The tunnel automation market is expected to grow at a compounded growth rate of 8% per annum over the forecast period from 2021 to 2027.
The surge in traffic accident incidence rates leading to increased demand for enhanced security is a major factor that will accelerate the tunnel automation market growth rate over the forecast period 2021-2027. In addition, various government regulations favoring the adoption of tunnel automation solutions are thriving. Tunnel automation market growth. Increasing integration of IoT and cloud and tunnel automation solutions is also having a positive impact on the growth of the market. In addition, an ever-increasing number of project allocations, along with increasing accidents and aging railway tunnels, is an active growth engine for the growth of the tunnel automation market. In addition, increasing connectivity and established IT services and continually increasing connectivity and underlying IT services are driving the growth of the tunnel automation market during the forecast period mentioned above.
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Tunnel automation market is dominated currently by 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 partnerships, contracts, and expansions to develop and introduce new technologies and products in the market.
Tunnel Automation Market Segments:
By Offering:
• Hardware
• Software
• Services
By Tunnel Type
• Railways
• Highway and Roadway Tunnels
By Component
• HVAC
• Lighting & Power Supply
• Signalization
• Others
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