What is Electronic Toll Collection?
Electronic toll collection is an automatic method of toll collection which does not require vehicle to stop at toll gate and make use of payment by user cards which are linked with ETC system. The system determines whether a passing car is registered and if not, then it alerts to local concerned agency. Transportation has emerged as a dominant infrastructure and economy corridor across the world and toll plazas play a vital role in maintaining the road transportation. As opposed to manual toll collection, tolling in future is likely to make use of multiple technologies which include radio-frequency identification (RFID), dedicated short range communication (DSRC), infrared, GNSS/GPS and video analytics. The world is going through industrial revolution and road transportation is required in every aspect of economy growth thus giving ETC system an edge which will keep on expanding irrespective of slight niggle on the way.
The market study is broken down, by Application (Highway, City, Community and Other) and major geographies with country level break-up. and may see market size of USD11.2 Billion by 2026.
Analysts at AMA Research estimates that Manufacturers from United States will contribute to the maximum growth of Global Electronic Toll Collection market throughout the predicted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Conduent Business Services, Llc [United States], 3M [United States], Kapsch Trafficcom Ag [Austria], Cubic Transportation Systems, Inc. [United States], Siemens Ag [Germany], Thales Group [France], Sanef ITS [France], Transurban Limited [Australia], International Road Dynamics (Ird) [Canada], Raytheon Company [United States] and Denso corporation [Japan] are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are TransCore Holdings, Inc [United States], Vinci SA [France], Neology, Inc [United States], Efkon Ag [Austria], Q-Free [Norway] and Toll Collect GmbH [Germany].
AdvanceMarketAnalytics has segmented the market of Global Electronic Toll Collection market by Type, Application and Region.
On the basis of application, Highway segment is dominating the market in the year 2020
On the basis of geography, the market of Electronic Toll Collection has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Norway, Austria, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sub-system, the sub-segment i.e. Automated Vehicle Identification (AVI) will boost the Electronic Toll Collection market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Radio Frequency Identification (RFID) will boost the Electronic Toll Collection market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offering, the sub-segment i.e. Hardware will boost the Electronic Toll Collection market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
As reported by global legal chronicle, Austria based Kapsch TrafficCom AG, a European Electronic Toll Service (EETS) provider company Axxès SAS are expected to launch a joint venture in the European HGV tolling sector.The aim is to offer a sustainable toll collection technology across Europe through this joint venture.
The government of India is willing to implement ETC system across the nation to allow commuters to pay tolls without any hassle. National Highway Authority of India (NHAI) is ready to bear 50 % of the cost in setting up the systems while rest would be borne by respective state governments. The move is being taken under National Electronic Toll Collection Program (NETCP) which is being run by Indian Highways Management Company Limited (IHMCL), a company promoted by NHAI. The government is planning to setup the services by March 2020 with chances of further extension. The country has over 500 states and 450 national highway toll plazas. Only 25 state toll plazas offer ETC services as of January 2019 and only 27% NHAI tolling is FASTags enabled.
The International Bridge, Tunnel and Turnpike Association (IBTTA), headquartered in the United States, is a worldwide association which represents toll facility owners and operators. It has members over 20 countries. IBTTA is currently accepting proposals for consulting and technical services that support the testing, certification and selection of the National Interoperability (NIOP) protocol. The tolling protocol technology selected out of this process will facilitate seamless travel by roadway users of tolling facilities across North America.
- Growing Use of Advanced RFID (Radio-frequency Identification) and GSM Technology
- Increasing Use of Video Analytics Toll Collection Technique
- Growing Need for the Safe and Efficient Traffic Management Amid Increasing Number of Vehicle Sales
- Focus on Environmental Pollution Mitigation
- Infrastructural Developments in Emerging Countries
- Government Favorable Initiatives to Support ETC Systems and Stringent Regulation to Curb Vehicular Emission
- High Installation Cost of ETC System
- Lack of Infrastructural Developments in Emerging Countries
- High Maintenance, Repair and Operating (MRO) Cost of ETC Systems
- Issue Related with Interoperability of Electronic Toll Collection System in Various Parts of Countries
"Out of all the technologies, video analytics and satellite based tolling technology are expected to witness maximum growth during forecasted period. The reason being low operational cost of video analytics system provides it an edge over others."
Key Target Audience
Electronic Toll Collection Service Providers, Components Suppliers/Distributors, System Integrator, Potential Investors, Research Institutes, Government Agencies and Others
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.