Electronic Toll Collection Market size was valued at $6,855.5 million in 2017, and is projected to reach at $15,648.2 million by 2025, growing at a CAGR of 10.7% from 2018 to 2025. Electronic toll collection (ETC) system is a high-end technology, which is meant for automatic toll collection without requiring the driver to stop. It uses latest technological solutions, such as DSRC, GPS & GNSS toll collection and tracking solutions, and video analytics to efficiently manage traffic in highly congested areas, thereby easing the toll collection process.
A full report of Electronic Toll Collection Market is available at: https://www.orionmarketreports.com/electronic-toll-collection-market/33455/
Top Impacting Factors
Surge in demand for effective traffic management at toll collection center, increase in facilities of cashless travelling, high initial installation & operational cost of ETC, and increase in adoption of ETC in the developing regions are the significant factors that affect the growth of the global electronic toll collection market. These factors are anticipated to either drive or hamper the market growth.
Electronic Toll Collection Market Segments
By Subsystem
• Automated Vehicle Identification
• Automated Vehicle Classification
• Violation Enforcement System
• Transaction Processing
By Technology
• Radio-frequency Identification (RFID)
• Dedicated Short-range Communication (DSRC)
• Infrared
• GNSS & GPS
• Video Analytics
By Application
• Urban
• Highways
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