US Electronic Toll Collection Market Research Report Forecast to 2027

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the US electronic toll collection market has been growing rapidly from the past few decades and is expected to reach USD 3,286.7 million by 2027, at a CAGR of 7.3% during the forecast period 2021–2027.

Description

US Electronic Toll Collection Market Research Report Forecast to 2027

Market Overview

Electronic Toll Collection (ETC) is a system that allows customers to automatically pay tolls when passing through toll gates without stopping. ETC is a technology that enables vehicles to pay road tolls electronically. Electronic Toll collection is a concept that is being promptly accepted globally. Some tags are designed to communicate with other forms of roadside readers as well, creating interstate and intrastate toll payments accessible. Toll agencies are interested in developing these tags and readers because of modifying the tolling system. The system electronically debits the accounts of registered automobile owners or identifies the vehicle plate for later asking while not requiring vehicles to stop. ETC is else to any tolled facility through varied technologies such as a Universal Product Code label pasted to the vehicle, a proximity card, a frequency electrical device mounted within the vehicle, license plate recognition, and recently, via US Positioning Systems (GPS).
The various factors attributing to the growth of the US electronic toll collection market are the increasing demand for minimizing traffic congestion and fuel consumption at toll stations, increasing government initiative towards improved road safety and infrastructure, and the growing need for transparency in revenue performance. Furthermore, the need for superior video analytics in automatic number plate recognition and classification of vehicles is expected to present lucrative opportunities for the market players during the forecast period.
the US electronic toll collection market has been growing rapidly from the past few decades and is expected to reach USD 3,286.7 million by 2027, at a CAGR of 7.3% during the forecast period 2021–2027.

Market Segmentation

The US electronic toll collection market has been segmented based on technology, means of collection, and application. Based on technology, the electronic toll collection market is segmented into Automatic Vehicle Identification (AVI), Automated Vehicle Classification (AVC), Violation Enforcement System (VES), and Toll Transaction Processing System. The toll transaction processing system segment accounted for the largest share in the overall market. At the same time, the Violation Enforcement System (VES) segment is expected to grow at the highest CAGR during the forecast period. Based on means of collection, the market is segmented into prepaid and postpaid. The postpaid segment dominated the US market in 2020 and is expected to grow with a significant CAGR during the forecast period. Based on application, the market is segmented into roads, bridges, tunnels, ferries. The roads segment is dominating the market with the highest market size of USD 1,417.5 million.

Major Players

LLC (US), ETAN Industries (US), Conduent/Xerox (Conduent bought Xerox) (US), Kapsch Aktiengesellschaft (US), Cubic Corporation (US), E-Transit, Inc. (US), Transcore (US), TRMI (US), INEX (US), Global agility (US), A-to-Be USA LLC (US), Neology (US), and Geotoll (US).

COVID 19 Impacts

We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries.
Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.

