openPR Logo
Press release

Demand for Rfid Electronic Toll Collection System Market from Major End-use Sectors to Increase in the Near Future

10-20-2020 09:52 PM CET | IT, New Media & Software

Press release from: Persistence Market Research (PMR)

Demand for Rfid Electronic Toll Collection System Market from

Many toll collection systems have already been developed with RFID technology, which is used to verify the identity of vehicles. RFID technology can provide new capabilities as well as an efficient method to manage, analyze, and collect information of vehicles at toll plazas. RFID electronic toll collection lanes reduce the traffic at toll booths. Increasing number of RFID lane systems, resulting in increased demand for integration, support services, and maintenance, is anticipated to fuel the growth of the RFID electronic toll collection system market during the forecast period.As per the report, the global RFID electronic toll collection system market generated a revenue of nearly US$ 5 Bn in 2019.

To remain ‘ahead’ of your competitors, request for a sample here@ https://www.persistencemarketresearch.com/samples/31381

Key Takeaways of RFID Electronic Toll Collection System Market StudyThe urban segment is expected to gain significant share, owing to the high number of vehicles in smart cities.RFID electronic toll collection systems are ecofriendly and also result in increased toll lane capacity, which drives market growth.The point charge segment by toll charge is expected to hold a prominent share in the RFID electronic toll collection system market, owing to the reduction of time required to create a custom quote.Rapid adoption of effective transportation systems is anticipated to result in significant dominance of North America in the global RFID electronic toll collection system market.?“Intelligent transport systems (ITS) are meant to increase efficiency and safety by integrating various subsystems, including GPS-based toll collection systems, traffic control systems, and vehicle detection systems. This factor is expected to increase the adoption of RFID electronic toll collection systems during the forecast period,” says a PMR analyst.Impact of COVID-19 on RFID Electronic Toll Collection System MarketTransportation is the backbone of any. As of now, due to the COVID-19 outbreak, the high number of people staying indoors has resulted in a decrease in the use of vehicles. In 2019, total value of the RFID electronic toll collection system market was nearly US$ 5 billion. With the COVID-19 outbreak, decreased manufacturing of different hardware such as RFID tags, RFID readers, and RFID antennas will reduce market growth by 2-3% this year. China and South Korea are the biggest markets for refurbished IT and electronic products. The COVID-19 outbreak in China has seen production come to a standstill, which will negatively impact market growth. All public transportation and highways are shut due to lockdowns in many countries, a major factor that will adversely impact market growth in the short term.

To receive extensive list of important regions, ask for TOC here@ https://www.persistencemarketresearch.com/market-research/rfid-electronic-toll-collection-system-market/toc

Technology Advancements in Electronic Toll Collection Systems to Boost Market GrowthA toll collection system is an element of information and communication technology that allows for nonstop toll collection. The revolutionary recreational vehicles (RV) tolling pass is tailored completely to the requirements of RV identity, and features a single billing account and single transponder account that can be utilized across many electronic toll collection plazas.For instance, in June 2018, TransCore announced a new product that provides RVers to travel across the country, utilizing only one transponder to pay toll electrically without stopping at a toll plaza. This technology will change the way RVers use toll roads.More Valuable Insights on RFID Electronic Toll Collection System MarketA new market research report published by Persistence Market Research (PMR) on the global RFID electronic toll collection system market includes global industry analysis of 2015–2019 and opportunity assessment for 2020–2030. The report provides valuable insights on the basis of component (hardware (RFID UHF antennas, toll RFID readers/scanners, RFID vehicle tags, and barcode labels), toll collection & management software, and services (integration & installation, and support & maintenance)), toll charge (perimeter-based charges, time-based charges, point-based charges, and distance-based charges), and application (urban areas and roadways, and highways), across six major regions.

305 Broadway, 7th Floor
New York City, NY 10007
United States
Ph.no. +1-646-568-7751
E-mail id- sales@persistencemarketresearch.com
Website: https://www.persistencemarketresearch.com

Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.Our client success stories feature a range of clients from Fortune 500 companies to fast-growing startups. PMR’s collaborative environment is committed to building industry-specific solutions by transforming data from multiple streams into a strategic asset.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Demand for Rfid Electronic Toll Collection System Market from Major End-use Sectors to Increase in the Near Future here

News-ID: 2166140 • Views:

More Releases from Persistence Market Research (PMR)

