Automatic toll payment machines are installed to provide toll payment option to customers without interference of human operators and to reduce traffic congestion at toll collection booths. The automatic toll payment machines are equipped with LCD/LED display screen, and include menu for user instructions. In addition, these machines can determine and display different toll rates based on the time of the day. Furthermore, they enable payment via cash or card, and display allows choice of tolls based on class and type of vehicle.
The market is anticipated to witness significant growth over the years, owing to adoption of automatic toll payment machines in developing countries and increase in demand for efficient traffic management at toll collection centers.
The U.S. & Europe automatic toll payment machine market is segmented into component and application. The report provides information on the components of automatic toll permanent machines such as hardware, software, and service. Furthermore, the applications covered in the study include tollink, transportation, parking, kiosk, and others.
The key players analyzed in the automatic toll payment machine market include A-to-Be, Tecsidel, Indra, ASELSAN A.Ş., Kapsch TrafficCom, SICE, Sigma, G.E.A, and VITRONIC.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Component
By Application
By Region
KEY MARKET PLAYERS
The market is anticipated to witness significant growth over the years, owing to adoption of automatic toll payment machines in developing countries and increase in demand for efficient traffic management at toll collection centers.
The U.S. & Europe automatic toll payment machine market is segmented into component and application. The report provides information on the components of automatic toll permanent machines such as hardware, software, and service. Furthermore, the applications covered in the study include tollink, transportation, parking, kiosk, and others.
The key players analyzed in the automatic toll payment machine market include A-to-Be, Tecsidel, Indra, ASELSAN A.Ş., Kapsch TrafficCom, SICE, Sigma, G.E.A, and VITRONIC.
KEY BENEFITS FOR STAKEHOLDERS
- This study presents the analytical depiction of the U.S. & Europe automatic toll payment machine market along with the current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to enable stakeholders gain a stronger foothold in the market.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current market is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the market.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers.
KEY MARKET SEGMENTS
By Component
- Hardware
- Software
- Service
By Application
- Tollink
- Transportation
- Parking
- Kiosk
- Others
By Region
- U.S.
- Europe
KEY MARKET PLAYERS
- A-TO-BE
- Tecsidel, S.A.
- Eltra
- Indra Sistemas, S.A.
- Aselsan A.Ş.
- Kapsch Trafficcom
- Sice
- Sigma S.P.A.
- G.E.A.
- Vitronic
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: U. S. & Europe Automatic Toll Payment Machine Market, by Component
Chapter 5: U. S. & Europe Automatic Toll Payment Machine Market, by Application
Chapter 6: U. S. & Europe Automatic Toll Payment Machine Market, by Region
Chapter 7: Company Profiles
Executive Summary
According to the report titled, 'U.S. & Europe Automatic Toll Payment Machine Market by Component, and Application: Opportunity Analysis and Industry Forecast, 2020-2027', the U.S. & Europe automatic toll payment machine market size was valued at $63.9 million in 2019, and is projected to reach $101.5 million by 2027, registering a CAGR of 5.7% from 2020 to 2027.By region, U.S. dominates the market presently, followed by Europe. Europe is anticipated to exhibit a remarkable growth during the forecast period.
Automatic toll payment machines are the machines that are installed on the entry or exit of the infrastructure which allows the customer to make toll payment without any need of other staff. This automatic toll payment machine offers both card and cash mode of payment. The machine consist of LCD/LED display screen and buttons for input from the customer. In addition, the user can enter the vehicle model and other required fields and the machine displays the calculated toll. Further, the automatic toll payment machine reduce the time lag and thus helps to carry out the payment operation at the toll booth efficiently.
Hardware plays a key role in automatic toll payment machine, which is accountable for displaying content to users, accepting cash, and printing receipt. Companies operating in the market are focusing on development of advanced hardware for automatic toll payment machines, owing to rise in demand for these machines, which, in turn, is creating lucrative growth opportunities for players operating in the automatic toll payment machine market. In addition, Software equipped in the automatic toll payment machines are responsible for toll calculations, depending on the type or class of the vehicle, and maintain the track of toll collected. Software in automatic toll payment machines plays an important role for toll calculation and operation of machine. In addition, the demand for automatic toll payment machine for various applications such as tollink, transportation, and parking is increasing, which, in turn, drives the growth of the automatic toll payment machine market for software.
Services associated with manufacturing operation management include engineering services, optimization services, consulting services, implementation services, managed services, installation services, and support services. Rise in need for improved parking infrastructure and increase in demand for these machines to reduce traffic congestion significantly contribute toward the growth of the automatic toll payment machine market.
Automatic toll payment machines that are installed on highways for toll collection are considered under this segment. These machines are witnessing increased demand for controlling traffic congestion on highways, thereby reducing time of toll collection and providing smooth operation. This factor significantly contributes toward the growth of the automatic toll payment machine market. Toll collection done by human operators is time consuming, and it becomes difficult to keep a track of revenue collected by human operators as compared to automatic toll payment systems. The automatic toll payment system makes the process of toll collection faster, tracks the transactions done by cash or card, thus driving the growth of the market.
Automatic toll payment machines that are installed on metros, bus, or other stations for passengers are considered under this segment. These machines allow passengers to book tickets at the station for desired location, thus reducing the time and increasing the efficiency of operation. Adoption of automatic toll payment machines at metro and bus stations provides smooth and effective operations at stations with any congestion, which, in turn, drives the adoption of automatic toll payment machines for transportation. In addition, Increase in urbanization and surge in pollution are the key factors that boost the need for improved parking infrastructure, which, in turn, is driving the growth of automatic toll payment machine market, and provides potential growth opportunity for the players operating in the market.
Increase in demand for efficient traffic management at toll collection centers is a key factor that drives the growth of the U.S. &Europe automatic toll payment machine market. In addition, improvement in parking infrastructure is anticipated to propel the growth of market. However, high installation and operational cost of automatic toll payment machine hinders the growth of market. On the contrary, surge in adoption of automatic toll payment machines in developing countries is anticipated to provide lucrative growth opportunity for players operating in the automatic toll payment machine market.
Key Findings Of The Study
On the basis of component, the service segment is anticipated to exhibit a remarkable growth during the forecast period.
By application, the transportation segment was the highest contributor to the global market in terms of revenue in 2019.
Region wise, Europe is anticipated to register the highest growth rate, followed by U.S. from 2020 to 2027.
The key players analyzed in this U.S. and Europe automatic toll payment machine report are A-to-Be, Tecsidel, Indra, ASELSAN A.Ş., KapschTraffic Com, SICE, Sigma, G.E.A, and VITRONIC
Companies Mentioned
- A-to-Be
- Tecsidel
- Indra
- ASELSAN A.Ş.
- KapschTraffic Com
- SICE
- Sigma
- G.E.A
- VITRONI
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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