Services Segment is Expected to be Fastest Growing During the Forecast Period

According to a new market research study on “SAM Automatic Tolling System Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Offering and Type” is expected to reach US$ 344.34 million by 2028 from 277.32 US$ million in 2021. The market is estimated to grow at a CAGR of 3.1% from 2021 to 2028. The report provides trends prevailing in the SAM automatic tolling system market along with the drivers and restraints pertaining to the market growth. Safety and economic benefits in future is the major factor driving the growth of the SAM automatic tolling system market. However, the issue associated with high CapEx & OpEx costs hinders the growth of SAM automatic tolling system market.   

 The SAM automatic tolling system market is segmented into offering and type. Based on offering, the SAM 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 SAM automatic tolling system market is segmented into Brazil, Argentina, and rest of SAM.

SAM countries have been witnessing growth in several industries over the past few years. Industries such as automotive, aerospace, and equipment manufacturing have experienced a fair growth rate. The COVID-19 pandemic has affected several sectors including the toll collections activity. Due to non-availability of raw materials the market has been negatively affected, as the automatic tolling system includes various semiconductor components such as cameras, and most of these components are needed to import from other countries, and due to supply chain disruption, the work is at halt, impacted negatively in 2020. In 2021, with the uplifting of lockdowns and vaccination process, the shipment of raw materials has started again, and the development of older toll collection system has started again. Therefore, this will lead the growth of automatic tolling system market in the region.

Conduent Business Services, LLC; Feig Electronic; Indra Sistemas, S.A.; Raytheon Technologies Corporation; Siemens Mobility; STMicroelectronics N.V.; Tecsidel, S.A.; and Thales Group are among the leading companies in the SAM 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, Indra company has been awarded the contract to supply all the traffic management technology, intelligent transport systems (ITS), communications and toll systems for a major new highway in South America, thus expanding its operations further.

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