Electronic Toll Collection Market worth $10.0 billion by 2025 - Exclusive Report by MarketsandMarkets™

CHICAGO, July 27, 2020 /PRNewswire/ -- According to the new market research report "Electronic Toll Collection Market with COVID-19 Impact Analysis by Technology (RFID, DSRC, ANPR/ALPR, and Satellite-Based), Offering (Hardware, and Back Office and Other Services), Application , Type, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Electronic Toll Collection Market is projected to reach USD 10.0 billion by 2025 from USD 6.9 billion in 2020; it is expected to grow at a CAGR of 7.7% during the forecast period. The growth of the ETC market is primarily attributed to the role of ETC system as an effective solution to reduce traffic congestion, accidents, and environmental pollution; strong government support to accelerate electronic toll collection, greater convenience and flexibility of cashless payments, and increased use of advanced technologies in transportation infrastructure.

Ask for PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=224492059      

Factors such as growing utilization of blockchain technology in toll collection systems, rising number of public-private partnership agreements in the transportation sector, and increasing transition to All Electronic Tolling (AET) systems from manual or coin-based tolling systems are expected to create growth opportunities for the market.

RFID technology segment of the electronic toll collection market projected to grow at the highest CAGR during the forecast period.

RFID technology utilizes its radio-frequency electromagnetic fields for the identification of objects that carry RFID tags. This technology is used in electronic identification, tracking, and storing information contained on the tag. Two-way radio transmitters/receivers called interrogators or readers send a signal to the tag and read its response. RFID readers scan the tag and then send that information to the database for storing. RFID is a prominent technology used in ETC systems owing to its low operational cost.

Among application, the highways segment projected to hold a larger share of the electronic toll collection market during the forecast period.

Technologically advanced ETC systems have provided an efficient way to overcome all the problems related to toll collection on highways. Nowadays, ETC systems based on leading-edge technologies such as RFID, DSRC-, video analytics, and GNSS/GPS are being used. ETC systems have been playing a crucial role in collecting a toll on highways, tunnels, and bridges wherein conventional or manual toll collection has been transitioning to all-electronic tolling (AET) and high-tech transportation systems.

Browse in-depth TOC on "Electronic Toll Collection Market"

77 – Tables
55 – Figures  
165 – Pages

Inquiry Before Buying:

https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=224492059

The electronic toll collection market in North America projected to hold the largest share in 2025.

North America is expected to continue to lead the electronic toll collection market by capturing the largest market size throughout the forecast period. The US and Canada are the key countries in North America with most vehicles per person, which is one of the most contributing factors to the growth of the electronic toll collection market. Additionally, both the countries have the largest networks of interstate and state highways wherein advanced toll collection systems are installed at many locations, and several toll installation projects are in progress for lanes with high traffic. Leading companies such as TransCore (US), Raytheon (US), and Conduent (US) in the electronic toll collection market have their base in North America while having operations in countries across the world. They contribute significantly to the growth of the electronic toll collection market in the region.

Kapsch TrafficCom (Austria), Conduent, Inc. (US), Efkon GmbH (Germany), TransCore (US), Thales Group (France). Raytheon Technology Corporation (US), Cubic Corporation (US), Siemens AG (Germany), Neology Inc. (US), and Feig Electronics (Germany) are a few major players in the electronic toll collection market.

Related Reports:

Automatic Number Plate Recognition (ANPR) System Market by Type (Fixed, Mobile, Portable), Component (ANPR Cameras, Software, Frame Grabbers, Triggers), Application (Traffic Management, Law Enforcement, Electronic Toll Collection, Parking Management), and Geography - Global Forecast to 2023.

Intelligent Transportation System Market with COVID-19 Impact Analysis by Offering, System (Advanced Traffic Management System, ITS-Enabled Transportation Pricing System, and Others), Application, and Geography - Global Forecast to 2025.

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

Visit Our Web Site: https://www.marketsandmarkets.com
Research Insight : https://www.marketsandmarkets.com/ResearchInsight/electronic-toll-collection-system-market.asp
Content Source : https://www.marketsandmarkets.com/PressReleases/electronic-toll-collection-system.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg