The assessment period is anticipated to see a CAGR of 10.5% for the worldwide electronic toll collecting market. The availability of efficient electronic solutions and the necessity for a reliable infrastructure are two major factors in the growth of the electronic toll collecting industry and improved CAGR.
The automated electronic toll collection system does away with manual toll payer and receiver actions. To address the soaring need for a better, safer, and more secure infrastructure, the ETC industry is anticipated to continue its rapid rise.
Strong government support for accelerating electronic toll collection; ETC as an efficient technological solution to minimise traffic congestion, accidents, and environmental pollution.
the Electronic Toll Collection (ETC) market is a rapidly growing market that provides a convenient and efficient method of payment for tolls on highways and bridges. ETC systems use advanced technologies such as Radio-Frequency Identification (RFID) and GPS to accurately charge drivers for their tolls, eliminating the need for drivers to carry cash or stop at toll booths.
There has been a significant increase in demand for ETC systems due to the rise in road traffic and the need for faster, more efficient methods of payment. ETC also helps reduce congestion at toll booths and improve overall traffic flow, leading to shorter wait times and reduced emissions from idling vehicles.
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The major players in the ETC market include
- Kapsch TrafficCom,
- TransCore,
- Fujitsu,
- Thales Group, and
- Sanef.
These companies offer a wide range of ETC solutions, including transponder-based systems, license plate recognition systems, and multi-lane free-flow systems.
In terms of geography, North America and Europe are currently the largest markets for ETC, with a significant presence in countries such as the United States, Canada, and Germany. However, the ETC market is rapidly expanding in other regions, such as Asia-Pacific and South America, due to increasing investments in transportation infrastructure and the adoption of new technologies.
Overall, the ETC market is expected to continue its strong growth in the coming years, driven by the increasing demand for more efficient and convenient methods of payment for tolls
What are the market segmentation projections for electronic toll collection?
Transponders have a great sales potential for vehicle identification in several countries, therefore spending on them can be raised. Since transponder-based tolling systems have reduced car emissions, governments will be more likely to pursue electronic toll collection initiatives.
Transponders, antennae, communication systems, treadles, inductive loops, scanning devices, weigh-in-motion devices, cameras, and film storage devices are some of the product categories that make up the market.
Automatic vehicle identification (AVI), automatic vehicle classification (AVC), back-office & integration, and violation enforcement system are just a few of the subsystems that make up an electronic toll collection system (VES). These subsystems are helpful for specific tasks like toll collecting transactions and vehicle classification using AVI and AVC, respectively.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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