LONDON–(BUSINESS WIRE)–The global vehicle scanner market is expected to post a CAGR of nearly 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Vehicle scanners are increasingly being used to scan toll passes and the number plates of vehicles and charge drivers accordingly. The use of vehicle scanners also improves the security of vehicles as well as toll booths. Governments of various countries such as the US, India, Indonesia, and Saudi Arabia have recently announced their toll road expansion plans. With the expansion of toll roads across the world, the demand for vehicle scanners will increase significantly during the forecast period.
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As per Technavio, the increasing adoption of IoT by end-users will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Vehicle Scanner Market: Increasing Adoption of IoT by End-Users
End-users such as tollbooths are adopting IoT to automate the process of vehicle scanning. Tollbooth operators leverage the data generated by IoT devices and forecast the number of passing vehicles during peak and off-time. The integration of IoT eliminates human labor and reduces the time required for scanning vehicles. This helps operators optimize their overall operating costs. Many developing counties in South East Asia are increasingly adopting electronic toll collection systems to reduce labor costs and traffic congestion. This trend is positively influencing the growth of the global vehicle scanner market.
“Increasing sales of EVs and the rising demand for rugged devices will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Vehicle Scanner Market: Segmentation Analysis
This market report segments the global vehicle scanner market by product (portable scanner and fixed scanner) and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the market in 2018, followed by Europe, APAC, MEA, and South America respectively. During the forecast period, the North American region is expected to maintain its dominance over the global market. This is due to the growth of supermarket industry in the US and the consequent demand for portable vehicle scanners in parking checkpoints.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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