Electronic Toll Collection (ETC) Market Drivers, Restraints, Potential Growth Opportunities, Product Size, Application Estimation, Vendor Competitive Landscape, Trends 2027
Category: #business  By Rahul Varpe  Date: 2021-08-16
  • share
  • Twitter
  • Facebook
  • LinkedIn
Electronic Toll Collection (ETC) Market Drivers, Restraints, Potential Growth Opportunities, Product Size, Application Estimation, Vendor Competitive Landscape, Trends 2027

The electronic toll collection market is expected to witness substantial growth by 2027, registering a notable CAGR through the forecast period. Government agencies have been pushing the integration of electronic toll collection systems to establish a process that allows seamless toll collection and efficient traffic management, which are anticipated to facilitate market growth in the future.

Besides their advantages in traffic management and efficient congestion reduction, these systems also promise environmental benefits. Recent studies have found that deploying electronic toll collection systems could result in significantly lesser carbon dioxide and nitrogen oxide emissions than that observed with manual toll collection.

The electronic toll collection market has been segmented on the basis of technology, subsystems, payment method, application, and region. Based on technology, the market has been bifurcated further into RFID, GPS/GNSS, DSRC, video analytics, and others.

The DSRC sub-segment is projected to witness robust growth through the forecast period owing to increasing industry-wide adoption.

Request sample copy of this report @ https://www.decresearch.com/request-sample/detail/1615

Electronic toll collection systems are integrated with DSRC technology that uses microwave tags inside vehicles to identify vehicle passages from the tolled road. The increasing prominence of the technology in these systems will boost segmental adoption in the coming years.

In terms of subsystems, the automatic vehicle classification (AVC) sub-segment held a considerable market share in 2020. The integration of AVC in electronic toll collection systems allows toll operators to swiftly categorize the vehicle and apply charges accordingly. Speedy and accurate toll calculation offered by these systems is expected to improve product adoption over the assessment period.

Several industry players are working on developing more efficient and advanced AVC systems to get ahead of their competitors.

For instance, in March 2021, leading mobility solutions provider Q-Free introduced HI-TRAC® TMU4X, its high-speed weigh-in-motion (WIM) and multimodal classification solution for automatic vehicle classification (AVC). The product, which also offers pedestrian and cyclist data counts, is likely to be launched in Asia, North America, and the Gulf regions.

Such advancements in AVC technology are projected to foster product outlook and contribute significantly to market adoption in the forecast period.

Make Inquiry about this report @ https://www.decresearch.com/inquiry-before-buying/1615

Hybrid payment methods are expected to grow at a notable CAGR through the analysis period owing to increasing demand. This payment method provides cardholders the ability to pay from multiple accounts linked to a main account. The convenience of using hybrid payment methods would aid wider product adoption, thereby fueling market growth through the assessment period.

From the perspective of application, highways are projected to amass sizable revenue by 2027 due to the increasing importance of highways for travel sectors of both established and developing regions.

Rapid development of highways in emerging economies will drive the demand for electronic toll collection system on these roadways, which is anticipated to fuel market adoption in the coming years.

In the regional landscape, the Middle East & Africa market is expected to see substantial growth driven by the booming tourism industry in the region.

The flourishing travel & tourism industry in MEA is speculated to encourage investment in electronic toll collection systems to develop smart transportation infrastructure for tourists. This will propel product adoption and foster regional market growth through the assessment period.

Table of Contents

Chapter 1 Methodology & Scope

  • 1.1 Scope & definitions
  • 1.2 Methodology & forecast parameters
  • 1.3 COVID-19 impact
    • 1.3.1 North America
    • 1.3.2 Europe
    • 1.3.3 Asia Pacific
    • 1.3.4 Latin America
    • 1.3.5 MEA
  • 1.4 Data sources
    • 1.4.1 Secondary
    • 1.4.2 Primary

Chapter 2 Executive Summary

  • 2.1 Electronic Toll Collection (ETC) industry 360 degree synopsis, 2017 - 2027
    • 2.1.1 Business trends
    • 2.1.2 Regional trends
    • 2.1.3 Technology trends
    • 2.1.4 Type trends
    • 2.1.5 Payment method trends
    • 2.1.6 Application trends
  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

Read More >>

More News By Rahul Varpe

Industrial Fall Protection Equipment Market - Industry Growth Analysis & Forecast
Industrial Fall Protection Equipment Market - Industry Growth Analysis & Forecast
By Rahul Varpe

The industrial fall protection equipment market is set to experience momentous revenue growth over the coming years owing to the increasing level of focus on worker safety across a plethora of different industrial sectors. For several industrial empl...

Cranes Rental Market Global Industry Analysis, By System, Growth Potential, Share, Top Key Players, Trends & Forecast
Cranes Rental Market Global Industry Analysis, By System, Growth Potential, Share, Top Key Players, Trends & Forecast
By Rahul Varpe

With increasing investments towards infrastructure upgradation and development initiatives, the global crane rental market is forecast to record momentous gains over the coming years. Additionally, the increasing number of residential and commercial ...

Telehandler Market – Key Drivers, Industry Analysis & Forecast
Telehandler Market – Key Drivers, Industry Analysis & Forecast
By Rahul Varpe

The telehandler market is estimated to record substantial gains over the forthcoming time period owing to the Rising demand for technologically advanced systems across industrial, agriculture, construction & mining sectors. Telehandler is highly ...