$10+ Billion Electronic Toll Collection Market - Global Forecast to 2023

Monday, 03. December 2018 16:32

Dublin, Dec. 03, 2018 (GLOBE NEWSWIRE) -- The "Electronic Toll Collection Market by Technology (RFID, DSRC, & Others (ANPR/ALPR, and Satellite-Based)), Offering (Hardware, and Back Office and Other Services), Application (Highways and Urban Areas), Type, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The overall ETC market is estimated to grow from USD 7.1 billion in 2018 to USD 10.7 billion by 2023, at a CAGR of 8.54%

An effective solution to overcome traffic congestion with improved traffic flow per lane, increased allocation of funds for the deployment of ITS by various governments, reduced environmental pollution using ETC systems, improved convenience due to cashless travel facility, and development of smart cities across the world are the major factors driving the ETC market growth.

Increasing investment opportunities in economically and technologically developing countries, rising number of public-private partnership (PPP) agreements in the transportation sector, and growing transition to all-electronic tolling (AET) systems are likely to provide opportunities to the players in the ETC market. On the other hand, slow growth in the infrastructure sector in underdeveloped countries and high operating costs are major restraints for the market growth.

Highways application is expected to grow at a higher rate during the forecast period

Demand for ETC systems for highways application is expected to increase during the forecast period. Vehicles are driven at high speeds on highways; ETC systems help vehicle owners carry out a convenient transaction without the need to stop at tollbooths. This system has brought a new revolution, which has made the process of toll collection simple and effective. Previously, a toll collector or attendant was employed at toll gates to collect a toll based on vehicle classification.

In this method, a collector accepts the toll amount, makes the entry of a vehicle in the system, and issues receipt to the driver. Due to this manual intervention, the processing time was very high. This method resulted in significant congestion at many toll stations, thereby increasing pollution and travel time, as well as decreasing accommodation capacity of vehicles per hour.

Americas is expected to hold the largest size of the ETC market during the forecast period

The Americas is a major region responsible for the growth of the ETC market. TransCore (US), Raytheon (US), Conduent (US), Cubic transportation System (US), Neology (US), Electronic Transaction Consultants (ETC) Corporation (US), Geotoll (US) are among a few key players that are based in North America. These companies have majorly contributed to the growth of the electronic toll collection market in the Americas. The US is the major contributor to the ETC market. According to IBTTA, the US toll agencies in 35 states operate installed ETC equipment (i.e., roadside infrastructure, toll tags, and related systems) that are worth hundreds of millions of dollars.

They generate more than nearly USD 13 billion of annual revenue while maintaining almost 45 million toll accounts across the country. In California, Florida, New Jersey, Pennsylvania, Texas, and Delaware, vehicles cross toll roads at high speed. Hence, it has become important to implement ETC systems in these states to control traffic control and avoid accidents. The growth of the ETC market in the US is driven by several benefits offered by ETC solutions such as reduction in traffic congestion, fuel consumption, and travel time, as well as the decrease in manual errors while collecting tolls.

Kapsch AG (Austria), Raytheon (US), TransCore (US), Conduent (US), Thales (France), Cubic Transportation (US), Siemens AG (Germany), EFKON GmbH (Austria), VINCI (France), and Neology (US) are a few leading players in the ETC market.

Key Topics Covered:

1 Introduction
1.1 Study Objectives
1.2 Definition
1.3 Study Scope
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Electronic Toll Collection Market
4.2 Electronic Toll Collection Market, By Type and Offering
4.3 Electronic Toll Collection Market, By Technology
4.4 Electronic Toll Collection Market, By Application
4.5 Electronic Toll Collection Market, By Region

