Global Electronic Toll Collection Market is expected to rise from its initial estimated value of USD 7.14 billion in 2018 to an estimated value of USD 13.69 billion by 2026, registering a CAGR of 8.48% in the forecast period of 2019-2026. This rise in market value can be attributed to the increased adoption of cashless systems across the world, and reduced congestion of traffic because of it.
The Global Electronic Toll Collection Market research report is a well-designed research report which incorporates the points of interest about the valuation of macro and micro scale components huge for the development of effectively settled contenders and emerging new organizations. It likewise gives the alluring index of sections so players can be educated about rewarding income pockets of the worldwide Global Electronic Toll Collection Market. The broad assessment of segments given in the report will assist the clients with directing their investments, methodologies, and groups to concentrate on the correct territories of the worldwide Global Electronic Toll Collection Market. It features the political situation in the market and envisions its effect on the Global Electronic Toll Collection Market.
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Electronic toll collection can be defined as the cashless toll collection technology which aims to solve the problem of traffic congestion on various toll collecting sites due to the time-consuming process of cash or plastic money collection. These tolls do not require the vehicles to stop at the toll booths, as they scan the transponders available in the vehicles for the collection of tolls. They operate alongside the cash tolls so that the vehicles without any transponders can cross the booth as well.
- Reduction of traffic congestion and environmental pollution due to availing electronic toll collection is expected to drive the market growth
- Adoption of cashless facilities due to the development and government initiatives to build smart cities is also expected to drive the market growth
- High operation costs of these tolls is expected to act as a restraint to the market growth
- Lack of growth of the infrastructure required in the developing economies and regions is expected to restrain the market growth
Competitive Analysis: Global Electronic Toll Collection Market
Global electronic toll collection market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of electronic toll collection market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors/Players: Global Electronic Toll Collection Market
Few of the major market competitors currently working in the electronic toll collection market 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, and American Traffic Solutions.
Table of Content:
01: Executive Summary
02: Scope of The Report
03: Market Landscape
04: Market Sizing
05: Market Segmentation by Product
06: Five Forces Analysis
07: Customer Landscape
08: Geographic Landscape
09: Decision Framework
10: Drivers and Challenges
11: Market Trends
12: Vendor Landscape
13: Vendor Analysis
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Segmentation: Global Electronic Toll Collection Market
- By Type
- By Technology
- Radio-Frequency Identification (RFID)
- Dedicated Short-Range Communication (DSRC)
- Video Analytics/Automatic Number Plate Recognition (ANPR)/Automatic License Plate Recognition (ALPR)
- Satellite-Based GNSS/GPS (Global Navigation Satellite System/Global Positioning System)
- By Offering
- Back Office & Other Services
- By Application
- Urban Areas
- By Parameters of Toll Amount
- Distance Based
- Point Based
- Time Based
- Perimeter Based
- By Geography
- North America
- South America
- Middle East and Africa
Key Developments in the Market:
- In April 2018, TransCore announced the introduction regarding the publication of specific protocols and standards known as “Super eGo (SeGo)” for the simplification and increased ease in adoption of transponders and multi-protocol readers.
- In April 2016, Kapsch TrafficCom AG announced that they had completed the acquisition of Schneider Electric’s Transportation Business. This acquisition is expected to expand Kapsch’s smart transportation system and service portfolios for the various regions.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved
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