Market Leadership - Electronic Toll Collection Market
The electronic toll collection market is projected to reach USD 10.0 billion by 2025 from USD 6.9 billion in 2020; it is expected to grow at a CAGR of 7.7% from 2020 to 2025. The electronic toll collection market in APAC is projected to grow at the highest CAGR during the forecast period. The growth prospective of the electronic toll collection market in APAC is promising with a steady growth rate in the near future. The COVID—19 pandemic has affected the market in APAC, however, a steady recovery by 2021 is expected with the significant infrastructural investments and government support.
Kapsch TrafficCom (Austria), Conduent, Inc. (US), Efkon GmbH (Germany), TransCore (US), and Thales Group (France), Raytheon Technology Corporation (US), Cubic Corporation (US), Siemens AG (Germany), Neology Inc. (US), and Feig Electronics (Germany) are a few major players in the electronic toll collection market.
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Top 2 Players in Electronic Toll Collection Market:
Kapsch TrafficCom (Austria)
Kapsch is a supplier of information and communication technologies, solutions, and services for intelligent transport systems (ITS). ITS adopt this information and technologies to support and optimize road transportation, including infrastructure, vehicles, users, and industry. The company also offers ITS for several applications, including traffic safety and security, smart urban mobility, tolling, traffic management, and connected vehicles. The company operates through 2 segments: Electronic Toll Collection and Intelligent Mobility Solutions. The Electronic Toll Collection segment includes activities of installation, technical and commercial operations of toll collection systems. It consists of both individual road sections and nationwide road sections.
Conduent (US)
Conduent primarily operates through the following segments: Commercial Industries, Government Services, and Transportation. The Commercial Industries segment provides business process services and customized solutions including transaction processing, commercial healthcare, and learning services to clients from a variety of industries such as automotive, aerospace & defense, communications and media, healthcare, and technology. The Government Services segment offers government-centric business process services and subject matter experts to the US federal, state, local, and foreign governments. The Transportation segment provides systems and support, including fare collection, violation management, notification, mobility, and payment solutions, to transportation departments and agencies globally.
Related Reports:
Electronic Toll Collection Market with COVID-19 Impact Analysis by Technology (RFID, DSRC, ANPR/ALPR, and Satellite-Based), Offering (Hardware, and Back Office and Other Services), Application , Type, and Region - Global Forecast to 2025
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