Electronic Toll Collection Market by Applicaton, Technology, and Geography - Forecast and Analysis - 2023-2027

Published: Dec 2022 Pages: 156 SKU: IRTNTR74777

Electronic Toll Collection Market Forecast 2023-2027 

The electronic toll collection market is estimated to increase by USD 6.64 billion and grow at a CAGR of 10.55% between 2022 and 2027. Market expansion relies on several factors, such as the increasing demand for electronic toll collection systems in road tax collection, enhanced convenience for users and operators, and regulatory requirements mandating the installation of RFID tags. Challenges within the market include significant capital investment required for DSRC and GNSS-based systems, risks associated with vehicle RFID tags, and the potential disruption of RFID frequencies.

What will be the size of the Electronic Toll Collection Market During the Forecast Period?

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Market Segmentation

This report extensively covers market segmentation by application (highways and urban), technology (RFID-based, DARC, and others), and geography (APAC, Europe, North America, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

By Application

The market share growth of the highways segment will be significant during the forecast period. Highways play a critical part in making our lives simpler. They are necessary for traveling from one point to another swiftly and effectively. However, high-speed traffic poses certain difficulties. Safety is critical on highways designed for high-speed traffic. The more up-to-the-minute information motorists have about the current traffic condition, the safer they will be while driving. On roads, vehicles travel at fast speeds; electronic toll-collecting systems enable vehicle owners to conduct a quick digital transaction without stopping at toll booths. This method has ushered in a new era by making toll collection easier, quicker, and more efficient. 

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The highways segment was valued at USD 4.40 billion in 2017 and continued to grow until 2021. The highways segment holds the largest market share of the market in 2022 and is expected to dominate the market during the forecast period, owing to an increase in infrastructural development and improvement in traffic management policies at toll booths on highways.

Key Regions

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APAC is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

Emerging economies such as China, India, Indonesia, and Malaysia are witnessing a rise in the adoption of electronic toll collection systems due to rapid digitalization, which increase the demand for electronic toll collection in the region. APAC is expected to exhibit steady growth during the forecast period due to the high adoption volume of RFID tags and regulatory mandates to install RFID tags in vehicles. 

The economic growth of most countries in this region has increased investments in infrastructure and industrial developments, thus driving the demand for electronic toll collection systems.

Market Dynamics and Customer Landscape

The market is experiencing exponential growth, driven by pressing concerns such as road accidents, environmental impact, and traffic congestion. Technological advancements and the adoption of Intelligent Transportation Systems (ITS) are revolutionizing transportation infrastructure globally. Regulatory bodies like the World Health Organization (WHO) are advocating for solutions to mitigate carbon monoxide emissions and enhance public transportation. ETC systems, utilizing RFID tags and traffic sensors, offer seamless toll transactions while reducing vehicle idling and paper receipts. However, challenges persist, including data privacy concerns and the balance between individual privacy rights and mass surveillance. Despite this, the market continues to thrive, propelled by the need for efficient toll collection methods, which not only alleviate traffic flow but also contribute to emission reductions and lower transportation construction costs, particularly in Toll facilities and Open Road Facilities (ORT). Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The market is experiencing robust growth, propelled by the escalating demand for streamlined road tax collection systems. Nations like India, Indonesia, and Thailand are spearheading the adoption of RFID tags in vehicles to streamline toll payments, thereby spurring the deployment of electronic toll system infrastructure. Enhanced toll infrastructure initiatives are underway to optimize resource management and curb unnecessary expenses. For instance, India's FASTag initiative has witnessed over 39 million users since October 2021, facilitating seamless highway travel and bolstering toll revenue. This revenue infusion holds promise for enhancing road infrastructure, underscoring the significance of RFID tags as pivotal revenue-generating tools in driving market expansion amid mounting emphasis on transportation infrastructure and technological advancements.

Significant Market Trend

The growing popularity of RFID-based license plates is the key trend in the market. RFID tags are traditionally placed on windshields so that RFID readers placed at toll booths can look up vehicle identification numbers and pay tolls online. Some RFID tags embedded in license plates are called electronic license plates. These electronic number plates can be used for anti-counterfeit registration and identification of vehicles, traffic management, and access control. The sticker helps the police identify vehicles with suspected stolen or cloned license plates, as the sticker self-destructs when removed.

