Electronic Toll Collection Systems Market: Future Opportunities, Demand Analysis and Outlook To 2027
According to a new market research study titled, "Electronic Toll Collection Systems Market To 2027 - Global Analysis and Forecasts by Offerings, and Technology Used". The global market accounted for US$ 5.2 billion in 2017 and is also estimated to reach US$ 9.1 billion by 2027 thereby registering a CAGR growth rate of 6.5% from 2019 to 2027.
The rising demand for interoperable electronic toll collection systems is anticipated to have a profound influence over the market growth. Further, the growing volume of freight transportation through road as well as the slow pace of infrastructure growth among developing economies is anticipated to drive the congestion across various toll centers and plazas in the coming years.
Subsequently, driving the demand for efficient toll collection to accommodate the surge in traffic volume increasing demand for electronic toll collection systems among emerging economies. Whereas among the developed region the market is primarily driven by service, and maintenance of existing electronic toll collection systems, as the government strive towards providing superior traveling experience for the travelers.
Company Profiles
• Conduent, Inc.
• Kapsch Group
• Mitsubishi Heavy Industries Machinery Systems, Ltd.
• Siemens Mobility GmbH
• Thales Group
• Continuum Electroproducts LLP
• EFKON GmbH
• Neology, Inc.
• QuaLiX Information System LLP
• SkyToll, a. s.