Market Size of Tunnel Automation Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 8.70 % |
| Fastest Growing Market | Europe |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Tunnel Automation Market Analysis
The Tunnel Automation Market is expected to grow at a CAGR of around 8.7% during the forecast period (2022 - 2027). Strict government regulations, increased occurrences of traffic accidents leading to a strong need for enhanced security, and expanding integration of cloud and IoT into tunnel automation technologies are all driving tunnel automation adoption.
- The introduction of automated technology in tunnels has been prompted by an increase in the incidence of vehicle tunnel accidents. Over the years, the average annual occurrence of tunnel fire accidents has grown, with the bulk of incidents happening in the summer and winter seasons and the least in the autumn.
- Tunnel automation systems are being connected with sophisticated technologies, including the internet of things (IoT), cloud computing, and data analytics, giving consumers a significant advantage over human management.
- With the use of these technologies, data may be shared and transported between communication systems and other devices like thermostats, sensors, and lighting systems. The data collected from these units are analyzed and used to manage the automation systems in the tunnels to improve their efficiency.
- However, the installation of tunnel automation systems involves high upfront costs. Additionally, the costs associated with the maintenance of these systems can increase the overall cost pressure, thereby restricting market growth.
- The building and automotive sectors came to a halt as a result of the COVID-19 pandemic. While reduced construction operations pushed tunnel projects back, fewer accidents occurred as a result of lower automobile sales and light traffic. As a result, the tunnel automation industry suffered a setback, exacerbated by a shortage of associated systems and the relocation of a substantial portion of the personnel to their hometowns.