In March 2018, Honduras and the Cayman Islands introduced RFID-tagged vehicle license plates to identify vehicles and track their movements on highways and other roads. In March 2018, the Philippine Department of Transportation implemented the same system for all its vehicles. Tonnjes is a leading developer of license plates integrated with RFID tags. These developments in Europe, the Philippines, Honduras, and the Cayman Islands are expected to positively impact the focus market growth during the forecast period.

Major Market Challenge

High capital investment in DSRC and GNSS-based systems is the major challenge impeding market growth. One of the main challenges in the global electronic tax payment market is the high capital requirement to install various electronic payment technologies such as DSRC, GNSS, and related onboard equipment. Although the advantages of electronic toll systems are known to end users, their high cost is a major obstacle. Most DSRC and GNSS equipment require large investments, which may limit the growth in developing countries.

With the introduction of the systems comes the need for middleware to manage and transmit data to the destination without redundancy and instability. Understanding the implementation and use and functionality of the technology involves significant hidden costs such as maintenance costs, licensing costs, and user training in implementation, monitoring, and information management. Such factors are expected to hinder the growth of the global electronics collection market during the forecast period.

Key Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Who are the Major Electronic Toll Collection Market Players?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Neology - The company offers electronic toll collection systems with a mobile app that offers a better way to manage the hassles of contactless toll road fee payment as its key offering under the mobility segment. The company also offers open road tolling, electronic toll collection, urbanpaas, park and go, and smart gas.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • ABERTIS INFRAESTRUCTURAS SA
  • Cubic Corp.
  • EFKON GmbH
  • Electronic Transaction Consultants, LLC
  • FEIG ELECTRONIC GmbH
  • G.E.A.
  • International Road Dynamics Inc.
  • Kapsch TrafficCom AG
  • Mitsubishi Heavy Industries Ltd.
  • Perceptics Inc.
  • Q Free ASA
  • SICE TyS
  • Siemens AG
  • Star Systems International Ltd.
  • TECSIDEL S.A

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Segment Overview

  • Application Outlook 
    • Highways
    • Urban
  • Technology Outlook 
    • RFID-based
    • DARC
    • Others
  • Region Outlook 
    • APAC
      • China
      • India
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • North America
      • The U.S.
      • Canada
    • South America
      • Brazil
      • Argentina
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Market Analyst Overview

The market is experiencing remarkable growth driven by various factors, including technological advancements, transportation infrastructure enhancements, and the increasing need for efficient traffic management to mitigate traffic congestion and road accidents. Regulatory bodies like the World Health Organization (WHO) emphasize the importance of adopting intelligent transportation systems (ITS) to improve road safety and reduce carbon monoxide emissions. However, challenges such as data privacy concerns and the risk of mass surveillance pose hurdles to widespread adoption. Leading players like Plenary Infrastructure Group, Conduent, and Transcore LP are revolutionizing the market with innovative solutions like RFID technology and DSRC to streamline toll transactions and enhance traffic flow while ensuring individual privacy rights are protected. As demand for environmentally-friendly transportation grows, the ETC market is poised to witness substantial expansion alongside advancements in digital technologies and ETC systems. Gross Domestic Product (GDP), timestamps, toll roads, open road facility (ORT), vehicle theft detection, Plenary Infrastructure Group (Plenary), Faneuil Inc, HOV lanes, radio-frequency identification (RFID), and dedicated short-range communication (DSRC) are integral components of modern infrastructure and transportation systems, ensuring efficiency, security, and economic growth.

Moreover, the market is experiencing robust growth driven by the integration of advanced technologies and increasing demand for efficient transportation systems. With the proliferation of license plate numbers and travel routes, toll operators are leveraging traffic sensors and timestamp data to streamline toll charges and optimize transportation construction costs. The adoption of RFID and DSRC technologies enables seamless vehicle identification and toll collection, reducing vehicle idling and enhancing environmental impact through emission reductions. Key players like Plenary Infrastructure Group and Toshiba Corporation are pioneering innovative solutions such as EZ pass tags, Sunpass, and FasTrack, revolutionizing toll facilities and open road facilities (ORT). Despite challenges like supply chain disruption, the market continues to thrive, driven by the imperative to enhance public transportation and facilitate economic activities efficiently.

