Middle East & Africa Automatic Tolling System Market
The MEA region includes countries such as South Africa, Saudi Arabia, and the UAE. The road systems in most of the cities in MEA are heavily overloaded, which is impacting the economic growth. The governments in these regions recognize this and are developing plans to tackle the challenge. Thus, the region needs continuous financing for the construction of new roads and the maintenance and operation of existing roads. Moreover, intelligent transportation system (ITS) technology can help MEA region to tackle these issues. The tolling system in the MEA region is growing significantly due to the increasing awareness about toll collection as a sustainable fund-raising source for development of infrastructure and shift from manual toll collection system to electronic toll collection (ETC) systems. Further, in Dubai, the ETC systems are already being used in traffic management centers for real-time traffic and travel information. Several other projects of implementing automatic toll collection in the region have fueled the demand for automatic tolling systems. For instance, King Fahd Causeway connecting Saudi Arabia and Bahrain and Cairo-Alexandria Toll Road and other roads in Morocco and Tunisia, will be seen implementing advanced tolling systems. Similarly, Dubai's Roads and Transport Authority (RTA) had introduced its Salik ETC scheme. With the implementation of electronic tolling collection systems in various countries, the demand for automatic tolling system will also increase.
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.
Strategic insights for the Middle East & Africa Automatic Tolling System provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 829.53 Million |
| Market Size by 2028 | US$ 1,069.93 Million |
| Global CAGR (2021 - 2028) | 3.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Offering
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
The geographic scope of the Middle East & Africa Automatic Tolling System refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The automatic tolling system market in MEA is expected to grow from US$ 829.53 million in 2021 to US$ 1,069.93 million by 2028; it is estimated to grow at a CAGR of 3.7% from 2021 to 2028. In terms of value, the automatic tolling system market in the Rest of MEA was valued at US$ 72.2 million in 2020 and is projected to reach US$ 86.7 million by 2028; it is expected to grow at a CAGR of 2.6% during the forecast period. The Rest of MEA comprises countries such as Qatar, Iran, Oman, and Egypt, among others. The road and highway constructions across several countries are one factor for the growth of the automatic tolling system in the region. For instance, Oman's Ministry of Transport and Communications is looking to introduce toll collection systems on certain carriageways to attract private investment in the development of an intelligent road system in the Sultanate. The move is broadly in line with the Omani government's strategic goal to strengthen road communications, thereby enhancing the Sultanate's global rankings as a logistics-friendly destination. In addition, enabling toll collection is key to attracting private investment in the road construction sector under the Public-Private-Partnership (PPP) model. Additionally, in February 2019, human-staffed toll booths were replaced with cashless electronic toll system at four major freeways in Iran. The government of the country has taken this step to install automatic tolling system at Tehran-Qom, Tehran-Saveh, Qazvin-Rasht, and Qazvin-Zanjan highways. Therefore, the introduction of toll collection system will lead to the growth of the 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.
A few major primary and secondary sources referred to for preparing this report on the automatic tolling system market in MEA are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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.
The Middle East & Africa Automatic Tolling System Market is valued at US$ 829.53 Million in 2021, it is projected to reach US$ 1,069.93 Million by 2028.
As per our report Middle East & Africa Automatic Tolling System Market, the market size is valued at US$ 829.53 Million in 2021, projecting it to reach US$ 1,069.93 Million by 2028. This translates to a CAGR of approximately 3.7% during the forecast period.
The Middle East & Africa Automatic Tolling System Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East & Africa Automatic Tolling System Market report:
The Middle East & Africa Automatic Tolling System Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa Automatic Tolling System Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Automatic Tolling System Market value chain can benefit from the information contained in a comprehensive market report.
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