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DUBLIN--(BUSINESS WIRE)--Oct 28, 2022--
The "Electronic Toll Collection (ETC) Systems Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The global electronic toll collection (ETC) systems market is projected to grow at a CAGR of 19.41% to reach the market size of US$10,386.709 million by 2027 from US$3,000.579 million in 2020.
ETC systems are considered the most complex and the latest methods for toll collection. This allows the vehicles to pass through a toll facility without stopping the driver. It helps in the smooth traffic flow, thereby contributing towards efficient traffic management as well. Hence the electronic toll collection systems are continuing to evolve owing to several benefits these systems offer in comparison to the other toll collection methods.
Furthermore, the growing electronic industry and the growing IT industry are propelling the growth of the global electronic toll collection systems market in the forecast period. In addition, the stringent government regulations regarding carbon emission and the increasing government expenditure on infrastructural development are the driving factors to anticipate the market demand for these systems. Moreover, the emerging trend toward all-electronic tolling systems in major developing countries is also expected as a market growth opportunity for vendors and manufacturers over the next five years.
However, the slow adoption of the latest technology and reluctance of end-users towards adopting these advanced toll collection systems is expected to restrain the market growth for electronic toll collection systems during the forecast period.
The electronic toll collection (ETC) systems market has been analyzed through the following segments:
By Component
By Technology
By Geography
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Electronic Toll Collection (ETC) Systems Market Analysis, by Component
6. Electronic Toll Collection (ETC) Systems Market Analysis, by Technology
7. Electronic Toll Collection (ETC) Systems Market Analysis, by Geography
8. Competitive Intelligence
9. Company Profiles
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/q3damn
View source version on businesswire.com:https://www.businesswire.com/news/home/20221028005333/en/
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SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 10/28/2022 09:54 AM/DISC: 10/28/2022 09:54 AM
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