Electronic Toll Collection Market (ETC) to hit 8.54% CAGR By 2023

Electronic Toll Collection Market (ETC) report is comprehensive information on ETC systems offered by the top players in the overall ETC market. The overall ETC market is estimated to grow from USD 7.1 billion in 2018to USD 10.7 billion by 2023, at a CAGR of 8.54%. Kapsch AG (Austria), Raytheon (US), TransCore (US), Conduent (US), Thales (France), Cubic Transportation (US), Siemens AG (Germany), EFKON GmbH (Austria), VINCI (France), and Neology (US) are a few leading players in the ETC market.

Download PDF Brochure of Electronic Toll Collection Market (ETC) spread across 162 Pages, Profiling Companies and Supported with 61 Tables and 77 Figures is now available at https://www.reportsnreports.com/contacts/requestsample.aspx?name=276166 .

An effective solution to overcome traffic congestion with improved traffic flow per lane, increased allocation of funds for the deployment of ITS by various governments, reduced environmental pollution using ETC systems, improved convenience due to cashless travel facility, and development of smart cities across the world are the major factors driving the ETC market growth.

Increasing investment opportunities in economically and technologically developing countries, rising number of public–private partnership (PPP) agreements in the transportation sector, and growing transition to all-electronic tolling (AET) systems are likely to provide opportunities to the players in the Electronic Toll Collection Market (ETC). On the other hand, slow growth in the infrastructure sector in underdeveloped countries and high operating costs are major restraints for the market growth.

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“Highways application is expected to grow at a higher rate during the forecast period”
Demand for ETC systems for highways application is expected to increase during the forecast period. Vehicles are driven at high speeds on highways; ETC systems help vehicle owners carry out a convenient transaction without the need to stop at tollbooths. This system has brought a new revolution, which has made the process of toll collection simple and effective. Previously, a toll collector or attendant was employed at toll gates to collect a toll based on vehicle classification. In this method, a collector accepts the toll amount, makes the entry of a vehicle in the system, and issues receipt to the driver. Due to this manual intervention, the processing time was very high. This method resulted in significant congestion at many toll stations, thereby increasing pollution and travel time, as well as decreasing accommodation capacity of vehicles per hour.

RFID to account for a major share of ETC market, based on technology, during the forecast period
RFID technology utilizes its radio-frequency electromagnetic fields for the identification of objects that carry RFID tags. This technology is used in electronic identification, tracking, and storing information contained on the tag. Two-way radio transmitters/receivers called interrogators or readers send a signal to the tag and read its response. RFID readers scan the tag and then send that information to the database for storing it. RFID is a prominent technology used in ETC systems owing to their low cost of operation. RFID technology uses radio waves to identify onboard devices very much like DSRC technology automatically. Operating frequency of RFID (in the range of 915 MHz) is different than that of DSRC (in the range of 5.8– 5.9 GHz). In reality, the performance of ETC systems based on RFID technology is slightly lower than that of based on DSRC technology.

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“Americas is expected to hold the largest size of the ETC market during the forecast period”
The Americas is a major region responsible for the growth of the ETC market. Trans Core (US), Raytheon (US), Conduent (US), Cubic transportation System (US), Neology (US), Electronic Transaction Consultants (ETC) Corporation (US), Geotoll (US) are among a few key players that are based in North America. These companies have majorly contributed to the growth of the electronic toll collection market in the Americas. The US is the major contributor to the ETC market. According to IBTTA, the US toll agencies in 35 states operate installed ETC equipment (i.e., roadside infrastructure, toll tags, and related systems) that are worth hundreds of millions of dollars. They generate more than nearly USD 13 billion of annual revenue while maintaining almost 45 million toll accounts across the country. In California, Florida, New Jersey, Pennsylvania, Texas, and Delaware, vehicles cross toll roads athigh speed. Hence, it has become important to implement ETC systems in these states to control traffic control and avoid accidents. The growth of the ETC market in the US is driven by several benefits offered by ETC solutions such as reduction in traffic congestion, fuel consumption, and travel time, as well as the decrease in manual errors while collecting tolls.

In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews have been conducted with key industry people. The breakup of the profile of primary participants has been given below:
• By Company Type: Tier 1 – 25%, Tier 2 – 45%, and Tier 3 – 30%
• By Designation: – C-Level Executives –45%,Directors – 35%, and Others – 20%
• By Region: Americas – 35%, Europe – 30%, APAC – 25%, and RoW – 10%

Research Coverage:
• Major applications for ETC systems are high ways and urban areas.
• By offering, the ETCmarket has been segmented into hardware, and back office and other services.
• By technology, the ETCmarket has been segmented into RFID, DSRC, and others. Other technologies include video analytics, satellite-based GNSS/GPS-, weigh-in-motion (WIM).
• By type, the ETCmarket has been segmented into transponder- or tag-based toll collection systems and other toll collection systems. Other tolling systems include ANPR (ALPR/video) systems, automated vehicle classification (AVC) systems, and weigh-in-motion.
• The geographic analysis is donewith regard to major 4regions, namely, Americas, Europe, AsiaPacific (APAC), and Rest of the World (RoW).

Reasons to Buy This Report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market ranking analysis of top players, value chain analysis; company profiles, which discuss the basic views on the competitive landscape, emerging and high-growth segments of the ETC market, and high-growth regions; and drivers, restraints, challenges, and opportunities pertaining to ETC market.
The report provides insights on the following pointers:
• Market penetration: Comprehensive information on ETC systems offered by the top players in the overall ETC market
• Product development/innovation: Detailed insights regarding R&D activities, emerging technologies, and product launches in the ETC market
• Market development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for ETC systems across regions
• Market diversification: Exhaustive information about untapped geographies, recent developments, and investments in the overall ETC market
• Competitive assessment: In-depth assessment of market ranking analysis, strategies, products, and manufacturing capabilities of the leading players in the ETC market

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