Electronic Toll Collection Market Industry Analysis and Forecast 2028
The Electronic Toll Collection Market is expected to witness market growth
at a rate of 8.58% in the forecast period of 2021 to 2028.
Industry Analysis
Data Bridge
Market Research report on electronic toll collection market provides analysis
and insights regarding the various factors expected to be prevalent throughout
the forecast period while providing their impacts on the market’s growth. The
initiatives taken by government to support the electronic toll are escalating
the growth of electronic toll collection market.
Electronic
toll collection refers to the cashless toll collection technology which assists
in solving the problem of traffic congestion on various toll collecting sites
because of the time-consuming process of cash or plastic money collection.
These tolls do not require the vehicles to stop at the toll booths for
collection. These systems collect by scanning the vehicles to stop at the toll
booths. They operate by the cash tolls so that vehicles can cross the booth
without any transponders. A toll road is private or public roadway which
charges fee for passage. Electronic toll collection prevents traffic rush as it
eliminates manual operation.
The high
adoption of these systems owning to the use of the latest technological
solutions including GPS & GNSS toll collection, tracking solutions and DSRC
and the utilization of video analytics to efficiently manage traffic in highly
congested areas act as the major factors drives the electronic toll collection
market. The rise in demand for safety and efficiency of transportation
infrastructure, technological advancements in this industry including GNSS and
GPS technology and the initiatives by government to encourage the collection
accelerate the electronic toll collection market growth. The increasing
investment on toll lanes, the implementation of government new standards and
regulations regarding the implementation of these systems and tolling and the
convenience and flexibility of cashless payments influence the electronic toll
collection market. Additionally, the high rate of acceptance due to effective
solution for reducing traffic congestion, accidents and environmental
pollution, rapid urbanization, improvement in transportation infrastructure and
growing use of advanced digital technologies among consumers positively affect
the electronic toll collection market. Furthermore, rise in utilization of
blockchain technology in toll collection systems, surge in utilization of
blockchain technology in toll collection systems from coin-based or manual
tolling systems and increase in collaborations among public and private sector
for transportation extend profitable opportunities to the electronic toll collection
market players in the forecast period of 2021 to 2028.
On the other
hand, implementation of stringent regulatory norms across some regions is
expected to obstruct the electronic toll collection market growth. The rise in
issues associated with the common standards, interoperability and selection of
toll technology is projected to challenge the electronic toll collection
market.
This
electronic toll collection market report provides details of new recent
developments, trade regulations, import export analysis, production analysis,
value chain optimization, market share, impact of domestic and localized market
players, analyses opportunities in terms of emerging revenue pockets, changes
in market regulations, strategic market growth analysis, market size, category
market growths, application niches and dominance, product approvals, product
launches, geographic expansions, technological innovations in the market. To
gain more info on electronic toll collection market contact Data Bridge Market
Research for an Analyst Brief, our team will help you take an
informed market decision to achieve market growth.
Electronic
Toll Collection Market Scope and Market Size
The
electronic toll collection market is segmented on the basis of type,
technology, offering, application and parameters of toll amount. The growth
among segments helps you analyze niche pockets of growth and strategies to
approach the market and determine your core application areas and the
difference in your target markets.
- On the basis of type, the
electronic toll collection market is segmented into transponder/tag-based
and others.
- On the basis of technology, the
electronic toll collection market is segmented into RFID, DSRC and others.
- On the basis of offering, the
electronic toll collection market is segmented into hardware and back
office and other services.
- On the basis of application, the
electronic toll collection market is segmented into highways and urban
areas.
- On the basis of parameters of
toll amount, the electronic toll collection market is segmented into
distance based, point based, time based and perimeter based.
Get TOC Details: https://www.databridgemarketresearch.com/toc/?dbmr=global-electronic-toll-collection-market
Global
Electronic Toll Collection Market Country Level Analysis
The
electronic toll collection market is analyzed and market size, volume
information is provided by country, type, technology, offering, application and
parameters of toll amount as referenced above.
The
countries covered in the global electronic toll collection market report are
the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of
South America as part of South America, Germany, Italy, U.K., France, Spain,
Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe,
Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand,
Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific
(APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East
and Africa (MEA) as a part of Middle East and Africa (MEA).
North
America dominates the electronic toll collection market because of the high
number of vehicles, the largest networks of interstate and state highways,
installation advanced toll collection systems and several toll installation
projects that are in progress. Asia-Pacific is expected to witness significant
growth during the forecast period of 2021 to 2028 because of the increase in
demand for these systems in the developing economies, growth in urbanization,
technological advancements including real-time tracking & monitoring of
vehicles through GPS/GNSS and growth in population adoption of RFID sensors in
the region.
The country
section of the report also provides individual market impacting factors and
changes in regulation in the market domestically that impacts the current and
future trends of the market. Data points like down-stream and upstream value
chain analysis, technical trends and porter's five forces analysis, case
studies are some of the pointers used to forecast the market scenario for
individual countries. Also, the presence and availability of global brands and
their challenges faced due to large or scarce competition from local and
domestic brands, impact of domestic tariffs and trade routes are considered
while providing forecast analysis of the country data.
Competitive
Landscape and Electronic Toll Collection Market Share Analysis
The
electronic toll collection market competitive landscape provides details by
competitor. Details included are company overview, company financials, revenue
generated, market potential, investment in research and development, new market
initiatives, global presence, company strengths and weaknesses, product launch,
product width and breadth, application dominance. The above data points
provided are only related to the companies’ focus related to electronic toll
collection market.
The major
players covered in the electronic toll collection market report are Kapsch
TrafficCom AG, TransCore, Raytheon Company, Conduent Inc., Thales Group, Cubic
Corporation, Vinci SA, Siemens AG, EFKON, Neology Inc., TOSHIBA CORPORATION,
MITSUBISHI HEAVY INDUSTRIES LTD, Abertis, Quarterhill Inc., Perceptics LLC,
Star Systems International, Electronic Transaction Consultants Corporation, ARH
Inc., SICE, Autostrade per l'Italia, JENOPTIK AG, Far Eastern Electronic Toll
Collection Co Ltd., Toll Collect GmbH, GeoToll, Indra Sistemas, Kistler Group,
American Traffic Solutions among other domestic and global players. Market
share data is available for global, North America, Europe, Asia-Pacific (APAC),
Middle East and Africa (MEA) and South America separately. DBMR analysts
understand competitive strengths and provide competitive analysis for each
competitor separately.
Get Full Access of reports @ https://www.databridgemarketresearch.com/reports/global-electronic-toll-collection-market
MAJOR TOC OF THE
REPORT
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Chapter One: Introduction
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Chapter Two: Market Segmentation
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Chapter Three: Market Overview
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Chapter Four: Executive Summary
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Chapter Five: Premium Insights
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Chapter Six: Global Electronic Toll Collection Market
by Product & Procedure type
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