What is Electronic Toll Collection Market?
According to Verified Market Research, the Global Electronic Toll Collection Market was valued at USD 6.37 billion in 2018 and is expected to reach a value of USD 11.12 billion by 2025 at a CAGR of 8.29% over the forecast period of 2018–2025.
What is Electronic Toll Collection Market?
The Electronic Toll Collection (ETC) System can be defined as a cashless toll system developed to make tax collection convenient for the drivers. This helps in mitigating the congestion at expressway tollgates. In Electronic Toll Collection System, tolls are automatically collected via wireless communication. This wireless communication is between an antenna mounted on the tollgate and onboard equipment. Such connections allow impromptu payment by authorizing drivers to pass through tollgates without stopping to pay.
Global Electronic Toll Collection Market Outlook
In the report, the market outlook section mainly encompasses the fundamental dynamics of the market which include drivers, restraints, opportunities, and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Factors such as reduced environmental pollutions due to Electronic Toll Collection systems and cashless travel facilities resulting in improved convenience has been driving the global Electronic Toll Collection Market. Apart from this, the high operating costs of Electronic Toll Collection could affect the overall market growth rate.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Electronic Toll Collection Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market. This can be of great use in gaining knowledge about the cutting-edge technologies in the market.
Global Electronic Toll Collection Market Competitive Landscape
The “Electronic Toll Collection Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Kapsch Trafficcom AG, Transcore (Roper Technologies), Raytheon Company, Conduent Incorporated (Formerly Xerox Corporation), Thales Group, Cubic Transportation Systems, Inc., Vinci and Siemens AG. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
Global Electronic Toll Collection Market, By Charging Toll Amount
• Distance-Based
• Point-Based
• Time-Based
• Perimeter Based
Global Electronic Toll Collection Market, By Technology
• Radio-Frequency Identification (RFID)
• Dedicated Short-Range Communication (DSRC)
• Others
Global Electronic Toll Collection Market, By Offering
• Hardware
• Back Office and Other Services
Global Electronic Toll Collection Market, By Application
• Highways
• Urban Areas
Global ELECTRONIC TOLL COLLECTION Market Geographic Scope
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of Asia Pacific
• Latin America
o Brazil
• Rest of the World
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