Global Electronic Toll Collection Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
“Global Electronic Toll Collection Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global electronic toll collection market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global electronic toll collection market report has been segmented on the basis of type, technology, offering, application, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Electronic toll collection also known as ETC, is type of toll collecting process that helps to improve traffic flow and saves time of the driver. It can process around 1,200 vehicles per hour, when the lane located in certain plaza. It helps to reduce delay on toll tunnels, toll bridges, high-occupancy vehicle lane, and toll roads in order to improve efficiency of toll collection system. Electronic toll collection can operate for both cash and cashless payments.
Growing requirement of reduction of traffic congestion, owing to increasing number of vehicles on the road and growing traffic jams is a major factor driving growth of the global electronic toll collection market. Government initiatives for cashless transactions is another factor supporting growth of the global market. Increasing government funds for road sat and control is fueling growth of the global electronic toll collection market. Electronic toll collection system helps to reduce carbon emission in the area. Furthermore, increasing number of smart cities in various countries is a factor expected to boost growth of the global electronic toll collection market in the near future.
However, high operational cost of electronic toll collection systems is a factor that may hamper growth of the global electronic toll collection market. In addition, slow adoption rate of ETC in underdeveloped countries is a factor that could affect growth of the global electronic toll collection market. Nevertheless, growing adoption of electronic toll collection system in emerging economies can create high revenue opportunities for players in the global electronic toll collection market.
On the basis of offering, the hardware segment anticipated to witness high growth in terms of revenue in the near future. On the basis of application, highways segment is expected to dominate the target market in terms of revenue over the forecast period. Increasing installation of ETC on highways is a factor driving growth of the global market.
Market in North America accounts for major share in terms of revenue and is expected to maintain its position over the forecast period. High adoption of new technology for agriculture and presence of key players are factors driving growth of the target market in this region. Asia Pacific market in anticipated to witness fastest growth in terms of revenue in the near future, owing to increasing construction of roads and rapid urbanization. In addition, growing industrial sector is another factor anticipated to support growth of the target market in Asia Pacific region over the forecast period.
Global Electronic Toll Collection Market Segmentation:
Segmentation by type:
- Transponder- or Tag-Based Toll Collection Systems
- Other Toll Collection Systems
Segmentation by technology:
- Dedicated Short-Range Communications (DSRC)
- Radio-Frequency Identification (RFID)
- Others (include Weigh-in-Motion (WIM), Satellite-Based GNSS/GPS, Video Analytics)
Segmentation by offering:
- Back Office and Other Services
Segmentation by application:
- Urban Areas
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Kapsch AG
- Raytheon Company
- TransCore, LP
- Conduent Incorporated
- Thales S.A.
- Cubic Transportation Systems, Inc.
- Siemens AG
- EFKON AG
- VINCI SA
- Neology, Inc.
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