ADVERTISEMENT
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

European Automatic Tolling System Market: Among the Leading Companies are Conduent Transportation, Neology and Feig Electronics - ResearchAndMarkets.com

October 29, 2021 GMT

DUBLIN--(BUSINESS WIRE)--Oct 29, 2021--

The “Europe Automatic Tolling System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Offering, and Type” report has been added to ResearchAndMarkets.com’s offering.

According to a new market research study on “Europe Automatic Tolling System Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Offering and Type” is expected to reach US$ 3,647.29 million by 2028 from 2,486.94 US$ million in 2021.

The market is estimated to grow at a CAGR of 5.6% from 2021 to 2028. The report provides trends prevailing in the Europe automatic tolling system market along with the drivers and restraints pertaining to the market growth.

ADVERTISEMENT

Growing demand for effective toll management systems in European countries is the major factor driving the growth of the Europe automatic tolling system market. However, the issue associated with high CapEx & OpEx expenditures hinders the growth of Europe automatic tolling system market.

The Europe automatic tolling system market is segmented into offering and type.

Based on offering, the Europe automatic tolling system market is segmented into hardware and services. The services segment held the largest market share in 2020. Based on type, the automatic tolling system market is segmented into unmanned self-service automated toll booth collection system, unmanned automated toll booth collection system, and unmanned wireless automated toll booth collection system.

The unmanned automated toll booth collection system segment led the automated tolling system market in 2020. Based on country, the Europe automatic tolling system market is segmented into France, Germany, Italy, UK,, Russia, and rest of Europe.

In Europe, the France is the hardest-hit country by the COVID-19 outbreak. It is expected to suffer an economic hit due to a lack of revenue from various industries. Additionally, with the outbreak of another variant of COVID-19 in the UK, has affected the installation of automatic tolling system across the Europe region.

ADVERTISEMENT

Further, the businesses in the region (such as manufacturing and road & highway construction industries) faces severe economic difficulties as they had to suspend their operations or substantially reduce their activities. Moreover, the automatic tolling systems are a combination of several electronic components and devices, such as transponders, cameras, RFID chips, controllers, and processors. As a result, borders are sealed, and strict lockdowns are enforced as preventive measures, thereby having a direct impact on the supply chain of electronic components and devices.

Anticipated delay in supply of raw materials to manufacturers who meet the requirements of tolling system integrators, as well as delay in delivery of products, leading to the supply chain disruptions in 2020. But now in 2021, with the uplifting of lockdowns and vaccination process, the road and highway construction activities have started again, and the raw material are easily available. Thus, this will lead the growth of automatic tolling system market in the region.

Conduent Business Services, LLC; Feig Electronic; IBI Group; Indra Sistemas, S.A.; Neology Inc.; Raytheon Technologies Corporation; Siemens Mobility; STMicroelectronics N.V.; Tecsidel, S.A.; Thales Group; and TransCore, LP are among the leading companies in the Europe automatic tolling system market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Conduent Transportation is selected by the UK Department of Transport’s Highways England to implement and manage an automated free-flow charging solution for the Dartford-Thurrock Crossing of the River Thames east of London

Reasons to buy:

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe automatic tolling system market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the Europe automatic tolling system market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the automatic tolling system market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Companies Mentioned

  • Conduent Business Services, LLC
  • Feig Electronic
  • IBI Group
  • Indra Sistemas, S.A.
  • Neology Inc.
  • Raytheon Technologies Corporation
  • Siemens Mobility
  • STMicroelectronics N.V.
  • Tecsidel, S.A.
  • Thales Group
  • TransCore, LP

For more information about this report visit https://www.researchandmarkets.com/r/drg6k8

View source version on businesswire.com:https://www.businesswire.com/news/home/20211029005225/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

KEYWORD: EUROPE

INDUSTRY KEYWORD: SOFTWARE TECHNOLOGY PROFESSIONAL SERVICES FINANCE

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 10/29/2021 06:56 AM/DISC: 10/29/2021 06:56 AM

http://www.businesswire.com/news/home/20211029005225/en