Press release
Electronic Toll Collection System Market: Global Industry Analysis, Size, Share, Growth, Trends And Forecast -2030
The Electronic Toll Collection System Market size is expected to reach US$ 14.36 billion by 2030 from 5.54 billion in 2022, at an estimated CAGR of 12.6% from 2022 to 2030.
The North American Electronic Toll Collection System market is segmented into the US, Canada, and Mexico. The US is estimated to hold the largest Electronic Toll Collection System market share during the forecast period. The electronic toll collection system market in North America is segmented into the US, Canada, and Mexico. The US is one of the first countries to integrate solutions in electronic toll collection system market and boasts a significant network of electronic toll collection system (ETC) based systems across various tunnels, bridges, toll gateways, and expressways. Moreover, a collaborative effort of various inter-state agencies facilitated the implementation of an efficient ETC system across the region in the past decade. The significant freight transportation by road in the US compared to Canada and Mexico has also greatly influenced the adoption of ETC-based systems in the region.
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Analysis of the Top Market Players:
1. Conduent Inc
2. Kapsch TrafficCom AG
3. Thales SA
4. Toshiba Infrastructure Systems and Solutions Corp
5. TransCore LP, Magnetic Autocontrol GmbH
6. The Revenue Markets Inc
7. Sociedad Iberica de Construcciones Electricas SA
8. P Square Solutions LLC
9. Verra Mobility Corp
10. Mitsubishi Heavy Industries Ltd.
11. Cubic Transportation Systems, Inc.
12. Q-Free ASA.
In this report, the market has been segmented on the basis of:
Offering
• Systems
• Services
Technology
• RFID
• DSRC
• ANPR
• GNSS
Application
• Highways
• Urban Zones
Access full Report Description, TOC, Table of Figure, Chart, etc. @: https://www.premiummarketinsights.com/reports-tip/electronic-toll-collection-market
According to the intelligent transportation systems joint program office, in September 2019, in Florida, all-ETC systems and hybrid toll plazas that support open road tolling experienced 73 to 45% fewer crashes than traditional toll plazas, respectively. An increasing number of government initiatives to achieve congestion-free transportation, rising vehicle demand and production in North America, and growing adoption of the latest technological solutions-such as GPS and GNSS toll collection and tracking solutions. Further, in June 2022, TransCore was awarded a contract by the Thousand Islands Bridge Authority to develop, construct, and maintain next-generation toll collection systems. Its international bridge connected Wellesley Island with Hill Island in New York. TransCore replaced the previous technology used by TIBA. Thus, such instances are driving the North America electronic toll collection market.
The North American Free Trade Agreement (NAFTA) has ensured transportation and free trade within the US, Canada, and Mexico. The consistent maintenance and connectivity through roads have also raised the demand for robust toll collection across Mexico and Canada. Moreover, owing to the growing infrastructure demand and surge in the number of registered vehicles in the country, the demand for the ETC system will rise to handle road congestion efficiently. According to the Bureau of Transportation Statistics, the US total vehicle production, including passenger cars and commercial vehicles, increased from 8.8 million units in 2020 to 9.1 million units in 2021. The total domestic sales in the US, including passenger cars and commercial vehicles, increased from 11.5 million units in 2020 to 11.8 million units in 2021. Also, the trend of shifting from barrier-based ETC to open road tolling (ORT) or free-flow tolling has been increasingly growing in the road tolling industry, especially in North America, as the countries in the region are facing high traffic congestion at toll roads.
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Contact Us:
If you have any queries about this report or if you would like further information, please
Contact Person: Ankit Mathur
Phone: +1-646-491-9876
Email: sales@premiummarketinsights.com
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Premium Market Insights has an extensive coverage of industry reports, company reports and country reports across all industries. In case your research needs are not met by syndicated reports offered by leading publishers, we can help you by offering a customized research solution by liaising with different research agencies saving your valuable time and money.
