[Research Report] The electronic toll collection system market size is valued at US$ 5541.91 million in 2022 and is expected to reach US$ 14369.80 million by 2030. The Electronic Toll Collection System market is expected to record a CAGR of 12.6% from 2022 to 2030.
Analyst Perspective:
Over time, tolling systems have improved in intelligence and efficiency. In addition to eliminating the requirement for physical installations on roadways, smart toll collection systems view data as a resource and use it to improve the security and efficiency of cashless tolls. Since tolls can be used to finance both highway building and maintenance, toll collection is a crucial component of highway operations. Electronic toll collection, which uses a variety of detection and payment technologies to make collection effective and time-saving, has supplanted manual collection in a growing number of cases.
Electronic Toll Collection System Market Overview:
Toll collection at roads, tunnels, or expressways has proven to be an efficient solution for collecting fees and taxes, generating revenue for public-private partnered infrastructure projects or maintenance fees for the state and government agencies. The tolls collected are subsequently utilized for various public services such as maintenance of highways, tunnels, and bridges; financing the future expansion of projects; and managing congestion. In addition, the recent surge in the number of registered vehicles has witnessed a significant rise compared to the transportation infrastructure growth, which can result in congestion and generate the demand for electronic toll collection (ETC) systems. The significant increase in congestion has resulted in a demand for robust and efficient approaches to toll collection at gateways, which is driving the need for automated toll collection systems. The solution in the electronic toll collection system market constitutes a set of hardware equipment and software programs forming a cohesive unit that facilitates the automated toll collection process. The ETC system effectively identifies, classifies, and subsequently collects the transit transaction from prepaid user accounts as per system design. Further, the system provides enforcement for toll violators, vehicle registration, back-office support, congestion management, and intelligent transportation-related services, among other services.
The ETC system offers versatile benefits such as congestion management, minimizing traffic at toll plazas, reducing vehicular traffic at highways, and providing actionable insights into traffic patterns, apart from providing a seamless toll collection process. These benefits have increased the system's popularity among developed countries and fueled the system demand among emerging economies. Moreover, the long-term economic and safety benefits are expected to drive the market during the forecast period. The integration of advanced technology and subsequent improvement in the scope of application ETC system services are projected to have a profound influence on market growth in the coming years.
A solution in the electronic toll collection system market can reduce the chances of accidents by aiding traffic. This system helps in-vehicle devices pay tolls automatically and enhances operational efficiency, thereby elevating customer experiences and providing flexibility in transitioning to a new interoperability standard. Rapid urbanization, coupled with the rise in the adoption of smart transportation systems, will give the electronic toll collection system market a commendable boost during the forecast period.
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Electronic Toll Collection System Market: Strategic Insights
Market Size Value in US$ 5541.91 million in 2022 Market Size Value by US$ 14369.80 million by 2030 Growth rate CAGR of 12.6% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Electronic Toll Collection System Market: Strategic Insights
| Market Size Value in | US$ 5541.91 million in 2022 |
| Market Size Value by | US$ 14369.80 million by 2030 |
| Growth rate | CAGR of 12.6% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Electronic Toll Collection System Market Driver:
Government Focus on Transportation Infrastructure Drives Electronic Toll Collection System Market Growth
According to Worldometer, the world's population is rising at a pace of roughly 0.88% each year. The rise in the population globally has encouraged government bodies to invest in building efficient infrastructure to handle a growing population and sustain economic growth. The rising focus on rebuilding the aging infrastructure and the inclusion of smart solutions are key factors fueling the adoption of solutions in the electronic toll collection system market in the region. For instance, in June 2023, 107 transportation infrastructure projects were chosen by the European Commission to receive more than US$ 6.30 billion in EU subsidies from the Connecting Europe Facility (CEF). Also, the German government intends to increase road capacity to accommodate the anticipated growth in freight transportation. According to Informare, as of February 2023, Germany's road freight traffic is expected to grow by 34% by 2051, and the federal government of Germany aims to build new roads to accommodate this increase in traffic, stated the transportation minister.
