Tunnel Monitoring System Market

Market Overview

The Global Tunnel Monitoring System Market is anticipated to grow in a significant way during the forecast period. It is estimated that the target market is growing to get valued around USD 0.89 Billion by 2026 from USD 0.41 Billion in 2021, growing at a CAGR of 13.7% over the period of 2021 to 2026.

Tunnel Monitoring Systems are the collection of numerous devices that are employed for analyzing & monitoring the environment of the tunnel in real-time dangerous and risky conditions. These systems allow the complete operational horizon monitoring, such as the tunnel health, atmospheric humidity and temperature, identifying the toxic gas, and many others with the real-time data. These tunnel monitoring systems can measure the tunnel condition during a vehicle is in a normal traffic condition.

These tunnel monitoring systems are required in various industries because of the risks that are involved with the development and continuance of tunnel infrastructure, which needs a better sense of precautionary measures. These devices find applications broadly in the railway stations and highways. The target market is a growing field of research that is attracting the rising interest among numerous government organizations for maintaining the safety of the tunnels. There are numerous types of techniques & parameters or approaches which are employed in these systems. The rising field of research & development in subsea monitoring systems is also propelling the industry's expansion.

Recent Developments

• DrChrono Inc. has entered into the partnership with Ricoh, for using some solutions that are developed by Ricoh as well as the explanation of Benefits into the practice management system.
• Worldsensing, one of the key players in the Global Tunnel Monitoring System Market, has announced that the Urbiotica is growing to acquire the Fastprk, which is its subsidiary.

Drivers and Restraints of Tunnel Monitoring System Market

The rapidly growing development of infrastructure for tunnels, all around the world, is the major factor that was driving the growth of the Global Tunnel Monitoring System Market. Also, rising concerns about the failure of tunnels owing to the risk of significant losses is another key factor that was augmenting the growth of the target market over the forecast period.

And the presence of numerous regulations & compliances about the imposition of safety measures in tunnels is further propelling the Tunnel Monitoring System Market's growth.

However, the high requirement of financial costs for the successful monitoring and the installation of these systems is the major restraint that was hampering the growth of the Global Tunnel Monitoring System Market. In addition, the requirement of large-scale computing capabilities owing to the need for analysis, processing & management of huge volumes of data generated is another factor that was challenging the target market's growth.

Nonetheless, rising trends of decreasing hardware costs, mostly the sensors, are creating lucrative opportunities for the expansion of the players in the Global Tunnel Monitoring System Market.

Impact of COVID-19 on the Tunnel Monitoring System Market

The impact of the COVID-19 on the Global Tunnel Monitoring System Market is in a very negative way. This negative effect of the pandemic on the market is attributed to the stalled construction industry owing to the implementation lockdown in various countries by their governments for avoiding the spread-out of the virus.

Market Segmentation of Tunnel Monitoring System Market

Based on the type of Offering, the global Tunnel Monitoring System market is segmented into Hardware, Software & Services, Design & Installation Services, Real-Time Monitoring System, Data Analysis & Reporting Services, and Preventative Maintenance & Repair Services. Of these, the Hardware segments is sub-segmented into Sensors, Data Acquisition Systems (DAS) & Communication Systems, Others.

And based on the type of Tunnel, the global Tunnel Monitoring System market is segmented into Highway Tunnels, Railway Tunnels, and Other Tunnels.

On the outlook of Network Technology, the global Tunnel Monitoring System market is segmented into Wired and Wireless.

And on the Application segmentation, the global Tunnel Monitoring System market is segmented as Strain, Cracks, Pressure, Temperature, Dynamic Load, Corrosion, and Others.

Tunnel Monitoring System Market Region wise analysis

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

In the regional analysis of the Global Tunnel Monitoring System Market, Europe held the major share of the market. The major factor that was driving the growth of the target market in the region is the presence of the well-established manufacturing industries in countries like Germany, France, and the UK, which are the major concentration units for hardware manufacturers and software developers of the tunnel monitoring systems. Moreover, the Europe Tunnel Monitoring System Market is expected to continue its dominance over other regions owing to the fact that this is one of the technologically advanced regions, worldwide.

Further, the Asia-Pacific Tunnel Monitoring System Market is expected to grow at the highest CAGR over the forecast period of 2020-2026. The major factors that are driving the growth of the target market in this region are the growth in the population and rapidly rising urbanization, which are leading to the growth in the usage of highways & railways. Moreover, various governments in the Asia-Pacific region are heavily investing in developing highways and railways for ensuring the connectivity across the region, which is resulting in the increase in the construction of tunnels among emerging economies like China, Japan, South Korea, and India.

Key Players of Tunnel Monitoring System Market

The key players of the Global Tunnel Monitoring System Market includes Tunnel Sensors Ltd., Monitoring Solutions, Worldsensing, Ricoh, Herrenknecht AG, Nova Ventures, HBM, Sisgeo Srl, SIXENSE Soldata, James Fisher and Sons plc, GEOKON, COWI A/S, Ramboll, RST Instruments Ltd., Geocomp Corporation, Fugro, Keller Group plc, Geomotion (Singapore) Pte Ltd, VMT GmbH, GeoSIG Ltd, Set Point Technologies, Autostrade Tech S.p.A., Infibra Technologies Srl, NBG Holding Gmbh, Sodis Lab among others.