Electronic Toll Collection Market Share, Size, Growth, Global Forecast, Analysis, Research Report 2022-2027

Electronic Toll Collection Market Report 2022-2027

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.

An electronic toll collection (ETC) system is an automated machine that collects usage fees from vehicles at toll plazas. This system involves high-quality sensors and cameras that determine if the passing vehicle is registered. ETC efficiently collects the required data by scanning automated radio transponders installed in registered vehicles. This system allows the owner to pass through the toll booths without stopping the vehicle, thereby reducing traffic congestions caused by manual operations. ETC systems offer efficient vehicle tracking, enhanced cash handling, fuel efficiency and payment flexibility.

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.

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Global Electronic Toll Collection Market Trends:

The global ETC market is being driven by the rising need for efficient traffic management systems. Besides this, growing consumer spending capacities have led to an increase in vehicle sales, which has resulted in the demand for an improved road transportation network. Moreover, the widespread convergence of advanced technology with ETC systems is driving the market toward growth.

For instance, the integration of radio frequency identification (RFID) and global positioning system (GPS) technologies in ETC systems enables the fast identification of registered vehicles and real-time monitoring. Furthermore, governments of various nations, especially that of developing countries, are mandating ETC systems to manage speeding vehicles, regulate traffic jams and increase transparency in the toll collection process. This, in turn, is creating a positive outlook for the market.

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

Competitive Landscape:

The competitive landscape of the market has been studied in the report with 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.

Key Market Segmentation:

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.

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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.

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This release was published on openPR.