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(Transportation-News.com, February 13, 2018 ) Automated Barriers and Bollards market is expected to grow US$ 1.80 billion by 2025 from US$ 1.26 billion in 2015. Municipalities in many cities are also in the process of adopting smart parking systems for better parking and traffic management and sustainable growth. Hence, it is clear that there is much scope for municipalities to adopt and implement boom barriers and bollards in smart parking in the near future, as approximately 60% of the world's population will be living in urban areas by then. Thus, this factor is expected to boost the boom barriers and bollards market globally.
The global market for automated barriers and bollards market exhibit mediocre growth in near future. Some of the major driving factors contributing to the market growth are rising roadways construction and the number of toll booth in developed as well as developing countries, as well as growth in the implementation of smart city programs and ANPR penetration. However, high cost and low consumer awareness, and interoperability and system integration issues are some of restraining factors behind slow growth of boom barriers and bollards market during the forecast period.
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Automated barriers and bollards market by end-user vertical is segmented into residential, commercial and industrial. The increasing investments into new infrastructure development in the developing countries across the globe, as well as the restructuring of ageing infrastructure of developed countries has resulted in increased demand for automated barriers and bollards by the commercial end-use vertical.
The overall market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the automated barriers and bollards industry.
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