Toll Management Systems Market size is expected to reach US$ 23.44 Bn by , at a CAGR of 10.34% during the forecast period.
Toll Management Systems Market Overview:
The Toll Management Systems Market research provides a full competition picture, including market share and company profiles of the major players in the worldwide industry. The scope of the research covers a complete examination of the Toll Management Systems Market , as well as the causes for variances in the industry’s growth in different areas.
Dynamics:
The toll management system makes use of a variety of technologies, including RFID, DSRC, video analytics, and others, to allow toll plazas to collect tolls without the use of humans. The government’s strict rules designed to lessen traffic congestion, accidents, and air pollution are anticipated to increase demand for toll management systems. To automate the toll collection process, save time, use less fuel, and maintain traffic jams on the highway, governments of several nations have been installing electronic toll management systems in the existing toll booths.
Market Scope:
To locate and collect material appropriate for this study, this research study makes considerable use of secondary sources, directories, and databases such as annual reports, press releases, journals, corporate websites, and databases.
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Segmentation:
by Component
• Software
• Services
by Technology
• Video Analytics
• Radio-frequency Identification
• Infrared
• Dedicated Short-range Communication
• GNSS & GPS
by Application
• Highways
• Urban
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Key Players: The entire approach involves a review of the financial reports of the major market participants. Following the determination of the overall market size, the complete market was divided into many segments and sub-segments and checked with key industry professionals such as CEOs, VPs, directors, and marketing executives. The major players in the Toll Management Systems Market are
• Conduent LLC
• Siemens AG
• TransCore LP
• Cubic Transportation
• Perceptics LLC
• EFKON GmbH
• Transcore
• Indra
• Ascom
• Cubic
• T-Systems International
• GMV
• Rieter
• DENSO
• International Road Dynamics
• Neology
• Direct Debit
• Watchdata
Regional Analysis: The region portion of the Toll Management Systems Market study also includes individual market affecting elements and changes in legislation in the market that affect present and future market trends. Current and future trends are discussed in order to estimate the entire market potential and to highlight profitable trends in order to obtain a firmer footing. Geographic market assessment is based on the existing scenario and predicted developments.
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COVID-19 Impact Analysis on Toll Management Systems Market :
Following the outbreak of the pandemic, end-user sectors where Toll Management Systems Market are used had a fall in growth from January to May in a variety of countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a suspension in operations. This resulted in a major decrease in the revenues of firms operating in these industries and, as a consequence, in demand for Toll Management Systems Market manufacturers, influencing the growth of the Toll Management Systems Market in 2020. With lockdowns and a rising number of COVID-19 cases throughout the world, the demand for Toll Management Systems Market from end-user businesses has decreased significantly.
Key Questions answered in the Toll Management Systems Market Report are:
- Which are the major companies in the Toll Management Systems Market ?
- Which is the potential market for Toll Management Systems Market in terms of the region?
- What are the opportunities for new market entrants?
- What is expected to drive the growth of the market in the next seven years?
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