Covid-19 Impact on Electronic Toll Collection Market – Worldwide Overview
Electronic Toll Collection (ETC) System market, over the past few years is perceiving a rapid upsurge evolving extensively. Emergence of these systems has brought up the convenience of systematic, congestion free travel experience & a much reduced traveling time. Which, people are actually enjoying & appreciating increasingly demanding for these systems to be implemented at the toll collection centres for the highways, sea links & fly overs.
Besides, these systems are embedded with some unequally designed features such as Card payment (cashless travel facility), appropriate charging for the single/ return journey & most importantly some value added services like accident & emergency incidence aid/assistance. Besides implementation of ETCs ensure savings on transaction costs for government agencies as well as private road owners.
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Technological advancements transpired in the field of ETC have introduced mobile apps for Tags collection which are further easing efforts people put in for down loading the toll payment receipts from their email account. With these app people can immediately get their receipt on their mobile. All these convince adding factors are supporting ETCs to garner more popularity & hence demand, uptake & market growth.
Acknowledging the increasing demand & growth the market is witnessing currently, Market Research Future (MRFR) has recently published a brilliant study report. In its report MRFR mentions that The Covid-19 Impact on Electronic Toll Collection Market is set to achieve revenues worth USD 13,819 million while growing at a CAGR of 11.2% in the forecast period from 2017 to 2023.
Detailed Regional Analysis
North America market for Electronic Toll Collection, holding the largest share is poised to dominate the global market during the forecast period. This growth is predominantly driven by the wide uptake & implementations of meticulous transportation systems in the region.
While Europe market is mainly driven by the awareness towards the advantages of these systems, especially among the countries such as Germany, France & Belgium which are rapidly changing & moving toward setting standards.
Asia-Pacific region, witnessing rapid expansion stage is emerging as the fastest growing market. Countries such as India, China, Japan, & Singapore will be at the front leading the regional market throughout the forecast period.
Some of the key players in the market are 3M (U.S.), Xerox Corporation(U.S.), Q-Free (Norway), Cubic Transportation Systems, Inc. (U.S.), Siemens AG (Germany), Thales Group (France), Transurban Limited (Australia), International Road Dynamics, Inc. (Canada), Raytheon Company (U.S.), The Revenue Markets Inc. (U.S.), Schneider Electric SE (France), Toll Collect GmbH (Germany), Perceptics, LLC (U.S.), TransCore (U.S.), Far Eastern Electronic Toll Collection Co., Ltd. (Taiwan), and Xiamen Innov Information Technology Co., Ltd. (China); and software providers such as, VaaaN (India), TransCore, LP (U.S.), and GeoToll, Inc. (U.S.).
For the convenience of the report and enhanced understanding; the market is segmented in to 6 key dynamics
- By Products: Comprises Automated Vehicle Identification (AVI) and Automated Vehicle Classification (AVC).
- By Types: All Electronic Tolling (AET), Electronic toll collection (ETC), Automatic number plate recognition (ANPR) & Transponders.
- By Technologies: Dedicated Short Range Communications (DSRC), Radio Frequency Identification (RFID), and Global Positioning System (GPS) among others.
- By Application: Highways & Urban
- By Modes of Toll Collection: Prepaid & Postpaid.
- By Regions: North America, Europe, APAC and Rest of the World.
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TABLE OF CONTENTS
List of Tables
Table 1 Market Synopsis 14
Table 2 List Of Assumptions 16
Table 3 Global Electronic Toll Collection Market, By Type, 2017–2023 (Usd Million) 36
Table 4 Global Electronic Toll Collection Market, By Product, 2017–2023 (Usd Million) 39
Table 5 Global Electronic Toll Collection Market, By Technology, 2017–2023 (Usd Million) 42
Table 6 Global Electronic Toll Collection Market, By Means Of Collection, 2017–2023 (Usd Million) 44
Table 7 Global Electronic Toll Collection Market, By Application, 2017–2023 (Usd Million) 47
Table 8 Global Electronic Toll Collection Market, By Region, 2017–2023 (Usd Million) 49
Table 9 North America: Electronic Toll Collection Market, By Country, 2017–2023 (Usd Million) 50
Table 10 North America: Electronic Toll Collection Market, By Type, 2018-2023 (Usd Million) 51
Table 11 North America: Electronic Toll Collection Market, By Product, 2017–2023 (Usd Million) 51
Table 12 North America: Electronic Toll Collection Market, By Technology, 2017–2023 (Usd Million) 52
Table 13 North America: Electronic Toll Collection Market, By Means Of Collection, 2017–2023 (Usd Million) 53
Table 14 North America: Electronic Toll Collection Market, By Application, 2017–2023 (Usd Million) 53
Table 15 Us: Electronic Toll Collection Market, By Type, 2018-2023 (Usd Million) 54
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