DUBLIN, September 28, 2023 (GLOBE NEWSWIRE) — “Global Tunnel Sensors Market Size, Share and Growth Analysis by Type, Service, Connectivity Gender and Application – Industry Forecast 2023-2030” report added it was done. ResearchAndMarkets.com Recruitment.
The global tunnel sensor market is projected to grow significantly at a CAGR of 5.5% during the forecast period 2023-2030.
The market was valued at USD 4.11 billion in 2022 and is expected to reach USD 6.31 billion by 2030. This growth can be attributed to factors such as rapid urbanization, increasing industrialization, rural-to-urban migration, and rising disposable income. Tunnel sensors play a critical role in ensuring safety and performing predictive maintenance during tunnel construction, and continue to be essential for monitoring tunnels after construction is complete.
The global tunnel sensor market is segmented based on several factors.
- type: This includes various tunnel sensors such as airflow monitoring, air quality monitoring, visibility monitoring, filter monitoring, and fire monitoring.
- service: Services offered in the market include installation services, maintenance services, and consulting services.
- Connectivity: Connection options include wired and wireless.
- application: Based on application, the market is segmented into railway tunnels and road tunnels.
- region: Geographic regions include North America, Europe, Asia Pacific, Latin America, and MEA.
Railway tunnels lead the way
The railway tunnel segment holds the largest market share in the global tunnel sensor market and is expected to maintain its position throughout the forecast period. Rail tunnels are essential to the country’s communications infrastructure, especially in mountainous areas and urban areas. Demand for tunnel monitoring systems to ensure safety and maintenance of railway tunnels is driving market expansion.
Wireless connectivity is mainstream
Wireless connectivity currently holds the largest market share and is expected to continue its dominance during the forecast period. The increasing use of supporting technologies such as the Internet of Things (IoT) is expected to increase the adoption of wireless technology-based tunnel monitoring systems. Wired network-based tunnel monitoring systems are more expensive, leading to a preference for wireless solutions.
North America leads the global tunnel sensor market due to its significant market for advanced technology-based devices and continuous infrastructure development. Asia-Pacific is expected to be the fastest growing region due to population growth, rapid urbanization, increased use of roads and rail, and significant government investment in infrastructure development, especially in countries such as China and India. Masu.
Market drivers and restraints
- Market drivers: Increasing adoption of IoT and artificial intelligence: IoT and artificial intelligence have brought automation and significant advances in tunnel technology, improving tunnel infrastructure and safety.
- Market restraint: limited product awareness: Lack of awareness towards tunnel sensor products and high installation cost are restraining the market growth.
The tunnel sensor market is characterized by intense competition among multiple players. Participants are continuously engaged in research and development to enhance and update their sensor products, aiming to increase sales by providing valuable features. Strategic partnerships also have the potential to expand the market.
Government agencies around the world are focused on strengthening transportation systems to provide seamless connectivity. Railways are an important means of transportation in many countries. Initiatives such as India’s National Railway Plan and China’s railway system upgrade are driving the growth of the tunnel sensor market.
- BRISTOL INDUSTRIAL & RESEARCH ASSOCIATES LIMITED.
- CODEL International Co., Ltd.
- durag group
- Advance Technologies Asia
- I think I want to do it
- Control Equipment Pty Ltd
- Trolex Co., Ltd.
- Chic AG
- Artec Co., Ltd.
- Tunnel Sensors Co., Ltd.
- sage automation
- PCB Piezotronics Co., Ltd.
- monitoring solution
- Herrenknecht AG
- SIXENSE Sol data
- James Fisher and Sons plc
- Geocomp Co., Ltd.
- Keller Group PLC
- GeoSIG Ltd
|number of pages||157|
|Estimated market value in 2022 (USD)||$4.11 billion|
|Projected market value to 2030 (USD)||$6.31 billion|
|compound annual growth rate||5.5%|
For more information about this report, please visit https://www.researchandmarkets.com/r/lhm2uq.
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Global tunnel sensor market
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