South America Automatic Tolling System Market Trends and Analysis by 2028
South America Automatic Tolling System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Offering (Hardware and Services), and Type (Unmanned Self-Service Automated Tollbooth Collection Systems, Unmanned Automated Toll Booth Collection Systems, and Unmanned Wireless Automated Toll Booth Collection Systems)
- Status : Published
- Report Code : TIPRE00024068
- Category : Electronics and Semiconductor
- No. of Pages : 99
- Available Report Formats :
- Last update date : August 04, 2021
2021 Market Size
US$ 277.32 Mn
Base year value
2028 Forecast
US$ 344.34 Mn
Projected by 2028
CAGR 2022-2028
3.1 %
Growth rate
Addressable Market
US$ 2,197.47 Mn
(2022-2028)
The automatic tolling system market in SAM is expected to grow from US$ 277.32 million in 2021 to US$ 344.34 million by 2028; it is estimated to grow at a CAGR of 3.1% from 2021 to 2028.
Brazil and Argentina are major economies in SAM. Safety and economic benefits in future is the major factor driving the growth of the SAM automatic tolling system market. The toll collection centers are strategically placed toll plazas or collection units that are levied for tax collection, congestion management or 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 attributing to more fuel consumption for cars and high vehicular pollution due to congestion. As a result, an electronic toll collection offers a competent alternative solution to the current manual toll for minimizing the congestion at toll gateways and providing seamless transit transaction without the need of supervision. The electronic toll collection systems operate an account-based systems 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 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 is driving the market penetration of these systems across various emerging economies and is likely to provide profitable business opportunities for the market players during the forecast period.
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.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the SAM automatic tolling system market. The SAM automatic tolling system market is expected to grow at a good CAGR during the forecast period.
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
SAM Automatic Tolling System Market Segmentation
SAM Automatic Tolling System Market – By Offering
- Hardware
- Services
SAM Automatic Tolling System Market – By Type
- Unmanned Self-Service Automated Tollbooth Collection System
- Unmanned Automated Toll Booth Collection System
- Unmanned Wireless Automated Toll Booth Collection System
SAM Automatic Tolling System Market, by Country
- Brazil
- Argentina
- Rest of SAM
SAM Automatic Tolling System Market - Companies Mentioned
- Conduent Business Services, LLC
- Feig Electronic
- Indra Sistemas, S.A.
- Raytheon Technologies Corporation
- Siemens Mobility
- STMicroelectronics N.V.
- Tecsidel, S.A.
- Thales Group
South America Automatic Tolling System Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 277.32 Million |
| Market Size by 2028 | US$ 344.34 Million |
| CAGR (2021 - 2028) | 3.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Offering
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
- Comprehensive Market Sizing and Forecast Analysis
- Detailed Segmentation Analysis
- In-Depth Market Dynamics Assessment
- Regional and Country-Level Insights
- Competitive Landscape and Company Benchmarking
- Strategic Business Intelligence
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