“Electronic Toll Collection (ETC) market worth $5.3 billion in 2019” says Visiongain report
16 January 2019
Visiongain’s new report Electronic Toll Collection (ETC) Market Report : Forecast & Outlook By Subsystem (Automated Vehicle Identification (AVI), Automated Vehicle Classification (AVC), Violation Enforcement System (VES), Transaction Processing) By Technology (Radio-Frequency Identification (RFID), Dedicated Short Range Communication (DSRC), Infrared, GNSS/GPS, Video Analytics) By Application (Urban, Highway) & By Region Plus Analysis of Leading Companies indicates that the global Electronic Toll Collection (ETC) market will each $5.3 billion in spending in 2019.
The lead analyst of the report said: "The adoption of Electronic Toll Collection (ETC) is expected to increase significantly in the coming years owing to increasing need for safe and efficient traffic management, and environmental pollution mitigation. Also, infrastructural developments in developing countries will generate opportunities for ETC market players. The Asia Pacific accounts for one of the largest road networks across the world. Countries such as India provide great opportunity for ETC expansion as large number of toll lanes are still manually operated. NHAI is rolling out a plan to make the Indian expressway ETC enabled by 2018 end, which gives great opportunities for ETC service providers. However, the high installation cost of ETC systems may hamper the electronic toll collection market.
In the coming years, market players are focusing on integration of artificial intelligence into traffic management and toll collection. For example, in 2018, Conduent, introduced its technology and innovation hub in the greater Raleigh area. This hub focuses on digital interactions using machine learning, artificial intelligence, and others. The technological advancement in Electronic Toll Collection (ETC) systems will reduce the cost gap between smart toll and manual toll collection, increasing the adoption of Electronic Toll Collection (ETC) systems."
The 169 page report contains 162 tables, charts and graphs that add visual analysis in order to explain developing trends within the Electronic Toll Collection (ETC) market. Visiongain provides sales revenue forecasts for the period 2019-2029 for the various subsystems. The report offers market forecast and analysis for 4 regions and 14 leading national markets and the rest of the world market. In addition, the report contains a dedicated leading companies’ chapter covering more than 10 companies leading the field in the Electronic Toll Collection (ETC) market.
The Electronic Toll Collection (ETC) Market Report 2019-2029 report will be of value to anyone who wants to better understand the Electronic Toll Collection (ETC) market and its various segments. It will be useful for businesses who wish to better comprehend the part of the market they are already involved in, or those wishing to enter or expand into a different regional or technical part of the Electronic Toll Collection (ETC) industry.
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