Electronic Toll Collection Market Scope

Report Coverage

Details

Page number

156

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 10.55%

Market growth 2023-2027

USD 6.64 billion

Market structure

Fragmented

YoY growth 2022-2023(%)

10.02

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 36%

Key countries

US, China, India, Germany, and UK

Competitive landscape

 Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

ABERTIS INFRAESTRUCTURAS SA, Cubic Corp., EFKON GmbH, Electronic Transaction Consultants, LLC, FEIG ELECTRONIC GmbH, G.E.A., International Road Dynamics Inc., Kapsch TrafficCom AG, Mitsubishi Heavy Industries Ltd., Neology Inc., Perceptics Inc., Q Free ASA, Raytheon Technologies Corp., SICE TyS, Siemens AG, Star Systems International Ltd., TECSIDEL S.A, Thales Group, Toshiba Corp., and TransCore

Market dynamics

Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our market research report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
  • Precise estimation of the size of the market size and its contribution to the parent market
  • Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
  • Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
  • Thorough market growth analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Technology
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global electronic toll collection market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global electronic toll collection market 2017 - 2021 ($ million)
    • 4.2 Application Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)
    • 4.3 Technology Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Technology Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Application

    • 6.1 Market segments
      • Exhibit 30: Chart on Application - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Application - Market share 2022-2027 (%)
    • 6.2 Comparison by Application
      • Exhibit 32: Chart on Comparison by Application
      • Exhibit 33: Data Table on Comparison by Application
    • 6.3 Highways - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Highways - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Highways - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Highways - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Highways - Year-over-year growth 2022-2027 (%)
    • 6.4 Urban - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Urban - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Urban - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Urban - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Urban - Year-over-year growth 2022-2027 (%)
    • 6.5 Market opportunity by Application
      • Exhibit 42: Market opportunity by Application ($ million)

