The research reports on “Electronic Toll Collection Market” report gives detailed overview of factors that affect global business scope. Electronic Toll Collection Market report shows the latest market insights with upcoming trends and breakdowns of products and services. This report provides statistics on the market situation, size, regions and growth factors.
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The Electronic Toll Collection Market is projected to reach USD 10.0 Billion by 2025 from USD 6.9 Billion in 2020; it is expected to grow at a CAGR of 7.7% during the forecast period.
Top Companies Profiled in the Electronic Toll Collection Market:
- Kapsch TrafficCom (Austria)
- Conduent Inc. (US)
- Efkon GmbH (Germany)
- TransCore (US)
- Thales Group (France)
- Raytheon Technology Corporation (US)
- Cubic Corporation (US)
- Siemens AG (Germany)
- Neology Inc. (US)
- Feig Electronics (Germany)
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Trans Core (US), Q-Free (Norway), and Star Systems International (Hong Kong) are the major companies that offer transponders for electronic tolling systems. Trans Core (US) offers RFID transponders and readers, which are widely used in toll operations across the US.
The electronic toll collection market is significantly driven by its adoption mainly in developing countries. Government initiatives to promote faster payments of toll fees through a digital mode and decongest highways would generate immense growth opportunities for the ETC market. For instance, in December 2019, the National Highways Authority of India initiated electronic toll collection at national highways through FASTag, an RFID tag.