What’s driving the electronic toll collection market trends? | prominent key Vendor Daimler AG, DENSO, Ford Motor Company, Volvo Group, General Motors Company, Mercedes-Benz, Volkswagen AG, Bosch, HARMAN International

Electronic Toll Collection Market is expected to witness high CAGR from 2019 to 2025 owing to increasing need for avoiding long queues at toll stations, demand for reducing the fuel consumption, and adoption of cashless driving facilities. Government authorities are allocating funds for the deployment of electronic toll collection systems at toll stations to improve road efficiency and reduce air pollution. The adoption of smart cities is improving the roadside infrastructure including toll stations that are using electronic toll collection systems to reduce traffic congestion in cities during peak traffic hours.

The increasing number of passenger vehicles on the road is creating traffic congestion at toll stations. Frequent traffic congestions may lead to substantial economic losses for transportation and other related sectors. Technological advancements in the automotive sector, such as autonomous driving and connected vehicles, are also contributing significantly to electronic toll collection market growth.

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North America dominates the electronic toll collection market due to the development of advanced road facilities and demand for reducing traffic congestion. Government authorities in the region are implementing ETC systems across roads and bridges to improve road transportation. For instance, in June 2018, Thousand Islands Bridge Authority (TIBA), an authority that controls cross border transportation on Thousand Islands International Bridge, selected TransCore, a leading provider of traffic management system, to design, develop, and maintain the ETC system across the U.S. and Canadian border.

Company profiled in electronic toll collection market report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Kapsch TrafficCom AG
2. Mitsubishi Heavy Industries, Ltd.
3. Thales Group
4. DENSO Corporation
5. Electronic Transaction Consultants (ETC) Corporation
6. TransCore Atlantic LLC
7. Conduent Business Service, LLC.
8. Raytheon Company
9. Siemens AG
10. VINCI
11. EFKON GmBH
12. Neology, Inc.
13. The Revenue Markets Inc.
14. Sociedad Ibérica De Construcciones Eléctricas, S.A. (SICE)
15. Toll Collect GmbH
16. Connect East Pty Ltd.
17. Quarterhill, Inc.
18. Xerox Corporation
19. Star Systems International Ltd.
20. Perceptics LLC

ETC facilitates quicker and efficient transactions at toll stations as there are no cash transactions involved. The toll collected directly from bank accounts of vehicle owners will reduce the chances of fraud-related cash transactions. It will also reduce the chances of excess toll collection against the decided fees from government authorities. ETC also improves data collection at toll stations. Data, such as vehicle number, vehicle count, date, and time of vehicle passing the toll station, can be used to improve the transportation system and track any missing vehicle. The initial cost for the deployment of ETC is quite high and involves high operating and maintenance cost at later stages. The lack of standardization in toll collection systems can hamper the electronic toll collection market growth over the forecast timeline.

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The manual toll collection system is time-consuming as it involves the intervention of booth staff. ETC also helps in reducing the travel time as vehicles do not have to stop at every toll station for paying toll fees. Due to ETC systems, the emission of carbon monoxide from vehicles will reduce due to the reduction of acceleration of idle vehicles waiting at toll stations for longer periods. The reduced congestion at toll stations also helps in reducing the number of accidents near toll plazas.
The companies operating in the electronic toll collection market are working together with government authorities to improve the toll collection system. For instance, in August 2018, Kapsch TrafficCom, a leading provider of the intelligent transportation system collaborated with the Swiss Federal Office for Buildings and Logistics (FOBL) and Federal Customs Administration (FCA) for upgrading roadside toll collection infrastructure.

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