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Electronic Toll Collection Market, Applications and Market- Industry Analysis, Size, Share, Growth and Forecast 2028

Electronic Toll Collection Market, Applications and Market-

The Electronic Toll Collection Market is expected to witness market growth at a rate of 8.58% in the forecast period of 2021 to 2028.

Industry Analysis

Data Bridge Market Research report on electronic toll collection market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market's growth. The initiatives taken by government to support the electronic toll are escalating the growth of electronic toll collection market.

Electronic toll collection refers to the cashless toll collection technology which assists in solving the problem of traffic congestion on various toll collecting sites because of the time-consuming process of cash or plastic money collection. These tolls do not require the vehicles to stop at the toll booths for collection. These systems collect by scanning the vehicles to stop at the toll booths. They operate by the cash tolls so that vehicles can cross the booth without any transponders. A toll road is private or public roadway which charges fee for passage. Electronic toll collection prevents traffic rush as it eliminates manual operation.

The high adoption of these systems owning to the use of the latest technological solutions including GPS & GNSS toll collection, tracking solutions and DSRC and the utilization of video analytics to efficiently manage traffic in highly congested areas act as the major factors drives the electronic toll collection market. The rise in demand for safety and efficiency of transportation infrastructure, technological advancements in this industry including GNSS and GPS technology and the initiatives by government to encourage the collection accelerate the electronic toll collection market growth. The increasing investment on toll lanes, the implementation of government new standards and regulations regarding the implementation of these systems and tolling and the convenience and flexibility of cashless payments influence the electronic toll collection market. Additionally, the high rate of acceptance due to effective solution for reducing traffic congestion, accidents and environmental pollution, rapid urbanization, improvement in transportation infrastructure and growing use of advanced digital technologies among consumers positively affect the electronic toll collection market. Furthermore, rise in utilization of blockchain technology in toll collection systems, surge in utilization of blockchain technology in toll collection systems from coin-based or manual tolling systems and increase in collaborations among public and private sector for transportation extend profitable opportunities to the electronic toll collection market players in the forecast period of 2021 to 2028.

On the other hand, implementation of stringent regulatory norms across some regions is expected to obstruct the electronic toll collection market growth. The rise in issues associated with the common standards, interoperability and selection of toll technology is projected to challenge the electronic toll collection market.

This electronic toll collection market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on electronic toll collection market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Get Full Access of reports @ https://www.databridgemarketresearch.com/reports/global-electronic-toll-collection-market

Electronic Toll Collection Market Scope and Market Size

The electronic toll collection market is segmented on the basis of type, technology, offering, application and parameters of toll amount. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

• On the basis of type, the electronic toll collection market is segmented into transponder/tag-based and others.

• On the basis of technology, the electronic toll collection market is segmented into RFID, DSRC and others.

• On the basis of offering, the electronic toll collection market is segmented into hardware and back office and other services.

• On the basis of application, the electronic toll collection market is segmented into highways and urban areas.

• On the basis of parameters of toll amount, the electronic toll collection market is segmented into distance based, point based, time based and perimeter based.

Competitive Landscape and Electronic Toll Collection Market Share Analysis

The electronic toll collection market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to electronic toll collection market.

The major players covered in the electronic toll collection market report are Kapsch TrafficCom AG, TransCore, Raytheon Company, Conduent Inc., Thales Group, Cubic Corporation, Vinci SA, Siemens AG, EFKON, Neology Inc., TOSHIBA CORPORATION, MITSUBISHI HEAVY INDUSTRIES LTD, Abertis, Quarterhill Inc., Perceptics LLC, Star Systems International, Electronic Transaction Consultants Corporation, ARH Inc., SICE, Autostrade per l'Italia, JENOPTIK AG, Far Eastern Electronic Toll Collection Co Ltd., Toll Collect GmbH, GeoToll, Indra Sistemas, Kistler Group, American Traffic Solutions among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

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About Data Bridge Market Research:

An absolute way to forecast what future holds is to comprehend the trend today!

Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavours to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process. Data Bridge is an aftermath of sheer wisdom and experience which was formulated and framed in the year 2015 in Pune.

Data Bridge Market Research has over 500 analysts working in different industries. We have catered more than 40% of the fortune 500 companies globally and have a network of more than 5000+ clientele around the globe. Data Bridge adepts in creating satisfied clients who reckon upon our services and rely on our hard work with certitude. We are content with our glorious 99.9 % client satisfying rate.

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