0

U.S. & Europe Automatic Toll Payment Machine Market Expected to Reach $ 101.5 million by 2027

 
2022
U.S. & Europe Automatic Toll Payment Machine Market

Report Code : A06123

quote By component, the hardware segment dominated the U.S. & Europe automatic toll payment machine market in 2019, in terms of revenue. In addition, on the basis of application, the kiosk segment is anticipated to exhibit remarkable growth rate during the forecast period. At present, the U.S. is the highest revenue contributor, followed by Europe quote

Lalit Katare & Anvay Sonpimple
Lead Analysts, Automotive and Transportation at AlliedMarket Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a recent report published by Allied Market Research, 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.Åž., KapschTraffic Com, SICE, Sigma, G.E.A, and VITRONIC. 

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote U.S. & Europe Automatic Toll Payment Machine Market by Component (Hardware, Software, and Service) and Application (Tollink, Transportation, Parking, Kiosk, and Others): Opportunity Analysis and Industry Forecast,2020–2027 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Nov 2024

Plush Toy Market

Download Sample

Buy Full Version
"U.S. & Europe Automatic Toll Payment Machine Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers