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Electronic toll collection market size is expanding rapidly to cater to the growing demand of safe infrastructure. Technological advancements in this industry have forced the governments across the globe to make heavy investments on toll lanes. Positive government support in framing new standards and regulations regarding implementation of these systems and tolling has catapulted the industry growth. These systems are beneficial for companies and traffic agencies as they help to reduce costs by eliminating the requirement of multiple plazas. Furthermore, these systems positively impact the environment by reducing the exhaust emissions made during stoppages at manual booths.
Electronic Toll Collection Market size is likely to register considerable growth rate in the coming years. Rising demand of effective traffic management owing to increasing on-road traffic and necessity of time savings will drive the Electronic toll collection market growth. Enhanced features of these systems such as lesser waiting time, assuring convenience of drivers and operators, cashless travelling facility, less environmental pollution, and reducing traffic congestion at collection plazas are the benefits offered by this technology.
Competitors of the electronic toll collection market include Transurban Limited, Transcore Holdings Inc., Sensor Dynamics, Xerox Corporation, TRMI Systems Integration, G.E.A, SAIC, Perceptics Inc., Q-free, Thales Group, Cubic Transportation Systems, EFKON AG, Kapsch TrafficCom AG, 3M, Connect East, Atlantia SpA, and International Road Dynamics.
Market share calculation in this report is not done based on companies covered in it. The calculation of electronic toll collection market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.
Regional Segmentations: -
North America is expected to dominate the market share during the forecast timespan owing to heavy deployment of electronic toll collection systems in the developed economies. Stringent government regulations and mandatory standards will propel the industry demand in this region.
Asia pacific is predicted to showcase an exponential growth rate over the forecast timeline owing to high demand of these systems in the emerging economies such as China, India, South Korea, Philippines, Singapore, and Malaysia. Increasing traffic and development of road infrastructure has led to these systems demand, thus fueling the industry growth.
Global networking satellite systems (GNSS) and global positioning system (GPS) will also challenge the traditional systems. GNSS tolling uses Global networking satellite systems (GNSS) sensors in-built in the vehicles and is used mostly in urban areas. This technology is also applicable in insurance, controlling vehicle emissions, and parking. High demand of these systems in Asia Pacific acts as an opportunity for this market. Moreover, emerging all electronic tolling (AET) and open road tolling (ORT) has paved the way for a wide scope in this industry.
Based on products, industry is divided into antennae, transponders, treadles, scanning devices, inductive loops, weigh-in motion devices, film storage devices and cameras. Various subsystems in this segment are Automatic vehicle identification (AVI), violation enforcement systems (VEC), automatic vehicle classification (AVC), back-office & integration. AVI segment is anticipated to dominate the market in the forecast timeline owing to its features such as cost-effectiveness, reliability, and secure collection.
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