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Vehicle Toll Collection and Access System Industry Share, Market Size, Growth, Trends, Global Statistics, Sales and 2018-2023 Future Insights | 360 Market Updates

Vehicle Toll Collection and Access System

Vehicle Toll Collection and Access System Market (2018 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Vehicle Toll Collection and Access System market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.

Vehicle Toll Collection and Access System Market report is anticipated to register a CAGR of 14% over a five years forecast period (2018 – 2023).”

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List of Major Key players operating in the Global Vehicle Toll Collection and Access System Market are –

  • Vehicle Access
  • Magnetic Autocontrol
  • Nedap
  • Take
  • Feig Electronics
  • 3M
  • Automatic Systems-IER Group
  • Tagmaster
  • Stid Electronic Identification
  • Automatic Boom Barriers
  • TRMI
  • Infotek Software and Systems
  • TransCore
  • Mark IV Industries
  • Toll Collect
  • Schneider Electric
  • Siemens Electronic Trolling

Every construction and road needs maintenance and recovery. The cost of maintenance and recovery of highways, roads, bridges, and tunnels is collected directly or indirectly from public. This is known as toll collection. The practicability of this tax collection was first raised in the European market and then later moved to the North American market. With the APAC and African road infrastructure market still in the developing phase, the vehicle toll collection and access system market is expected to grow at a CAGR of around 14% by the end of 2023. The major vendors around the world supporting this technology are 3M, Schneider Electric, TRMI, Feig Electronics, and Magnetic Auto Control.

The Developed Market

The market is primarily driven by the advancement in the toll collection systems of various geographies, especially North America and Europe. The toll collection system incorporates the entire manufacturing and installation of hardware and software components. The scope of the report also includes the vehicle access systems involved in the tolling collection process in toll booths (primarily the access gate).

Road tolls are levied traditionally for a specific access or infrastructure only. However, the evolution of technology has made it possible to implement tolling policies based on a multitude of usage concepts. The charging concepts are currently based on suiting different requirements regarding the purpose of the charge, charging policy, the infrastructural network, etc. Road tolls were primarily introduced in Europe only to finance the construction of motorway networks and specific transport infrastructure such as bridges and tunnels, driven by Italy when it charged motorway tolls, on a 50 km motorway section near Milan in 1924. France, Greece, Spain, and Portugal followed Italy, getting involved in building motorways, making way for the rapid development of infrastructure without much state debt. It is from then on that road tolls have been introduced in a majority of the EU Member States.

The Working of Modern Toll Gates

The introduction of magnetic stripe swipe cards and contactless Radio Frequency Identification (RFID) badges in the early eighties has initiated the birth of vehicle access control tolling industry. The predominant technology used in vehicle access is the microwave technology – 2.45 GHz readers are used to identify cars and other vehicles that are equipped with semi-active or active badges. The RFID readers mounted at toll booths, interpret, and read the prepaid RFID tags attached to a vehicle’s windshield with the help of this technology, and the respective amount gets automatically deducted. When the tags are removed from the windshield, cameras fixed at two sites at toll plazas take photographs of the front and back number plates. The toll can be deducted automatically from the bank account. The electronic toll collection system significantly helps to reduce delays caused on toll roads by providing easy and quick access to drivers. Advancements in the toll collection systems are based on latest technology and help eliminate congestion on highways and in urban areas.

Market Technologies

The video analytics technology helps to identify and record violations. Also, it uses special cameras to take photographs of the violating vehicle’s license plate. Automatic Vehicle Identification (AVI) and RFID technology introduced a new aspect in vehicle access and tolling industry. Automatic Vehicle Identification (AVI) helps to determine the identification or ownership of the vehicle so that the toll will be charged to the corresponding customer. It is used in applications like toll collection, vehicle management, traffic management, and safety and law enforcement. These advances in toll collection help in eliminating traffic on highways in urban areas. Depending on application, the toll collection and vehicle access system market is segmented into highway and urban bridges.

The toll collection systems market will generate the maximum revenue from roads, followed by the revenue generated from bridges. In addition, the magnetic highway barriers are expected to see the highest growth rate among all the tollgates due to their greater functional scope, additional extensibility, and increasing application.

North America and Europe have the largest market for toll collection and vehicle access systems. Several developed and developing countries across the world adopt new technology, driving the market. It is expected that this growth rate will double in these countries during forecast period. An increase in automotive sales in the Indian and Chinese markets, along with the development of roadways and highway paves the way for increased growth of the vehicle toll collection and access system market in the forecasted period.

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Scope of the Report:

The report analyses Vehicle Toll Collection and Access System market, which includes –

  • Analysis of the growth of Vehicle Toll Collection and Access System market in global and regional level including Asia-Pacific, Americas, and EMEA.
  • The report provides Vehicle Toll Collection and Access System market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
  • The report offers country level Vehicle Toll Collection and Access System market volume and value by end-user segment for the period 2012-2023.
  • Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Vehicle Toll Collection and Access System market are discussed.
  • The report provides competitive landscape at country level for the year 2018. It also covers key policies and initiatives, key deals, and key upcoming projects.

Highlighted points of Vehicle Toll Collection and Access System Market Report:

  • Varying dynamics of the Vehicle Toll Collection and Access System industry.
  • Prospective changes in sales volumes and worldwide share growth in upcoming years (2018-2023).
  • Vehicle Toll Collection and Access System market report recognizes the key drivers of growth and challenges of the key industry players.
  • Competitors profiles along with product description, overview, and business data.
  • A complete analysis of market risks, opportunities, limitations, and growth of the market.
  • Market driving and restraining factors.
  • Delivers information on the historical and current market size and the future potential of the market.
  • Vehicle Toll Collection and Access System market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.

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Reasons to Purchase Vehicle Toll Collection and Access System Market Report:

  • The report analyses how stringent emission control norms will drive the global Vehicle Toll Collection and Access System market.
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
  • Study on the product type that is expected to dominate the market.
  • Study on the regions that are expected to witness the fastest growth during the forecast period.
  • Identify the latest developments, market shares and strategies employed by the major Vehicle Toll Collection and Access System market players.
  • 3 months’ analyst support along with the Market Estimate sheet (in excel).

In this study, the years considered to estimate the market size of Vehicle Toll Collection and Access System:

History Year: 2013-2017
Base Year: 2017
Estimated Year: 2018
Forecast Year 2018 to 2023

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