Global Electronic Toll Collection Market
Global Electronic Toll Collection Market is valued approximately USD 7.62 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 10.12% over the forecast period 2019-2026. An electronic toll collection system is an electronic charging toll machine which charges a toll to an existing customer account as it can determine whether the passing vehicle is registered or not registered within the system. It further generates an alert to the local highway patrol if the vehicle is not registered.
This system allows the owner to pass through the toll booths without stopping the vehicle in between the road thereby reducing traffic congestions due to manual operations. Thus, the electronic toll collection system is a feasible solution to reduce pollution and an alternative to maintain the highway lanes during the rush hours, or during any ongoing maintenance activities. Growing demand for safety and efficiency in transportation infrastructure is one of the major factors responsible for the high CAGR of the market.
Increasing investment opportunities in economically and technologically developing countries and rising number of public & private partnership agreements in transportation sectors are the factors that offer opportunities in the market. Additionally, government support towards the employment of these systems and tolling and technological enhancements are contributing to the growth of the global Electronic Toll Collection market. However, high initial investment and maintenance expenses and slow growth in the infrastructure sector in underdeveloped countries are the factors that limit the market growth during the forecast period.
The regional analysis of the global Electronic Toll Collection market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to increasing traffic and developed road infrastructures in the region. Europe is anticipated to grow at a satisfactory rate in the global Electronic Toll Collection market during the forecast period. Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2019-2026 due to increasing traffic problems in the region. In the other regions such as the Middle East and Africa, the growth of the Electronic Toll Collection market is moderate due to lack of proper infrastructure facilities in these regions.
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Major market player included in this report are:
Kapsch Group
Thales Group
Toshiba Corporation
Raytheon
Conduent LLC
Siemens AG
TransCore LP
Cubic Transportation
Perceptics LLC
EFKON GmbH
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Subsystem:
Automated Vehicle Identification
Automated Vehicle Classification
Violation Enforcement System
Transaction Processing
By Technology:
Radio Frequency Identification RFID
Dedicated Short Range Communication DSRC
Infrared
GNSS & GPS
Video Analytics
By Application:
Urban
Highways
By Regions:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Electronic Toll Collection Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers VARs
Third-party knowledge providers
Investment bankers
Investors
Customizations available
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