In November 2021, Congress passed the Bipartisan Infrastructure Deal. Under this deal, the government invests in repairing and rebuilding America's roads and bridges, focusing on climate change mitigation, resilience, equity, as well as safety for all users. Also, the government invested US$ 110 billion to transform poor roads and highways in the country in the next five years. Moreover, according to a joint statement by the US President and Canada's Prime Minister, in March 2023, under the Canadian Critical Minerals Infrastructure Fund, ~US$ 1.09 billion (CAD 1.5 billion) will be invested to support clean energy and transportation infrastructure projects. As per the White House fact sheet in September 2022, the US President and Mexican President relaunched the US-Mexico High-Level Economic Dialogue (HLED) in 2021 to advance shared strategic economic and commercial priorities. The HLED provides a platform for the US and Mexico to leverage their solid economic connection to foster investment in building the transportation infrastructure of Mexico.
Thus, the government's focus on transport infrastructure has encouraged roadway construction, efficient digital adoption of solutions, and rebuilding the aging infrastructure. This leads to increased adoption of solutions in the electronic toll collection system market across the globe as it helps lower the risk of revenue leakage, reduce operating costs, and enhance the toll collection system by reducing traffic congestion.
Electronic Toll Collection System Market Segmental Analysis:
Based on the offering, the electronic toll collection system market is segmented into systems and services. The systems segment held the largest share of the electronic toll collection system market. The solutions in the electronic toll collection system market constitute hardware and software installed across different infrastructures over expressways, bridges, tunnels, onboard vehicles, and toll gateways. The hardware equipment includes lane hardware and toll station hardware. Lane hardware mainly consists of roadside antenna units, high-speed electric barriers, toll lane controllers, ETC lane signal lights, lane traffic lights, multifunction displays for toll collection, lane surveillance cameras, vehicle detectors, switches, computer networks, etc. Toll station hardware mainly contains switches, workstations, and ETC toll servers. ETC systems generally consist of hardware equipment such as transponders, antenna units, signal receivers, toll servers, optical sensors, in-road sensors, overhead cameras, roadside communication units, and tag readers. Two aspects of hardware equipment—one installed at the toll gateways and the other one onboard the vehicle—need to work cohesively for the ETC system to function efficiently. This equipment is responsible for gathering input data points for the software and algorithms to work upon to segregate relevant and nonrelevant data, followed by identification and transaction related to toll.
Based on the gathered data, the system can engage with necessary enforcement or alert the appropriate authority as per the system design. Also, the solutions provider ensures the availability of onboard vehicle tags at the local convenience store, registration of new user accounts, and related back-office support for the error-free functioning of the ETC system. The software helps with data acquisition and data communication. It also helps increase operational efficiencies for the toll collection system.
Electronic Toll Collection System Market Regional Analysis:
The North America Electronic Toll Collection System market size was valued at US$ 1956.36 million in 2022 and is projected to reach US$ 5417.54 million by 2030; it is expected to register a CAGR of 13.6% from 2022 to 2030. The North America electronic toll collection system market is segmented into the US, Canada, and Mexico. According to Assemblyman, in February 2019, E-ZPass—the country's leading ETC-based system—had over 35 million signal transponders that managed 21 million accounts for electronic toll collection across 17 states. Further, with the vision of becoming a preeminent toll collection program, the system is the largest interoperable network of ETC systems in the world. It generates a revenue of ~US$ 9.0 billion for the partnered agencies. Factors such as scalability, registration of new vehicles, and maintenance of the existing ETC systems are expected to be the major drivers for the US electronic toll collection market during the forecast period. Also, the use of analytics for reporting and gathering actionable insights into traffic patterns for efficient congestion management and traffic monitoring is expected to provide scope for innovative services that could be integrated through the solutions in the electronic toll collection system market, which could provide lucrative business opportunities for the market players—moreover, increasing smart city initiative gaining widespread adoption across the US. For instance, in 2021, Pikepass of Oklahoma Turnpike Authority became the first solution in the electronic toll collection system market in the US. The system can electronically debit the accounts of the registered car owners without the need to stop, resulting in low congestion near toll plazas.
