Lucintel: The electronic toll collection market is expected to grow at a CAGR of 9% by 2024

DALLAS, TX / ACCESSWIRE / December 8, 2020 / According to a market report by Lucintel, the future of the electronic toll collection market looks promising with opportunities in the highway and urban applications. The electronic toll collection market is expected to grow with a CAGR of 9% from 2019 to 2024. The major growth drivers for this market are effective solutions for traffic congestion, increasing allocation of funds by various governments to reduced environmental pollution, and cashless travel facility.

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In this market, tag-based and others systems are used for toll collection. Radio-frequency Identification (RFID), dedicated short-range communication (DSRC), global positioning system/global navigation satellite system (GPS/GNSS), and video analytics are the major technology types of this market. Within the electronic toll collection market, highway and urban are the major applications.

Raytheon, Xerox Corporation (Conduent Business Services), Efkon, Kapsch Trafficcom, Q- Free, Toshiba Corporation, Siemens, Thales Group, Transurban Limited, International Road Dynamics are among the major suppliers of electronic toll collection.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the electronic toll collection market by system type, application, technology, and region. Lucintel has prepared a comprehensive research report titled "Electronic Toll Collection Market 2019-2024: Trends, Forecast, and Opportunity Analysis." This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the electronic toll collection market by system type, technology, application, and region as follows:

By System Type [$M shipment analysis for 2013 - 2024]:

• Tag-Based Toll Collection Systems
• Other Toll Collection Systems

By Technology [$M shipment analysis for 2013 - 2024]:

• Radio-frequency Identification (RFID)
• Dedicated Short-Range Communication (DSRC)
• Global Positioning System/Global Navigation Satellite System (GPS/GNSS)
• Video Analytics

By Application [$M shipment analysis for 2013 - 2024]:

• Highway
• Urban

By Region [$M shipment analysis for 2013 - 2024]:

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
• Rest of the World

This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at [phone] or click on this link [e-mail].

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

CONTACT:
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: [e-mail]
Tel. [phone]
Cell: 303.775.0751

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SOURCE: Lucintel

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