Tuesday, 16 April 2024
In terms of revenue, the APAC tunnel sensor market was valued at US$ 901.9 million in 2019 and is expected to grow at a CAGR of 7.1% during the forecast period to reach US$ 1,538.9 million by 2027.
Digital transformation is revolutionizing industries worldwide owing to advantages such as enhanced operational efficiency, improved productivity, and reduced costs. Enterprises of all sizes are investing heavily in adopting various digital technologies such as web/mobile apps, cloud computing, internet of things, predictive analytics, and big data among many others. Digital transformation and process automation has the potential to create unparalleled opportunities for businesses to create more value and increase their revenue. Hence, customers are adopting advanced tunnels sensor solutions which help in automating the tunnel monitoring systems and thus reduce the number of accidents and decrease the cost involved in tunnel maintenance. Some of the major strategic benefits offered by tunnel automation solutions include reduced costs, increased accuracy, enhanced productivity, environmental benefits, and improved regulatory compliance among many others. In addition to this, the number of government regulations in regions such as North America and Europe favoring the automation of tunnel systems is growing at an impressive pace. Tunnel sensors play a crucial role in sensing and monitoring various critical tunnel parameters to ensure tunnel and people safety. The decreasing cost of tunnel sensors and rising integration of technologies such as IoT in tunnel monitoring solutions are some of the key factors that are driving the adoption of different types of tunnel sensors across the world.
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CODEL International Ltd, DURAG GROUP, Advance Technologies Asia Sdn. Bhd., ACOEM, Control Equipment Pty Ltd., Trolex Ltd, Safibra, s.r.o., and SICK AG are among the key players that were profiled during this market study. In addition to these players, several other important market players were studied and analyzed during the course of this market research study to get a holistic view of the APAC tunnel sensor market and its ecosystem. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The report segments the APAC tunnel sensor market as follows:
APAC Tunnel Sensor Market – By Solution
APAC Tunnel Sensor Market – By Services
APAC Tunnel Sensor Market – By Connectivity
APAC Tunnel Sensor Market – By Application
APAC Tunnel Sensor Market – By Country
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