Electronic Toll Collection market size is estimated to be worth US$ 5033.8 million in 2022 and is forecast to a readjusted size of US$ 6254.6 million by 2028 with a CAGR of 3.7% - Valuates Reports

Due to the COVID-19 pandemic, the global Electronic Toll Collection market size is estimated to be worth US$ 5033.8 million in 2022 and is forecast to a readjusted size of US$ 6254.6 million by 2028 with a CAGR of 3.7% during the review period.

Get Sample Report - https://reports.valuates.com/request/sample/QYRE-Auto-14K2384/Global_Electronic_Toll_Collection_Market_Insights_Forecast_to_2028

Fully considering the economic change by this health crisis, by Type, Rfid-Based ETC Systems accounting for % of the Electronic Toll Collection global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR in the post-COVID-19 period. While by Application, Highway Tolling was the leading segment, accounting for over percent market share in 2021, and altered to an % CAGR throughout this forecast period.

Key drivers of the electronic toll collection market include the need to control traffic congestion, accidents, and other road infrastructure problems.

Strong government support and favorable policies for implementing electronic toll collection systems and the benefits of cashless payment systems will spur the growth of the electronic toll collection market in the upcoming years.

Technological innovations in transport infrastructure will fuel the market growth during the forecast period.

What is Electronic Toll Collection?
Electronic toll collection is used to collect tolls on roads by electronic methods. This technology determines that the cars and other automobiles that pass through the toll are enrolled in the system. If not, it alerts the tax collectors that the respective cars are not enrolled in the system. The toll from the enrolled cars is automatically debited, thus avoiding the need for the car to stop at the collection counter.

Get Detailed Report - https://reports.valuates.com/request/sample/QYRE-Auto-14K2384/Global_Electronic_Toll_Collection_Market_Insights_Forecast_to_2028

Need for improving road infrastructure
High vehicle emissions during peak traffic hours lead to severe congestion and public health problems. However, with ongoing research, electronic toll systems can allow the seamless passing of cars and vehicles. This reduces the chances of road accidents. Hence policies are being put in place for deploying electronic toll systems instead of manual toll collection. These factors will spur the growth of the electronic toll collection market during the review period.

Favorable government policies
With the rise of automation and strong government backing, electronic toll systems are being implemented on roads and highways across the world. The growing public, and private partnerships, and boost in the digital payment systems have encouraged the use of electronic toll for fast cashless payments. This will boost the growth of the electronic toll collection market during the forecast period.

Rapid technological advancements
Smart city initiatives and improving road infrastructure for reducing CO2 emissions have given the rise to electronic tolling systems. Advanced technologies such as automated tolling systems through GPS, RFID, GNSS, DSRC, or video analytics with smart traffic management solutions are revolutionizing the entire industry. This in turn will propel the growth of the electronic toll collection market in the upcoming years. The ability to automatically debit the accounts of car owners without the need for stopping the car or encountering hassles has benefited the industry stakeholders significantly.

Electronic Toll Collection Market Insights
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Electronic Toll Collection market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Electronic Toll Collection market in terms of revenue.

Electronic Toll Collection Market Insights

Overall, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Electronic Toll Collection market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Electronic Toll Collection market.

Electronic Toll Collection Market size and share
Based on Type, Rfid-Based ETC Systems is expected to have highest market share in Electronic Toll Collection Market.

Based on application, the highway tolling segment will provide lucrative opportunities for growth in the electronic toll collection market share due to implementation in highways for alleviating the problems of traffic congestion, accidents, and pollution.

Based on region, North America is expected to witness huge growth in the electronic toll collection market share due to a huge number of vehicles on the road and a large network of interstate highways

Electronic Toll Collection Market Segment and Scope
Electronic Toll Collection market is segmented by players, region (country), by Type and by Application. Players, stakeholders, and other participants in the global Electronic Toll Collection market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application for the period 2017-2028.

Electronic Toll Collection Market Segment By Type
Rfid-Based ETC Systems
Dsrc-Based ETC Systems
Video Analytic-Based ETC Systems
Gnss/Gps-Based ETC Systems
Electronic Toll Collection Market Segment By Application
Highway Tolling
Urban Tolling
Competitive Landscape and Electronic Toll Collection Market Share Analysis
Electronic Toll Collection market competitive landscape provides details and data information by players. The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2017-2022. It also offers detailed analysis supported by reliable statistics on revenue (global and regional level) by players for the period 2017-2022. Details included are company description, major business, company total revenue and the sales, revenue generated in Electronic Toll Collection business, the date to enter into the Electronic Toll Collection market, Revenue in Electronic Toll Collection Business (2017-2022) & (US$ Million) introduction, recent developments, etc.

The major vendors covered:

➣Toshiba
➣Mitsubishi
➣MIFARE
➣Shutoko
➣Xerox
➣Kapsch Trafficom AG
➣Q-Free
➣Hitachi
➣Illinois Tollway
➣Metro Infrasys
➣Conduent Transportation

By Region
➣North America
➣United States
➣Canada
➣Europe
➣Germany
➣France
➣UK
➣Italy
➣Russia
➣Nordic Countries
➣Rest of Europe
➣Asia-Pacific
➣China
➣Japan
➣South Korea
➣Southeast Asia
➣India
➣Australia
➣Rest of Asia
➣Latin America
➣Mexico
➣Brazil
➣Rest of Latin America
➣Middle East & Africa
➣Turkey
➣Saudi Arabia
➣UAE
➣Rest of MEA

Similar Reports

Intelligent Transportation System Market - https://reports.valuates.com/reports/QYRE-Auto-4H1934/global-intelligent-transportation-system-its

Smart Transportation Market - https://reports.valuates.com/market-reports/QYRE-Auto-29X5958/global-smart-transportation

IoT Fleet Management - Markethttps://reports.valuates.com/market-reports/QYRE-Auto-L394/global-iot-fleet-management

Valuates Reports
sales@valuates.com
For U.S. Toll Free Call +1-(315)-215-3225
For IST Call +91-8040957137
WhatsApp : +91-9945648335

Website: https://reports.valuates.com
Twitter - https://twitter.com/valuatesreports
Linkedin - https://in.linkedin.com/company/valuatesreports
Facebook - https://www.facebook.com/valuatesreports/

Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.

This release was published on openPR.