Portland, OR -- (SBWire) -- 10/06/2017 --Electronic toll collection is used to collect tolls on roads by electronic methods. This technology determines that the cars and other automobiles that pass through the toll are enrolled in the system. If not, it alerts the tax collectors that the respective cars are not enrolled in the system. The toll from the enrolled cars is automatically debited, thus avoiding the need for the car to stop at the collection counter.

The ease and luxury in the transit from one region to another are of prime importance for the consumers. As the car does not stop for toll payment, the collection is completed in no time and there is no traffic on the road, which majorly drives the growth of the Electronic Toll Collection Marke t. The use of this technology reduces the possibility of non-payment scam, which makes the toll booths collection effective. It also reduces the manpower required for the toll collection, which propels the market towards rapid growth. However, the difficulty in the commercialization of the technology and high cost of installation of the equipment restrains the market growth.

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Electronic Toll Collection Market Key Segmentation:

By Product

-Automatic Vehicle Identification (AVI)
-Automatic Vehicle Classification (AVC)
-Back Office and Integration
-Violation Enforcement System (VES)

By Technology

-Radio-frequency Identification (RFID)
-Dedicated Short-Range Communication (DSRC)
-Global Positioning System/Global Navigation Satellite System (GPS/GNSS)
-Video Analytics

By Application

-Highway tolling
-Urban tolling

By Geography

-North America
-Europe
-Asia-Pacific
-LAMEA

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Electronic Toll Collection Market Key Players:

-3M
-Xerox Corporation
-Conduent Business Services, LLC
-Q-Free ASA
-Cubic Transportation Systems, Inc.
-Siemens AG
-Thales Group
-Transurban Limited
-International Road Dynamics, Inc.
-Raytheon Company.