The automatic tolling system market in Europe is expected to grow from US$ 2,486.94 million in 2021 to US$ 3,647.29 million by 2028; it is estimated to grow at a CAGR of 5.6% from 2021 to 2028.
The toll collection centers are strategically placed toll plazas or collection units that are used for tax collection, congestion management, or collection of maintenance fees for public infrastructure.The volume of traffic flow plays a crucial role in determining the location of toll plazas and subsequently requires a robust and effective toll collection solution.
Over the past few years, a surge in congestion at toll plazas has been witnessed due to the increase in the number of vehicles crossing through the tolls.As a result, the toll plazas end up being responsible for increased fuel consumption for cars and high vehicular pollution due to congestion.
An electronic toll collection system offers a competent alternative solution to the current manual toll for minimizing the congestion at toll gateways and providing seamless transit transactions without the need for supervision.The electronic toll collection systems operate an account-based system that automatically identifies, classifies, and subsequently charges the vehicle owner as per the agency regulations without the need to stop at the toll plazas.
The effective deployment of ETC systems has versatile benefits such as reduction of vehicular pollution, congestion management, seamless transit transactions, and intelligent transportation services at expressways. Thus, the long-term benefits associated with the adoption of ETC systems are driving the market penetration of these systems across various emerging economies and are likely to provide profitable business opportunities for the market players during the forecast period.
Based on type, the unmanned automated toll booth collection systems segment led the Europe automatic tolling system market in 2020.The unmanned automated toll booths generally have no toll gate.
These toll systems look more like lanes and are usually marked specifically for drivers with a toll account linked to a toll pass.The drivers with toll passes can drive through the marked lane where an RFID reader can read the RFID tag located on the vehicle.
With the help of RFID readers, it automatically matches the license plate photo with the RFID tag and allows the driver for fast billing.This RFID technology helps in better managing the tollbooth crowd with a faster payment option.
For instance, Far Eastern Electronic Toll Collection Co., Ltd. offers an RFID-based electronic toll collection (ETC) solution. It is the largest multi-lane free flow and distance-based system in the world. Further, the RFID technologies help in efficiency improvement, tolling equity, and better transportation management, as well as petrol saving, CO2 reduction, and time-saving. Additionally, unmanned automated toll booth collection systems are widely used across the globe, and they consist of detection modules, audit modules, and enforcement modules for better functioning. With the growing digitalization and advanced technologies, the demand for unmanned automated toll booth collection systems will increase continuously.
In Europe, France is the hardest-hit country by the COVID-19 outbreak.It is expected to suffer an economic hit due to the lack of revenue from various industries.
Additionally, the outbreak of another variant of COVID-19 in the UK has affected the installation of automatic tolling systems across Europe.Further, the businesses in the region (such as manufacturing and road & highway construction industries) faced severe economic difficulties as they had to suspend their operations or substantially reduce their activities.
Moreover, automatic tolling systems are a combination of several electronic components and devices such as transponders, cameras, RFID chips, controllers, and processors.Borders were sealed and strict lockdowns were enforced to curb the spread of the virus, which has directly impacted the supply chain of electronic components and devices.
Anticipated delay in the 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. However, in 2021, with the release of lockdown measures and the beginning of the vaccination process, the road and highway construction activities have started again, and the raw materials are easily available. Thus, this will lead to the growth of the automatic tolling system market in the region.
The overall Europe automatic tolling system market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the Europe automatic tolling system market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe automatic tolling system market. 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 key players operating in the Europe automatic tolling system market.
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