Global Toll Management Systems Market Overview:
In tool booths, toll management systems are used to manage number plate scanning, vehicle identification, and automatic toll collecting, among other things. Toll booths are typically located in rural areas, making human resource allocation problematic in these areas. In the absence of human personnel, toll management systems are employed to carry out the operations and functions of the toll booth. Toll management system is a cutting-edge device that collects tolls automatically without the need for the driver to stop. To successfully manage traffic in congested locations, it employs current technical solutions such as GPS, GNSS, and DSRC, as well as tracking and toll collection technologies and video analytics. The global electronic toll collection market is expanding due to an increase in demand for transportation infrastructure that is both safe and efficient. Furthermore, technological developments in this industry, such as the use of GNSS and GPS technology in Japan's electronic toll collecting systems, have compelled governments all over the world to invest heavily in toll lanes, fueling the expansion of the electronic toll collecting market. Furthermore, government backing for the development of new standards and rules for the implementation of these systems and tolling has aided the industry's development. Some of the players profiled in the study are Bestpass Inc (United States), Kapsch TrafficCom (Austria), Conduent Business Services (United State), EFKON GmbH (Austria), TransCore (United States), Thales Group (France), Raytheon Technologies Corporation (United States), Cubic Corporation (United States), Siemens (Germany) and Neology, Inc. (United States).
On the basis of geography, the market of Toll Management Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. RFID will boost the Toll Management Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-Use, the sub-segment i.e. Highways will boost the Toll Management Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Effective Solution to Reduce Traffic Congestion, Accidents, and Environmental Pollution
- Greater Convenience and Flexibility of Cashless Payments
- Increased Use of Advanced Digital Technologies in Transportation Infrastructure
- High Initial Installation & Operational Cost
- Strong Government Support to Accelerate Electronic Toll Collection
- Technological Advancements
- Rising Number of Public-Private Partnership Agreements In Transportation Sector
- Issues Related to Interoperability, Common Standards, as Well as Selection of Toll Technology
March 2021- Bestpass, the comprehensive payment platform provider that is the leader in toll management solutions for commercial fleets, recently acquired the Maryland Motor Truck Association (MMTA) toll management program, adding more than 400 commercial fleets to its customer base.
Target Audience:System Providers, Technology Providers, Toll Management Systems Companies, Governmental Bodies and Others
Major Objectives Focused through this Study To define, describe, and forecast the Global Toll Management Systems market on the basis of product  , application [Vehicle Identification, Vehicle Classification, Violation Enforcement System and Transaction Processing], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Toll Management Systems market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Toll Management Systems industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Feig Electronic GmbH (Germany) and VINCI (France).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Toll Management Systems market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.