries, these countries are expected to register the highest growth during the forecast period because of regular investments in technological advances in infrastructure projects. Thus, the rising number of road tunnel construction projects will drive the growth of the market.
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As per Technavio, the integration of IoT and cloud with tunnel automation solutions will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Tunnel Automation Market: Integration of IoT and Cloud with Tunnel Automation Solutions
Tunnel automation solutions are being integrated with Internet of Things (IoT), data analytics, and cloud computing technology which provides end-users with a competitive advantage over conventional management systems. loT enables data sharing and transfer between standalone control systems and other devices such as thermostats, sensors, and lighting fixtures. However, the data received from these connected devices and control systems must be interpreted to analyze tunnel efficiency. In this regard, big data empowers end-users to regulate, optimize, and improve tunnel operations using cloud and loT technologies. Big data and cloud computing assist tunnel operators and facility managers to effectively monitor and analyze critical information pertaining to the building performance. Thus, the integration of these technologies will drive the growth of the tunnel automation market during the forecast period.
“Other factors such as the increasing focus of the government on tunnel safety and the development of urban rail transit systems will have a significant impact on the growth of the tunnel automation market value during the forecast period,” says a senior analyst at Technavio.
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Tunnel Automation Market: Segmentation Analysis
This market research report segments the tunnel automation market by type (railway tunnel, highway tunnel, and other tunnels) and geography (Americas, APAC, and EMEA).
The EMEA region held the largest share of the market in 2018, followed by APAC and Americas respectively. However, the APAC region is expected to witness the highest incremental growth, during the forecast period, due to an increase in investments in transportation infrastructure projects and the growing adoption of technology in transport infrastructure in the region.
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