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The North American Electronic Toll Collection System market is segmented into the US, Canada, and Mexico. The US is estimated to hold the largest Electronic Toll Collection System market share during the forecast period. The electronic toll collection system market in North America is segmented into the US, Canada, and Mexico. The US is one of the first countries to integrate solutions in electronic toll collection system market and boasts a significant network of electronic toll collection system (ETC) based systems across various tunnels, bridges, toll gateways, and expressways. Moreover, a collaborative effort of various inter-state agencies facilitated the implementation of an efficient ETC system across the region in the past decade. The significant freight transportation by road in the US compared to Canada and Mexico has also greatly influenced the adoption of ETC-based systems in the region.
Get Exclusive Sample PDF @: https://www.premiummarketinsights.com/sample/TIP00083393?utm_source=OpenPr&utm_medium=10640
Analysis of the Top Market Players:
1. Conduent Inc
2. Kapsch TrafficCom AG
3. Thales SA
4. Toshiba Infrastructure Systems and Solutions Corp
5. TransCore LP, Magnetic Autocontrol GmbH
6. The Revenue Markets Inc
7. Sociedad Iberica de Construcciones Electricas SA
8. P Square Solutions LLC
9. Verra Mobility Corp
10. Mitsubishi Heavy Industries Ltd.
11. Cubic Transportation Systems, Inc.
12. Q-Free ASA.
In this report, the market has been segmented on the basis of:
Offering
• Systems
• Services
Technology
• RFID
• DSRC
• ANPR
• GNSS
Application
• Highways
• Urban Zones
Access full Report Description, TOC, Table of Figure, Chart, etc. @: https://www.premiummarketinsights.com/reports-tip/electronic-toll-collection-market
According to the intelligent transportation systems joint program office, in September 2019, in Florida, all-ETC systems and hybrid toll plazas that support open road tolling experienced 73 to 45% fewer crashes than traditional toll plazas, respectively. An increasing number of government initiatives to achieve congestion-free transportation, rising vehicle demand and production in North America, and growing adoption of the latest technological solutions-such as GPS and GNSS toll collection and tracking solutions. Further, in June 2022, TransCore was awarded a contract by the Thousand Islands Bridge Authority to develop, construct, and maintain next-generation toll collection systems. Its international bridge connected Wellesley Island with Hill Island in New York. TransCore replaced the previous technology used by TIBA. Thus, such instances are driving the North America electronic toll collection market.
The North American Free Trade Agreement (NAFTA) has ensured transportation and free trade within the US, Canada, and Mexico. The consistent maintenance and connectivity through roads have also raised the demand for robust toll collection across Mexico and Canada. Moreover, owing to the growing infrastructure demand and surge in the number of registered vehicles in the country, the demand for the ETC system will rise to handle road congestion efficiently. According to the Bureau of Transportation Statistics, the US total vehicle production, including passenger cars and commercial vehicles, increased from 8.8 million units in 2020 to 9.1 million units in 2021. The total domestic sales in the US, including passenger cars and commercial vehicles, increased from 11.5 million units in 2020 to 11.8 million units in 2021. Also, the trend of shifting from barrier-based ETC to open road tolling (ORT) or free-flow tolling has been increasingly growing in the road tolling industry, especially in North America, as the countries in the region are facing high traffic congestion at toll roads.
Order a copy of this research report at @: https://www.premiummarketinsights.com/buy/TIP00083393?utm_source=OpenPr&utm_medium=10640
Contact Us:
If you have any queries about this report or if you would like further information, please
Contact Person: Ankit Mathur
Phone: +1-646-491-9876
Email: sales@premiummarketinsights.com
About Us:
Premium Market Insights is a one stop shop of market research reports and solutions to various companies across the globe. We help our clients in their decision support system by helping them choose most relevant and cost-effective research reports and solutions from various publishers.
The market research industry has changed in last decade. As corporate focus has shifted to niche markets and emerging countries, a number of publishers have stepped in to fulfil these information needs. We have experienced and trained staff that helps you navigate different options and lets you choose best research solution at most effective cost.
Premium Market Insights has an extensive coverage of industry reports, company reports and country reports across all industries. In case your research needs are not met by syndicated reports offered by leading publishers, we can help you by offering a customized research solution by liaising with different research agencies saving your valuable time and money.
We provide best in class customer service and our customer support team is always available to help you on your research queries. Our commitment to customer service is best exemplified by free analyst support that we offer to our clients which sets us apart from any other provider. We also offer enterprise subscriptions which provide significant cost savings to our clients.
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