Middle East and Africa Automatic Tolling System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Offering, and Type

Unmanned Wireless Automated Toll Booth Collection Systems Segment is Expected to be Fastest Growing During the Forecast Period

According to a new market research study on “MEA Automatic Tolling System Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Offering and Type” is expected to reach US$ 1,069.93 million by 2028 from 829.53 US$ million in 2021. The market is estimated to grow at a CAGR of 3.7% from 2021 to 2028. The report provides trends prevailing in the MEA automatic tolling system market along with the drivers and restraints pertaining to the market growth. Development of new technologies to create increasingly efficient tolling systems is the major factor driving the growth of the MEA automatic tolling system market. However, the issue associated with substantial capital expenditures and operating expenses hinders the growth of MEA automatic tolling system market.

The MEA automatic tolling system market is segmented into offering and type. Based on offering, the MEA 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 MEA automatic tolling system market is segmented into Saudi Arabia, South Africa, UAE, and rest of MEA.

MEA comprises of South Africa, the UAE, Saudi Arabia, and other countries. South Africa recorded the highest number of COVID-19 cases in the APAC region and is followed by Saudi Arabia and the UAE. The APAC region has a smaller number of companies operating or offering market-specific solutions. Further, according to the Institute of Chartered Accountants in England and Wales (ICAEW), the Middle East economy has witnessed a sharp slowdown in the year 2020. The COVID-19 outbreak has negatively impacted the construction businesses of roads and highways in the region due to the supply chain disruption and the transportation sector also affected due to the non-movement of vehicles in 2020, thus the revenue collected from toll booths have decreased, results in negatively impacting the automatic tolling system market in the region. However, in 2021, with the uplifting of lockdown restrictions and vaccination processes, the road and highway construction and developments has started again, helps in creating a positive scenario for the automatic tolling system market growth in region.

Conduent Business Services, LLC; EFKON GmbH; Feig Electronic; IBI Group; Indra Sistemas, S.A.; Raytheon Technologies Corporation; Siemens Mobility; STMicroelectronics N.V.; Tecsidel, S.A.; Thales Group; and TransCore, LP are among the leading companies in the MEA 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, global design and technology firm, IBI Group is continuing its relationship with the South African National Roads Agency (SANRAL) via a six-year Freeway Traffic Management Software and Support Services contract

Reasons to buy:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the MEA 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 MEA 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 MEA 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