ETC Systems Market by Technology and Geography - Forecast and Analysis 2021-2025
- Published: Oct 2021
- Pages: 120
- SKU: IRTNTR71223
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ETC Systems Market - 2021-2025
The ETC systems market size is expected to grow by USD 4.93 billion, at a CAGR of 8.75%, between 2021 and 2025. This research study helps in a deep understanding of the underlying forces driving the market growth and current and potential target customers across segmentations. According to our comprehensive survey, factors such as the rising demand for, ETC system in road tax collection are projected to significantly support market growth during the forecast period. Our research experts have thoroughly evaluated and covered the latest trends and challenges that will have a far-reaching effect on market growth.
ETC Systems Market Segments
From this Technavio report, get actionable insights on the ETC systems market segments to generate successful ROIs and focus your business strategy efforts where they are most likely to be effective. Navigate through market segmentation by technology (RFID-based, DSRC, and others) and geography (APAC, Europe, North America, South America, and MEA) in this, ETC systems market report to pursue growth opportunities.
Also, our market research experts have evaluated the impact of COVID-19 across market segments for our clients to understand the long-term business implications and foresee opportunities for subsequent recovery. This research report entails a thorough qualitative and quantitative analysis on the post-pandemic ETC systems market predictions on consumer demand changes for 2021-2025.
ETC Systems Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 8.75%
Market growth 2021-2025
$ 4.93 billion
YoY growth (%)
APAC, Europe, North America, South America, and MEA
Performing market contribution
APAC at 36%
Key consumer countries
China, US, India, Germany, and UK
Leading companies, Competitive strategies, Consumer engagement scope
Cubic Corp., EFKON GmbH, FEIG ELECTRONIC GmbH, Kapsch TrafficCom AG, Mitsubishi Heavy Industries Ltd., Raytheon Technologies Corp., Siemens AG, Thales Group, and Toshiba Corp.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, Market condition analysis for the forecast period
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ETC Systems Market Key Vendors and Competitive Analysis
Technavio research specialists have included significant well-thought-out business planning approaches of key players in this report. The ETC systems market is fragmented and the vendors are deploying organic and inorganic growth strategies to gain competitive advantage.
The unprecedented outbreak of COVID-19 last year impacted market segments that has had a ripple effect on various stakeholders. To make the most of the opportunities and recover from post COVID-19 impact, the market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Get the full report to understand the COVID-19 impact on the growth of the ETC systems market share during 2021-2025.
The ETC systems market forecast report comprises complete key vendor profiles. The profiles include information on the production, sustainability, prospects of the leading companies, and other crucial vendor landscape analysis.
Regional Opportunities in ETC Systems Market - 2021-2025
36% of the ETC systems market growth will originate from APAC during the forecast period. China and India are the key markets for ETC systems in APAC. This report encompasses exclusive information on potential business locations and understand the demographics of current and prospective customers.
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APAC has been exhibiting a significant growth rate for ETC systems market vendors. To view our in-depth analytical review on the micro and macroeconomic factors impacting businesses in the regions click on the image above.
The ETC systems market share growth in APAC will be slower than the growth of the market in the European, MEA, and North American regions. The geographical segmentation in the report has assessed and included details on the competitive intelligence and regional opportunities in store for vendors.
ETC Systems Market Share and Revenue by Technology
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The ETC systems market share growth by the RFID-based segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the ETC systems market size.
From the ETC systems market segmentation insights, players can achieve maximum market response by understanding the target consumers. The analytical data on the segmentation will allow vendors to position their services and products among the right audiences and gain significant exposure and growth. Also, get updated actionable market insights on post COVID-19 impact on each segment.
Key ETC Systems Market Drivers & Trends
While it is crucial to have a solid understanding of the drivers and trends, it is also imperative that the market challenges are recognized to improvize business planning and sustain market competition. One of the key factors impeding ETC systems market growth is high capital investment in DSRC and GNSS-based ETC systems. In this research report, our analysts have elucidated exhaustive all key industry trends, drivers, and challenges, which will help companies evaluate and develop growth strategies.
One of the key factors driving growth in the ETC systems market is the rising demand for ETC systems in road tax collection. Toll and vehicle tax collection of a country is crucial for the transportation departments to enhance the traffic infrastructure. The emerging economies are witnessing a strong demand to enhance the road infrastructure due to growing economic activities. Countries such as India, Indonesia, and Thailand encourage integrating RFID tags in vehicles to make toll payments convenient. The adoption of ETC system infrastructure manages resources efficiently and reduces unwanted expenses.
The convenience for users and operators is another major factor supporting the ETC systems market share growth. Operators can automate the process of collecting payment with minimum physical interaction, thus increasing operational efficiency. In developing countries, the adoption of RFID-based ETC systems is rapidly growing, owing to the low cost of RFID technology. The system is also useful in extreme weather conditions, where quick entry and exits are imperative.
This ETC systems market analysis report provides detailed information on key trends, drivers, and challenges that is the essence of business planning and strengthening marketing strategies across regions and segmentations.
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ETC Systems Market Report Outlook
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive ETC systems market growth during the next five years
- Precise estimation of the ETC systems market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the ETC systems market across APAC, Europe, North America, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of ETC systems market vendors
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Technology
- Market segments
- Comparison by Technology
- RFID-based - Market size and forecast 2020-2025
- DSRC - Market size and forecast 2020-2025
- Others - Market size and forecast 2020-2025
- Market opportunity by Technology
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- North America - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Cubic Corp.
- EFKON GmbH
- FEIG ELECTRONIC GmbH
- Kapsch TrafficCom AG
- Mitsubishi Heavy Industries Ltd.
- Raytheon Technologies Corp.
- Siemens AG
- Thales Group
- Toshiba Corp.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Rising demand of ETC system in road tax collection
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