Electronic Toll Collection Market – Worldwide Overview
Electronic Toll Collection (ETC) System market, over the past few years is perceiving a rapid upsurge evolving extensively. Emergence of these systems has brought up the convenience of systematic, congestion free travel experience & a much reduced traveling time. Which, people are actually enjoying & appreciating increasingly demanding for these systems to be implemented at the toll collection centres for the highways, sea links & fly overs.
Besides, these systems are embedded with some unequally designed features such as Card payment (cashless travel facility), appropriate charging for the single/ return journey & most importantly some value added services like accident & emergency incidence aid/assistance. Besides implementation of ETCs ensure savings on transaction costs for government agencies as well as private road owners.
Technological advancements transpired in the field of ETC have introduced mobile apps for Tags collection which are further easing efforts people put in for down loading the toll payment receipts from their email account. With these app people can immediately get their receipt on their mobile. All these convince adding factors are supporting ETCs to garner more popularity & hence demand, uptake & market growth.
Acknowledging the increasing demand & growth the market is witnessing currently, Market Research Future (MRFR) has recently published a brilliant study report. In its report MRFR mentions that The global Electronic Toll Collection Market is set to achieve revenues worth USD 13,819 million while growing at a CAGR of 11.2% in the forecast period from 2017 to 2023.
For the convenience of the report and enhanced understanding; the market is segmented in to 6 key dynamics
· By Products: Comprises Automated Vehicle Identification (AVI) and Automated Vehicle Classification (AVC).
· By Types: All Electronic Tolling (AET), Electronic toll collection (ETC), Automatic number plate recognition (ANPR) & Transponders.
· By Technologies: Dedicated Short Range Communications (DSRC), Radio Frequency Identification (RFID), and Global Positioning System (GPS) among others.
· By Application: Highways & Urban
· By Modes of Toll Collection: Prepaid & Postpaid.
· By Regions: North America, Europe, APAC and Rest of the World.
Some of the key players in the market are 3M (U.S.), Xerox Corporation(U.S.), Q-Free (Norway), Cubic Transportation Systems, Inc. (U.S.), Siemens AG (Germany), Thales Group (France), Transurban Limited (Australia), International Road Dynamics, Inc. (Canada), Raytheon Company (U.S.), The Revenue Markets Inc. (U.S.), Schneider Electric SE (France), Toll Collect GmbH (Germany), Perceptics, LLC (U.S.), TransCore (U.S.), Far Eastern Electronic Toll Collection Co., Ltd. (Taiwan), and Xiamen Innov Information Technology Co., Ltd. (China); and software providers such as, VaaaN (India), TransCore, LP (U.S.), and GeoToll, Inc. (U.S.).
Detailed Regional Analysis
North America market for Electronic Toll Collection, holding the largest share is poised to dominate the global market during the forecast period. This growth is predominantly driven by the wide uptake & implementations of meticulous transportation systems in the region.
While Europe market is mainly driven by the awareness towards the advantages of these systems, especially among the countries such as Germany, France & Belgium which are rapidly changing & moving toward setting standards.
Asia-Pacific region, witnessing rapid expansion stage is emerging as the fastest growing market. Countries such as India, China, Japan, & Singapore will be at the front leading the regional market throughout the forecast period.
Get Complete Report @ https://www.marketresearchfuture.com/reports/electronic-toll-collection-market-4971
TABLE OF CONTENTS
List of Tables
1 Executive Summary
2 Scope of the Report$ 0.00
2.1 Market Definition 16
2.2 Scope Of The Study 16
2.2.1 Research Objectives 16
2.2.2 Assumption & Limitations 16
2.3 Market Structure 17
3 Market Research Methodology
3.1 Research Process 19
3.2 Secondary Research 19
3.3 Primary Research 20
3.4 Forecast Model 22
4 Market Landscape$ 950.0
4.1 Porters Five Forces Analysis 24
4.1.1 Threat Of New Entrants 24
4.1.2 Bargaining Power Of Suppliers 24
4.1.3 Bargaining Power Of Buyers 24
4.1.4 Threat Of Substitute 24
4.1.5 Rivalry 25
4.2 Value Chain/Supply Chain Of Global Electronic Toll Collection Market 25
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