(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Sep 24, 2021, 01:41 /Comserve / -- According to the new market research report, the electronic toll collection market is expected to grow from USD 6.00 billion in 2016 to USD 10.57 billion by 2022, at a CAGR of 9.16% between 2017 and 2022.
“Electronic toll collection market expected to grow at a CAGR of 9.16% between 2017 and 2022”
According to the new market research report, the electronic toll collection market is expected to grow from USD 6.00 billion in 2016 to USD 10.57 billion by 2022, at a CAGR of 9.16% between 2017 and 2022. Electronic toll collection helps in efficiently managing the traffic at highly congested areas and also facilitates the tolling collection process by using the latest technological solutions, such as RFID, GPS/GNSS, DSRC, and video analytics. The government plays an important role in the growth of this market. Governments of different countries have a keen interest in formulating the standards and regulations for the electronic toll collection market.
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“Automatic number plate recognition (ANPR) type expected to dominate the electronic toll collection market between 2017 and 2022”
The use of ANPR decreases scams and frauds related to nonpayment, makes toll charging effective, and reduces the amount of manpower required for collecting tolls at tollbooths. This is expected to contribute to the largest share of ANPR type in the electronic toll collection market during the forecast period. Generally, ANPR is used in combination with the transponder system.
“Electronic toll collection market in APAC expected to grow at the highest CAGR during the forecast period”
This report covers regions such as North America, Europe, APAC, and RoW. The market in APAC is expected to grow at the highest rate between 2017 and 2022. This growth is attributed to the government initiatives and the growing population in this region, which raise the need for efficient transportation systems.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key experts. The breakup of the profiles of primary participants is given below:
• By Company Type: Tier 1—35%, Tier 2—40%, and Tier 3—25%
• By Designation: C Level—50%, Director Level—35%, and Others—15%
• By Region: North America—35%, Europe—22%, APAC—30%, and RoW—13%
The major players in the electronic toll collection market are 3M (US), Xerox Corporation (US), EFKON AG (Austria), Kapsch TrafficCom (Austria), Q-Free (Norway), and Cubic Transportation Systems, Inc. (US), among others.
Research Coverage:
This report segments the electronic toll collection market on the basis of product into AVI; AVC; and back office and integration, and VES. In terms of technology, the electronic toll collection market is segmented into RFID, DSRC, GPS/GNSS, and video analytics. On the basis of type, the electronic toll collection market is segmented into ETC and AET. Moreover, the electronic toll collection market is divided on the basis of application into highway and urban. The entire electronic toll collection market is classified on the basis of region into North America, Europe, APAC, and RoW.
Request to Fill The Form To get Sample Copy of This Report:
"The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market)."
Key Benefits of Buying the Report:
• This report includes the market statistics pertaining to type, technology, product, application, and region, along with their respective revenues.
• It also includes the value chain analysis to provide an insight into the electronic toll collection market.
• The major drivers, restraints, challenges, and opportunities for the electronic toll collection market have been detailed in this report.
• Illustrative segmentation, analysis, and forecast for the electronic toll collection market based on type, technology, product, application, and region have been conducted to provide an overall view of the electronic toll collection market.
• A detailed competitive landscape has been provided, which includes DIVE analysis, business strategy, product offerings, and key players and their revenues.
• The available customizations for the report offer further country-wise segmentation of the electronic toll collection market in terms of value; further breakdown of the industry could be provided, along with the profiling of additional companies in the report.
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
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