San Francisco, California, Sept 10, 2018: A recent report added by TMR Research to their vast repository, titled, “Electronic Toll Collection Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” forecasts the market to bode well mainly due to rising number of vehicles and advancements occurring in highway transport system. The report serves as a prime insight to all candidates interested in the market.
With increasing dependency on vehicles for private as well as public transport, the demand for new vehicles has tremendously increased in the past few years. Thus, a rising need for managing toll collection on highways and other interstate and inter-country road mediums is majorly driving the global electronic toll collection market. A burgeoning requirement for fast toll collection and go-ahead signals given to vehicles while exiting toll booths is also causing the global electronic toll collection market to display a splendid growth.
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However, high costs needed to set up electronic toll collection systems could highly restrain the market’s growth. This is mainly because such expense systems might lead towards exorbitant toll rates, thus discouraging those having less disposable income to travel through particular roadways. Moreover, it might be difficult to set up such systems in remote and underdeveloped regions too. Nevertheless, several organizations are expected to introduce cheaper and highly efficient toll collection facilities in the near future. This is expected to reduce effects of most restraints affecting the global electronic toll collection market up to a certain extent.
This market depicts the presence of a highly fragmented and competitive vendor landscape due to presence of innumerable players. VaaaN, Cubic Transportation Systems, Inc., Kapsch TrafficCom, Toll Collect GmbH, 3M, EFKON AG, Schneider Electric SE, Far Eastern Electronic Toll Collection Co., Ltd., TransCore, Transurban Limited, Xerox Corporation, Q-Free, and Raytheon Company, are key companies operating in the global electronic toll collection market.
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