According to a study by FMI, the tunnel monitoring system market is expected to reach USD 455.4 million in 2023 and USD 1.5 billion by 2033. Market predictions indicate that over the next 10 years, the market will grow at a CAGR of 12.4% during the forecast period.
With the increasing focus on infrastructure development, particularly in transportation and underground projects like tunnels, tunnel monitoring systems have become more common. Transport networks and connectivity are being improved through tunnel construction by governments and private organizations.
The growing focus on infrastructure development, particularly in transportation and underground projects such as tunnels, has driven the demand for tunnel monitoring systems. Governments and private organizations are investing heavily in tunnel construction to improve transportation networks, enhance connectivity, and ensure the safety of these critical structures.
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As tunnel monitoring systems become more available at low costs, a wide range of sensors are becoming readily available. Energy conservation and operational cost reduction can be achieved through tunnel monitoring systems. Based on conditions such as traffic volume and environmental factors, they can optimize lighting, ventilation, and other systems. In addition to saving energy and reducing carbon emissions, this improves sustainability in the market.
Tunnel monitoring systems are widespread in numerous countries, including the United States and China. Providing operators and authorities with real-time information and continuously monitoring various parameters, these systems play a key role in ensuring tunnel safety and security.
Traffic congestion is increasing as urbanization and population growth accelerate, resulting in the need for an efficient transportation system. Cities benefit greatly from tunnels because they relieve congestion and facilitate smooth transportation. Tunnels and associated monitoring systems will become increasingly necessary as urbanization continues.
Key Takeaways from Market Study:
- The tunnel monitoring system market grew by 5% between 2018 and 2022.
- By 2033, the United States is expected to generate USD 212.3 million in revenue from tunnel monitoring systems.
- Railway tunnel monitoring systems market is expected to grow by 2% by 2033.
- A 2033 projection shows that Europe will generate 1% of tunnel monitoring systems.
- Tunnel monitoring systems in the United Kingdom are expected to generate USD 36.8 million by 2033.
- Japan’s tunnel monitoring system market is forecast to grow at a CAGR of 7% between 2023 and 2033.
- Wired networking technology is expected to grow at a CAGR of 12% by 2033.
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Key Market Players:
Many prominent players in the tunnel monitoring system market are investing heavily in improving their manufacturing capabilities. Tunnel monitoring systems are being developed by a number of companies, including:
- Sisgeo Srl
- Nova Metrix LLC
- James Fisher
- Sixense
- Soldata
- Cowi A/S
- Geokon
- RST Instruments Ltd.
- Fugro
- Geocomp
- Keller Group
- Geomotion (Singapore) Pte Ltd.
Key Market Developments:
- In June 2023, Staunton will launch an $ 80,000 flood warning system to alert businesses and residents. Staunton is constructed over the confluence of Lewis and Peyton creeks, which merge beneath the Wharf District parking lot. In addition to being in a floodplain, parts of the city are particularly prone to flooding, such as the floods of August 2020 that destroyed homes and businesses.
- In June 2023, HS2 will unveil its fourth twin-bore tunnel-digging machine. As the route makes its way to Birmingham’s Curzon Street station, it will stretch from Water Orton in North Warwickshire to Washwood Heath in Birmingham. With about 450 workers on the project, the TBM will run continuously for 16 months per bore.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global tunnel monitoring system market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the tunnel monitoring system market, the market is segmented on the basis of tunnel type, networking technology, offering, and region.
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Key Segments in Tunnel Monitoring System Market
By Tunnel Type:
- Railway Tunnels
- Highway Tunnels
- Other Tunnels
By Networking Technology:
- Wireless
- Wired
By Offering:
- Hardware
- Sensors
- Data Acquisition System and Communication Systems
- Others
- Software
- Services
- Design and Installation Services
- Real-Time Monitoring Services
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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