Global Electronic Toll Collection Market to 2025: Opportunities in the Need for Superior Video Analytics in Automatic Number Plate Recognition and Classification of Vehicles

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Nov 02, 2020, 09:45 ET

DUBLIN, Nov. 2, 2020 /PRNewswire/ -- The "Global Electronic Toll Collection Market 2020-2025 by Technology, Functionality, Component, Authentication, and End-user" report has been added to ResearchAndMarkets.com's offering.

The Global Electronic Toll Collection Market is estimated to be USD 7.23 Bn in 2020 and is expected to reach USD 10.48 Bn by 2025 growing at CAGR of 7.7%.

Growth of the market is attributed to rising demand for effective traffic management at toll collection center, increasing government initiatives to adopt electronic toll collection system, increasing cashless travelling, increased demand for minimizing traffic congestion and fuel consumption at toll stations.

The market is hampered due to high initial cost involved for installation of toll management system and high operating and maintenance costs. Technological developments such as GNSS and GPS technologies will create growth opportunities in the market.

A toll road is a private or public roadway for which a fee is charged while transporting. The toll booths cause traffic delays during rush hours for the toll collection process as the toll collection is a manual operation. Manual toll collections are not only prone to errors but are also considerably slower than automated methods.

This constraint has given birth to the electronic toll collection system, which eliminates the manual operations by toll payers and receivers. As several developed and developing countries across the world are investing and adopting new technologies, the adoption of these electronic toll collection systems is widely increasing.

Some of the companies covered in this report are Cubic Corporation, Kapsch TrafficCom, Conduent Business Services, LLC, EFKON GmbH, TransCore (US), Mitsubishi Heavy Industries, Ltd., Thales Group, Siemens, Toshiba etc.

Market Dynamics

Drivers

Strong Government Support to Accelerate Electronic Toll Collection
Increasing Cashless Travelling
Increasing Demand for Effective Traffic Management at Toll Collection Centre
Increasing Demand for Minimising Traffic Congestion and Fuel Consumption at Toll Stations

Restraints

Implementation Difficulties in Developing Countries
High Initial Cost for the Installation Along with Significant Operating & Maintenance Costs

Opportunities

Increasing Number of Public-Private Partnership Agreements in Transportation Sector
Technological Advancements Such as GNSS And GPS Technology
Need for Superior Video Analytics In Automatic Number Plate Recognition and Classification of Vehicles

Key Topics Covered:

1. Report Description

2. Research Methodology

3. Executive Summary

4. Market Overview
4.1 Introduction
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Trends

5. Market Analysis
5.1 Porter's Five Forces Analysis
5.2 Impact of COVID-19
5.3 Ansoff Matrix Analysis

6. Electronic Toll Collection Market, by Type
6.1 Transponder/Tag-Based Tolling System
6.2 Other Tolling System

7. Electronic Toll Collection Market, by Technology
7.1 Rfid
7.2 Dsrc
7.3 Other

8. Electronic Toll Collection Market, by Application
8.1 Highways
8.2 Urban Areas

9. Electronic Toll Collection Market, by Geography

10. Competitive Landscape
10.1 IGR Competitive Quadrants
10.2 Market Share Analysis
10.3 Competitive Scenario
10.3.1 Mergers & Acquisitions
10.3.2 Agreements, Collaborations, & Partnerships
10.3.3 New Product Launches & Enhancements
10.3.4 Investments & Fundings

11. Company Profiles
11.1 Kapsch Trafficcom
11.2 Conduent Business Services LLC
11.4 Efkon GmbH
11.5 Transcore (US)
11.6 Thales Group
11.7 Raytheon Technologies Corporation
11.8 Cubic Corporation
11.9 Siemens
11.10 Neology, Inc.
11.11 Vinci
11.12 Abertis
11.13 Mitsubishi Heavy Industries, Ltd.
11.14 Toshiba

For more information about this report visit https://www.researchandmarkets.com/r/rn9knc

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