Global Electronic Toll Collection Market is Expected to Register a Healthy CAGR in the Forecast Period of 2019 to 2026

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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Global Electronic Toll Collection Market

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.

Segmentation: Global Electronic Toll Collection Market

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)

Recent Developments

  • In April 2018, TransCore announced the introduction regarding the publication of specific protocols and standards known as “Super eGo (SeGo)” for the simplification and increased ease in adoption of transponders and multi-protocol readers.
  • In April 2016, Kapsch TrafficCom AG announced that they had completed the acquisition of Schneider Electric’s Transportation Business. This acquisition is expected to expand Kapsch’s smart transportation system and service portfolios for the various regions.

Key Market Competitors: Global Electronic Toll Collection Market

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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