Automatic Barriers Sales to Grow At 5.4% CAGR as Innovations in Transport Infrastructure Gain Momentum

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Key Takeaways

• The global automatic barriers market will post steady growth due to rising concerns regarding security and safety. The market is forecast to reach the market valuation of US$ 4.8 billion by the end of 2031.
• Automatic Boom barriers are the most popular and recognized type of automatic barriers and are accounted for 67% of global market share. Boom barriers market is forecast to grow at 5.6% CAGR over the forecast period.
• Bollard type automatic barriers are second only to boom barriers in terms of demand and are anticipated to grow at 4.6% with sales reaching 142,000 units by 2031.
• Rise in number of warehouses and commercial buildings of top automotive and information technology based companies in Europe will drive the market growth at 5.8% CAGR over the forecast period.
• North American automatic barriers market is forecast to grow at 5.2% CAGR throughout the forecast period. The growth can be attributed to rapid technological advancement in parking system and adoption of internet of things (IOT) in automatic barrier system in the country.

Prominent Drivers

• High convenience offered by automatic barriers especially to drivers as it save the time is driving the sales of automatic barriers.
• The capability of automatic barriers to keep employees safe and avoid trespassing along with preventing vehicle crashes and collisions is boosting the market demand of automatic barriers across the globe.
• Wide range of customization available in automatic barriers along with optimized traffic flow offered by automatic barriers especially in corporate zones will create opportunities for market growth.

Key Restraints

• Automatic barriers are completely dependent on electricity as they require continuous electric supply for monitoring and protection thus making them redundant in regions with lack of proper electricity. This will negatively influence the market growth.
• Automatic barriers are not useful for temporary use like at temporary road closures and in an event where a traffic controller is required, thus hampering the market growth.
• High administrative and purchasing cost of automatic barriers will restrict the sales of automatic barrier in upcoming years.

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