DUBLIN, April 7, 2020 /PRNewswire/ — The “Electronic Toll Collection Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025” report has been added to ResearchAndMarkets.com’s offering.
The global electronic toll collection market is currently witnessing strong growth. Looking forward, the market is projected to reach a value of US$ 16.7 Billion by 2025, registering a CAGR of around 10% during 2020-2025.
The development of smart transportation systems, along with the growing requirement of effective traffic management solutions, is among the key factors driving the growth of the market. Furthermore, as a result of the rapidly rising population across the globe, which is leading to increasing on-road vehicles, there is increased adoption of ETC systems across developing nations to manage the additional congestion at toll plazas on highways and roads.
Additionally, various technological advancements, including the utilization of real-time tracking and monitoring devices on vehicles and the adoption