Electronic Toll Collection System Market Key Player Analysis:
Conduent Business Services, LLC., EFKON GmbH, Kapsch TrafficCom AG, Thales, TOSHIBA CORPORATION, TransCore, FAAC S.p.A., MITSUBISHI HEAVY INDUSTRIES, LTD., SICE, and P Square Solutions are among the key players operating in the electronic toll collection system market.
Electronic Toll Collection Market Report Scope
Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the electronic toll collection system market. A few recent key electronic toll collection system market developments are listed below:
- In April 2023, Kapsch launched the automatic number plate recognition (ANPR) software update. This update automatically recognizes a license plate that is a number plate, depending on the application.
- In February 2022, Guatemalan highway operator SiVA announced the deployment of Thales' Peage Intelligent Transport Zero (PITZ) electronic toll collection system along the country's vital Palin-Escuintla toll road corridor.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Offering, Technology, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The electronic toll collection market is expected to reach US$ 14369.80 million by 2030.
North America is anticipated to grow with the highest CAGR over the forecast period.
The systems segment led the electronic toll collection market with a significant share in 2022 and it is also expected to grow with the highest CAGR.
Satellite-based GPS/GNSS systems is expected to drive the growth of the electronic toll collection market in the coming years.
The electronic toll collection market was estimated to be valued at US$ 5541.91 million in 2022 and is projected to reach US$ 14369.80 million by 2030; it is expected to grow at a CAGR of 12.6% during the forecast period.
Long-term economic and safety benefits, and increasing demand for interoperable electronic tolling systems, are driving factors of electronic toll collection market.
The key players holding majority shares in the electronic toll collection market include Kapsch TrafficCom AG, Mitsubishi Heavy Industries, LTD., Conduent Business Services, LLC., and TransCore.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Electronic Toll Collection Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in Value Chain
5. Electronic Toll Collection Market - Key Industry Dynamics
5.1 Electronic Toll Collection Market - Key Industry Dynamics
5.2 Market Drivers
5.2.1 Long-Term Economic and Safety Benefits
5.2.2 Increasing Demand for Interoperable Electronic Tolling Systems
5.2.3 Government Focus on Transportation Infrastructure
5.3 Market Restraints
5.3.1 Leakage and High CapEx and OpEx Costs
5.3.2 Lack of Standardization and Evaluation Metrics for ETC Systems
5.4 Market Opportunities
5.4.1 Surging Demand for Effective Traffic Management at Toll Plaza
5.4.2 Deployment of Blockchain Technology
5.5 Future Trends
5.5.1 Satellite-Based GPS/GNSS Systems
5.6 Impact of Drivers and Restraints:
6. Electronic Toll Collection Market - Global Market Analysis
6.1 Electronic Toll Collection Market Revenue (US$ Million), 2022 – 2030
6.2 Electronic Toll Collection Market Forecast and Analysis
7. Electronic Toll Collection Market Analysis - Offering
7.1 Systems
7.1.1 Overview
7.1.2 Systems Market, Revenue and Forecast to 2030 (US$ Million)
7.2 Services
7.2.1 Overview
7.2.2 Services Market, Revenue and Forecast to 2030 (US$ Million)
8. Electronic Toll Collection Market Analysis - Technology
8.1 RFID
8.1.1 Overview
8.1.2 RFID Market Revenue, and Forecast to 2030 (US$ Million)
8.2 DSRC
8.2.1 Overview
8.2.2 DSRC Market Revenue, and Forecast to 2030 (US$ Million)
8.3 ANPR
8.3.1 Overview
8.3.2 ANPR Market Revenue, and Forecast to 2030 (US$ Million)
8.4 GNSS
8.4.1 Overview
8.4.2 GNSS Market Revenue, and Forecast to 2030 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others Market Revenue, and Forecast to 2030 (US$ Million)
9. Electronic Toll Collection Market Analysis – Application
9.1 Highways
9.1.1 Overview
9.1.2 Highways Market Revenue, and Forecast to 2030 (US$ Million)
9.2 Urban Zones
9.2.1 Overview
9.2.2 Urban Zones Market Revenue, and Forecast to 2030 (US$ Million)
10. Electronic Toll Collection Market - Geographical Analysis
10.1 Overview
10.2 North America
10.2.1 North America Electronic Toll Collection Market Overview
10.2.2 North America Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.2.3 North America Electronic Toll Collection Market Breakdown by Offering
10.2.3.1 North America Electronic Toll Collection Market Revenue and Forecasts and Analysis - By Offering
10.2.4 North America Electronic Toll Collection Market Breakdown by Technology
10.2.4.1 North America Electronic Toll Collection Market Revenue and Forecasts and Analysis - Technology
10.2.5 North America Electronic Toll Collection Market Breakdown by Application
