Electronic Toll Collection Market Development Strategy and Future Prospects 2023

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Market Research Future
Electronic Toll Collection Market Research Report
-Forecast to 2023
Electronic toll collection market size is
expanding rapidly to cater to the growing demand
of safe infrastructure. Technological
advancements in this industry have forced the
governments across the globe to make heavy
investments on toll lanes. Positive government
support in framing new standards and regulations
regarding implementation of these systems and
tolling has catapulted the industry growth. These
systems are beneficial for companies and traffic
agencies as they help to reduce costs by
eliminating the requirement of multiple plazas.
Furthermore, these systems positively impact the
environment by reducing the exhaust emissions
made during stoppages at manual booths. Enhanced
features of these systems such as lesser waiting
time, assuring convenience of drivers and
operators, cashless travelling facility, less
environmental pollution, and reducing traffic
congestion at the collection plazas are the
benefits offered by this technology. Stringent
government regulations and standards regarding
toll collection coupled with increasing adoption
of these systems in urban areas and highways will
result in increasing demand of these
systems. https//www.marketresearchfuture.com/re
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Regional Analysis The regional analysis of the
electronic toll collection market includes
regions such as the Middle East, Africa, North
America, Asia Pacific, and Europe. The
requirement of digital payments at toll
facilities is speedily growing across regions
like the Asia Pacific and Europe. Developments in
communications standards have pushed electronic
toll collection to become the quickest adopted
connected road technology of all times. In the
US, almost USD 13billion capital is invested by
top 35 toll facilities across 9500 tolled roads.
Over the past decade, consumers have seen
extraordinary improvements in the downsizing of
the computer hardware and the onset of new
technologies such as wireless networks, and
high-performance identification tags. These
technologies are expected to encourage ETC system
manufacturers to build systems with advanced
technologies. RFID is the most broadly used
technology for collection of tolls electronically
in the North American region, whereas the
European and Asia Pacific regions rely on DSRC
for electronic toll collection. Access Full
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Market Research Future
Market Segments The electronic toll collection
market is segmented on the basis of type,
product, technology, means of collection,
application and region. On the basis of type, the
market is segmented into electronic toll
collection (ETC), all electronic tolling (AET),
automatic number plate recognition (ANPR) and
others. The electronic toll collection (ETC)
segment is leading the market in this segment and
will increase its value from USD 2,731.2 million
in 2017 to USD 5,652.8 million by the end of 2023
while growing with a CAGR of 13.2. The
product-based segmentation of the market
comprises of automatic vehicle identification
(AVI) and automated vehicle classification (AVC).
The automatic vehicle identification segment is
leading the market and is projected to earn
revenues worth USD 8,582.8 million by the end of
2023. On the basis of technology, the market is
segmented into dedicated short-range
communications (DSRC), radio frequency
identification (RFID), global positioning system
(GPS) and others. The dedicated short-range
communication is expected to lead the segment and
will be valued at USD 4,390.6 million by the end
of 2023 with a CAGR of 12.3. The segmentation on
the basis of means of collection comprises of
postpaid and prepaid. The prepaid segment is
expected to lead with a CAGR of 12.2 in the
forecast period. On the basis of application, the
market is segmented into urban, highways and
others. Request a Sample Report _at_
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Major Players in this Research 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.). Know More about this
Report _at_ https//www.marketresearchfuture.com/pres
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