Global Electronic Toll Collection Market– Key Players, Size, Trends, Growth Opportunities, Analysis and Forecast To 2030
Electronic Toll Collection Market held USD 9331.8 million in 2020 and is to grow with a CAGR of 10.7% during forecast period.
Electronic
devices & semiconductors are critical technological enablers that power a
large number of today's cutting-edge digital gadgets. Mobile devices, communications
equipment, information technology, office automation (IT & OA), industrial
machinery, cars, and a variety of other end-use sectors all have computer
applications in some form or another, necessitating increased need for
semiconductors.Emerging technologies like as autonomous driving, artificial
intelligence (AI), 5G, and the Internet of Things, together with steady R&D
expenditure and rivalry among important companies, are expected to propel the
global semiconductor industry forwards far into the next decade.With the
Covid-19 epidemic driving increased demand for electronic gadgets, the world's
electronics and semiconductor industries predict a bright future.
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Market Dynamics and Factors:
The use of
safety-related electronics technologies in the automobile industry has
exploded. A spike in demand for different semiconductor devices in automobiles,
such as microcontrollers (MCUs), sensors, and memory, would help automotive
semiconductor providers. In the coming decade, more semiconductor content will
be added to automobile electronics and subsystems due to automation,
electrification, digital connection, and security. The major driver of
semiconductor growth in consumer electronics will be head-mounted displays.
Wearables devices and smart watches will also be new areas of growth. Other
consumer electronics markets, such as DVD and portable media players, will,
nevertheless, experience significant decreases. As a result, the total growth
in consumer electronics revenue will be modest.
Market Segmentation:
Based on
subsystem, the global electronic toll collection market is segmented into
automated vehicle identification, automated vehicle classification, violation
enforcement system, and transaction processing. Based on technology, the market
is categorized into radio-frequency identification, dedicated short-range
communication, infrared, GNSS & GPS, and video analytics. By the charging
toll amount, the market is further classified distance based, point based, time
based, and perimeter based. Based on application, the market is bifurcated into
urban and highways. Geographic breakdown and analysis of each of the aforesaid
segments includes regions comprising North America, Europe, Asia-Pacific, and
RoW.
Competitive Analysis:
Top players
profiled in Global Electronic Toll Collection Market research report are:
·
Thales SA
·
Kapsch TrafficCom AG
·
Toshiba Corporation
·
Conduent LLC
·
Raytheon
·
Siemens AG
·
Cubic Transportation
·
TransCore LP
·
Perceptics LLC
·
EFKON GmbH
·
Xerox Corporation
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Geographic Analysis:
On a regional
basis,North American consumer electronics industry is expected to develop
steadilybecause of the large number of internet users and the early adoption of
smart household electric equipment& IOT Technology. The presence of
important industry leaders like as Apple, Google, Amazon, and General Electric,
as well as significant expenditures in R&D operations by numerous market
participants, may be credited to the region's success.
The consumer
electronics sector in Europe has developed, and it is backed by a high-tech
connection environment. The trend of smart workplaces and smart homes is
increasing demand for consumer electronics goods such as smart TVs, smart
refrigerators, smart air conditioners, and more as technology advances.The Asia
Pacific area will continue to be the world's largest consumer of
semiconductors. The primary contributing component will be a growing share of
Chinese items, which is boosting the expansion of the whole Asia Pacific
market. Additional mergers and acquisitions will help the semiconductor
industry develop in the future.
MEA Electronics
& Semiconductor market will observe promising growth.Despite growing
pressure from low oil prices and rising global economic uncertainty, MEA's
retail sales activity continues to expand, according to the research. Solid
fundamentals, including as growing population and earnings, as well as a
continuous stream of tourists to the emirate, are credited with the emirate's
resiliency.
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