10.2.5.1 North America Electronic Toll Collection Market Revenue and Forecasts and Analysis - By Application
10.2.6 North America Electronic Toll Collection Market Revenue and Forecasts and Analysis - By Country
10.2.6.1 North America Electronic Toll Collection Market Revenue and Forecasts and Analysis - By Country
10.2.6.2 US Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.2.6.2.1 US Electronic Toll Collection Market Breakdown by Offering
10.2.6.2.2 US Electronic Toll Collection Market Breakdown by Technology
10.2.6.2.3 US Electronic Toll Collection Market Breakdown by Application
10.2.6.3 Canada Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.2.6.3.1 Canada Electronic Toll Collection Market Breakdown by Offering
10.2.6.3.2 Canada Electronic Toll Collection Market Breakdown by Technology
10.2.6.3.3 Canada Electronic Toll Collection Market Breakdown by Application
10.2.6.4 Mexico Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.2.6.4.1 Mexico Electronic Toll Collection Market Breakdown by Offering
10.2.6.4.2 Mexico Electronic Toll Collection Market Breakdown by Technology
10.2.6.4.3 Mexico Electronic Toll Collection Market Breakdown by Application
10.3 Europe
10.3.1 Europe Electronic Toll Collection Market Overview
10.3.2 Europe Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.3 Europe Electronic Toll Collection Market Breakdown by Offering
10.3.3.1 Europe Electronic Toll Collection Market Revenue and Forecasts and Analysis - By Offering
10.3.4 Europe Electronic Toll Collection Market Breakdown by Technology
10.3.4.1 Europe Electronic Toll Collection Market Revenue and Forecasts and Analysis - By Technology
10.3.5 Europe Electronic Toll Collection Market Breakdown by Application
10.3.5.1 Europe Electronic Toll Collection Market Revenue and Forecasts and Analysis - By Application
10.3.6 Europe Electronic Toll Collection Market Revenue and Forecasts and Analysis - By Country
10.3.6.1 Europe Electronic Toll Collection Market Revenue and Forecasts and Analysis - By Country
10.3.6.2 Germany Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.6.2.1 Germany Electronic Toll Collection Market Breakdown by Offering
10.3.6.2.2 Germany Electronic Toll Collection Market Breakdown by Technology
10.3.6.2.3 Germany Electronic Toll Collection Market Breakdown by Application
10.3.6.3 France Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.6.3.1 France Electronic Toll Collection Market Breakdown by Offering
10.3.6.3.2 France Electronic Toll Collection Market Breakdown by Technology
10.3.6.3.3 France Electronic Toll Collection Market Breakdown by Application
10.3.6.4 Italy Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.6.4.1 Italy Electronic Toll Collection Market Breakdown by Offering
10.3.6.4.2 Italy Electronic Toll Collection Market Breakdown by Technology
10.3.6.4.3 Italy Electronic Toll Collection Market Breakdown by Application
10.3.6.5 United Kingdom Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.6.5.1 United Kingdom Electronic Toll Collection Market Breakdown by Offering
10.3.6.5.2 United Kingdom Electronic Toll Collection Market Breakdown by Technology
10.3.6.5.3 United Kingdom Electronic Toll Collection Market Breakdown by Application
10.3.6.6 Russia Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.6.6.1 Russia Electronic Toll Collection Market Breakdown by Offering
10.3.6.6.2 Russia Electronic Toll Collection Market Breakdown by Technology
10.3.6.6.3 Russia Electronic Toll Collection Market Breakdown by Application
10.3.6.7 Rest of Europe Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.6.7.1 Rest of Europe Electronic Toll Collection Market Breakdown by Offering
10.3.6.7.2 Rest of Europe Electronic Toll Collection Market Breakdown by Technology
10.3.6.7.3 Rest of Europe Electronic Toll Collection Market Breakdown by Application
10.4 Asia Pacific
10.4.1 Asia Pacific Electronic Toll Collection Market Overview
10.4.2 Asia Pacific Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.4.3 Asia Pacific Electronic Toll Collection Market Breakdown by Offering
10.4.3.1 Asia Pacific Electronic Toll Collection Market Revenue and Forecasts and Analysis - By Offering
10.4.4 Asia Pacific Electronic Toll Collection Market Breakdown by Technology
10.4.4.1 Asia Pacific Electronic Toll Collection Market Revenue and Forecasts and Analysis - By Technology
10.4.5 Asia Pacific Electronic Toll Collection Market Breakdown by Application
10.4.5.1 Asia Pacific Electronic Toll Collection Market Revenue and Forecasts and Analysis - By Application
10.4.6 Asia Pacific Electronic Toll Collection Market Revenue and Forecasts and Analysis - By Country
10.4.6.1 Asia Pacific Electronic Toll Collection Market Revenue and Forecasts and Analysis - By Country
10.4.6.2 China Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.4.6.2.1 China Electronic Toll Collection Market Breakdown by Offering
