The market for automated barriers and bollards is projected to reach a value of US$ 1.80 billion by 2025, increasing from US$ 1.26 billion in 2015. Many municipalities are currently implementing smart parking solutions to enhance traffic management and promote sustainable urban development. This trend indicates a significant opportunity for local governments to integrate boom barriers and bollards into their smart parking initiatives, especially considering that around 60% of the global population is expected to reside in urban areas by that time. Consequently, this demographic shift is anticipated to drive the demand for boom barriers and bollards on a worldwide scale.
In the near term, the global automated barriers and bollards market is expected to experience moderate growth. Key factors propelling this market include the increasing construction of roadways and the proliferation of toll booths in both developed and emerging economies, alongside the expansion of smart city initiatives and the adoption of Automatic Number Plate Recognition (ANPR) technology. Nevertheless, challenges such as high costs, limited consumer awareness, and issues related to system integration and interoperability are likely to hinder the growth of the boom barriers and bollards market during the forecast period.
The automated barriers and bollards market can be categorized by end-user segments, which include residential, commercial, and industrial applications. The surge in investments aimed at developing new infrastructure in developing nations, coupled with the modernization of aging infrastructure in developed regions, has led to a heightened demand for automated barriers and bollards, particularly within the commercial sector.
The overall market size has been calculated using a combination of primary and secondary research methods. The research process commences with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data pertinent to the market. Additionally, primary interviews are conducted with industry stakeholders and experts to validate the findings and analyses. Participants in this research typically include industry professionals such as Vice Presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders who specialize in the automated barriers and bollards sector.