Advance Electronic Toll Collection System Market (2017)

The electronic toll collection market is expected to grow at a CAGR of 9.16% from 2017 to 2022, to reach USD 10.57 Billion by 2022. The base year used for study is 2016 and the forecast period is between 2017 and 2022.

(EMAILWIRE.COM, April 21, 2017 ) The electronic toll collection market for video analytics technology is expected to grow at the highest CAGR between 2017 and 2022. This is primarily due to the increasing cases of toll violations, which raise the need for an improved toll management solution. The video analytics technology helps identify and record violations and uses special cameras to take photographs of the violating vehicle’s license plate.

♦For PDF Brochure @http://www.marketsandmarkets.com/pdfdownload.asp?id=224492059

North America is expected to hold the largest share of the electronic toll collection market by 2022. The usage of four-wheelers and heavy vehicles is high in North America, which is the main reason for the requirement of an effective transportation system in the North American countries.

The major players in the electronic toll collection market are 3M (US), Xerox Corporation (Conduent Business Services, LLC, US), EFKON AG (Austria), Kapsch TrafficCom (Austria), Q-Free (Norway), and Cubic Transportation Systems, Inc. (US), among others.

Automated vehicle identification (AVI) is used for the identification of vehicles when they move through a particular monitoring point. AVI helps determine the identification or ownership of the vehicle so that the toll will be charged to the corresponding customer. It finds applications in toll collection, vehicle management, traffic management, and safety and law enforcement. Most widely used AVI systems use RFID and plate recognition technologies.

Among all the applications, highway held the largest share of the electronic toll collection market in 2016. The level of traffic congestion is more on highways, owing to which the adoption rate of electronic toll collection systems would be high.

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.