10.4.6.2.2 China Electronic Toll Collection Market Breakdown by Technology
10.4.6.2.3 China Electronic Toll Collection Market Breakdown by Application
10.4.6.3 Japan Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.4.6.3.1 Japan Electronic Toll Collection Market Breakdown by Offering
10.4.6.3.2 Japan Electronic Toll Collection Market Breakdown by Technology
10.4.6.3.3 Japan Electronic Toll Collection Market Breakdown by Application
10.4.6.4 India Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.4.6.4.1 India Electronic Toll Collection Market Breakdown by Offering
10.4.6.4.2 India Electronic Toll Collection Market Breakdown by Technology
10.4.6.4.3 India Electronic Toll Collection Market Breakdown by Application
10.4.6.5 Australia Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.4.6.5.1 Australia Electronic Toll Collection Market Breakdown by Offering
10.4.6.5.2 Australia Electronic Toll Collection Market Breakdown by Technology
10.4.6.5.3 Australia Electronic Toll Collection Market Breakdown by Application
10.4.6.6 South Korea Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.4.6.6.1 South Korea Electronic Toll Collection Market Breakdown by Offering
10.4.6.6.2 South Korea Electronic Toll Collection Market Breakdown by Technology
10.4.6.6.3 South Korea Electronic Toll Collection Market Breakdown by Application
10.4.6.7 Rest of Asia Pacific Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.4.6.7.1 Rest of Asia Pacific Electronic Toll Collection Market Breakdown by Offering
10.4.6.7.2 Rest of Asia Pacific Electronic Toll Collection Market Breakdown by Technology
10.4.6.7.3 Rest of Asia Pacific Electronic Toll Collection Market Breakdown by Application
10.5 Middle East & Africa
10.5.1 Middle East & Africa Electronic Toll Collection Market Overview
10.5.2 Middle East & Africa Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.5.3 Middle East & Africa Electronic Toll Collection Market Breakdown by Offering
10.5.3.1 Middle East & Africa Electronic Toll Collection Market Revenue and Forecasts and Analysis - By Offering
10.5.4 Middle East & Africa Electronic Toll Collection Market Breakdown by Technology
10.5.4.1 Middle East & Africa Electronic Toll Collection Market Revenue and Forecasts and Analysis - By Technology
10.5.5 Middle East & Africa Electronic Toll Collection Market Breakdown by Application
10.5.5.1 Middle East & Africa Electronic Toll Collection Market Revenue and Forecasts and Analysis - By Application
10.5.6 Middle East & Africa Electronic Toll Collection Market Revenue and Forecasts and Analysis - By Country
10.5.6.1 Middle East & Africa Electronic Toll Collection Market Revenue and Forecasts and Analysis - By Country
10.5.6.2 Saudi Arabia Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.5.6.2.1 Saudi Arabia Electronic Toll Collection Market Breakdown by Offering
10.5.6.2.2 Saudi Arabia Electronic Toll Collection Market Breakdown by Technology
10.5.6.2.3 Saudi Arabia Electronic Toll Collection Market Breakdown by Application
10.5.6.3 UAE Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.5.6.3.1 UAE Electronic Toll Collection Market Breakdown by Offering
10.5.6.3.2 UAE Electronic Toll Collection Market Breakdown by Technology
10.5.6.3.3 UAE Electronic Toll Collection Market Breakdown by Application
10.5.6.4 South Africa Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.5.6.4.1 South Africa Electronic Toll Collection Market Breakdown by Offering
10.5.6.4.2 South Africa Electronic Toll Collection Market Breakdown by Technology
10.5.6.4.3 South Africa Electronic Toll Collection Market Breakdown by Application
10.5.6.5 Rest of MEA Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.5.6.5.1 Rest of MEA Electronic Toll Collection Market Breakdown by Offering
10.5.6.5.2 Rest of MEA Electronic Toll Collection Market Breakdown by Technology
10.5.6.5.3 Rest of MEA Electronic Toll Collection Market Breakdown by Application
10.6 South America
10.6.1 South America Electronic Toll Collection Market Overview
10.6.2 South America Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.6.3 South America Electronic Toll Collection Market Breakdown by Offering
10.6.3.1 South America Electronic Toll Collection Market Revenue and Forecasts and Analysis - By Offering
10.6.4 South America Electronic Toll Collection Market Breakdown by Technology
10.6.4.1 South America Electronic Toll Collection Market Revenue and Forecasts and Analysis - By Technology
10.6.5 South America Electronic Toll Collection Market Breakdown by Application
10.6.5.1 South America Electronic Toll Collection Market Revenue and Forecasts and Analysis - By Application
10.6.6 South America Electronic Toll Collection Market Revenue and Forecasts and Analysis - By Country
10.6.6.1 South America Electronic Toll Collection Market Revenue and Forecasts and Analysis - By Country