5 Market Overview
5.1 Market Dynamics
5.1.1 Drivers
5.1.1.1 Effective Solution to Overcome Traffic Congestion With Improved Traffic Flow Per Lane
5.1.1.2 Increased Allocation of Funds for the Deployment of Its By Various Governments
5.1.1.3 Reduced Environmental Pollution Using ETC Systems
5.1.1.4 Improved Convenience Due to Cashless Travel Facility
5.1.1.5 Development of Smart Cities Across the World
5.1.2 Restraints
5.1.2.1 Slow Growth in Infrastructure Sector in Underdeveloped Countries
5.1.2.2 High Operating Costs
5.1.3 Opportunities
5.1.3.1 Increasing Investment Opportunities in Economically and Technologically Developing Countries
5.1.3.2 Rising Number of Public-Private Partnership (PPP) Agreements in Transportation Sector
5.1.3.3 Increasing Transition to All-Electronic Tolling (AET) Systems
5.1.4 Challenges
5.1.4.1 Challenges Related to Interoperability, Standardization, and Toll Technology Selection
5.2 Value Chain: ETC Market

6 Industry Trends
6.1 Interoperability Types and Burning Issues
6.1.1 Interoperability of Network, Devices, and Contracts in Tolling
6.1.2 Need for Improved Transport and Infrastructure
6.1.3 Stagnant Gas Tax Rates in Americas

7 Electronic Toll Collection Market, By Type
7.1 Introduction
7.2 Transponder- Or Tag-Based Tolling Systems
7.2.1 Transponders/Tags Have Witnessed High Adoption Due Their Applicability in RFID, DSRC and Satellite Based Tolling
7.3 Other Tolling Systems
7.3.1 Use of Video Analytics Decreases the Possibility of Scams and Frauds Related to Toll Violation

8 Electronic Toll Collection Market, By Technology
8.1 Introduction
8.2 Radio-Frequency Identification (RFID)
8.2.1 RFID Tags are Cheaper as Compared to GNSS and DSRC Tags
8.3 Dedicated Short-Range Communication (DSRC)
8.3.1 DSRC Based Tags Remain Unaffected By Privacy/Data Protection Issues
8.4 Other Technologies
8.4.1 Video Analytics /ANPR/ALPR
8.4.1.1 Video Analytics Helps in the Identification of Vehicles With Invalid Tags Passing Through the Toll Systems
8.4.2 Global Navigation Satellite System/Global Positioning System (GNSS/GPS)
8.4.2.1 The Popularity of Satellite Based Tolling is Increasing Owing to Its Less Infrastructural Costs
8.4.3 Weight-Based Tolling
8.4.3.1 By Detecting Overloaded Vehicles, Weigh-Based Tolling Have Additionally Contributed to the Safety of the Vehicles

9 Electronic Toll Collection Market, By Offering
9.1 Introduction
9.2 Hardware
9.2.1 Hardware of ETC Systems Comprises of Roadside Equipment and On-Board Units (OBUs)
9.3 Back Office and Other Services
9.3.1 Back Office Services Contribute to Account Management, Billing, Legal Support, and Inquiry Handling

10 Electronic Toll Collection Market, By Application
10.1 Introduction
10.2 Highways
10.2.1 Highways is the Prominent Application for the ETC Systems
10.3 Urban Areas
10.3.1 ETC Systems Have Helped in Reducing Traffic Congestion Issues in Urban Areas

11 Parameters for Charging Toll Amount
11.1 Introduction
11.2 Distance Based
11.2.1 Distance Based Tolling is Categorized as Closed Tolling and Open Tolling
11.3 Point Based
11.3.1 Point Based Tolling Charges Fixed Amount of Tolling Irrespective of the Distance Travelled
11.4 Time Based
11.4.1 Time Based Tolling Charges Drivers for Utilizing Partial Or Whole Road Network
11.5 Perimeter Based
11.5.1 Perimeter Based Tolling is Also Referred as Congestion Charge at Some Places

