Electronic Toll Collection Market 2018 Global Leaders: Raytheon Company, Transurban Limited, Thales Group, Siemens AG, 3M, Toll Collect GmbH, Perceptics, TransCore, Xerox Corporation

Market Research Future published a research report on “Electronic Toll Collection Market Research Report - Global Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Electronic Toll Collection Market – Worldwide Overview

Electronic Toll Collection (ETC) System market, over the past few years is perceiving a rapid upsurge evolving extensively. Emergence of these systems has brought up the convenience of systematic, congestion free travel experience & a much reduced traveling time. Which, people are actually enjoying & appreciating increasingly demanding for these systems to be implemented at the toll collection centres for the highways, sea links & fly overs.

Besides, these systems are embedded with some unequally designed features such as Card payment (cashless travel facility), appropriate charging for the single/ return journey & most importantly some value added services like accident & emergency incidence aid/assistance. Besides implementation of ETCs ensure savings on transaction costs for government agencies as well as private road owners.

Technological advancements transpired in the field of ETC have introduced mobile apps for Tags collection which are further easing efforts people put in for down loading the toll payment receipts from their email account. With these app people can immediately get their receipt on their mobile. All these convince adding factors are supporting ETCs to garner more popularity & hence demand, uptake & market growth.

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Acknowledging the increasing demand & growth the market is witnessing currently, Market Research Future (MRFR) has recently published a brilliant study report. In its report MRFR mentions that the global Electronic Toll Collection Market will register valuable accruals & a CAGR of 9% throughout the forecast period (2016-2023).

In addition, other factors that contribute the market growth include increasing population, urbanization, industrialization and improving economical situations in the countries across the globe. Increased “Smart City” projects worldwide are providing impetus to the market growth. Simultaneously, government initiatives for the infrastructure development & smart highways projects are fostering the market growth.

On the other hand, factors such as high installation cost and tag maintenance among others are limiting the market growth. Also factors such as toll invaders, non-participation, queuing in manual lanes along with disorderly traffic patterns are affecting the market growth negatively. Furthermore, automated gates programed with over legal speed limits, installed at some infrastructures are inflicting vehicle hazards, incident & accident that are damaging the set-ups & sometimes ending up injuring the toll centre staff.

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.).

Regional Analysis

North America leads the market for global electronic toll collection market. The usage of four-wheelers and heavy vehicles is high in North America, which is the main reason for the requirement of an effective transportation system in the North American countries.

In the United States, the electronic toll collection market has peaked. The ETC market is now slowly entering its mature stage and market growth is diminishing. All large projects have been or are being deployed, and the U.S. is approaching the replacement stage. Despite this decreasing demand for ETC implementation, the North American ETC market is still growing and is expected to do so in the next few years, but at a lower rate. In fact, demand for ETC installation in small or medium roads starts growing.

In Canada, toll collection is a recent concept. Therefore, Canada appears as a new market and the Canadian market for electronic toll collection is still in the infancy stage. Canada started implementing ETC systems in the late 1990s and so far, the concept of toll collection has not been very popular. Even in the 407ETR in Ontario—nown as the very first, all-electronic toll highway in the world—demand for new ETC implementations in Canada is not assured.

There is tremendous reluctance at the political and institutional level to convert existing roadways to toll facilities, particularly if there is no reasonable alternate route which is not tolled. Because of customers' reluctance to accept the system and political fears, the Canadian ETC market in the next few years.

The European toll market, currently characterized by a large number of national companies and organizations, is also undergoing change. Countries such as Germany, France and Belgium have recognized that the market is changing and are moving toward setting standards.

The growing demand for electronic toll collection systems in Asia Pacific can be attributed to favourable government policies, growing investments in infrastructural development, and increasing adoption of automation across several regions.

A number of emerging economies are increasingly addressing the need to adopt time and cost efficient electronic toll collection systems throughout the major cities. For instance, in India, the National Payments Corporation of India has been encouraging several highways to install electronic toll collection systems with a view to increase digital payments across the country, supporting the cashless economy initiative of the government.

Nearly 14-16% of the toll collection in the country has been converted into electronic mediums, with the transaction number rising up to 7 million per month, reported the National Electronic Toll Collection in April 2017. The availability of advanced, easy, and convenient digital platforms for payment such as BharatQR and Samsung Pay has eliminated the waiting time required for card swipes.

Worldwide Electronic Toll Collection Market – Segmentations

For the convenience of the report and enhanced understanding; the market is segmented in to 6 key dynamics

• By Products: Comprises Automated Vehicle Identification (AVI) and Automated Vehicle Classification (AVC).
• By Types: All Electronic Tolling (AET), Electronic toll collection (ETC), Automatic number plate recognition (ANPR) & Transponders.
• By Technologies: Dedicated Short Range Communications (DSRC), Radio Frequency Identification (RFID), and Global Positioning System (GPS) among others.
• By Application: Highways & Urban
• By Modes of Toll Collection: Prepaid & Postpaid.
• By Regions: North America, Europe, APAC and Rest of the World.

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