According to Data Bridge Market Research new Market report, global electronic toll collection market will account to an estimated USD 7.14 billion in 2018 growing at a CAGR of 8.48% during the forecast period of 2018 to 2025.
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Electric toll collection or ETC is a technology which collects the toll from the vehicles automatically with the help of wireless technologies without any cash. Radio-frequency communication and optical scanning are the technologies which are used in the ETC. The main motive of the ETC is to reduce traffic and congestion in different toll collecting areas. In this, the bill is usually sent to the address registered on the number plate of the vehicle and driver has to pay that in the time provided.
Global electronic toll collection market is segmented on the basis of type, technology, offering, application, parameter of toll amount and geography.
By Type (Transponder/Tag-Based, Others), Technology (RFID, DSRC, Others), Offering (Hardware, Back Office & Other Services), Application (Highways, Urban Areas), Parameters of Toll Amount (Distance Based, Point Based, Time Based, Perimeter Based), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
Few of the major market competitors currently working in the electronic toll collection market are Kapsch TrafficCom AG, TransCore, Raytheon Company, Conduent Inc., Thales Group, Cubic Corporation, Vinci SA, Siemens AG, EFKON, Neology Inc., TOSHIBA CORPORATION, MITSUBISHI HEAVY INDUSTRIES LTD., Abertis, Quarterhill Inc., Perceptics LLC., Star Systems International, Electronic Transaction Consultants Corporation, ARH Inc., SICE, Autostrade per l’Italia, JENOPTIK AG, Far Eastern Electronic Toll Collection Co Ltd., Toll Collect GmbH, GeoToll, Indra Sistemas, Kistler Group, and American Traffic Solutions..
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