Electronic toll collection Market By Application Type, By Industry Type, By Brand and major players 2018-2023

Electronic toll collection (ETC) systems use sophisticated cameras and sensors to capture an image of the vehicle’s registration plate and assign the correct toll. The factors driving the growth of the global electronic toll collection market include the need to save travel time, cashless travel facility, the need to stop/minimize traffic congestion, and fast toll transactions. The global electronic toll collection market is expected to continue growing to meet the surging demand for improved, safe, and secure infrastructure for fast, efficient, and cost-effective services. The rising demand for minimizing traffic congestion and fuel consumption at toll stations and increasing number of government initiatives for improved road safety and infrastructure are projected to fuel the growth of the global electronic toll collection market during the forecast period. However, the absence of common technological standards for the recognition of vehicles poses a challenge to market players.

In 2017, North America dominated the global market; the regional market was valued at USD 2,775.3 million and is expected to register a CAGR of 9.9% during the forecast period. However, the market in Asia-Pacific is expected to be the fastest-growing at the highest CAGR of 13.6% during the review period.

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The global electronic toll collection market has been segmented on the basis of type, technology, product, means of collection, application, and region. By type, the market is segmented into electronic toll collection (ETC), all electronic tolling (AET), automatic number plate recognition (ANPR), and others. Based on technology, the market is segmented into radio frequency identification (RFID), dedicated short range communications (DSRC), global positioning system (GPS), and others.By product, the market is segmented into automatic vehicle identification (AVI) and automated vehicle classification (AVC). By means of collection, the market is segmented into prepaid and postpaid. By application, the market is segmented into highways, urban, and rural.

Based on type, the electronic toll collection segment was the largest at a market value of 2731.2 million in 2017; it is projected to register a CAGR of 13.2% during the forecast period. By product, the automated vehicle identification segment accounted for the highest market value of 4467.3 million in 2017; the segment is projected to exhibit a CAGR of 11.8% during the review period. The radio frequency identification technology segment was the largest in 2017 with a market value of 2652.0 million; it is projected to exhibit a CAGR of 11.1% during the assessment period. On the basis of means of collection, the prepaid segment dominated the market in 2017 with a value of 4337.2 million in 2017; it is projected to exhibit a CAGR of 12.2% during the forecast period. Based on application, highways accounted for the largest market value of 5309.9 million in 2017 and is projected to grow at the CAGR of 12.0% during the forecast period.

Key Players
The key players in the global electronic toll collection market are Xerox Corporation (US), Cubic Corporation (US), Siemens AG (Germany), Thales SA (France), Quarterhill Inc. (Canada), Kapsch TrafficCom AG (Austria), Grenobloise dElectronique et dAutomatismes (GEA) SA (France), Conduent Inc. (US), Raytheon Co. (US), Q-Free ASA (Norway), and The Revenue Markets Inc. (US).

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Global Electronic Toll Collection Market Analysis & Forecast, from 2017 to 2023
• To provide a detailed analysis of the market structure along with a forecast of the various segments and sub-segments of the global electronic toll collection market
• To provide insights into factors affecting market growth
• To analyze the global electronic toll collection market based on Porter’s Five Forces analysis
• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries—North America, Europe, Asia, and the rest of the world
• To provide country-level analysis of the market with respect to the current market size and future prospects
• To provide country-level analysis of the market for segments on the basis of type, technology, product, means of collection, and application
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers & acquisitions, product developments, and research and developments in the global electronic toll collection market
Target Audience
• Technology Providers
• Research organizations
• Technology investors
• Venture capitalists
• Government organizations

Key Findings
• The global electronic toll collection market is expected to reach USD 13,819 million by 2023.
• Based on type, the electronic toll collection segment accounted for the largest market share with a value of USD 2731.2 million in 2017 and is projected to register a CAGR of 13.2% during the forecast period.
• Based on product,the automated vehicle identification segment accounted for the largest market size at a value of USD 4467.3 million in 2017 and is projected to register a CAGR of 11.8% during the forecast period.
• On the basis of technology, the radio frequency identification segment was the largest market valued at USD 2652.0 million in 2017 and is projected to exhibit a CAGR of 11.1% during the forecast period.
• By means of collection, the prepaid segment accounted for the largest market share with a value of USD 4337.2 million in 2017 and is projected to register a CAGR of 12.2% during the forecast period.
• Based on application, the highways segment was valued at USD 5309.9 million in 2017 and is expected to register a CAGR of 12.0% during the forecast period.
• North America is projected to be the largest regional market.
Regional and Country-Level Analysis of the Global Electronic Toll Collection Market, Estimation and Forecast
North America is expected to lead the global electronic toll collection market with a CAGR of 9.9% during the forecast period. Europe is projected to be the second-largest market exhibiting a CAGR of 11.1%. However, the market in Asia-Pacific is expected to be the fastest-growing at a 13.6% CAGR. The market in the rest of the world is projected to register a CAGR of 11.0% during the forecast period.
The report on the global electronic toll collection market also covers the

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following country-level analysis:
• North America
o US
o Canada
o Mexico
• Europe
o UK
o Germany
o France
o Spain
o Italy
o Rest of Europe
• Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
• Rest of the world

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