Electronic Toll Collection Market to Rise due to Rising Need to Save Travel Time
Toll when collected electronically in an attempt to eliminate the delay on toll roads is called electronic toll collection (ETC). Electronic toll collection debits the accounts of the owners of the registered cars without stopping.
A new market research report by Transparency Market Research, titled “Electronic Toll Collection Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, throws light on the market for electronic toll collection and elaborates on the recent developments, agreements, and new technologies prevalent in this market. This study also highlights the prime restraints, opportunities, and drivers impacting the growth of the market for electronic toll collection. Along with providing an in-depth analysis of the segmentation of the market in terms of type, application, and geography, the report also presents qualitative evaluation in the form of value chain analysis, Porter’s five forces analysis, and supply chain evaluation.
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According to the report, the market for electronic toll collection is poised to grow due to the growing need to save travel time, minimize traffic congestion, and make toll transactions swifter and more secure. In addition, the growing demand for safe, secure, and improved travel infrastructure will also fuel the market for electronic toll collection. On the other hand, factors such as the soaring cost of installation and the rising dependence on governments are amongst the prime factors that may restrain the growth of the market in the coming years.
As per the report, in terms of types of electronic toll collection systems, the market is segmented into multi-lane free flow electronic collection systems and single-lane electronic toll collection systems. Amongst these, the segment of single-lane systems increases traffic flow by reducing traffic congestion. On the other hand, multi-lane systems are extremely useful on highways for maintaining a non-interrupted flow of traffic and in reducing traffic congestion. In terms of applications, the market is segmented into highways, bridges, and urban locations. Amongst these, electronic toll collection systems are being widely installed on highways, although these systems are sure to be used in bridges and urban areas as well.
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In terms of geography, the report segments the market into Asia Pacific, North America, Europe, and Rest of the World (RoW). Amongst these, North America leads the electronic toll collection market with Canada and the U.S. as the main contributors. North America was trailed by Europe and within Europe, Italy, France, Portugal, and Spain emerged as key markets for electronic toll collection systems. On the other hand, within Asia Pacific, South Korea, Japan, and China have also implemented electronic toll collection systems.
As stated in the report, the chief players dominant in the electronic toll collection market are G.E.A, C-S Communication & Systems, Caseta Technologies, Inc., Transcore Holdings, Inc., Atlantia SpA, Inc., SAIC, Inc., Q-FREE ASA, International Road Dynamics, Kapsch TrafficCom AG, Perceptics LLC, Sirit, Inc., Transtoll, and TRMI Systems Integration, among others.