The Global Electronic Toll Collection (ETC) System
Market has been gaining momentum across the developed economies, such
as UK, Germany, U.S., Canada, and France. Modernization of ETC technology is
expected to act as a driving force for the demand across the developing
countries such as China and India.Highways and urban areas are increasingly
adopting ETC due to its property of a cashless duty system. This system can be
responsible for facilitating the duty collection process using recent
technological solutions such as, DSRC, video, GNSS / GPS, and RFID analysis. As
well as effectively responsible for managing traffic on heavily congested
areas. The governments of numerous economies are developing regulations and
standards for the electronic duty collection systems industry. The value chain
of ETC systems include OEMs, suppliers of technology & equipment,
operators, and system integrators.
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| Electronic Toll Collection Systems Market |
ETC systems are automated, reducing entire manual operations
paying duties by the receivers. The overall demand is driven by cashless travel
facility, fast duty transactions, the need to save travel time, and the
requirement to stop as well as minimize traffic congestion. However, few
factors hindering the global industry could be high initial cost of
implementation, dependency on government regulations and standards.
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The industry is estimated to continue its rapid expansion in
order to cater the growing demand for improved safety and security for
infrastructure. The traditional ETC are considered as profitable, fast, and
efficient system due to its user-friendly design with easy to use buttons. These
systems are estimated to be beneficial for organizations and business to
eliminate the requirement of several toll boots to manage traffic and act as a
cost saving factor for agencies that operates the congestion on road. An
electronic system of toll collection posses a positive influence on the
environment as it decrease the amount of exhaust emitted by numerous vehicles
while halting at manual toll booths.
The ETC systems consist of some major component such as
communication systems, inductive loops, pedals, film storage devices, in motion
weighting devices, scanners, transponder antennas, and camera. An electronic
toll collection system includes of numerous sub-systems such as Violation
Enforcement System (VES), back-office & integration, Automatic Vehicle
Classification (AVC), and Automatic vehicle identification (AVI). These sub
systems are majorly useful for specific functions such as vehicle
identification by AVI, classification of vehicle by AVC, transaction and
collection of fees by incorporating back office services as well as the payment
entity and reduce unpaid tolls and imaging of vehicle by VES.
The global industry works on broad four different
categories, such as Global Positioning System (GPS), Satellite Navigation
System (GNSS), video analysis, Dedicated Short Range Communications (DSRC), and
Radio Frequency Identification (RFID). Presently DSRC and RFID are considered
as the advanced technologies over others. The ETC system application lies on
road, bridges, and urban areas. These systems are majorly implemented on
bridges and in urban areas thus has a bright opportunity in the coming future.
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Some of the major players in the ETC market include
Transurban, Honeywell International, Transtoll, Toll Collect GmbH, Connect
–Orient, DENSO, and other prominent players. Manufacturer of ETC eco entity
offers a wide range of solutions such as entity incorporation, software
services and functions of toll systems consist of payment processing, revenue
assurance, and maintenance.
Majority of revenue is generated by technologies such as
DSRC and RFID. Deployment of RFID is anticipated to be very strong in North
America whereas, DSRC is driving the industry in the Europe region. Major
players are also concentrating on these two technologies. Key players are
concentrating on these regions owing to their government’s concern to improve
the transportation sector, which demands less traffic congestion. Some of the
strong profiles of major companies include Q-Free and Kapsch TrafficCom, which
are active in the field of ETC entity, projects the growth prospects of the
entity market.
Kapsch TrafficCom AG is one of the suppliers which offers a
wide range of future ETC loans to improve traffic flow, enhance public safety,
improve road safety and help protect the environment by managing access in
urban areas, monitoring and implementation of traffic laws, control traffic
flow, preventing traffic jams and accidents on the roads. The company is
therefore expanding on expansion.The market is expected to witness an increase
in mergers, acquisitions and strategic alliances and move towards consolidation
over the next seven years.
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