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Table of Contents

TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 MARKET INTRODUCTION
2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE
3 RESEARCH METHODOLOGY
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 DRIVERS
4.2.1 RISING DEMAND FOR MINIMIZING TRAFFIC CONGESTION AND FUEL CONSUMPTION AT TOLL STATIONS
4.2.2 INCREASING GOVERNMENT INITIATIVES TOWARDS IMPROVING ROAD SAFETY AND INFRASTRUCTURE
4.2.3 GROWING NEED FOR TRANSPARENCY IN REVENUE PERFORMANCE
4.3 RESTRAINTS
4.3.1 ISSUES ASSOCIATED WITH DEPLOYMENT
4.4 OPPORTUNITIES
4.4.1 NEED FOR SUPERIOR VIDEO ANALYTICS IN AUTOMATIC NUMBER PLATE RECOGNITION AND CLASSIFICATION OF VEHICLES
4.5 CHALLENGES
4.5.1 ABSENCE OF COMMON TECHNOLOGICAL STANDARDS FOR VEHICLE RECOGNITION
4.6 IMPACT OF COVID-19
4.6.1 IMPACT ON ELECTRONIC TOLL COLLECTION SYSTEMS INDUSTRY
4.6.2 IMPACT ON SEMICONDUCTOR MANUFACTURERS
4.6.3 IMPACT OF SUPPLY CHAIN DELAYS
5 MARKET FACTOR ANALYSIS
5.1 SUPPLY/VALUE CHAIN ANALYSIS
5.1.1 HARDWARE & SOFTWARE PROVIDERS
5.1.2 SYSTEM INTEGRATORS/RESELLERS
5.1.3 END USERS
5.2 PORTER’S FIVE FORCES MODEL
5.2.1 THREAT OF NEW ENTRANTS
5.2.2 BARGAINING POWER OF SUPPLIERS
5.2.3 THREAT OF SUBSTITUTES
5.2.4 BARGAINING POWER OF BUYERS
5.2.5 INTENSITY OF RIVALRY
6 US ELECTRONIC TOLL COLLECTION MARKET, BY TECHNOLOGY
6.1 OVERVIEW
6.1.1 US ELECTRONIC TOLL COLLECTION MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION)
6.2 AUTOMATIC VEHICLE IDENTIFICATION (AVI)
6.3 AUTOMATED VEHICLE CLASSIFICATION (AVC)
6.4 VIOLATION ENFORCEMENT SYSTEM (VES)
6.5 TOLL TRANSACTION PROCESSING SYSTEM
7 US ELECTRONIC TOLL COLLECTION MARKET, BY MEANS OF COLLECTION
7.1 OVERVIEW
7.1.1 US ELECTRONIC TOLL COLLECTION MARKET, BY MEANS OF COLLECTION, 2019–2027 (USD MILLION)
7.2 PREPAID
7.3 POSTPAID
8 US ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION
8.1 OVERVIEW
8.1.1 US ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2019–2027 (USD MILLION)
8.2 ROADS
8.3 BRIDGES
8.4 TUNNELS
8.5 FERRIES
9 COMPETITIVE LANDSCAPE
9.1 COMPETITIVE BENCHMARKING
9.2 VENDOR SHARE ANALYSIS
9.3 RECENT DEVELOPMENTS
9.3.1 BUSINESS EXPANSION
9.3.2 PARTNERSHIPS/AGREEMENTS/CONTRACTS/COLLABORATIONS
9.3.3 ACQUISITIONS
10 COMPANY PROFILES
10.1 ELECTRONIC TRANSACTION CONSULTANTS, LLC
10.1.1 COMPANY OVERVIEW
10.1.2 FINANCIAL OVERVIEW
10.1.3 PRODUCTS OFFERED
10.1.4 KEY DEVELOPMENTS
10.1.5 SWOT ANALYSIS
10.1.6 KEY STRATEGIES
10.2 ETAN TOLLING TECHNOLOGY
10.2.1 COMPANY OVERVIEW
10.2.2 FINANCIAL OVERVIEW
10.2.3 PRODUCTS OFFERED
10.2.4 KEY DEVELOPMENTS
10.2.5 SWOT ANALYSIS
10.2.6 KEY STRATEGIES
10.3 CONDUENT INC.
10.3.1 COMPANY OVERVIEW
10.3.2 FINANCIAL OVERVIEW
10.3.3 PRODUCTS OFFERED
10.3.4 KEY DEVELOPMENTS
10.3.5 SWOT ANALYSIS
10.3.6 KEY STRATEGIES
10.4 KAPSCH TRAFFICCOM AG
10.4.1 COMPANY OVERVIEW
10.4.2 FINANCIAL OVERVIEW
10.4.3 PRODUCTS OFFERED
10.4.4 KEY DEVELOPMENTS
10.4.5 SWOT ANALYSIS
10.4.6 KEY STRATEGIES
10.5 CUBIC CORPORATION
10.5.1 COMPANY OVERVIEW
10.5.2 FINANCIAL OVERVIEW
10.5.3 PRODUCTS OFFERED
10.5.4 KEY DEVELOPMENTS
10.5.5 SWOT ANALYSIS
10.5.6 KEY STRATEGIES
10.6 E-TRANSIT INC.
10.6.1 COMPANY OVERVIEW
10.6.2 FINANCIAL OVERVIEW
10.6.3 PRODUCTS OFFERED
10.6.4 KEY DEVELOPMENTS
10.6.5 SWOT ANALYSIS
10.6.6 KEY STRATEGIES
10.7 TRANSCORE
10.7.1 COMPANY OVERVIEW
10.7.2 FINANCIAL OVERVIEW
10.7.3 PRODUCTS OFFERED
10.7.4 KEY DEVELOPMENTS
10.7.5 SWOT ANALYSIS
10.7.6 KEY STRATEGIES
10.8 THE REVENUE MARKETS, INC. (TRMI)
10.8.1 COMPANY OVERVIEW
10.8.2 FINANCIAL OVERVIEW
10.8.3 PRODUCTS OFFERED
10.8.4 KEY DEVELOPMENTS
10.8.5 SWOT ANALYSIS
10.8.6 KEY STRATEGIES
10.9 INEX TECHNOLOGIES
10.9.1 COMPANY OVERVIEW
10.9.2 FINANCIAL OVERVIEW
10.9.3 PRODUCTS OFFERED
10.9.4 KEY DEVELOPMENTS
10.9.5 SWOT ANALYSIS
10.9.6 KEY STRATEGIES
10.10 A-TO-BE
10.10.1 COMPANY OVERVIEW
10.10.2 FINANCIAL OVERVIEW
10.10.3 PRODUCTS OFFERED
10.10.4 KEY DEVELOPMENTS
10.10.5 SWOT ANALYSIS
10.10.6 KEY STRATEGIES
10.11 NEOLOGY INC.
10.11.1 COMPANY OVERVIEW
10.11.2 FINANCIAL OVERVIEW
10.11.3 PRODUCTS OFFERED
10.11.4 KEY DEVELOPMENTS
10.11.5 SWOT ANALYSIS
10.11.6 KEY STRATEGIES
10.12 GEOTOLL
10.12.1 COMPANY OVERVIEW
10.12.2 FINANCIAL OVERVIEW
10.12.3 PRODUCTS OFFERED
10.12.4 KEY DEVELOPMENTS
10.12.5 SWOT ANALYSIS
10.12.6 KEY STRATEGIES
10.13 GLOBAL AGILITY SOLUTIONS
10.13.1 COMPANY OVERVIEW
10.13.2 FINANCIAL OVERVIEW
10.13.3 PRODUCTS OFFERED
10.13.4 KEY DEVELOPMENTS
10.13.5 SWOT ANALYSIS
10.13.6 KEY STRATEGIES
10.14 YUNEX TRAFFIC
10.14.1 COMPANY OVERVIEW
10.14.2 FINANCIAL OVERVIEW
10.14.3 PRODUCTS OFFERED
10.14.4 KEY DEVELOPMENTS
10.14.5 SWOT ANALYSIS
10.14.6 KEY STRATEGIES

Companies Mentioned

LLC (US), ETAN Industries (US), Conduent/Xerox (Conduent bought Xerox) (US), Kapsch Aktiengesellschaft (US), Cubic Corporation (US), E-Transit, Inc. (US), Transcore (US), TRMI (US), INEX (US), Global agility (US), A-to-Be USA LLC (US), Neology (US), and Geotoll (US).

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