NJ New Jersey, USA -- (SBWire) -- 01/02/2024 --Advance Market Analytics published a new research publication on "Electronic Toll Collection Market Insights, to 2028" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Electronic Toll Collection market was mainly driven by the increasing R&D spending across the world.
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Some of the key players profiled in the study are:
Conduent Business Services, Llc [United States], 3M [United States], Kapsch Trafficcom Ag [Austria], Cubic Transportation Systems, Inc. [United States], Siemens Ag [Germany], Thales Group [France], Sanef ITS [France], Transurban Limited [Australia], International Road Dynamics (Ird) [Canada], Raytheon Company [United States], Denso corporation [Japan].
Definition of the Report of Electronic Toll Collection
The Electronic Toll Collection (ETC) market encompasses the deployment and utilization of technology-driven systems designed to automate and streamline the process of toll collection on highways, bridges, and tunnels. ETC systems replace traditional manual toll collection methods with electronic and automated solutions, reducing congestion, enhancing traffic flow, and improving overall transportation efficiency. These systems typically utilize a combination of radio-frequency identification (RFID), dedicated short-range communication (DSRC), or other technologies to enable seamless transactions between vehicles and toll infrastructure. As vehicles equipped with ETC transponders approach toll booths or gantries, the system automatically deducts the toll amount from the associated user accounts, allowing for quick and efficient passage without the need for physical currency or manual toll collection. The Electronic Toll Collection market has gained prominence globally as transportation authorities and infrastructure operators seek to modernize toll collection processes, enhance revenue collection, and mitigate traffic delays.
The titled segments and sub-section of the market are illuminated below:
by Application (Highway, City, Community, Other), Sub-system (Automated Vehicle Identification (AVI), Automated Vehicle Classification (AVC), Violation Enforcement System, Transaction Processing), Technology (Radio Frequency Identification (RFID), Dedicated Short Range Communication (DSRC), Infrared, Global Navigation Satellite Systems (GNSS)/Global Positioning System (GPS), Video Analytics), Offering (Hardware, Back Office and Other Services)
Market Trends:
Growing Use of Advanced RFID (Radio-frequency Identification) and GSM Technology
Increasing Use of Video Analytics Toll Collection Technique
Opportunities:
Infrastructural Developments in Emerging Countries
Government Favorable Initiatives to Support ETC Systems and Stringent Regulation to Curb Vehicular Emission
Market Drivers:
Growing Need for the Safe and Efficient Traffic Management Amid Increasing Number of Vehicle Sales
Focus on Environmental Pollution Mitigation
Market Leaders and their expansionary development strategies:
As reported by global legal chronicle, Austria based Kapsch TrafficCom AG, a European Electronic Toll Service (EETS) provider company Axxès SAS are expected to launch a joint venture in the European HGV tolling sector.The aim is to offer a sustainable toll collection technology across Europe through this joint venture.
The government of India is willing to implement ETC system across the nation to allow commuters to pay tolls without any hassle. National Highway Authority of India (NHAI) is ready to bear 50 % of the cost in setting up the systems while rest would be borne by respective state governments. The move is being taken under National Electronic Toll Collection Program (NETCP) which is being run by Indian Highways Management Company Limited (IHMCL), a company promoted by NHAI. The government is planning to setup the services by March 2020 with chances of further extension. The country has over 500 states and 450 national highway toll plazas. Only 25 state toll plazas offer ETC services as of January 2019 and only 27% NHAI tolling is FASTags enabled.
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.
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Strategic Points Covered in Table of Content of Global Electronic Toll Collection Market:
Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Electronic Toll Collection market
Chapter 2: Exclusive Summary – the basic information of the Electronic Toll Collection Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Electronic Toll Collection
Chapter 4: Presenting the Electronic Toll Collection Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region/Country 2015-2020
Chapter 6: Evaluating the leading manufacturers of the Electronic Toll Collection market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions (2023-2028)
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source
finally, Electronic Toll Collection Market is a valuable source of guidance for individuals and companies.
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