Vehicle Toll Collection and Access System Market: Introduction
- Vehicle toll collection and access system enables the mode to collect maintenance and cost recovery charges for highways, tunnels, and bridges. Vehicle toll collection and access systems have evolved into a digital and speedy mode that helps mitigate traffic woes and congestion.
Key Drivers of Vehicle Toll Collection and Access System Market
- Governments of developing countries have identified the development of infrastructure as a key factor to boost their respective economies. Increased public investments in construction of highways, bridges, and tunnels to connect rural and urban areas and investments for future mega cities and smart cities are projected to drive the vehicle toll collection and access system market.
- Technological advancements in the toll collection system, such as integration of software and sensors, and increasing use of vehicle toll collection and access system in intelligent transport infrastructure are estimated to boost the market during the forecast period
Electronic toll collection segment to expand significantly
- The electronic toll collection segment held a leading share of the global market owing to its high adoption across roadways worldwide. The segment is anticipated to expand at a high growth rate during the forecast period. The electronic toll collection segment can be further sub-segmented into (RFID, DSRC, Video Analytics, and GNSS/GPS). Electronic toll collection systems are dominatingly RFID- and DSRC-based and further technology developments are anticipated to boost the adoption of Video Analytics based toll collection system
North America held a leading share of global vehicle toll collection and access system market
- North America contributed to leading share of the vehicle toll collection and access system market owing to high rate of adoption of vehicle toll collection and access system in the U.S. North America is followed by Europe, with Germany, U.K., and France contributing to high share of the vehicle toll collection and access system market in Europe.
- Infrastructure development is booming in China, India, and countries in ASEAN, which is estimated to boost the demand for the vehicle toll collection and access system in Asia Pacific. The market in Asia Pacific is projected to expand at a significant growth rate during the forecast period.
Key Players Operating in Vehicle Toll Collection and Access System Market
The global vehicle toll collection and access system market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the global vehicle toll collection and access system market are:
- Schneider Electric
- Fieg Electronics
- Siemens AG
- Thales Group
- Robert Bosch GmbH
- Efkon AG
- Mitusbhishi Heavy Industries
- Nedap N.V.
- TRMI Systems Integration
- TransCore Holdings
- Automatic Systems
Global Vehicle Toll Collection and Access System Market: Research Scope
Global Vehicle Toll Collection and Access System Market, by Toll Collection Type
- Barrier Toll Collection
- Entry/ Exit Toll Collection
- Electronic Toll Collection
- RFID Based Electronic Toll Collection
- DSRC Based Electronic Toll Collection
- Video Analytics Based Electronic Toll Collection
- GNSS/GPS Based Electronic Toll Collection
Global Vehicle Toll Collection and Access System Market, by Application Type
Global Vehicle Toll Collection and Access System Market, by Toll Gate Type
- Magnetic Access Barrier
- Magnetic Highway Barrier
- Magnetic High-Speed Barrier
Global Vehicle Toll Collection and Access System Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.