Virtual Desktop Infrastructure Market Unit Sales to Witness heightened Growth in the Near Future
Virtual Desktop Infrastructure Market Unit Sales to Witness heightened Growth in …
As per findings of a new market research report by Persistence Market Research, the global virtual desktop infrastructure market reached a valuation of nearly US$ 3.5 Bn in 2019, and is anticipated to exhibit a CAGR of around 12% during the forecast period of 2020 to 2030.The adoption of BYOD allows employees to bring their own devices in the organization, which allows then to access company information and applications via virtual desktop infrastructure. With such a BYOD policy, both, employers
Physician Scheduling Systems Market to Generate Profitable Avenues for Existing Companies as Well as New Players
Physician Scheduling Systems Market to Generate Profitable Avenues for Existing …
As per findings of a new market research report by Persistence Market Research, the global physician scheduling system market reached US$ 311 Mn in 2019 and is anticipated to exhibit a healthy CAGR of 14% during the forecast period of 2020 to 2030. Adoption of physician scheduling systems is increasing across the world, as physicians encounter difficulties with increasing administrative tasks and regulations, which affects their ability to offer patient care, and they struggle to sustain their practices. To combat administrative work
Smart Home Cloud Platform Market Unit Sales to Witness heightened Growth in the Near Future
Smart Home Cloud Platform Market Unit Sales to Witness heightened Growth in the …
In a smart home, appliances such as ACs, TVs, geysers, and lights have the potential to communicate with a cloud server. The cloud server communicates with these smart devices by sending and receiving signals through smartphones, laptops, or voice-enabled digital assistant devices.A homeowner can make his/her existing home smart by integrating cloud-based technology with it. Cloud computing enables homeowners to remotely access their home appliances, even if they are miles
Rising Demand from Consumers to Push Sales of Threat Intelligence Market
Rising Demand from Consumers to Push Sales of Threat Intelligence Market
The growth of cyber-attacks against organizations and entities have made traditional cybersecurity measures virtually outdated which has given rise to the requirement of threat intelligence. It is the knowledge that helps organizations to comprehend the risks caused by common and severe external threats. Many a time the organizations face risks like zero-day threats, and exploits. These threats exploit the vulnerability and generate an incident which can cause harm to the

All 5 Releases


More Releases for RFID

RFID Readers Market Growth by 2027 | Fixed RFID Readers, Integrated RFID Readers …
Future Market Insights (FMI) has published a new research report titled “Radio Frequency Identification (RFID) Readers Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027).” The report states that the growing penetration of advanced technology along with increasing supply chain complexities are encouraging consumers to adopt RFID technology. Owing to this, players operating in the RFID readers market are incessantly upgrading their product portfolios in order to meet the demands
Global RFID Tag Chips Market by Type, HF RFID Chip, UHF RFID Chip, LF RFID Chip, …
This study report Global RFID Tag Chips Market, the analyst provides growth estimates, forecasts, and an in-depth analysis of all key factors at play in the Market. The report takes into account the micro and macro factors that are likely to impact the growth trajectory of the Market. The study further presents details on the investments initiated by several organizations, institutions, government, and non-government bodies. The report investigates and analyzes the
RFID Equipment Market - The Rising Application of RFID In Healthcare RFID Techno …
The applications of Radio Frequency Identification (RFID) have widened in the healthcare industry, ranging from tracking medical equipment, patient identification and blood transfer monitoring to tracking the path of medication from pharmacy to the patient. Due to this, the RFID equipment market has witnessed a high growth rate over the years. Providing clients with in-depth analysis and competitive intelligence, the research report evaluates the RFID equipment market and all
RFID Tag Chip Market: By Applications - HF RFID Tags, UHF RFID Tags, LF RFID Tag …
Latest industry research report on: Global and United States RFID Tag Chip Market | Industry Size, Share, Research, Reviews, Analysis, Strategies, Demand, Growth, Segmentation, Parameters, Forecasts Request For Sample Report @ https://www.marketresearchreports.biz/sample/sample/1227953 This report studies the RFID Tag Chip market status and outlook of global and United States, from angles of players, regions, product types and end industries; this report analyzes the top players in global and United States market, and splits
rfid clear tag for rfid inventory (gyrfidstore)
RFID Disc Tags are widely used for inventory tracking system or Automatic production systems. The RFID Disc Tag can also work on metal surface with anti-metal layer on it, also can be attached to goods surface by adhesive layer. There are abundant size options from 12mm to 50mm. GYRFID presents several types with different material and size to suitable customer’s application. DIP Series- PVC Disc Tag, PVC Laminated, thickness of 1.0-1.2mm DIT
windshield rfid tag for rfid solutions(gyrfidstore)
The strength of RFID label or RFID Stickers compared with other tags is the thinner thickness, various size, flexible and cost efficient. It can be sealed inside of goods or stick on the device surface with adhesive layer. The label is also optional with anti-metal layer to mount and working on metal surface. GYRFID Provides different types Stickers to meet the requirement for different applications such as NFC Payments,