Electronic Toll Collection Market Competitive Insights and Precise Outlook 2021Posted by Vedika on April 20th, 2021 The Global Electronic Toll Collection Market size is estimated to be USD 7.68 billion in 2019 and is predicted to reach USD 18.46 billion by 2030 with a CAGR of 8.3% from 2020-2030. Electronic Toll Collection is a system which is meant for the automatic toll collection without stopping at toll booth. This system automatically detects weather the vehicle is registered in the system or not and when the vehicle crosses the booth the notification is send to the owners account and collected. This helps in the reduction of vehicle congestions and also notifies the entry of non-registered vehicle in the city. Access Full Description of this report at:- https://www.nextmsc.com/report/electronic-toll-collection-market Top Companies: 3M, Transcore Holdings, Inc., Xerox Corporation, TrafficCom, TRMI Systems Integration, Sensor Dynamics, Toll Collect GmbH, Kapsch, Cubic Transportation Systems, Inc., Q-Free and others. The global electronic toll collection market share is analyzed on the basis of subsystem, technology, application and geography. On the basis of subsystem, the market is segmented into Automated Vehicle Identification, Automated Vehicle Classification, Violation Enforcement System, and Transaction Processing. On the basis of technology, the market is divided into Radio-frequency Identification (RFID), Dedicated Short-range Communication (DSRC), Infrared, GNSS & GPS, and Video Analytics. Based on application, the market is fragmented into urban and highways. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW. North America is expected to hold the major market share owing to the increased adoption of electronic toll collection system over the forecast period. Furthermore, increase in technological advancement and presence of developed infrastructure coupled with increase in traffic congestions is expected to drive the growth of electronic toll collection market. Asia Pacific is expected to show tremendous growth over the forecast period owing to the increase in cashless transaction with digitization and increase in smart cities. Furthermore, increase demand of less waiting time with increased government funding is further expected to support the growth of electronic toll collection market. About Next Move Strategy Consulting: Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics. We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses. For more insights, please visit, https://www.nextmsc.com Like it? Share it!More by this author |