The International Bridge, Tunnel and Turnpike Association (IBTTA), headquartered in the United States, is a worldwide association which represents toll facility owners and operators. It has members over 20 countries. IBTTA is currently accepting proposals for consulting and technical services that support the testing, certification and selection of the National Interoperability (NIOP) protocol. The tolling protocol technology selected out of this process will facilitate seamless travel by roadway users of tolling facilities across North America.
According to the report, Growing Use of Advanced RFID (Radio-frequency Identification) and GSM Technology
is one of the primary growth factors for the market. Growing Need for the Safe and Efficient Traffic Management Amid Increasing Number of Vehicle Sales
is also expected to contribute significantly to the Electronic Toll Collection market. Overall, Highway
applications of Electronic Toll Collection, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Sub-system, such as Automated Vehicle Identification (AVI), is boosting the Electronic Toll Collection market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Technology, such as Radio Frequency Identification (RFID), is boosting the Electronic Toll Collection market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Offering, such as Hardware, is boosting the Electronic Toll Collection market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
AMAs Analyst on the Global Electronic Toll Collection market identified that the demand is rising in many different parts of the world as "Infrastructural Developments in Emerging Countries
". Furthermore, some recent industry insights like "The government of India is willing to implement ETC system across the nation to allow commuters to pay tolls without any hassle. National Highway Authority of India (NHAI) is ready to bear 50 % of the cost in setting up the systems while rest would be borne by respective state governments. The move is being taken under National Electronic Toll Collection Program (NETCP) which is being run by Indian Highways Management Company Limited (IHMCL), a company promoted by NHAI. The government is planning to setup the services by March 2020 with chances of further extension. The country has over 500 states and 450 national highway toll plazas. Only 25 state toll plazas offer ETC services as of January 2019 and only 27% NHAI tolling is FASTags enabled." is constantly making the industry dynamic.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Electronic Toll Collection market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Electronic Toll Collection market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall market size is calculated using market estimation process, the market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the market size has been validated using both top-down and bottom-up approaches.