Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by Infinium Global Research on electronic toll collection market provides in-depth analysis of segments and sub-segments in global as well as regional electronic toll collection market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional electronic toll collection market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global electronic toll collection market. According to the report, the global electronic toll collection market is projected to grow at a CAGR of 9.3% over the forecast period of 2018-2024.
Market Insight
Electronic toll collection is the system used for automated collection of toll by using wireless technologies such as optical scanning or radio frequency communication. The electronic toll collection is applicable to both moving and stopped vehicles. The manual toll collection system causes traffic delays and has the major possibility of errors as well as this is a very time-consuming method. On the other hand, the electric toll collection improves the transparency of toll transaction and helps to Savings on fuel and reduction of emissions from idling and repeated stops at toll plazas.
The electronic toll collection offered the best solution for Traffic Congestion and reduced commute times that are driving the growth of the electronic toll collection market. The electronic toll collection system does not require to build a specific infrastructure. The various governments are taking initiative to introduce the electronic toll collection across the toll plazas as this system reduces the fuel consumption and the emission caused by the low motion through toll plazas. In addition, increasing installations of electronic toll collections across various toll plazas are likely to boost the demand of electronic toll collection system. The electronic toll collection is more continuous due to the cashless payment and near non-stop motion through toll plazas are contributes in the growth of electronic toll collection market. However, the slow adoption of electronic toll collection system among the underdeveloped region is hampering the growth of the electronic toll collection market.
Moreover, the rapidly growing demand for electric toll collection from the developing region especially from the Asia Pacific is projected to create various opportunities in the electronic toll collection market over the forecast period. Among the regions, North America dominates the market of electronic toll collection market. The growing need for effective transportation system led to the high demand for electronic toll collection market in the North America region. The Asia Pacific is the fastest growing region in the electronic toll collection market owing to the rising government initiative and the growing automotive industries.
Segment Covered
The report on global electronic toll collection market covers segments such as type, product, technology, and applications. On the basis of type, the global electronic toll collection market is categorized into all-electronic tolling/open road tolling (AET/ORT) and electronic toll collection (ETC). On the basis of product the global electronic toll collection market is categorized into automated vehicle identification (AVI), automated vehicle classification (AVC) and violation enforcement system (VES). On the basis of technology the global electronic toll collection market is categorized into radio-frequency identification (RFID) based, dedicated short-range communication (DSRC) based, video analytics based and global positioning system based. On the basis of applications, the global electronic toll collection market is categorized into highway and urban.
Geographic Coverage
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region.
The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
Companies Profiled:
The report provides profiles of the companies in the global electronic toll collection market such as 3M, Cubic Transportation Systems, Inc, Siemens AG, Thales Group, Conduent Business Services, LLC, Kapsch Trafficcom AG, Efkon AG, Q-Free, Transurban Limited and Raytheon Company.
Report Highlights:
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global electronic toll collection market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of electronic toll collection market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the electronic toll collection market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the electronic toll collection market to understand the present and future trends in this market and formulate their strategies accordingly.
Please Choose One of them.