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Europe Automated Fare Collection System Market Forecasting Impressive Growth at a CAGR of Almost 11% between 2021 and 2028

Europe Automated Fare Collection System Market Forecasting Impressive Growth at a CAGR of Almost 11% between 2021 and 2028
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Research and Markets: Europe Automated Fare Collection System Market 2021-2028: Prominent Players Include Omron, Scheidt & Bachmann and Atos

Research and Markets: Europe Automated Fare Collection System Market 2021-2028: Prominent Players Include Omron, Scheidt & Bachmann and Atos
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Outlook on the Electronic Toll Collection Global Market to 2026 - by Technology, System, Subsystem, Offering, Toll Charging, Application and Region

Share this article Share this article ResearchAndMarkets.com s offering. The global electronic toll collection market reached a value of US$ 9.78 Billion in 2020. An electronic toll collection (ETC) system is an automated mechanism that utilizes sophisticated cameras and sensors to perform various functions at a toll booth. The ETC can capture images of the vehicle s registration plate and scan the transponders attached to vehicles to collect the correct toll automatically when the vehicle passes the toll booth. It utilizes various advanced solutions, such as video analytics, Dedicated Short-Range Communications (DSRC), Global Positioning System (GPS) and Global Navigation Satellite System (GNSS) for toll collection and vehicle tracking. This saves travel time of the travellers, offers cashless facility, minimizes congestion at the toll booths and quickens toll transactions.

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Electronic Toll Collection Market Trends, Upcoming Opportunity, Growth and Forecast 2021-2026 – KSU

17 According to new report by IMARC Group, titled “Electronic Toll Collection Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” The global electronic toll collection market reached a value of US$ 9.78 Billion in 2020. An electronic toll collection (ETC) system refers to an automated mechanism, which recognizes registered vehicles and performs electronic monetary transactions using automatic vehicle classification (AVC), violation enforcement system (VES) and automatic vehicle identification (AVI). Other than this, it also utilizes advanced technological solutions, such as video analytics, radio-frequency identification (RFID), dedicated short-range communications (DSRC), global navigation satellite system (GNSS) and global positioning system (GPS), to improve the speed and efficiency of traffic flow. Looking forward, IMARC Group expects the global electronic toll collection market to reach a value of US$ 17.23 Billion by 2026, exhibiti

United statesAsia pacificSchneider electricTransportation systems incThales groupTransurban limited ltdRaytheon companyConduent business servicesOther servicesPorter five forces analysisToll collection marketGlobal industry trendsMarket segmentationTag based toll collectionToll collectionToll charging