Automatic Tolling System Market in North America is Anticipated to Grow at a CAGR of 4.6% from 2021 to 2028

Dublin, Oct. 07, 2021 (GLOBE NEWSWIRE) -- The "North America 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 the market research study on "North America Automatic Tolling System Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Offering and Type" is expected to reach US$ 3,045.86 million by 2028 from 2,228.71 US$ million in 2021. The market is estimated to grow at a CAGR of 4.6% from 2021 to 2028.

The report provides trends prevailing in the North American automatic tolling system market along with the drivers and restraints pertaining to the market growth. Benefits to the economy and public safety, in the long run, is the major factor driving the growth of the North America automatic tolling system market. However, the issue associated with chances of leakage and huge CapEx & OpEx costs hinders the growth of the North American automatic tolling system market.

The North American automatic tolling system market is segmented into offering and type. Based on offering, the North American 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 North American automatic tolling system market is segmented into the US, Canada, and Mexico.

North America is among the worst-hit regions by the COVID-19 pandemic. The US, Canada, and Mexico have witnessed a significant rise in the number of COVID-19 infected patients. COVID-19 outbreak has negatively impacted manufacturing and construction businesses in the region in four critical areas, such as supply chain/operations, workforce, 2020 investments, and product offering, as well as the transportation sector also affected due to the non-movement of vehicles. There has been a disruption in the supply chain of many industries due to restrictions in logistics and the closing of manufacturing facilities.

The outbreak of COVID-19 has brought effects on many aspects, such as flight cancellations; lockdown & restrictions imposed, travel bans. As a result of all these travel bans and restrictions, there have been extraordinary changes in traffic volumes, transits, and toll collection revenues. As a result of less toll collection, the up-gradation of older toll systems to advanced tolling systems is at a halt, impacting the growth of the North American automatic tolling system market. However, in 2021, with the uplifting of lockdown restrictions and vaccination processes, the road and highway construction and developments have started again, helps in creating a positive scenario for the automatic tolling system market growth.

Companies Mentioned:

• Conduent Business Services, LLC

• Feig Electronic

• IBI Group

• Indra Sistemas, S.A.

• Iteris, Inc.

• Neology Inc.

• Raytheon Technologies Corporation

• Siemens Mobility

• STMicroelectronics N.V.

• Tecsidel, S.A.

• Thales Group

• TransCore, LP

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, IBI Group has been assigned by the Mackinac Bridge Authority (MBA) to provide a turnkey toll system to replace the existing system at the Mackinac Bridge in Northern Michigan

Key Topics Covered:

1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

4. North America Automatic Tolling System Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion

5. North America Automatic Tolling System Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Benefits to the economy and public safety in the long run
5.2 Market Restraints
5.2.1 Chances of leakage and huge CapEx & OpEx costs
5.3 Market Opportunities
5.3.1 Rising Need for effective toll management systems in various economies
5.4 Future Trends
5.4.1 Upcoming of advanced technologies to make highly effective tolling systems
5.5 Impact Analysis of Drivers and Restraints

6. Automatic Tolling System Market - North America Analysis
6.1 North America Automatic Tolling System Market Overview
6.2 North America Automatic Tolling System Market Revenue and Forecast to 2028 (US$ Million)

7. North America Automatic Tolling System Market Analysis - By Offering
7.1 Overview
7.2 North America Automatic Tolling System Market Breakdown, By Offering (2020 and 2028)
7.3 Hardware
7.4 Services

8. North America Automatic Tolling System Market Analysis - By Type
8.1 Overview
8.2 North America Automatic Tolling System Market Breakdown, By Type (2020 and 2028)
8.3 Unmanned Self-Service Automated Toll Booth Collection System
8.4 Unmanned Automated Toll Booth Collection System
8.5 Unmanned Wireless Automated Toll Booth Collection System

9. North America Automatic Tolling System Market - Country Analysis
9.1 Overview
9.1.1 North America: Automatic Tolling System Market, by Key Country
9.1.1.1 US: Automatic Tolling System Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.2 Canada: Automatic Tolling System Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.3 Mexico: Automatic Tolling System Market - Revenue and Forecast to 2028 (US$ Million)

10. North America Automatic Tolling System Market - COVID-19 Impact Analysis
10.1 North America: Impact Assessment of COVID-19 Pandemic

11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Development

12. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/u04hew

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