The tunnel sensor market in SAM is expected to grow from US$ 141. 43 million in 2019 to US$ 192. 56 million by 2027; it is estimated to grow at a CAGR of 4. 1% from 2020 to 2027. There has been a growing acceptance for tunnel automation and monitoring solutions in SAM in the past few years.
New York, Oct. 26, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "South America Tunnel Sensor Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Solution, Services, Connectivity, and Application" - https://www.reportlinker.com/p05978938/?utm_source=GNW
Factors such as improved operational efficiency, enhanced productivity, and reduced costs are revolutionizing the industrial sector in the region.
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.Digital transformation and process automation have the potential to create unparalleled opportunities for businesses.
This shift in preference is fueling the adoption of advanced tunnels sensors that help automate the tunnel monitoring systems, thereby reducing the number of accidents and decreasing the costs involved in tunnel maintenance.Tunnel automation solutions benefit the users through reduced costs, increased accuracy, enhanced productivity, environmental benefits, and enhanced regulatory compliance, among others.
Also, the number of government regulations favoring the automation of tunnel systems is growing at an excellent pace in countries such as South Africa and the UAE. The decreasing costs of tunnel sensors and rise in developments involving incorporation of technologies such as IoT in tunnel monitoring solutions are among the key factors driving the adoption of different types of tunnel sensors across the MEA. Further, increasing tunnel safety concerns in the SAM region is another factor contributing to the surge in demand for tunnel sensors.
The wired segment led the SAM tunnel sensor market, based on connectivity, in 2019.The upsurge in infrastructural developments across SAM, especially in developing countries, has led to an increased rate of tunnel construction, which is in turn propelling the demand for efficient tunnel sensor solutions.
As tunnels in remote areas, such as hilly regions, are prone to water leakage, it is imperative for manufacturers to manufacture impermeable wired sensors; they also need to take precautions while installing these sensors to avoid any possible entry of water into tunnels, which would otherwise lead to short circuits.In remote areas, wired tunnel sensors are preferred over wireless tunnel sensors due to the lack of efficient network connectivity for real-time monitoring.
In developing countries, the demand for wired sensors is greater than the wireless variants due to the low adoption rate of advanced technologies.
The COVID-19 pandemic is severely affecting the SAM region.In the region, Brazil has the highest number of confirmed cases, followed by Ecuador, Peru, Chile, and Argentina.
The governments of various South American countries are imposing lockdowns, trade bans, and travel restrictions to protect people and to contain the spread of infection in the region.These measures are expected to have a direct impact on the region’s economic growth as it experiences lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to major trading partners.
The presence of various developing nations makes South America one of the major markets for the tunnel sensor market growth during 2020–2027.However, a sharp decline in manufacturing, construction, and infrastructure development activities in this region would lower the demand for these sensors in the coming quarters.
In addition, the supply chain disruptions and no availability of raw materials would also aggravate the problems for various industries operating in this region.
The overall SAM tunnel sensor market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the tunnel sensor market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants typically associated with this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the SAM tunnel sensor market. ACOEM; CODEL International Ltd; DURAG Group; Geonica, SICK AG; Trolex Ltd are among a few players operating in the market in this region.
Read the full report: https://www.reportlinker.com/p05978938/?utm_source=GNW
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