The tunnel monitoring system market is expected to grow from USD 340.7 million in 2018 to USD 663.8 million by 2023, at a CAGR of 14.27% between 2018 and 2023.
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Increasing investments in tunnel infrastructure across countries worldwide, catastrophic failure of tunnels resulting in loss of lives and incurring high costs, decreasing cost of sensors resulting in reduced cost of tunnel monitoring systems, and strict regulations pertaining to tunnel safety are driving growth of tunnel monitoring system market.
Key Target Audience
- Semiconductor and electronic component manufacturers and distributors
- Sensor manufacturers and distributors
- Component manufacturers
- Original equipment manufacturers (OEMs)
- Original design manufacturers (ODMs) and technology solution providers
- Technology standards organizations, forums, alliances, and associations
- Government bodies, venture capitalists, and private equity firms
- System integrators
- Value added resellers
- Research organizations
- Technology investors
Tunnel monitoring system market can be segmented on basis of offering into hardware, & software and services.
Hardware is most important component of a tunnel monitoring system & is used for measuring physical aspects, like temperature, pressure, strain, dynamic load, cracks, & corrosion, of a tunnel. Data are then transmitted to software for further analysis.
Hardware used in tunnel monitoring systems includes various types of sensors, like piezoelectric, piezoresistive, optical fiber, corrosion, temperature, and pressure sensors.
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The tunnel monitoring system market in APAC is expected to grow at the highest rate during the forecast period due to the rapid development in countries such as China, South Korea, India, and Japan. Infrastructure in APAC is developing at a significant rate due to rapid urbanization and economic growth in various countries in the region.
Infrastructure for transportation is crucial in APAC.
1 Attractive Opportunities in the Tunnel Monitoring System Market
2 Tunnel Monitoring System Market in Americas, By Networking Technology
3 Tunnel Monitoring System Market in Europe, By Tunnel Type and Country (2018)
4 Tunnel Monitoring System Market, By Geography
The major vendors in the tunnel monitoring system market for hardware include Nova Metrix (US), SISGEO (Italy), James Fisher (UK), and GEOKON (US). The major vendors in the market for software and services include COWI (Denmark), Ramboll (Denmark), and Fugro (Netherlands).
These players have adopted strategies such as product launches and developments to cater to their customer needs.
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Major challenges for market players include the requirement of skilled personnel for the installation and calibration of tunnel monitoring systems, and technical challenges and operational factors. Technical challenges such as data transmission delays, data inaccuracy of instruments (to some extent), limited wireless bandwidth, and energy consumption by transceivers are making it challenging for operators to use tunnel monitoring systems widely.
2 Ranking of Market Players Based on Their Hardware, and Software and Services Offerings in the Tunnel Monitoring System Market, 2017
3 Competitive Scenario and Trends
4 Product Launches and Developments
5 Partnerships, Contracts, Agreements, and Collaborations
6 Mergers & Acquisitions
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