Electronic Toll Collection Market Size, Latest Updates And Forecast 2020 To 2027

 

Market Highlights

Market Research Future (MRFR), along with its latest report on the Electronic Toll Collection System Market 2020, releases the impact of COVID 19 pandemic on the market. Other causes that are observed to cast powerful impact on the Electronic Toll Collection System market is expected to promote the expansion of the electronic Toll collection market in the years to come. As per MRFR analysis, the expansion of the electronic toll collection system can be attributed to rise in the need for electronic solutions with increased time efficiency. MRFR analysis reveals that the global electronic toll collection system can rise at 11.2% CAGR across the assessment period. The electronic toll collection global electronic toll collection system can value at USD 13,819 Mn on the conclusion of the study period. The use of automation facilities in identification of vehicles and technological advancements across transportation industry can cause the expansion of the market.

Competitive Analysis

Thales SA, Conduent Inc., Xerox Corporation, Kapsch TrafficCom AG, Q-Free ASA, Cubic Corporation, Siemens AG, The Revenue Markets Inc., Grenobloise dElectronique ET dAutomatismes (GEA) SA, Quarterhill Inc., and Raytheon Co are some noteworthy  contenders in the electronic toll collection system market global market.

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Segmental Analysis

The segment study of the electronic toll collection system is done by type, means of collection, product, technology, and application. 

The type based segments of the electronic toll collection market are all automatic number plate recognition (ANPR), electronic tolling (AET), and electronic toll collection (ETC) among others. The electronic toll collection (ETC) segment can rise at 13.2% CAGR across the review period. From 2017 to 2023, the electronic toll collection market value can rise from USD 2,731.2 million to USD 5,652.8 million.

The product based segments of the electronic toll collection market are automated vehicle classification (AVC) and automatic vehicle identification (AVI). The automatic vehicle identification segment can generate revenue worth USD 8,582.8 million on the conclusion of the study period.

The technology based segments of the electronic toll collection market are radio frequency identification (RFID), dedicated short-range communications (DSRC), and global positioning system (GPS) among others. The dedicated short-range communication segment can bring turnover of about USD 4,390.6 million by 2023. The dedicated short-range communication segment can thrive at 12.3% CAGR in the years to come.

The means of collection based segment of the electronic toll collection market are post-paid and prepaid. The prepaid segment can rise at 12.2% CAGR in the evaluation period.

The application based segments of the electronic toll collection market are urban, and highways among others. The highways segment can thrive at 12% CAGR across the assessment period.

Detailed Regional Analysis

The Middle East, Africa, Asia Pacific, North America, and Europe are major regions where ongoing trends and growth prospects of the electronic toll collection market are studied. The rise in the need for digital payments at toll facilities can underline the expansion of the market in North America across the study period in the years to come. The increase in digital transfer practise can boost the expansion of the electronic toll collection market in Asia Pacific and Europe. Developments in communications standards and increase in the tangibility of mega smart city can bolster the expansion of the electronic toll collection market in India and other regions of APAC across the study period. The rise of the electronic toll collection market in APAC can also be attribute to the increase in the demand of consumers demand for extraordinary improvements in the compactness of computer hardware. The presence of modern technologies, such as high-performance identification tags and wireless networks can boost the expansion of the regional market in the assessment period.

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Report Overview

Market Trends and Competitive Landscapes

Segmentation of Market by Type

Segmentation of Market by End-Users

Electronic Toll Collection Analysis by Major Regions

Product Commodity of Market in Major Countries

North America Electronic Toll Collection Landscapes Analysis

Europe Electronic Toll Collection Landscapes Analysis

Asia Pacific Electronic Toll Collection Landscapes Analysis

Latin America, Middle East & Africa Electronic Toll Collection Landscapes Analysis

Major Players Profile

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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