Tunnel Automation Market, 2023 by Component (HVAC, Lighting & Power Supply, Signalization), Offering (Hardware, Software, and Services), Tunnel Type (Railway Tunnels and Highway and Roadway Tunnels) - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Oct 2, 2018--The “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” report has been added to ResearchAndMarkets.com’s offering.
The tunnel automation market is expected to grow from USD 2.89 billion in 2018 to USD 4.27 billion by 2023, at a CAGR of 8.12%.
The growth of this market is mainly driven by the factors such as rising incidents of road accidents, tightening government regulations for the deployment of tunnel automation solutions, and growing integration of IoT and cloud into tunnel automation solutions. However, the shortage of technical or skilled engineering workers to deploy tunnel monitoring solutions restrains the growth of the tunnel automation market.
HVAC components are expected to witness the highest CAGR in the tunnel automation market during the forecast period owing to the absolute necessity to provide forced ventilation inside tunnels as tunnel enclosures have limited access from outside and do not have natural ventilation.
Europe is expected to account for the largest share of the tunnel automation market by 2023. The growth of the market in Europe can be attributed to the well-established manufacturing industries, high demand for public transport in most cities, and presence of several mountain ranges in the region.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Tunnel Automation Market, By Offering
7 Tunnel Automation Market, By Tunnel Type
8 Tunnel Automation Market, By Component
9 Geographic Analysis
10 Competitive Landscape
11 Company ProfilesSiemens Johnson Controls ABB Group Sick Ag Honeywell Philips Lighting Trane Swarco Eaton Kapsch Psi Incontrol Agidens Sice Indra Osram Advantech Codel International General Electric Phoenix Contact Delta Electronics
For more information about this report visit https://www.researchandmarkets.com/research/sffwg2/tunnel_automation?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20181002005712/en/
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SOURCE: Research and Markets
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PUB: 10/02/2018 10:41 AM/DISC: 10/02/2018 10:41 AM