Electronic Toll Collection Market Size, Comprehensive Research Study, Global Trends, Opportunities, Gross Margin Analysis, Sales Revenue and Trends by Forecast 2023

Market Research Future published a research report on “Electronic Toll Collection Market Research Report - Global Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Pune, India - July 9, 2018 /MarketersMedia/ —

Market Scenario:

A toll road, is a private or public roadway for which a fee is charged to pass. Frequently, these toll booths cause traffic delays during rush hours due to toll collection process. This factor has given birth to electronic toll collection system, which swiftly eliminates manual operations by toll payers and receivers. Electronic toll collection uses sophisticated cameras and sensors to capture an image of vehicle’s registration plate and assigns the correct toll. The global Electronic Toll Collection Market is expected to steer towards a strong double-digit growth rate in the coming years.

The primary drivers of the upcoming growth include the need to save travel time, cashless travel facility, the need to stop/minimize the traffic congestion and fast toll transaction. The ETC market is expected to continue its quick expansion to meet the surging demand for an improved, safe and secure infrastructure providing a fast, efficient and cost-effective services.

High installation cost, tag maintenance and high dependence on policies are some of the factors limiting the market growth.

GENVICT is a leader among equipment suppliers in ETC industry in China. They had sold more than 5.5 million sets of offshore banking unit (by the end of 2014, around 40% of OBU stock market. The company has introduced multiple intelligent front-mounted ETC electronic tags, of which ETC rearview mirror integrated electronic tag is being jointly tested by many companies.

Global electronic toll collection market is expected to grow at CAGR 9% through the forecast period.

Get Sample of Report @ https://www.marketresearchfuture.com/sample_request/4971

Industry/Innovation/Related News:

March 14, 2018 – National Highways Authority of India (NHAI) declared mandatory implementation of the NETC (National Electronic Toll Collection) program for all national highways. This drive is expected to minimize required time span for the toll collection process at highways while reducing revenue leakages. The program utilises a passive RFID tag - called FASTag attached to the vehicle. Simultaneously, NHAI has also launched two mobile Apps –FASTag Partner and MyFASTag, which will be easing the process and work alongside the toll booths. Using the apps, vehicle owners can buy or recharge FASTags.

March 01, 2018 – Platinum Equity (US), a leading global investment firm announced that it has acquired HTA (Highway Toll Administration, LLC. - US), a leading provider for the ETC technology and services.

Key Players

Some of the key players in the market are 3M (U.S.), Xerox Corporation(U.S.), Q-Free (Norway), Cubic Transportation Systems, Inc. (U.S.), Siemens AG (Germany), Thales Group (France), Transurban Limited (Australia), International Road Dynamics, Inc. (Canada), Raytheon Company (U.S.), The Revenue Markets Inc. (U.S.), Schneider Electric SE (France), Toll Collect GmbH (Germany), Perceptics, LLC (U.S.), TransCore (U.S.), Far Eastern Electronic Toll Collection Co., Ltd. (Taiwan), and Xiamen Innov Information Technology Co., Ltd. (China); and software providers such as, VaaaN (India), TransCore, LP (U.S.), and GeoToll, Inc. (U.S.).

Worldwide Electronic Toll Collection Market – Segmentations

For the convenience of the report and enhanced understanding; the market is segmented in to 6 key dynamics

• By Products: Comprises Automated Vehicle Identification (AVI) and Automated Vehicle Classification (AVC).
• By Types: All Electronic Tolling (AET), Electronic toll collection (ETC), Automatic number plate recognition (ANPR) & Transponders.
• By Technologies: Dedicated Short Range Communications (DSRC), Radio Frequency Identification (RFID), and Global Positioning System (GPS) among others.
• By Application: Highways & Urban
• By Modes of Toll Collection: Prepaid & Postpaid.
• By Regions: North America, Europe, APAC and Rest of the World.

Worldwide Electronic Toll Collection Market – Geographical Analysis

North America market for Electronic Toll Collection, holding the largest share is poised to dominate the global market during the forecast period. This growth is predominantly driven by the wide uptake & implementations of meticulous transportation systems in the region.

While Europe market is mainly driven by the awareness towards the advantages of these systems, especially among the countries such as Germany, France & Belgium which are rapidly changing & moving toward setting standards.

Asia-Pacific region, witnessing rapid expansion stage is emerging as the fastest growing market. Countries such as India, China, Japan, & Singapore will be at the front leading the regional market throughout the forecast period.

Worldwide Electronic Toll Collection Market – Competitive Landscape

The market characterized with the presence of numerous small & large players, appears to be fiercely competitive & fragmented. Incorporating acquisition, partnership, collaboration, technology launch and expansion, the well-established market players gain competitive advantage in the market maintaining their market position. These Players also invest substantially in the R&D to develop a technology with unrivalled design and features that is on a completely different level compared to their competition.

Get complete Report @ https://www.marketresearchfuture.com/reports/electronic-toll-collection-market-4971

Intended Audience

• Technology Providers
• Research organizations
• Technology investors
• Venture capitalists
• Government organizations

About Us:

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.

Contact Info:
Name: Abhishek Sawant
Organization: Market Research Future
Address: Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune -
Phone: 6468459312

Source URL: https://marketersmedia.com/electronic-toll-collection-market-size-comprehensive-research-study-global-trends-opportunities-gross-margin-analysis-sales-revenue-and-trends-by-forecast-2023/374349

For more information, please visit https://www.marketresearchfuture.com

Source: MarketersMedia

Release ID: 374349