Press release
Tunnel Monitoring System (TMS) Market - Growing Investments In Different Tunnel Infrastructure
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Across the globe, growing field of research and development in subsea monitoring systems is one of the major factors driving the growth of the tunnel monitoring system market. Additionally, growing government investments towards underwater & underground tunnel is estimated to increase the adoption of tunnel monitoring systems in the coming years. The market is likely to expand at a stable rate during the forecast period owing to the rising penetration of this market across the globe.
The global tunnel monitoring system (TMS) market has been classified on the basis of components, technology, tunnel type, application and geography. Based on components, the tunnel monitoring component market has been segregated into hardware, software and service. In 2017, hardware segment held major share of the market. In addition, hardware segment is likely to expand at a high CAGR during the forecast period. This is mainly due to hardware is one of the most important component of a tunnel monitoring system and is used for measuring the various physical aspects.
On the basis of technology, the tunnel monitoring system market has been segmented into two wired and wireless. In terms of revenue, wireless segment held the largest share in the global tunnel monitoring systems market in 2017. This is mainly due to the wireless-based monitoring system is based devices is growing at a rapid pace in railway tunnel projects. Based on tunnel type, the tunnel monitoring systems market is fragmented into highway, railway, others. Highway segment held the largest market in 2017 and is anticipated to maintain its dominance in 2025 as well.
The global tunnel monitoring system market has been segmented on the basis of application into strain, cracks, pressure, temperature, dynamic load, and corrosion among others. The tunnel monitoring system market is primarily driven by growing investments in different tunnel infrastructure across developed and underdeveloped countries such as U.S., U.K., France, China, Japan, Russia and India among others. Moreover, the strict government rules and regulations pertaining to tunnel safety and adoption of these devices at a rapid pace is also expected to drive the market during the forecast period.
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However, high operational and investment cost are anticipated to be the most important factors restraining the growth of the global tunnel monitoring systems market during the forecast period. Furthermore, while mentioning underground structures, there is always the problem of accessibility, which leads to the use of remote monitoring based on wireless technology. This in turn is anticipated to create major challenges for the wireless based tunnel monitoring systems (TMS) manufacturers in coming years.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations
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