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Vehicle Tolling System Market Share

Report ID: GMI11747
Published Date: Oct 2024
Report Format: PDF

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Vehicle Tolling System Market Share

Vehicle Tolling System Market Company Share, 2023

Siemens AG, AECOM, and Toshiba hold a significant market share of over 15% in vehicle tolling system industry. The major players are focusing on leveraging advanced technologies and strategic partnerships to enhance their service offerings. They are investing heavily in digital solutions to improve system reliability, data analytics, and automation. By integrating these technologies, they aim to provide more efficient and reliable services, ensuring end-to-end tolling management. These companies are also expanding their global reach through acquisitions and partnerships, enabling them to offer comprehensive tolling solutions across multiple regions and countries.

Additionally, these key players such as Siemens and Kapsch are prioritizing sustainability and resilience in their operations. They are adopting green technologies, such as solar-powered tolling equipment and implementing congestion pricing models to reduce emissions. The focus on sustainability helps them meet regulatory requirements and appeals to environmentally conscious governments and users. In terms of resilience, they are developing more agile and flexible tolling strategies to mitigate risks and handle disruptions, ensuring continuity and reliability for their clients. This approach helps them maintain a competitive edge in the evolving transportation landscape.

Vehicle Tolling System Market Companies

AECOM
Conduent
Cubic Corporation
Kapsch TrafficCom
Mitsubishi Heavy Industries
Perceptics
Siemens
Toshiba
TransCore
Verra Mobility

Authors: Preeti Wadhwani, Satyam Jaiswal

Frequently Asked Questions (FAQ) :

The market size of vehicle tolling system reached USD 12.8 billion in 2023 and is estimated to grow at an 11.2% CAGR from 2024 to 2032, driven by the increasing need for efficient traffic management and road infrastructure development.

The RFID segment is anticipated to register a CAGR of over 12% from 2024 to 2032, led by the need for faster and more efficient toll collection methods that reduce traffic congestion.

North America dominated the market with a major share of over 40% in 2023, supported by substantial investments from the U.S. government to enhance road infrastructure and tolling system capabilities.

The industry features key players such as AECOM, Conduent, Cubic Corporation, Kapsch TrafficCom, Mitsubishi Heavy Industries, Perceptics, Siemens, Toshiba, TransCore, and Verra Mobility.