10.6.6.2 Brazil Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.6.6.2.1 Brazil Electronic Toll Collection Market Breakdown by Offering
10.6.6.2.2 Brazil Electronic Toll Collection Market Breakdown by Technology
10.6.6.2.3 Brazil Electronic Toll Collection Market Breakdown by Application
10.6.6.3 Argentina Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.6.6.3.1 Argentina Electronic Toll Collection Market Breakdown by Offering
10.6.6.3.2 Argentina Electronic Toll Collection Market Breakdown by Technology
10.6.6.3.3 Argentina Electronic Toll Collection Market Breakdown by Application
10.6.6.4 Rest of SAM Electronic Toll Collection Market Revenue and Forecasts to 2030 (US$ Mn)
10.6.6.4.1 Rest of SAM Electronic Toll Collection Market Breakdown by Offering
10.6.6.4.2 Rest of SAM Electronic Toll Collection Market Breakdown by Technology
10.6.6.4.3 Rest of SAM Electronic Toll Collection Market Breakdown by Application
11. Electronic Toll Collection Market – Impact of COVID-19 Pandemic
11.1 Pre & Post Covid-19 Impact
12. Competitive Landscape
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning & Concentration
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 New Product Development
13.4 Merger and Acquisition
14. Company Profiles
14.1 Conduent Inc
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Kapsch TrafficCom AG
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Mitsubishi Heavy Industries Machinery Systems Ltd
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Thales SA
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Toshiba Infrastructure Systems and Solutions Corp
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 TransCore LP
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Magnetic Autocontrol GmbH
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 The Revenue Markets Inc
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Sociedad Iberica de Construcciones Electricas SA
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 P Square Solutions LLC
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
14.11 Verra Mobility Corp
14.11.1 Key Facts
14.11.2 Business Description
14.11.3 Products and Services
14.11.4 Financial Overview
14.11.5 SWOT Analysis
14.11.6 Key Developments
14.12 Mitsubishi Heavy Industries Ltd
14.12.1 Key Facts
14.12.2 Business Description
14.12.3 Products and Services
14.12.4 Financial Overview
14.12.5 SWOT Analysis
14.12.6 Key Developments
14.13 Cubic Transportation Systems, Inc.
14.13.1 Key Facts
14.13.2 Business Description
14.13.3 Products and Services
14.13.4 Financial Overview
14.13.5 SWOT Analysis
14.13.6 Key Developments
14.14 Q-Free ASA
14.14.1 Key Facts
14.14.2 Business Description
14.14.3 Products and Services
14.14.4 Financial Overview
14.14.5 SWOT Analysis
14.14.6 Key Developments
15. Appendix
15.1 About the Insight Partners
15.2 Word Index
List of Tables
Table 1. Electronic Toll Collection Market Segmentation
Table 2. Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Million)
Table 3. Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Million) – Offering
Table 4. Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Million) - Technology
Table 5. Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Million) – Application
Table 6. North America Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 7. North America Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 8. North America Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 9. North America Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Country
Table 10. US Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 11. US Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 12. US Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 13. Canada Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 14. Canada Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 15. Canada Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 16. Mexico Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 17. Mexico Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 18. Mexico Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 19. Europe Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 20. Europe Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 21. Europe Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 22. Europe Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Country
