Growing Popularity of Road User Charging, Urgent Need to Prevent Vehicular Congestion at Toll Plazas & Reduce Transaction Costs to Spur Growth in the Electronic Toll Collection (ETC) Systems Market

The global Electronic Toll Collection (ETC) Systems market is projected to reach US$11 billion by 2024, driven by the growing popularity of road user charging, need to prevent congestion, and reduce environmental pollution and transactional costs at toll plazas.

Tolls are important constituents of a nation’s economy, since these generate huge revenues for the government, which invests the same in expanding existing roads and highways network, undertaking repairs of roads and highways, and improving operational efficiency of transport sector. The market for electronic toll collection (ETC) systems market is expected to benefit significant from efforts to increase tolling as a measure to deal with rising traffic congestion and resultant environmental pollution. ETC systems are also an economical alternative to staffed booths, as they cut down transactional costs. Designed to transform traditional toll collection procedures, ETC systems are enabling significant time/cost savings and better convenience for commuters, while simultaneously generating increased revenues for operating agencies. Given the challenges associated with the implementation and operation of traditional manual toll collection systems, ETC systems are fast growing in popularity.

Growing need for safe, secure and improved infrastructure network continues to fuel growth in the global ETC systems market, as these systems ensure faster, cost effective and efficient services, and offers advantages due to their user-friendly design and easy operations. Also driving growth will be the increasing need to save travel time, accelerate pace of toll transactions, and enable cashless travel. The need for effective traffic management to avoid congestion at toll collection centers along with growing number of facilities accepting cashless traveling are driving growth in the global ETC systems market. Government regulations to enhance safety, security, and reliability on both highways and in urban areas are vital to the growth of ETC systems. Increased demand for ETC systems on highways and motorways will also be driven by the projected increase in investments on ETC projects over the next few years. The adoption of ETC systems also has a positive impact on the environment due to the technology’s ability to cut down wait time and thus reduce fuel consumption and associated pollutions at toll plazas.

As stated by the new market research report on Electronic Toll Collection (ETC) Systems, the United States represents the largest regional market, worldwide. The region’s large share is attributed to the large number of heavy vehicles and passenger four wheelers operating on the roads along with the well-developed nature of roads and highway infrastructure. Tolling backed by ETC systems is forecast to continue playing a major role in the country’s transportation development strategy. China is forecast to register the fastest CAGR of 17.1% over the analysis period. The country's aggressive road network expansion policies bode well for the growth of the ETC market in the country. Also, given the high number of tolls in stations in China and the government’s commitment to the strategy of charging to pay for development and maintenance of road infrastructure, ETC is poised to gain immensely in the upcoming years.

Major players in the market include Abertis, Sanef, Atlantia S.p.A, Conduent Inc., Cubic Corporation, DENSO CORPORATION, EFKON AG, Far Eastern Electronic Toll Collection Co., Ltd. (FETC), G.E.A., GeoToll, International Road Dynamics Inc., Kapsch TrafficCom AG, Perceptics LLC, Q-Free ASA, Raytheon Company, Siemens AG, Star Systems International Limited, Thales Group, The Revenue Markets Inc. (TRMI), Toll Collect GmbH, and TransCore Holdings Inc., 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.

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