Market Snapshot
Market Research Future reports that the global market for electronic toll collection (ETC) surpassed a valuation of USD 7,400 Mn in 2017. Factors such as the continuous rise in vehicle parc and introduction of advanced traffic control systems are having a positive impact on the global Electronic Toll Collection Market. Mega-scale road infrastructure projects are a major part of the public infrastructure development activities both in advanced and developing countries. The completion of highways and other road development projects leads to requirement of maintenance systems such as toll booths. Electronic toll collection is witnessing a fast adoption owing to its high efficiency. Traditional toll collection systems are unable to support modern highways, which is prompting authorities to adopt more efficient technologies. ETC helps in reducing unnecessary delays on toll roads. It is also being deployed in toll-tunnels and intercity toll bridges for faster toll collection.
Report Synopsis
This MRFR perspective presents an analysis on the growth trends of global electronic toll collection market. The critical observations that are made are based on historical trends and current ETC system deployment rate. The research document also includes a market forecast until 2023. As a part of market assessment, major types of electronic toll collections have been discussed. Also, ETC products such as Automatic Vehicle Identification (AVI) and Automated Vehicle Classification (AVC) are mentioned in the document. Further, various ETC technologies including radio frequency identification (RFID), dedicated short range communications (DSRC) and global positioning system (GPS) are discussed. In the document, prepaid and postpaid are denoted as primary means of toll collection. Analysis based on major application areas for ETC covers highways, and urban.
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Key Players
Some of the key players in the market are 3M (U.S.), Xerox Corporation(U.S.), Q-Free (Norway), Cubic Transportation Systems, Inc. (U.S.), Siemens AG (Germany), Thales Group (France), Transurban Limited (Australia), International Road Dynamics, Inc. (Canada), Raytheon Company (U.S.), The Revenue Markets Inc. (U.S.), Schneider Electric SE (France), Toll Collect GmbH (Germany), Perceptics, LLC (U.S.), TransCore (U.S.), Far Eastern Electronic Toll Collection Co., Ltd. (Taiwan), and Xiamen Innov Information Technology Co., Ltd. (China); and software providers such as, VaaaN (India), TransCore, LP (U.S.), and GeoToll, Inc. (U.S.).
Electronic toll collection Global Market – Segmentation
The electronic toll collection market can be classified into 5 key segments for the convenience of the report and enhanced understanding;
- Segmentation by Type: Electronic Toll Collection (ETC) and All-Electronic Tolling (AET)
- Segmentation by Product: Automatic Vehicle Identification (AVI), Automatic Vehicle Classification (AVC), and Back Office and Integration, and Violation Enforcement System (VES)
- Segmentation by Technology: Radio-frequency Identification (RFID), Dedicated Short-Range Communication (DSRC), Global Positioning System/Global Navigation Satellite System (GPS/GNSS) and Video Analytics
- Segmentation by Application: Highway and Urban
- Segmentation by Region: North America, Europe, Asia Pacific and Rest of the World.
Electronic toll collection Global Market – Regional Analysis
North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the electronic toll collection market in North America owing to the presence of a large number of established key players such as 3M, Xerox Corporation, and Cubic Transportation Systems, Inc. among others. Also, U.S. is leading the market in North America due to the technological advancements and increasing usage of four wheelers and heavy vehicles is high in the region. Electronic toll collection market in Asia Pacific is expected to grow at a substantial CAGR during 2017 to 2023 owing to growing population and increased urbanization in China, Japan, and India in the region. Whereas, the Europe market for electronic toll collection is expected to grow at a considerable CAGR (2017-2023).
Industry News
April 2018 – India road transport ministry has approved that vehicles with valid FASTag will be allowed to travel free, in case, the system is unable to read the tag. NHAI had sent the proposal for ministry’s approval in its bid to bring relief to commuters who have bought the FASTags and recharged them for smooth travel
April 2018 – Kapsch has been awarded a contract to upgrade toll collection equipment on Maryland roads. The base contract includes the replacement of all toll equipment and six years of subsequent operations and maintenance. The contract also includes hardware upgrades at all MDTA bridge and tunnel facilities.
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- Technology investors
- Venture capitalists
- Government organizations
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