Table 23. Germany Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 24. Germany Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 25. Germany Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 26. France Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 27. France Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 28. France Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 29. Italy Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 30. Italy Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 31. Italy Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 32. United Kingdom Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 33. United Kingdom Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 34. United Kingdom Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 35. Russia Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 36. Russia Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 37. Russia Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 38. Rest of Europe Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 39. Rest of Europe Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 40. Rest of Europe Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 41. Asia Pacific Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 42. Asia Pacific Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 43. Asia Pacific Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 44. Asia Pacific Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Country
Table 45. China Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 46. China Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 47. China Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 48. Japan Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 49. Japan Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 50. Japan Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 51. India Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 52. India Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 53. India Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 54. Australia Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 55. Australia Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 56. Australia Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 57. South Korea Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 58. South Korea Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 59. South Korea Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 60. Rest of Asia Pacific Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 61. Rest of Asia Pacific Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 62. Rest of Asia Pacific Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 63. Middle East & Africa Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 64. Middle East & Africa Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 65. Middle East & Africa Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 66. Middle East & Africa Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Country
Table 67. Saudi Arabia Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 68. Saudi Arabia Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 69. Saudi Arabia Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 70. UAE Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 71. UAE Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 72. UAE Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 73. South Africa Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 74. South Africa Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 75. South Africa Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 76. Rest of MEA Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 77. Rest of MEA Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 78. Rest of MEA Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 79. South America Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 80. South America Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 81. South America Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 82. South America Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Country
Table 83. Brazil Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 84. Brazil Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 85. Brazil Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 86. Argentina Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 87. Argentina Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 88. Argentina Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 89. Rest of SAM Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Offering
Table 90. Rest of SAM Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 91. Rest of SAM Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 92. Heat Map Analysis By Key Players
Table 93. List of Abbreviation
List of Figures
Figure 1. Electronic Toll Collection Market Segmentation, By Geography
Figure 2. PEST Analysis
Figure 3. Ecosystem: Electronic Toll Collection Market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Electronic Toll Collection Market Breakdown by Geography, 2022 and 2030 (%)
Figure 6. Electronic Toll Collection Market Revenue (US$ Million), 2022 – 2030
Figure 7. Electronic Toll Collection Market Share (%) – Offering, 2022 and 2030
