Vehicle Toll Collection and Access System Market is expected to grow at a CAGR of around 14% by the end of 2023| Major Players - M, SCHNEIDER ELECTRIC, TRMI, FEIG ELECTRONICS, MAGNETIC AUTO CONTROL, amongst others

Market Analysis:

Developed Nations to Dominate
North America and Europe have the largest market for toll collection and vehicle access systems. Several developed and developing countries across the world adopt new technology, driving the market. An increase in automotive sales in the Indian and Chinese markets, along with the development of roadways and highway paves the way for increased growth of the vehicle toll collection and access system market in the forecasted period.

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Every construction and road needs maintenance and recovery. The cost of maintenance and recovery of highways, roads, bridges, and tunnels is collected directly or indirectly from public. This is known as toll collection. The evolution of technology has made it possible to implement tolling policies based on a multitude of usage concepts. The charging concepts are currently based on suiting different requirements regarding the purpose of the charge, charging policy, the infrastructural network, etc. The electronic toll collection system significantly helps to reduce delays caused on toll roads by providing easy and quick access to drivers. Advancements in the toll collection systems are based on latest technology and help eliminate congestion on highways and in urban areas. The video analytics technology helps to identify and record violations. Also, it uses special cameras to take photographs of the violating vehicle’s license plate. The magnetic highway barriers are expected to see the highest growth rate among all the tollgates due to their greater functional scope, additional extensibility, and increasing application.

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Market Segments:
Vehicle Toll Collection and Access System Market is segmented by:
1. Tollgate Types: Magnetic Access Barriers, Magnetic Highway Barriers, Magnetic High-Speed Barriers, Others
2. Toll Collection Type: Mainline Barrier Tolls, Entry/Exit Tolls (Semi-Automatic Toll Collection), Electric Toll Collection, Others
3. Infrastructure Source Type: Bridges, Road, Tunnel, Others
4. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments:
• April, 2018: Maryland explores changing tolls to electronic

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