Electronic Toll Collection Market Size, Share, Emerging Trends, Analysis and Forecasts 2018-2022

1. Electronic Toll Collection Market Size, Share, Emerging Trends, Analysis and Forecasts 2018-2022 “The growth of the electronic toll collection market is attributed to the increasing demand for electronic toll collection systems, driven by the need for providing efficient traffic management and improving toll collection accountability.” The Electronic Toll Collection Market is expected to be valued at USD 10.57 Billion by 2022, growing at a CAGR of 9.16% between 2017 and 2022. The growth of the electronic toll collection market is attributed to the increasing demand for electronic toll collection systems, driven by the need for providing efficient traffic management and improving toll collection accountability. The various types of electronic toll collection systems based on RFID, DSRC, and GPS technologies are being increasingly adopted on highways and in urban areas. Of all the major products, the back office and integration, and VES is expected to dominate the electronic toll collection market during the forecast period. The market for AVI product is expected to witness the highest growth from 2017 to 2022. AVI helps determine the identification or ownership of the vehicle so that the toll will be charged to the corresponding customer. Moreover, it finds applications in toll collection, vehicle management, traffic management, and safety and law enforcement. Most widely used AVI systems use RFID and plate recognition technologies. Among all the applications, highway held the largest share of the electronic toll collection market in 2016. The level of traffic congestion is more on highways, owing to which the adoption rate of electronic toll collection systems would be high. Moreover, the presence of a large number of highways with high traffic raises the need for better traffic management solutions. This, in turn, drives the growth of this market. The market for GPS/GNSS technology-based electronic toll collection systems in APAC is expected to grow at the highest CAGR between 2017 and 2022. The major reason driving the growth of this market is the increasing use of GPS in the automobile industry. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=224492059

2. The electronic toll collection market based on type comprises ETC and AET. The market for AET is expected to witness the highest growth between 2017 and 2022. This growth is attributed to the advantages offered by AET, such as congestion relief, operational savings, and improved environmental factors. Most of the government agencies and departments of transportation (DOTs) of various regions, such as Europe and North America, are significantly investing in AET projects. For instance, the European Electronic Toll Service (EETS) has provided a framework for the interoperability of electronic road toll systems in Europe. Many electronic toll collection systems have been converted into AET systems. “Automated vehicle identification (AVI) products expected to lead the electronic toll collection market during the forecast period” AVI is used for the identification of vehicles when they move through a particular monitoring point. AVI helps determine the identification or ownership of the vehicle so that the toll will be charged to the corresponding customer. It finds applications in toll collection, vehicle management, traffic management, and safety and law enforcement. Most widely used AVI systems use RFID and plate recognition technologies. Request Sample Copy of this Market Research @ https://www.marketsandmarkets.com/requestCustomization.asp?id=224492059 “Electronic toll collection market for video analytics technology expected to grow at the highest rate between 2017 and 2022” The electronic toll collection market for video analytics technology is expected to grow at the highest CAGR between 2017 and 2022. This is primarily due to the increasing cases of toll violations, which raise the need for an improved toll management solution. The video analytics technology helps identify and record violations and uses special cameras to take photographs of the violating vehicle’s license plate. “North America expected to hold the largest share of the electronic toll collection market by 2022” North America is expected to hold the largest share of the electronic toll collection market by 2022. The usage of four-wheelers and heavy vehicles is high in North America, which is the main reason for the requirement of an effective transportation system in the North American countries. The major players in the electronic toll collection market are 3M (US), Xerox Corporation (Conduent Business Services, LLC, US), EFKON AG (Austria), Kapsch TrafficCom (Austria), Q-Free (Norway), and Cubic Transportation Systems, Inc. (US), among others

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