To identify growth opportunities, the market has been segmented into regions that are growing faster than the overall market. These regions have been pitted against regions that have a slower growth rate than the global market in 2018-2023. MEA and North America will grow faster than the overall market. The growth of APAC, Europe and South America will be slower than the global market.
Below are some of the key findings from the global vehicle scanner market analysis report
See the complete table of contents and list of exhibits, as well as selected illustrations and example pages from the report.
Global vehicle scanner industry overview
The expansion of toll roads globally is one of the key factors that will drive the growth of the global vehicle scanner system market. The recent years witnessed a significant rise in the number of toll roads across the globe. For instance, in 2018, Saudi Arabia’s Minister of Transport announced the implementation tolling system across six roads from 2020. Similarly, the National Highway Authority of India (NHAI) also granted toll managing rights to the Macquarie group to operate nearly 400 miles of national highway for 30 years. Such initiatives will increase the need for these scanners at toll booths, driving vehicle scanner market growth.
End users such as the toll booths are integrating IoT with vehicle scanning to capture and store accurate, precise information with minimal human errors. IoT reduces scanning time and operational costs because of the elimination of labor. The rising demand for electronic toll collection systems is expected to increase the need for IoT enabled vehicle scanners. Many South East Asian countries have already started adopting electronic toll collection systems. For instance, the Government of Jakarta recently announced its plans to introduce electronic road pricing. Such initiatives are expected to increase the integration of these scanners and IoT. This coupled with the expansion of toll roads will drive global vehicle scanner market growth at a CAGR of almost 6% during 2019-2023.
Top companies covered in the vehicle scanner market research report
The global vehicle scanner market is fairly fragmented. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by companies, the industry analysis report will allow the clients to identify new growth opportunities and design innovative strategies to improve their market share.
The report offers a complete analysis of various companies including:
- Gatekeeper Security, Inc.
- International Road Dynamics Inc.
- Leidos
- secureOne International BV
- SecuScan
Vehicle scanner market segmentation based on geographic regions
- APAC
- Europe
- MEA
- North America
- South America
North America will hold the largest vehicle scanner market share market throughout the forecast period. The growing highway expansion activities in the region has increased the demand for these scanners at toll booths. The expected increase in the number of supermarkets in the region will also drive market growth in the region because of the demand for portable vehicle scanners in parking checkpoints.
Vehicle scanner market segmentation based on product
- Portable scanner
- Fixed scanner
The portable vehicle scanner market segment will account for the highest vehicle scanner market share. The rising investment in the defense infrastructure across the world is one of the major factors for the growth of the vehicle scanner market in the segment. The growth in defense spending is expected to increase the need for portable vehicle scanners at defense camps as they have no definite locations.
Key highlights of the global vehicle scanner market report for the forecast period 2019-2023:
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the vehicle scanner market during the next five years
- Precise estimation of the global vehicle scanner market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the industry across various geographies such as APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details on factors that will challenge the growth of the companies
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