Data Bridge Market Research conducted a recent market intelligence study, thoroughly analysing the U.S. Electronic Toll Collection Market. The newly published report employs an appealing layout that presents essential data using visually engaging tables, graphs, charts, and figures.
The U.S. Electronic Toll Collection market research report embodies a structured, comprehensive study delving into various facets of marketing. It rigorously defines the market by examining the drivers propelling its growth and the restraints impeding its progress. Offering current and precise insights into consumer demands, preferences, and product inclinations, the report ensures confidentiality of respondents and refrains from any promotional influence in its market analysis.
This global report on U.S. Electronic Toll Collection spans diverse market elements, encompassing estimations, forecasts, entry strategies, opportunity assessments, competitive and product landscapes, market positioning, and viability studies. It keenly identifies and analyzes emerging product trends, pivotal drivers, challenges, and opportunities. Delving deeply into the market's potential amidst the current landscape and future prospects, it considers various industry aspects. Moreover, the U.S. Electronic Toll Collection market report furnishes essential CAGR fluctuations during the forecast period, aiding in investment and cost estimations.
U.S. electronic toll collection market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with the CAGR of 9.9% in the forecast period of 2021 to 2028 and expected to reach USD 4,278.50 million by 2028. Increasing growth in digitalization and use of cashless payments has boosted the market. Electronic tags that incorporate RFID technology are being used widely as these tags deduct the amount from the account linked.
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Electronic toll collection uses vehicle-to-toll plaza communication technologies that allow electronic payment of toll. The system enables monetary transaction between a vehicle passing through a toll plaza and the toll collection agency. Electronic toll collection is replacing the manual toll collection and making the passage of vehicles much faster thus reducing traffic congestion and enabling smooth flow of traffic. Electronic toll collection can work on several principals such as incorporating GPS systems or by attaching tag to the car. The GPS system tracks the distance travelled by the vehicles and deducts the amount as per the distance. The tag based system incorporates placing of tags on the vehicle through which the toll amount can be deducted at the toll plaza where receivers or antennas are placed. All these systems reduce the transit time and make the transaction cashless.
Key Growth Drivers:
The major factors driving the growth of the U.S. electronic toll collection market are raising investments in building road infrastructure and electronic toll collection and high benefits offered by electronic toll collection. Technical complications associated with electronic toll collection are the major restraint for the U.S. electronic toll collection market.
This electronic toll collection market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographical expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
The report outlines the involvement of key players, including:
Some of the major players operating in the U.S. electronic toll collection market are Cubic Corporation, The Revenue Markets Inc., GeoToll, Raytheon Company (a subsidiary of Raytheon Technologies Corporation), Thales Group, Siemens, MITSUBISHI HEAVY INDUSTRIES MACHINERY SYSTEMS, LTD. (a subsidiary of MITSUBISHI HEAVY INDUSTRIES, LTD.), Toshiba Infrastructure Systems & Solutions Corporation, International Road Dynamics Inc. (a subsidiary of Quarterhill Inc.), Perceptics, LLC among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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Key Market Segmentation
By Offering (Hardware, Software, Service), Solution (Automated Vehicle Identification (AVI), Automated Vehicle Classification (AVC), Transaction Management, Violation Enforcement System, Others), Technology (Dedicated Short Range Communication (DSRC), GNSS/GPS, Infrared, Radio-Frequency Identification (RFID), Video Analytics), Toll Type (Distance-Based, Point-Based, Time-Based, Perimeter-Based), End Use (Highway, Urban Mobility & Transportation)
For instance,
- In March 2016, MITSUBISHI HEAVY INDUSTRIES MACHINERY SYSTEMS, LTD. (a subsidiary of MITSUBISHI HEAVY INDUSTRIES, LTD.) was awarded with a contract of USD 556.00 million for Electronic Road Pricing (ERP) system project by Land Transport Authority of Singapore. The company provided with its intelligent transport systems and Electronic Road Pricing (ERP) system for the infrastructure. The new contract increased the geographical presence of the company.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for electronic toll collection market through expanded product range.
TABLE OF CONTENTS
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Market Landscape
Part 05: Pipeline Analysis
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation
Part 09: Customer Landscape
Part 10: Regional Landscape
Part 11: Decision Framework
Part 12: Drivers And Challenges
Part 13: Market Trends
Part 14: Vendor Landscape
Part 15: Vendor Analysis
Part 16: Appendix
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