Electronic Toll Collection Market 2018 Global Leaders: Xerox, Siemens AG, Thales Group, Raytheon Company, Toll Collect GmbH, TransCore, VaaaN, GeoToll

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.

Market Highlights

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.

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 the 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.

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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.).

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.

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Intended Audience

• Technology Providers
• Research organizations
• Technology investors
• Venture capitalists
• Government organizations

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