Reports
Reports
The growing number of road accidents across the globe, rising demand for extensive security, and the expanding integration of IoT and cloud into tunnel automation solutions may serve as growth accelerators for the tunnel automation market during the forecast period of 2021-2031. The construction of highways and super ways has increased exponentially over the years. The government bodies of numerous countries are focusing on creating superior transport infrastructure to reduce road accidents. These factors are also estimated to bring profitable growth avenues for the tunnel automation market between 2021 and 2031.
As per the report by the World Health Organization (WHO), nearly 1.35 Mn people lose their lives due to road accidents every year. These statistics highlight the growing concerns regarding road accidents. Many countries have also set targets to reduce the number of road accidents in a few years. One of the classic instances of such initiatives is the 2030 Agenda for Sustainable Development. It has a target of decreasing the global deaths and injuries caused due to road crashes to half by 2030. Such initiatives and schemes bode well for the growth of the tunnel automation market.
The report from Transparency Market Research highlights various factors that influence the growth of the tunnel automation market. Insights into the competitive dimensions, regional aspects, and key trends have also been included in the report. In addition, the report also mentions the impact of the COVID-19 pandemic on the tunnel automation market. Threat projections and potential growth hindrances are also covered extensively in this report.
The tunnel automation market has various players. The players in the tunnel automation market are involved in fierce competition for gaining a huge consumer base. The players indulge in research and development activities for upgrading and adding new features. These features and solutions act as revenue generators for the players in the tunnel automation market. Furthermore, the players are also involved in strategic collaborations. These collaborations help in increasing the influence of the players in untapped regions, eventually expanding the growth trajectory of the tunnel automation market.
Some well-entrenched players in the tunnel automation market are ABB Limited, Siemens AG, SICK AG, and Johnson Controls Inc.
The expansion of railway networks in remote areas and mountainous regions is proving to be a boon for the growth of the tunnel automation market. The presence of a strong rail network facilitates ease of traveling for the people. Hence, the rising focus on strengthening rail infrastructure will initiate exponential growth for the tunnel automation market.
The number of regulations related to tunnel constructions is prompting many construction companies to embrace tunnel automation solutions on a large scale. These solutions ensure precision in work and hardly fail. Thus, these factors bring substantial growth prospects for the tunnel automation market. Furthermore, rapid urbanization in densely populated countries like India and China is serving as a prominent growth contributor for the tunnel automation market. Due to the rising urbanization trend, the government bodies of such countries are concentrating on improving the transport infrastructure to enable seamless connectivity. These factors are expected to bring steady growth for the tunnel automation market between 2021 and 2031.
Asia Pacific is expected to gain extensive growth for the tunnel automation market between 2021 and 2031. Strengthening of the railway network in countries like India and China, expanding focus on numerous initiatives and schemes, and huge investments in rail infrastructure are some of the crucial factors that may influence the growth of the tunnel automation market in Asia Pacific.
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Tunnel Automation Market
