Global Electronic Toll Collection Market Trends

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Global Electronic Toll Collection Market Size, Share, and Trends Analysis Report Trends

  • Automotive
  • Upcoming Report
  • Oct 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60
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“Adoption of Smart Transportation Technologies”

One specific trend driving the growth of the electronic toll collection (ETC) market is the adoption of smart transportation technologies. Governments and transportation agencies are increasingly implementing advanced systems, such as Automatic Number Plate Recognition (ANPR) and Dedicated Short-Range Communication (DSRC), to enhance toll collection efficiency. For instance, in October 2021, AEye, Inc., a leading provider of high-performance LiDAR solutions, collaborated with Intetra to launch advanced electronic tolling automation at the Intelligent Transport System World Congress. By optimizing AEye’s 4Sight M LiDAR technology, the partnership achieved high-resolution detection capabilities for tolling areas. This technology allows for precise monitoring of vehicle types, speeds, traffic conditions, and weather, significantly enhancing the electronic toll collection process.

Frequently Asked Questions

The market is segmented based on Segmentation, By Payment Method (Prepaid, Hybrid, and Postpaid), Type (Transponder/Tag-Based and Others), Technology (Radio Frequency Identification (RFID), Dedicated Short Range Communication (DSRC), Global Navigation Satellite System (GNSS)/GPS, Video Analytics, Cell Phone Tolling, and Others), Offering (Hardware and Back Office and Other Services), Application (Highways and Urban Areas), Parameters of Toll Amount (Distance Based, Point Based, Time Based, and Perimeter Based) - Industry Trends and Forecast to 2031 .
The Global Electronic Toll Collection Market size was valued at USD 8.97 USD Billion in 2023.
The Global Electronic Toll Collection Market is projected to grow at a CAGR of 8.8% during the forecast period of 2024 to 2031.
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

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