Global Electronic Toll Collection (ETC) Systems Market 2019: Size, Share, Analysis, Regional Outlook and Forecast-2025
WiseGuyRerports.com Presents “Global Electronic Toll Collection (ETC) Systems Market Professional Survey Report 2019” New Document to its Studies Database
Pune, India – October 24, 2019 /MarketersMedia/ —
Electronic toll collection (ETC) systems are used to collect tolls electronically. With electronic toll systems installed on roads and highways, the time taken to collect tolls decreases and the commuters do not have to face any delays. With electronic toll systems, the vehicles can pass easily and do not have to wait for a long time in lines. This leads to ease of traffic flow on the roads. For the systems to work effectively, users have to register with the electronic toll collection system. When the cars that are registered pass the toll booths, they are not stopped and are allowed to pass by. On the other hand, for the cars that have not been registered for this program, alerts are sounded and they are not allowed to pass without collecting tolls from them manually.
The global electronic toll system market in 2018 was estimated at USD 7.1 Billion. In the coming years, the market is expected to record a Common Annual Growth Rate (CAGR) of 8.54%. By 2023, the market is expected to record revenue of USD 10.7 Billion. The market will witness an incremental growth over the next few years. The benefits of these systems are driving the growth of this market. These systems save travel time, reduce traffic congestion, offer cashless travel facilities and also allow for faster toll transactions.
The electronic toll collection systems are fast replacing manual collection booths. These offer a great alternative to manual toll collection. Electronic toll systems market is bound to witness expansion owing to the feasibility of these systems. These systems also help to reduce environmental pollution and maintain highway lanes easily during rush hours.
Key Players:
Xerox
3M
Kapsch Trafficom AG
Q-Free
Cubic Transportation Systems, Inc.
Telematics
Siemens
Thales Group
Transcore
Hitachi
MHI
TRMI
Illinoistollway
Metro Infrasys
Conduent Business Services
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Market Segmentation
The global electronic toll collection systems market can be segmented on the basis of applications. These systems are used on highways, bridges, and urban localities. Of these the contribution of the highway segment is the maximum owing to the high traffic rates across highways. Installation of these systems in urban areas and bridges will also increase in the coming years. On the basis of their type, the electronic toll collection systems are Automatic Vehicle Identification, Automatic Vehicle Classification, Short Range Communication and Global Positioning Systems. The global positioning systems are bound to witness a high growth rate in the coming years.
There are many key players in the global market for these systems. The main ones include Honeywell International Inc., Transcore Holdings, Connect East, 3M, SAIC, DENSO, Q-Free, Mitsubishi, Transtoll Pvt. Ltd. and Sensor Dynamics. All of these companies are making efforts to provide better quality and more efficient systems. The companies are also coming up with systems that can improve the toll collection services.
Regional Analysis
The global market for Electronic Toll Collection (ETC) Systems gets its contribution from North America, Latin America, the Asia-Pacific, Japan, Europe, the Middle-East and Africa. North America is projected to be the market with maximum growth rate because of developed road infrastructure and increasing traffic congestion. In Asia Pacific region, the market for electronic toll collection systems will witness a boom because of increasing traffic and increased demand of these systems to manage traffic problems.
Industry News
The global Electronic Toll Collection (ETC) Systems market is expected to witness a rapid growth. These systems are easy to operate and install and offer fast, efficient and cost-effective services. These benefit not only the commuters but also traffic agencies and toll collection agencies.
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Table Of Content:
1 Market Overview
2 Global Market Competition by Manufacturers
3 Global Capacity, Production, Revenue (Value) by Region (2013-2018)
4 Global Supply (Production), Consumption, Export, Import by Region (2013-2018)
5 Global Production, Revenue (Value), Price Trend by Type
6 Global Market Analysis by Application
7 Global Manufacturers Profiles/Analysis
8 Manufacturing Cost Analysis
9 Industrial Chain, Sourcing Strategy and Downstream Buyers
10 Marketing Strategy Analysis, Distributors/Traders
11 Market Effect Factors Analysis
12 Global Market Forecast (2018-2025)
13 Research Findings and Conclusion
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