Figure 8. Systems Market Revenue and Forecasts To 2030 (US$ Million)
Figure 9. Services Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10. Electronic Toll Collection Market Share (%) Technology, 2022 and 2030
Figure 11. RFID Market Revenue and Forecasts To 2030 (US$ Million)
Figure 12. DSRC Market Revenue and Forecasts To 2030 (US$ Million)
Figure 13. ANPR Market Revenue and Forecasts To 2030 (US$ Million)
Figure 14. GNSS Market Revenue and Forecasts To 2030 (US$ Million)
Figure 15. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 16. Electronic Toll Collection Market Share (%) Application, 2022 and 2030
Figure 17. Highways Market Revenue and Forecasts To 2030 (US$ Million)
Figure 18. Urban Zones Market Revenue and Forecasts To 2030 (US$ Million)
Figure 19. Electronic Toll Collection Market Breakdown by Region, 2022 and 2030 (%)
Figure 20. Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 21. Electronic Toll Collection Market Breakdown by Offering (2022 and 2030)
Figure 22. Electronic Toll Collection Market Breakdown by Technology (2022 and 2030)
Figure 23. Electronic Toll Collection Market Breakdown by Application (2022 and 2030)
Figure 24. Electronic Toll Collection Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 25. US Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 26. Canada Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 27. Mexico Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 28. Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 29. Electronic Toll Collection Market Breakdown by Offering (2022 and 2030)
Figure 30. Electronic Toll Collection Market Breakdown by Technology (2022 and 2030)
Figure 31. Electronic Toll Collection Market Breakdown by Application (2022 and 2030)
Figure 32. Electronic Toll Collection Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 33. Germany Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 34. France Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 35. Italy Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 36. United Kingdom Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 37. Russia Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 38. Rest of Europe Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 39. Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 40. Electronic Toll Collection Market Breakdown by Offering (2022 and 2030)
Figure 41. Electronic Toll Collection Market Breakdown by Technology (2022 and 2030)
Figure 42. Electronic Toll Collection Market Breakdown by Application (2022 and 2030)
Figure 43. Electronic Toll Collection Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 44. China Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 45. Japan Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 46. India Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 47. Australia Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 48. South Korea Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 49. Rest of Asia Pacific Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 50. Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 51. Electronic Toll Collection Market Breakdown by Offering (2022 and 2030)
Figure 52. Electronic Toll Collection Market Breakdown by Technology (2022 and 2030)
Figure 53. Electronic Toll Collection Market Breakdown by Application (2022 and 2030)
Figure 54. Electronic Toll Collection Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 55. Saudi Arabia Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 56. UAE Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 57. South Africa Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 58. Rest of MEA Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 59. Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 60. Electronic Toll Collection Market Breakdown by Offering (2022 and 2030)
Figure 61. Electronic Toll Collection Market Breakdown by Technology (2022 and 2030)
Figure 62. Electronic Toll Collection Market Breakdown by Application (2022 and 2030)
Figure 63. Electronic Toll Collection Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 64. Brazil Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 65. Argentina Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 66. Rest of SAM Electronic Toll Collection Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 67. Company Positioning & Concentration
The List of Companies - Electronic Toll Collection Market
- Conduent Inc
- Kapsch TrafficCom AG
- Thales SA
- Toshiba Infrastructure Systems and Solutions Corp
- TransCore LP, Magnetic Autocontrol GmbH
- The Revenue Markets Inc
- Sociedad Iberica de Construcciones Electricas SA
- P Square Solutions LLC
- Verra Mobility Corp
- Mitsubishi Heavy Industries Ltd.
- Cubic Transportation Systems, Inc.
- Q-Free ASA.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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