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Electronic Toll Collection Market Report 2019-2026 | Proficient Analysis of Key Players, Types, Future Prospects Details for Business Rate

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Sep 19, 2019 (Innovative Reports via COMTEX) -- Global Electronic Toll Collection Market is valued approximately USD 7.62 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 10.12% over the forecast period 2019-2026. An electronic toll collection system is an electronic charging toll machine which charges a toll to an existing customer account as it can determine whether the passing vehicle is registered or not registered within the system. It further generates an alert to the local highway patrol if the vehicle is not registered. This system allows the owner to pass through the toll booths without stopping the vehicle in between the road thereby reducing traffic congestions due to manual operations. Thus, the electronic toll collection system is a feasible solution to reduce pollution and an alternative to maintain the highway lanes during the rush hours, or during any ongoing maintenance activities. Growing demand for safety and efficiency in transportation infrastructure is one of the major factors responsible for high CAGR of the market.

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Increasing investment opportunities in economically and technologically developing countries and rising number of public & private partnership agreements in transportation sectors are the factors that offers opportunities in the market. Additionally, government support towards the employment of these systems and tolling and technological enhancements are contributing towards growth of global Electronic Toll Collection market. However, high initial investment and maintenance expenses and slow growth in infrastructure sector in underdeveloped countries are the factor that limiting the market growth during the forecast period.

The regional analysis of global Electronic Toll Collection market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to increasing traffic and developed road infrastructures in the region. Europe is anticipated to grow at satisfactory rate in the global Electronic Toll Collection market during the forecast period. Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026 due to increasing traffic problems in the region. In the other regions such as the Middle East and Africa, the growth of the Electronic Toll Collection market is moderate due to lack of proper infrastructure facilities in these regions.

Major market player included in this report are: Kapsch Group, Thales Group, Toshiba Corporation, Raytheon, Conduent LLC, Siemens AG, TransCore LP, Cubic Transportation, Perceptics LLC, EFKON GmbH

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

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By Subsystem:

  • Automated Vehicle Identification

  • Automated Vehicle Classification

  • Violation Enforcement System

  • Transaction Processing

By Technology:

  • Radio Frequency Identification (RFID)

  • Dedicated Short Range Communication (DSRC)

  • Infrared

  • GNSS & GPS

  • Video Analytics

By Application:

  • Urban

  • Highways

By Regions:

  • North America- U.S., Canada

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