Global Market for Electronic Toll Collection (ETC) Systems is Projected to Reach US$7.8 Billion by 2020
Demand for Effective Tolling Systems Drives the Global
Market for Electronic Toll Collection (ETC) Systems, According to New Report by
Global
Industry Analysts, Inc.
GIA announces
the release of a comprehensive global report on Electronic Toll Collection
(ETC) Systems markets. Global market for Electronic Toll
Collection (ETC) Systems is projected to reach US$7.8 billion by 2020,
driven by growing demand for effective tolling systems on highways and urban motorways.
Electronic Toll
Collection (ETC) systems are bringing in massive changes to the toll collection
methods, enabling significant time/cost savings and greater convenience for
commuters, while simultaneously generating greater revenues for operating
agencies. Given the challenges and inconsistencies associated with the
implementation and operation of traditional toll collection systems such as
manual toll collection and automated toll collection, ETC systems are fast
growing in popularity and are even replacing the traditional tolling
infrastructure in most of the nations.
Progressive
developments in the economic and environmental sectors are positively
influencing governments across the world to make bulk investments in this new
toll collection mechanism. From express ETC lanes with cash lanes off to the
side to ‘Open Road Tolling systems’, where commuters need not stop or slowdown
for making transportation fee payments, ETC technologies have introduced
several new concepts to the traditional toll collection practices. The new-age
All Electronic Tolling (AET) lanes with open road tolling systems use fully
automated electronic toll collection technology that eliminates manual
collection of toll payments and physical operation of toll barriers. These ETC
systems provide cashless, highway speed toll collection that offers greater
convenience and highway security for commuters and tollbooth operators.
Besides, ETC systems enhance the guidance and monitoring of vehicles using the
latest communication technologies and navigation mechanisms such as Dedicated
Short Range Communication (DSRC), Radio Frequency Identification (RFID) and
Global Positioning System (GPS).
Growing
preference for car pools and shared taxis by frequent toll way users, although
intended to share burden of toll charges, is helping reduce number of private
vehicles plying on toll ways, thus reducing traffic congestion and vehicular
pollution. Vehicular emissions have been time and again found to be the main
reason behind deteriorating air quality. Carbon dioxide emissions from vehicles
are especially high during peak traffic hours and during traffic congestions,
which calls for immediate attention. This creates a strong business case for
ETC systems, which by reducing number of vehicles plying on roads, helps cuts
down vehicular emissions substantially.
As stated by
the new market research report on Electronic Toll Collection (ETC) Systems, the
United States represents the largest market worldwide. China ranks as the
fastest growing market with a CAGR of 19.5% over the analysis period of 2013-2020.
China has one of the biggest road infrastructure networks in the world. Through
deployment of effective ETC network, China intends to benefit from advantages
offered by ETC systems such as improved road efficiency as these systems won’t
require vehicles to stop at the toll plaza to pay toll tax.
Major players
in the market include 3M, Atlantia SpA, G.E.A., International Road Dynamics Inc.,
Kapsch TrafficCom AG, Mihailo Pupin Institute, Perceptics Inc., Q-FREE ASA,
Raytheon Company, Sanef, Schneider Electric SA, Siemens AG, Toll Collect GmbH,
Transcore Holdings Inc., TRMI Systems Integration, and Xerox Corporation.
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