12 Geographical Analysis
12.1 Introduction
12.2 Americas
12.2.1 North America
12.2.1.1 Us
12.2.1.1.1 US is the Largest Market for ETC in North America Region
12.2.1.2 Canada
12.2.1.2.1 Canada ETC Market is Expected to Grow at A Higher CAGR Owing to Significant Investment By ETC Players
12.2.1.3 Mexico
12.2.1.3.1 Highways are Expected to Be the Largest Contributors in the ETC Market of Mexico
12.2.2 South America
12.2.2.1 Brazil
12.2.2.1.1 Sao Paulo Was the First Multi-Lane Free-Flow (Mlff) Toll System in Brazil in 2013
12.2.2.2 Rest of South America
12.2.2.2.1 Chile, Paraguay, Peru, and Guyana are the Major Contributors to the ETC Market in Rest of South America
12.3 Europe
12.3.1 UK
12.3.1.1 Enhanced Technologies, Increased Concerns to Address Traffic Problems to Drive ETC Market in the UK
12.3.2 Germany
12.3.2.1 Advanced Transportation Infrastructure in Germany has Propelled the Growth of ETC Systems
12.3.3 France
12.3.3.1 Deployment of ETC Systems is Well Established in France
12.3.4 Italy
12.3.4.1 Italy has Resolved Interoperability Issue With the Use of Telepass
12.3.5 Rest of Europe
12.3.5.1 Economies Such as Austria, Ireland, and Spain to Drive ETC Market in This Region
12.4 APAC
12.4.1 Japan
12.4.1.1 Japan is Among the Major ETC Contributors in the APAC Region
12.4.2 China
12.4.2.1 Heavy Investment By the Government in Its has Propelled the Growth of ETC Market in China
12.4.3 South Korea
12.4.3.1 South Korea has Done Major Developments in Electronic Tolling Systems Like Hi-Pass Cards
12.4.4 Australia
12.4.4.1 ETC Market in Australia is Expected to Grow at A High CAGR During Forecast Period
12.4.5 Rest of APAC
12.4.5.1 Emerging Economies to Drive the ETC Market in Rest of APAC
12.5 RoW
12.5.1 Middle East
12.5.1.1 UAE
12.5.1.1.1 UAE has Well Organized ETC Market With Salik
12.5.1.2 Rest of Middle East
12.5.1.2.1 Deployment of ETC Systems in Rest of Middle East is Expected to Grow in the Upcoming Years
12.5.2 Africa
12.5.2.1 South Africa
12.5.2.1.1 Sanral is an Operator of the Toll Roads in South Africa
12.5.2.2 Rest of Africa
12.5.2.2.1 Rest of Africa to Grow Gradually in the Upcoming Years Owing to the Improved Need of Infrastructure

13 Competitive Landscape
13.1 Overview
13.2 Market Ranking Analysis (2017)
13.3 Competitive Scenario
13.4 Recent Developments (Top 5 Players)

14 Company Profiles
14.1 Key Players
14.1.1 Kapsch Trafficcom AG
14.1.2 Transcore (Roper Technologies)
14.1.3 Raytheon Company
14.1.4 Conduent Incorporated (Formerly Xerox Corporation)
14.1.5 Thales Group
14.1.6 Cubic Transportation Systems, Inc.
14.1.7 Vinci
14.1.8 Siemens AG
14.1.9 Efkon GmbH
14.1.10 Neology (Formerly 3M)
14.2 Other Key Players
14.2.1 Toshiba
14.2.2 Mitsubishi Heavy Industries, Ltd.
14.2.3 Abertis
14.2.4 Q-Free
14.2.5 Quarterhill (International Road Dynamics)
14.2.6 Tecsidel S.A.
14.2.7 Perceptics
14.2.8 Star Systems International
14.2.9 G.E.A.
14.2.10 Electronic Transaction Consultants (ETC) Corporation
14.2.11 Arh Inc.
14.2.12 Sociedad Ibrica De Construcciones Elctricas, S.A. (SICE)
14.2.13 Autostrade Per L'italia Spa (Atlantia)
14.2.14 Jenoptik
14.2.15 Norbit
14.3 Key Innovators
14.3.1 Far Eastern Electronic Toll Collection Co. (FETC)
14.3.2 Toll Collect GmbH
14.3.3 Geotoll
14.3.4 Indra Sistemas, S.A.
14.3.5 Kistler Group
14.3.6 American Traffic Solutions

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