    7 Market Segmentation by Technology

    • 7.1 Market segments
      • Exhibit 43: Chart on Technology - Market share 2022-2027 (%)
      • Exhibit 44: Data Table on Technology - Market share 2022-2027 (%)
    • 7.2 Comparison by Technology
      • Exhibit 45: Chart on Comparison by Technology
      • Exhibit 46: Data Table on Comparison by Technology
    • 7.3 RFID-based - Market size and forecast 2022-2027
      • Exhibit 47: Chart on RFID-based - Market size and forecast 2022-2027 ($ million)
      • Exhibit 48: Data Table on RFID-based - Market size and forecast 2022-2027 ($ million)
      • Exhibit 49: Chart on RFID-based - Year-over-year growth 2022-2027 (%)
      • Exhibit 50: Data Table on RFID-based - Year-over-year growth 2022-2027 (%)
    • 7.4 DARC - Market size and forecast 2022-2027
      • Exhibit 51: Chart on DARC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 52: Data Table on DARC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 53: Chart on DARC - Year-over-year growth 2022-2027 (%)
      • Exhibit 54: Data Table on DARC - Year-over-year growth 2022-2027 (%)
    • 7.5 Others - Market size and forecast 2022-2027
      • Exhibit 55: Chart on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 56: Data Table on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 57: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 58: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 7.6 Market opportunity by Technology
      • Exhibit 59: Market opportunity by Technology ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 61: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 62: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 63: Chart on Geographic comparison
      • Exhibit 64: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2022-2027
      • Exhibit 65: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 66: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 67: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 68: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.4 Europe - Market size and forecast 2022-2027
      • Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.5 North America - Market size and forecast 2022-2027
      • Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 81: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 82: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 83: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 China - Market size and forecast 2022-2027
      • Exhibit 85: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 86: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.9 US - Market size and forecast 2022-2027
      • Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.10 India - Market size and forecast 2022-2027
      • Exhibit 93: Chart on India - Market size and forecast 2022-2027 ($ million)
      • Exhibit 94: Data Table on India - Market size and forecast 2022-2027 ($ million)
      • Exhibit 95: Chart on India - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on India - Year-over-year growth 2022-2027 (%)
    • 9.11 Germany - Market size and forecast 2022-2027
      • Exhibit 97: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 98: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 99: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.12 UK - Market size and forecast 2022-2027
      • Exhibit 101: Chart on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 102: Data Table on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 103: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 105: Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 106: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 107: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 108: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 109: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 110: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 111: Matrix on vendor position and classification
            • 12.3 ABERTIS INFRAESTRUCTURAS SA
              • Exhibit 112: ABERTIS INFRAESTRUCTURAS SA - Overview
              • Exhibit 113: ABERTIS INFRAESTRUCTURAS SA - Product / Service
              • Exhibit 114: ABERTIS INFRAESTRUCTURAS SA - Key offerings
            • 12.4 Cubic Corp.
              • Exhibit 115: Cubic Corp. - Overview
              • Exhibit 116: Cubic Corp. - Business segments
              • Exhibit 117: Cubic Corp. - Key offerings
              • Exhibit 118: Cubic Corp. - Segment focus
            • 12.5 EFKON GmbH
              • Exhibit 119: EFKON GmbH - Overview
              • Exhibit 120: EFKON GmbH - Product / Service
              • Exhibit 121: EFKON GmbH - Key offerings
            • 12.6 Electronic Transaction Consultants, LLC
              • Exhibit 122: Electronic Transaction Consultants, LLC - Overview
              • Exhibit 123: Electronic Transaction Consultants, LLC - Product / Service
              • Exhibit 124: Electronic Transaction Consultants, LLC - Key offerings
            • 12.7 FEIG ELECTRONIC GmbH
              • Exhibit 125: FEIG ELECTRONIC GmbH - Overview
              • Exhibit 126: FEIG ELECTRONIC GmbH - Product / Service
              • Exhibit 127: FEIG ELECTRONIC GmbH - Key offerings
            • 12.8 G.E.A.
              • Exhibit 128: G.E.A. - Overview
              • Exhibit 129: G.E.A. - Product / Service
              • Exhibit 130: G.E.A. - Key offerings
            • 12.9 International Road Dynamics Inc.
              • Exhibit 131: International Road Dynamics Inc. - Overview
              • Exhibit 132: International Road Dynamics Inc. - Product / Service
              • Exhibit 133: International Road Dynamics Inc. - Key offerings
            • 12.10 Kapsch TrafficCom AG
              • Exhibit 134: Kapsch TrafficCom AG - Overview
              • Exhibit 135: Kapsch TrafficCom AG - Business segments
              • Exhibit 136: Kapsch TrafficCom AG - Key news
              • Exhibit 137: Kapsch TrafficCom AG - Key offerings
              • Exhibit 138: Kapsch TrafficCom AG - Segment focus
            • 12.11 Mitsubishi Heavy Industries Ltd.
              • Exhibit 139: Mitsubishi Heavy Industries Ltd. - Overview
              • Exhibit 140: Mitsubishi Heavy Industries Ltd. - Business segments
              • Exhibit 141: Mitsubishi Heavy Industries Ltd. - Key news
              • Exhibit 142: Mitsubishi Heavy Industries Ltd. - Key offerings
              • Exhibit 143: Mitsubishi Heavy Industries Ltd. - Segment focus
            • 12.12 Neology Inc.
              • Exhibit 144: Neology Inc. - Overview
              • Exhibit 145: Neology Inc. - Product / Service
              • Exhibit 146: Neology Inc. - Key offerings
            • 12.13 Raytheon Technologies Corp.
              • Exhibit 147: Raytheon Technologies Corp. - Overview
              • Exhibit 148: Raytheon Technologies Corp. - Business segments
              • Exhibit 149: Raytheon Technologies Corp. - Key news
              • Exhibit 150: Raytheon Technologies Corp. - Key offerings
              • Exhibit 151: Raytheon Technologies Corp. - Segment focus
            • 12.14 Siemens AG
              • Exhibit 152: Siemens AG - Overview
              • Exhibit 153: Siemens AG - Business segments
              • Exhibit 154: Siemens AG - Key news
              • Exhibit 155: Siemens AG - Key offerings
              • Exhibit 156: Siemens AG - Segment focus
            • 12.15 Thales Group
              • Exhibit 157: Thales Group - Overview
              • Exhibit 158: Thales Group - Business segments
              • Exhibit 159: Thales Group - Key offerings
              • Exhibit 160: Thales Group - Segment focus
            • 12.16 Toshiba Corp.
              • Exhibit 161: Toshiba Corp. - Overview
              • Exhibit 162: Toshiba Corp. - Business segments
              • Exhibit 163: Toshiba Corp. - Key offerings
              • Exhibit 164: Toshiba Corp. - Segment focus
            • 12.17 TransCore
              • Exhibit 165: TransCore - Overview
              • Exhibit 166: TransCore - Product / Service
              • Exhibit 167: TransCore - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 168: Inclusions checklist
                • Exhibit 169: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 170: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 171: Research methodology
                • Exhibit 172: Validation techniques employed for market sizing
                • Exhibit 173: Information sources
              • 13.5 List of abbreviations
                • Exhibit 174: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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