WiseGuyRerports.com Presents “Global Electronic Toll Collection (ETC) Systems Market Professional Survey Report 2019” New Document to its Studies
PUNE, MAHARASTRA, INDIA, November 29, 2019 /EINPresswire.com/ —
The world economy has been witnessing a slowdown in growth recently, affecting countries all around the world. Several industries have suffered as a result and the Electronic Toll Collection system industry is no different. In spite of all the slowdown the industry has managed to keep its head above the water and is expected to witness optimistic growth over the next five to six years.
A toll tax is collected usually on multi-lane highways. Most roads or national highways are built with the money of state, local or national government raised in the form of taxes. A toll tax is a kind of tax levied on users for using the road. This allows the government to recover the money they have spent on building a particular road without putting additional burden on the general public. Once tolls are levied on the users of the road, those tolls have to be collected. There are three typical ways of collecting tolls the first one, of course, is manual toll tax collection, the second one is an automatic toll and the third one is the electronic toll collection system. While in most cases the first way is the most used way of collecting tolls, the popularity of electronic toll collection systems has recently been on the rise given its ease of handling, helping avoid huge queues in front of toll gates.
The electronic toll collection system is an automated toll collecting system where the vehicles are equipped with an automated radio transponder device. When the vehicles pass a roadside toll reader device, the radio signal triggers the transponder which in turn transmits back an identifying number which is meant to register the vehicle’s use of the road. An electronic payment system then charges the user the toll. That way the driver is saved the time of stopping at the toll and paying it manually, thus reducing traffic delays.
Kapsch Trafficom AG
Cubic Transportation Systems, Inc.
Conduent Business Services
The global market for Electronic Toll Collection System can be divided in terms of type and industry. Such segmentation is important in a better understanding of the market by the players and also helps in providing manufacturers a competitive landscape.
By type, the electronic toll collection system market can be divided into vehicle automatic understanding systems, short-range communication, global position finding, and satellite system.
By industry, the electronic toll collection system can be divided into the highway, urban and bridge.
There is a third segmentation in the electronic toll collection system based on direct sales and distributor.
North American countries such as the United States and Canada are expected to provide major growth opportunities for electronic toll collection system manufacturers. South American countries, with a focus on industrialization, are not going to be left far behind. Asian countries, such as Japan, China, and Korea along with India have the opportunity to offer growth given the onus on basic infrastructure. European countries such as Germany, UK, France, and Italy are not going to be left too far behind in the electronic toll collection system market.
In July 2019, the Indian transport ministry announced that they are planning to make an electronic toll collection system mandatory on all the national highways to avoid congestion on the toll plazas.
Table Of Content:
1 Market Overview
2 Global Market Competition by Manufacturers
3 Global Capacity, Production, Revenue (Value) by Region (2013-2018)
4 Global Supply (Production), Consumption, Export, Import by Region (2013-2018)
5 Global Production, Revenue (Value), Price Trend by Type
6 Global Market Analysis by Application
7 Global Manufacturers Profiles/Analysis
8 Manufacturing Cost Analysis
9 Industrial Chain, Sourcing Strategy and Downstream Buyers
10 Marketing Strategy Analysis, Distributors/Traders
11 Market Effect Factors Analysis
12 Global Market Forecast (2018-2025)
13 Research Findings and Conclusion
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Source: EIN Presswire