Acumen Research and Consulting estimates that global automatic toll payment machine market is expected to reach the market value of around US$ 350 Mn by 2027 and is anticipated to grow at a CAGR of around 6% in terms of revenue during the forecast period 2020 – 2027.
Machines which are installed at the entrance or exit of the infrastructure are automated toll payment machines which allow the customers to make the payment on their toll without any workers. This automated system offers payment methods for cards and currency. The machine is made up of the LCD/LED display and buttons. The user may also insert the model and other appropriate fields and the measured toll will appear on the screen. In addition, the automatic toll payment system reduces the length of time and helps to effectively perform the payment operation at the toll stand.
The report provides analysis of global Automatic Toll Payment Machine market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.
A significant factor contributing to the growth of the global automatic toll payment machine market is the increase in demand for effective traffic control in toll collection centers. Furthermore, improvements in parking infrastructure are expected to promote market growth. However, higher installation and operational costs prevent the market growth of the automatic payment machine. The rise of automatic toll payment machines is anticipated to give players operating in the market of automatic toll payment machinery lucrative growth opportunities in developing countries.
Efficient Traffic Control Aspect Drives The Market
Proper and efficient traffic management ensures a smooth flow of traffic and saves time on the toll stand. The increase in domestic road traffic contributes to the extra congestion at interchangeable locations, which means loss of time and petrol. The new online pay-as-you-go program uses technology like RFID with an on-board device named tag, to directly pay to the pay-as-you-go wallet. In addition, it offers convenience to cross payment centers seamlessly, reducing traffic congestions. All of these factors jointly drive market growth.
In automatic toll payment machine, hardware plays a key role, making it responsible for displaying user content, cash acceptance and receipts. Market companies are focusing on developing advanced hardware for automated machines for toll payment, as a result of increased demand for those machines, which in turn gives players operating in the automatic toll payment machine market lucrative growth opportunities. In addition, toll calculations depending on the type of vehicle are carried out in the automatic machines equipped with the software and keep track of the toll collected. Computer toll estimation and service applications play a significant role in the target market. Moreover there is growing demand for car toll payment systems for specific purposes, such as tollinks, transport and parking, which in turn boosts the development of the market for automated electronic toll payment machines.
The market research study on “Automatic Toll Payment Machine Market (Automatic Toll Payment Machine Market By Type: Software, Hardware; Automatic Toll Payment Machine Market By Application: Urban Areas, Highways) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global Automatic Toll Payment Machine market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report covers global Automatic Toll Payment Machine market size, and segment markets by type, application, and geography along with the information on companies operating in the market. The Automatic Toll Payment Machine market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
The global Automatic Toll Payment Machine market is segmented as below:
Automatic Toll Payment Machine Market By Component
Automatic Toll Payment Machine Market By Application
Automatic Toll Payment Machine Market By Geography
Middle East & Africa
Key Players and Market Situation
Participants include major global players such Tecsidel, Indra, A-to-Be, KapschTraffic Com, ASELSAN A.?., G.E.A, SICE, VITRONIC, Sigma, and Others.
Efficient traffic control demand is a key driver of the market.
High capital investment required for setting up new facilities.
The market value of automatic toll payment machine is anticipated to be around US$ 350 Mn in 2027.
It is anticipated to grow around 6% CAGR amid the forecast period 2020-2027.
The key players operating in automatic toll payment machine market such as Tecsidel, Indra, A-to-Be, KapschTraffic Com, ASELSAN A.?., G.E.A, SICE, VITRONIC, Sigma, and Others.
Asia Pacific is projected to grow at a fast pace during forecast period 2020-2027.
North America held maximum share in 2019.