Electronic Toll Collection Market by Top Key Participant: 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

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.

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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. Stringent government regulations and standards regarding toll collection coupled with increasing adoption of these systems in urban areas and highways will result in increasing demand of these systems.

Dependency on government approvals for adoption of electronic toll collection systems will restrain the business growth over the forecast timeframe. High installation costs, along with significant operating & maintenance cost, and less deployment in underdeveloped economies will hinder the industry growth. Moreover, lack of standardization and interoperability of these systems pose a threat to electronic toll collection market share over the forecast timeline.

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.

Dedicated short-range communications (DSRC) and radio frequency identification (RFID) are the technologies gaining prominence in electronic toll collection market. RFID system utilizes information embedded tags that are read by specifically designed RFID readers. It helps to eliminate manual collection and ticket payments need. RFID card stores the information on records and is rechargeable. Moreover, it allows drivers to pass through the booths without stopping.

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Based on technology, the industry can be categorized into dedicated short range communications (DSRC), radio frequency identification (RFID), global networking satellite systems (GNSS), and global positioning system (GPS). RFID and DSRC technologies currently exhibit an exponential market share and are anticipated to dominate the market in the forecast timeframe owing to their wide applications. GNSS and GPS technologies are expected to showcase a significant growth rate during the forecast timeline owing to their increasing deployment globally in these systems.

On the basis of applications, industry can be segmented into urban areas, bridges, and highways. Highways are anticipated to account for a major market share in the forecast timeline owing to tremendous increase in installations of electronic toll collection systems across the globe. Moreover, rising on-road traffic has also propelled this segment’s growth. Urban areas and bridges are projected to showcase a significant growth rate and wide scope owing to increasing urbanization.

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.

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Competitors of the industry 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. The industry players focus on continuous upgradations and innovations of these systems for gaining the competitive edge. For instance, on April 7, 2017, Halifax Darmouth Bridge Commissions selected Transcore Holdings Inc. to upgrade the toll systems for Mackay and Macdonald bridges in Canada.

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.

Browse Related Report:
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https://www.marketwatch.com/press-release/traffic-sensor-market-2018-2024-expected-developments-to-be-observed-worldwide-2018-09-20

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