RFID Electronic Toll Collection System Market 2021 Expected to reach US$ 9.4 Billion with 6.1% CAGR Forecast to 2030

RFID Electronic Toll Collection System Market 2021-2030

New Study Reports " RFID Electronic Toll Collection System Market 2021 Global Opportunities, Challenges, Strategies and Forecasts 2030" has been Added on PersistenceMarketResearch.

Report Details:

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.

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Key Players:

The report has profiled some of the Important players prevalent in the global like – Honeywell, Kapsch Trafficcom AG, TransCore, Siemens, Vaaaninfra, Neology, Inc., ID Tech Solutions Private Limited. and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the RFID Electronic Toll Collection System.

Key Takeaways of RFID Electronic Toll Collection System Market Study

The 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.

Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)

Key Stakeholders 
RFID Electronic Toll Collection System Market Manufacturers 
RFID Electronic Toll Collection System Market Distributors/Traders/Wholesalers 
RFID Electronic Toll Collection System Market Subcomponent Manufacturers 
Industry Association 
Downstream Vendors

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Major Highlights of the RFID Electronic Toll Collection System Market Report:

The RFID Electronic Toll Collection System Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.

The report dives deeper into the market and explains the dynamic factors bolstering market growth.

The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.

The report analyzes the RFID Electronic Toll Collection System Market presence across major regions of the world.

It determines the production & consumption capacities and demand & supply dynamics of each regional market.

The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.

It provides company overview and SWOT analysis of each of the market players.

Key Questions Answered in This Report.

What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
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PersistenceMarketResearch is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.

This release was published on openPR.