What is ETC (Electronic Toll Collection) Market?
Electronic Toll Collection is implemented to reduce the traffic. The vehicles did not have to stop for paying the cash as this systems E-Z which uses a transponder activated by an antenna on a toll lane. Development of transportation infrastructure and safety is demanding the electronic toll collection system. Also due to adoption of new technologies in developed and developing countries the market is growing
The market study is being classified by Type (Electronic Toll Collection (ETC), All Electronic Tolling (AET), Automatic Number Plate Recognition (ANPR) and Others), by Application (Highways, Urban and Others) and major geographies with country level break-up.
Xerox (United States), Transcore (United States), Thales (France), Siemens (Germany), Raytheon (United States), Perceptics (United States), Honeywell International, Inc. (United States), Transurban (Australia), Toll Collect Gmbh (Germany) and Trmi Systems Integration (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Sensor Dynamics (Australia), 3m (United States), Connect East (Australia), Denso (Japan) and Q-Free (Norway).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global ETC (Electronic Toll Collection) market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global ETC (Electronic Toll Collection) market by Type, Application and Region.
On the basis of geography, the market of ETC (Electronic Toll Collection) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Technological Advancements GNSS and GPS Technology Adopted by Japan
- Solves the Concerns over the Traffic Congestions
Market Trend
- High Investments are being Done by Government on Toll Lanes
- Increasing Adoption of Electronic Toll Collection Systems
Restraints
- High Costs Associated with Installation and Maintenance of the System
- Delay in Government Approvals for Electronic Toll Collections
Opportunities
- Development of Transport Facilities and Infrastructures in Developing Countries
- Growing Research and Development Activities for the Technology.
Challenges
- Dependent on the People to Adopt the Technology
Market Leaders and some development strategies
In 2019, the Transport Ministry in India is Planning to make Electronic Toll Collection mandatory on all national highways in the Country to reduce congestion at toll plazas
Key Target Audience
Technology Providers, Research Organisations, Technology Investors, Venture Capitalists and Government Organisations