The Global Market for Electronic Toll Collection (ETC) Systems is Projected to Reach US$9.3 Billion by 2022

Need to Avoid Lengthy Waiting Lines at Toll Plazas Drives the Global Market for Electronic Toll Collection (ETC) Systems, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Electronic Toll Collection (ETC) Systems market. The global market for Electronic Toll Collection (ETC) Systems is projected to reach US$9.3 billion by 2022, driven by the growing need to avoid lengthy waiting lines at toll plazas on highways and urban motorways and the subsequent demand for effective tolling systems.

Electronic Toll Collection (ETC) systems are bringing in massive changes to toll collection methods, enabling significant time/cost savings and greater convenience for commuters, while simultaneously generating greater revenues for operating agencies. Given the challenges associated with the implementation and operation of traditional manual toll collection systems, ETC systems are growing in popularity and are fast replacing the traditional tolling infrastructure in most countries worldwide. Progressive developments in ETC technologies are positively influencing governments across the world to make bulk investments in ETC toll lanes. 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. New generation 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 efficient communication technologies and navigation mechanisms such as Dedicated Short Range Communication (DSRC), Radio Frequency Identification (RFID) and Global Positioning System (GPS).

Vehicular emissions are continuously in the spotlight as the main reason behind deteriorating air quality. Carbon dioxide emissions from vehicles are especially high during peak traffic hours and during traffic congestion, which calls for immediate attention. This creates a strong business case for ETC systems which help reduce traffic congestions and vehicle engine idling time, which is a key reason for increased fuel burn and emissions. Continued government support in formulating new standards and policies with respect to tolling and ETC implementations and regulations governing safety, security and reliability of transport systems and toll collection infrastructure on highways and urban areas will remain crucial for the future of the ETC systems market.

As stated by the new market research report on Electronic Toll Collection (ETC) Systems, the United States represents the largest market worldwide. China continues to remain the fastest growing market with a CAGR of 22.4% over the analysis period. Despite the recent economic slowdown, China by virtue of its extensive road infrastructure network which is the largest in the world continues to generate considerable growth prospects for ETC systems.

Major players in the market include 3M, Atlantia SpA, G.E.A., International Road Dynamics Inc., Kapsch TrafficCom AG, Perceptics Inc., Q-FREE ASA, Raytheon Company, Sanef, Schneider Electric SA, Siemens AG, TRMI Systems Integration, Toll Collect GmbH, Transcore Holdings Inc., and Xerox Corporation among others.

The research report titled “Electronic Toll Collection (ETC) Systems: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Italy, Spain, Austria, Portugal and Rest of Europe), China, South Korea and Rest of World.

Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.