Electronic Toll Collection Market to Surpass $15,648.2 Million by 2025 | owing to enhanced cashless facilities provided by ETC and rise in global awareness
According to a recent report published by Allied Market Research, the global electronic toll collection market was valued at $6,855.5 million in 2017, and is projected to reach at $15,648.2 million by 2025, growing at a CAGR of 10.7% from 2018 to 2025.
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Asia-Pacific is expected to be a dominant player in the global electronic toll collection market, due to increase in demand for vehicles among citizens and rise in use of IoT in the automobile segment. Moreover, technological advancements in the automotive industry and government initiatives such as investment in R&D in electronic toll collection propel the growth of the market. For instance, on October 30, 2017, BMW Japan Corp.
•This study comprises an analytical depiction of the global electronic toll collection market along with the current trends and future estimations to portray the imminent investment pockets.
•The overall market potential is determined to understand the lucrative trends to gain a stronger foothold in the industry.
•The report includes information on key drivers, restraints, and opportunities with a detailed impact analysis.
•The market is quantitatively analyzed from 2017 to 2025 to highlight the financial competency.
•Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the global market.
Began installing DSRC ETC units as standard on all models sold in the country, including motorbikes. Japan witnesses highest penetration of ETC devices across the world, with almost 60 million active units. Unlike other DSRC domains in Europe, Asia, or South America, all units are embedded into the dashboard and come with a separate receiver to ensure line of sight with the gantry.
Electronic Toll Collection Market Key Segments:
• Automated Vehicle Identification
• Automated Vehicle Classification
• Violation Enforcement System
• Transaction Processing
• Radio-frequency Identification (RFID)
• Dedicated Short-range Communication (DSRC)
• GNSS & GPS
• Video Analytics
Major players operating in the global electronic toll collection market include Kapsch Group, Thales group, Toshiba Corporation, Raytheon, Conduent LLC, Siemens AG, TransCore LP, Cubic Transportation, Perceptics LLC, and EFKON GmbH.
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About Allied Market Research
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.
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