Electronic Toll Collection Market 2022-2027: Size, Share, Growth, Analysis and Forecast Report

Market Overview:

According to the latest report by IMARC Group, titled "Electronic Toll Collection Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," offers a comprehensive analysis of the industry, which comprises insights on market size. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global electronic toll collection market reached a value of US$ 9.34 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 16.6 Billion by 2027, exhibiting at a CAGR of 10.51% during 2022-2027. Electronic toll collection (ETC) is an automatic mechanism that uses sophisticated cameras and sensors to perform several functions at a toll booth. This system utilizes various solutions, including Global Positioning System (GPS), Dedicated Short-Range Communications (DSRC), Global Navigation Satellite System (GNSS), video analytics, etc., for vehicle tracking and toll collection. The ETC system can capture images of the registration plate of vehicles and scan the transponders attached to them to collect the correct toll automatically. This saves the travel time of people, offers a cashless facility, minimizes congestion at the toll booths, and quickens transactions. As a result, ETC systems find extensive utilization in highways and urban areas across the globe.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Request Free Sample Report: https://www.imarcgroup.com/electronic-toll-collection-market/requestsample

Important Attribute and highlights of the Report:

• Detailed analysis of the global market share
• Market Segmentation
• Historical, current, and projected size of the market in terms of volume and value
• Latest industry trends and developments
• Competitive Landscape
• Strategies of major players and product offerings

Global Electronic Toll Collection Market Trends:

The escalating requirement for smart transportation systems and the development of effective traffic management solutions are primarily driving the electronic toll collection market. Besides this, owing to the rising number of on-road vehicles, these systems find widespread applications across developing countries to manage the congestion at toll plazas on roads and highways, which is further augmenting the market growth. Apart from this, ETC systems assist in tracking stolen automobiles and managing over-speeding vehicles, which is also catalyzing the global market. Moreover, the launch of favorable policies by the government bodies to improve transportation infrastructures and the increasing research and development (R&D) activities in the automotive sector are acting as significant growth-inducing factors. Furthermore, the growing popularity of radio-frequency identification (RFID) sensors for monitoring vehicles is expected to bolster the electronic toll collection market in the coming years.

Explore Full Report with TOC & List of Figures: https://www.imarcgroup.com/electronic-toll-collection-market

Key Market Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• 3M
• Conduent Business Services LLC
• Cubic Transportation Systems Inc.
• Efkon AG
• Kapsch Trafficcom AG
• Q-Free
• Raytheon Company
• Schneider Electric
• Siemens AG
• Thales Group
• Trans Core
• Transurban Limited Ltd.

Breakup by Technology:

• RFID
• DSRC
• Others

Breakup by System:

• Transponder - or Tag-Based Toll Collection Systems
• Other Toll Collection Systems

Breakup by Subsystem:

• Automated Vehicle Identification
• Automated Vehicle Classification
• Violation Enforcement System
• Transaction Processing

Breakup by Offering:

• Hardware
• Back Office and Other Services

Breakup by Toll Charging:

• Distance Based
• Point Based
• Time Based
• Perimeter Based

Breakup by Application:

• Highways
• Urban Areas

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

TOC for the Report:

• Preface
• Scope and Methodology
• Executive Summary
• Introduction
• Global Market
• SWOT Analysis
• Value Chain Analysis
• Price Analysis
• Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

Browse Related Report:

• India Flavors Market Report: https://www.imarcgroup.com/india-flavors-market

• India Extruded Snack Food Market Report: https://www.imarcgroup.com/india-extruded-snack-food-market

• India Reusable Sanitary Napkin Market Report: https://www.imarcgroup.com/india-reusable-sanitary-napkin-market

• India Isabgol (Psyllium Husk) Market Report: https://www.imarcgroup.com/india-isabgol-market

• Visual Effects (VFX) Market Report: https://www.imarcgroup.com/visual-effects-market

IMARC Group
30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.