Electronic Toll Collection Market Trends and Opportunities, Forecast 2016 - 2024

-
A toll road, also known as a tollway or turnpike, is a private or public roadway for which a fee is accessed for passage. Frequently, these toll booths cause traffic delays during rush hours for the toll collection process. This is mainly due to manual operations, which are not only more prone to errors, they are also considerably slower than automated methods. This factor has given birth to electronic toll collection system, which swiftly eliminates the manual operations by toll payers and receivers. As several developed and developing economies across the world invest and adopt new technology, the reflection is quite apparent on the adoption of these electronic toll collection systems. Consequently, the global market for electronic toll collection is projected for a double digit growth rate during the forecast period of 2016 to 2024. 
This report on global electronic toll collection market is a thorough study with in-depth analysis of the factors that are expected to influence the growth rate, positively or negatively, and presents a figurative estimation of the future. One of the key feature of this report is the section on player profiles, wherein it analyses some of the top vendors for their product portfolio and margin, geographical presence, and strategies for future development. 
The global electronic toll collection market can be segmented on the basis of products, technology, application, and geography. By product, the market can be divided into cameras, communication systems, transponders, antennae, treadles, scanning devices, inductive loops, weigh-in-motion devices, film storage devices, and other devices. Some of the subsystems of electronic toll collection are automatic vehicle identification (AVI), automatic vehicle classification (AVC), back office and integration, and violation enforcement system (VES). By technology, the market can be divided into dedicated short-range communications (DSRC), radio-frequency identification (RFID), video analytics, global positioning system (GPS), and global navigation satellite system (GNSS). The report observes that DSRC and RFID are currently the most in-demand technologies while GPS and GNSS are anticipated to experience higher growth rate during the forecast period. By application, the market for electronic toll collection can be segmented into highway and urban bridges. 
Global Electronic Toll Collection Market: Trends and Opportunities
Need to save time is the primary driver for this market. However, the push by several governments for cashless travel facilities is further fueling the demand, especially in India which has a second maximum landscape of toll roads in the world and a vast number of commuters. The need to minimize congestion and fast toll transaction is another factor prompting the adoption. Conversely, factors such as high initial installation cost and the dependency on government approvals is expected to hinder the growth rate. However, the overall market for electronic toll collection is expected to continue demand to meet the requirement for an improved, safe, and secure infrastructure. 
Global Electronic Toll Collection Market: Region-wise Outlook
Geographically, the report studies the regional markets for electronic toll collection in North America, Europe, Asia Pacific, and rest of the world. Currently, the country-wide markets of U.S., Canada, and Mexico make North America the most lucrative region, though Asia Pacific is too primed for a strong growth rate, owing to increased demand from countries such as India, Singapore, Philippines, Hong Kong, and Malaysia. 

Comments

Post a Comment

Popular posts from this blog

Oil and Gas Terminal Automation Market: To Reflect Impressive Growth Rate By 2019 - 2027

-
  Global  Oil and Gas Terminal Automation Market : Overview A sturdy growth rate, compounded annually, will be recorded in the global oil and gas terminal market, states Transparency market Research (TMR), for the period of 2019 to 2027. It will be driven forward on to a high growth trajectory at the back of a number of growth factors. Some of these are low oil prices and growing demand for natural gas across a number of varied industry verticals. Demand for oil and gas will also be pushed up by growing population for its energy and fuel needs. This in turn will require more exploration, extraction, better storage and robust distribution. And, this again would lead to demand for oil and gas terminal automation. Therefore, the market will be rife with new opportunities of growth in this period. And, as per TMR, the players would do their best to make the most of these. Global Oil and Gas Terminal Automation Market: Competitive Landscape Global oil and gas terminal automation market is a
Read more

Military Land Vehicle Electronics Market: Latest Trends and Forecast Analysis up to 2019 - 2027

-
Global Military Land Vehicle Electronics Market – Introduction Military land vehicle electronics are used in military land vehicles to enable navigation, communication, and observation in the exchange of intra-vehicular or inter-vehicular information. They are used in the military to increase warfare capabilities in surveillance, intelligence, and reconnaissance missions. This is expected to enhance the demand for military land vehicle electronics across the world.  The growing trend of an open reference architecture system is augmented by an increasing need for military land vehicle electronics, which is turn is expected to fuel the market. Besides, armored fighting vehicles (AFVs) are equipped with networked information technology, so as to provide them with combat capabilities and optimal situational awareness. This in turn is expected to boost the military land vehicle electronics market over the forecast period. Key Drivers of the Military Land Vehicle Electronics Market
Read more

Impact Sensing Door Unlock System Market will Generate New Growth Opportunities By 2019 - 2027

-
  Impact Sensing Door Unlock System : Introduction The impact sensing door unlock system unlocks the door automatically without a key, it can be operated through a mobile application. The impact sensing door unlock system consists of sensors and an electronic control unit, wherein the sensors receive a signal from the wireless system and transmits that signal to the electronic control unit. The electronic control unit is wired to the central lock, which in turn unlocks or locks all the doors of the vehicle. Key Drivers of Impact Sensing Door Unlock System Market Rise in demand for safety and security features in a vehicle is estimated to boost the impact sensing door unlock system market. Every vehicle manufacturer is trying to boost the integration of advanced safety features, including center locking system with impact sensing door unlock system that is activated through a mobile application. This in turn is projected to fuel the demand for the impact sensing door unlock system. Incr
Read more