openPR Logo
Press release

Electronic Toll Collection Market worth $10.0 billion by 2025

04-08-2021 07:55 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

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", 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.

Download 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.

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.

Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=224492059

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.

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

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.

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 Electronic Toll Collection Market worth $10.0 billion by 2025 here

News-ID: 2267500 • Views: 110

More Releases from MarketsandMarkets

Smart Water Metering Market Size to Reach $9.6 billion by 2024 | Arad Group, Bad …
According to new research report "Smart Water Metering Market by Meter size is projected to reach USD 9.6 billion by 2024 from an estimated USD 5.9 billion in 2019, at a CAGR of 10.3% during the forecast period. The growing concern toward managing the supply of water is a driving factor for the market. Moreover, the adoption of the Internet of Things in the water industry is bringing opportunities
Heat Pump Market to Hit $94.42 Billion by 2023
The global Heat Pump Market is projected to reach a market size of USD 94.42 billion by 2023 from an estimated USD 54.34 billion in 2018, growing at a CAGR of 11.68% during the forecast period. In 2018, the market in Asia Pacific is estimated to be the largest for heat pumps, followed by Europe. This trend is expected to continue until 2023. The heat pump market is set to
Personal Care Ingredients Market worth $13.9 billion by 2025 | Key Players inclu …
According to recent market research "Personal Care Ingredients Market by Ingredient Type (Emollients, Surfactants, Rheology Modifiers, Emulsifiers, Conditioning Polymers, Others), Application (Skin Care, Hair Care, Oral Care, Make-up, Others), and Region - Global Forecast to 2025", The Personal Care Ingredients market is projected to reach USD 13.9 billion by 2025, at a CAGR of 4.0% from USD 11.4 billion in 2020. Browse 285 market data Tables and 66 Figures spread through
Weigh-In-Motion System Market Insights| Key Players: Kapsch TrafficCom (Austria) …
According to the new market research report "Weigh-In-Motion System Market by Type (In-Road, Bridge Weigh, Onboard), Vehicle Speed (Low, High), Component (Hardware, Software & Services), End-Use Industry (Highway Toll, Oil & Refinery, Logistics), Sensors, Function, Region - Global Forecast to 2027", Published by MarketsandMarkets™, The weigh-in-motion system market is projected to reach USD 1,730 million by 2027 from USD 858 million in 2020, at a CAGR of 10.5% during the

All 5 Releases


More Releases for RFID

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,
RFID Bracelet
RFID Bracelet 1.Housing ABS,Soft PVC 2.Chip:MiFare 1k,MiFare 4k,MiFare Ultralight 3.RFID Bracelet:ISO9001 4.15 years OEM RFID Bracelet: Waterproof silicone 125 KHz and 13.56 MHz Passive RFID bracelet. Perfect for short to medium range (Up to 60 cm) RFID applications such as around pools, waterparks, spas and other RFID access control applications where a waterproof bracelet is required. 1. Acid-proof 2. Alkali-proof 3. Constancy of properties over a wide temperature range leading to large operationg range 4.Excellent
RFID tags
RFID tag,rfid keyfob,rfid disc tag IC:EM4102,T5567,MF 1K,UHF Frequency:125KHZ,13.56MHZ,868MHZ Craft:logo printing,encoding RFID tag Frequency LF(Low Frequency): 125KHz HF(High Frequency): 13.56MHz RFID IC LF: Unique EM4100/4102, GK4001 HF: Mifare 1K,Mifare 4K, Mifare Ultralight, Mifare desfire I CODE SLI UHF Material PVC,ABS,Nylon Additional Craft
RFID keychain(EM4102)
RFID keychain with different chip embedded,with logo and number printing RFID keyfob is a transponder consisting of a chip and a coil-antenna in the robust ABS material. It has a hole for a key ring or chain. The key fobs is popularly for access control, time recording, operations (for example: cashless payment) and for the general identification for people. Key fobs are a good option to contactless cards. What we
RFID Wristband Tag
RFID Wristband, Mifare 1K RFID Wristband Tag with outstanding quality & excellent performance now is available at competitve Listing Description RFID bracelet,different colours and IC,EM4102,MF 1K,etc Detailed Description Reading distance:80mm Operating temperature -40 to 70 degree celsius Strong temperature -40 to 80 degree celsius Materials:ABS+PVC water-resistant:YES GK4001(125KHz 64 bits, R/O) EM4102(125KHz 64 bits, R/O) I CODE(13.56MHz 1024 bits,R/W) Mifare 1K(13.56MHz 1K byts,R/W) Hitag