Market Research Report
Electronic Toll Collection Market by Subsystem, Technology, and Application - Global Opportunity Analysis and Industry Forecast, 2018-2025
|Published by||Allied Market Research||Product code||701176|
|Published||Content info||465 Pages
Delivery time: 2-3 business days
|Electronic Toll Collection Market by Subsystem, Technology, and Application - Global Opportunity Analysis and Industry Forecast, 2018-2025|
|Published: August 1, 2018||Content info: 465 Pages||
The global electronic toll collection market is expanding rapidly to cater to the growing demands of safe and faster transportation infrastructure. Moreover, technological advancements in this industry have enforced governments across the globe to make heavy investments on toll lanes. For instance, Croatia is expected to become the first European country to install free-flow tolling across its existing DSRC network. The Croatian Ministry of Sea, Transport and Infrastructure is investing $9 million to deploy ETC system and replace existing manual payment booths by 2020.
Among the analyzed geographical regions, North America exhibits the highest adoption of electronic toll collection systems. On the other hand, Asia-Pacific is expected to grow at a faster pace during the forecast period.
The free-flow system offered by ETC is able to manage several lanes by electronically collecting tolls from vehicles as they pass beneath an overhead gantry. This system is currently being widely used in countries such as the U.S., Australia, Canada, Chile, and Israel. Furthermore, in the electronic toll collection systems, the GPS technology is expected to replace RFID technology in the future.
The global electronic toll collection market is segmented based on subsystem, technology, application, and region. By subsystem, the market is divided into automated vehicle identification, automated vehicle classification, violation enforcement system, and transaction processing. On the basis of technology, it is fragmented into RFID, dedicated short-range communication, infrared, GNSS/GPS, and video analytics. Depending on application, it is divided into urban and highways. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
Major players operating in the global electronic toll collection market include Kapsch Group, Thales Group, Toshiba Corporation, Raytheon, Conduent LLC, Siemens AG, TransCore LP, Cubic Transportation, Perceptics LLC, and EFKON GmbH.
These players focus on vital market strategies, such as mergers, acquisitions, collaborations, and partnerships, to strengthen their market outreach, thereby retaining their position in the competitive market.