The analysts at Future Market Insights (FMI) followed a multidisciplinary approach during the pandemic to study the growth and development of the Electronic Toll Collection Market. The report features insights on the current growth dynamics and the major revenue reforms prevailing in the market as along with the key takeaways over the forecast period 2022 to 2032. The assessment period is anticipated to see a CAGR of 10.5% for the worldwide electronic toll collecting market.
The team of researchers at Future Business Insights are focusing on research and market study to produce different Electronic Toll Collection Market forecasts and predictions at both national and international levels. They have considered several leads of information pertaining to the industry like market figures and merger estimations to assess and produce reliable and informative insights on the Electronic Toll Collection Market.
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The need to reduce travel time, the availability of cashless transportation, the need to reduce or eliminate traffic congestion, and quick toll transactions are the main factors influencing future growth.
The market for electronic toll collecting is predicted to keep growing quickly in order to keep up with the escalating need for an infrastructure that is better, safer, and more secure. The market for electronic toll collecting offers quick, effective, and reasonably priced services. They include user-friendly buttons that are simple to use.
Due to the fact that these systems do away with the necessity for several toll plazas, which saves money for road operator agencies, they are also advantageous for traffic agencies and businesses. The environment benefits from electronic toll collecting systems because they lessen the quantity of emissions that vehicles generate when they stop and start at manual toll booths.
What is the Segmentation Outlook for the Electronic Toll Collection Market?
Participants in the ETC ecosystem provide a wide range of solutions, including maintenance, payment processing, revenue assurance, software services, system integration, and toll system operations. It is the long-term answer to the issue of reducing traffic congestion.
Transponders, antennae, communication systems, treadles, inductive loops, scanning devices, weigh-in-motion devices, cameras, and film storage devices are some of the product categories that make up the market.
Automatic vehicle identification (AVI), automatic vehicle classification (AVC), back-office & integration, and violation enforcement system are just a few of the subsystems that make up an electronic toll collection system (VES). These subsystems are beneficial for a variety of tasks, including AVI for vehicle identification, AVC for vehicle classification, toll collection transactions by fusing the back-office and payment system, and VES for lowering unpaid tolls through vehicle imaging.
The ETC market can be divided into a number of categories based on technologies, including radio-frequency identification (RFID), dedicated short-range communications (DSRC), video analytics, global positioning system (GPS), and global navigation satellite system (GPS)
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Key Players
The writer will create content on the general strategies of market players. And then will write the key players in the market are:
- Honeywell International,Inc
- Transurban
- Transtoll Pty Ltd.
- Transcore Holdings, Inc.
- Toll Collect GmbH
- TRMI Systems Integration
- Sensor Dynamics
- Xerox Corporation
- 3M
- Connect East
- EFKON
- SAIC
- DENSO
Segmentation
The report provides insights on the important highlights and current trends prevailing in the market. This helps the readers to gain a deeper understanding and form an unbiased opinion on the market. Numerous segmentations have been provided for this market based on:
By Product
Transponders
Antennae
Communication systems
Treadles
Inductive loops
Scanning devices
Weigh-in-motion devices
Cameras and film storage devices
By Technology
Radio-Frequency Identification (RFID)
Dedicated Short-Range Communications (DSRC)
Video Analytics
Global Navigation Satellite System (GNSS)
Global Positioning System (GPS)
By Application
Highway
Urban
Bridges
By Region
North America
Latin America
Asia Pacific
Japan
Western Europe
Eastern Europe
Middle East & Africa
