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Friday, 15 January 2021
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The News and Media Division of The Insight Partners
Thursday, 14 Jan 2021 01:00 am

Asia Pacific Tunnel Sensor Market Forecast to 2027 By ACOEM, SICK AG, DURAG GROUP, Trolex Ltd., Safibra, s.r.o.

The COVID-19 outbreak is anticipated to affect the growth rate of Asia Pacific Tunnel Sensor market in the year 2020 and 2021 and thus there is sharp decline in y-o-y growth during these years. However, the growth is expected to normalize from 2021 onwards and the market is projected to grow at a steady pace.

By SMN Bureau

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

  • Visibility Monitoring
  • Air Flow Monitoring
  • Air Quality Monitoring
  • Filter Monitoring
  • Fire Monitoring
  • Others

APAC Tunnel Sensor Market – By Services

  • Installation Services
  • Maintenance Services
  • Consulting Services

APAC Tunnel Sensor Market – By Connectivity

  • Wired
  • Wireless

APAC Tunnel Sensor Market – By Application

  • Road Tunnels
  • Rail Tunnels
  • Others

APAC Tunnel Sensor Market – By Country

  • China
  • India
  • Australia
  • Japan
  • South Korea
  • Rest of APAC

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SMN Bureau

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