Electronic toll collection is a type of open tolling system which is being adopted in many countries to make toll collection easier especially in highways & urban areas. The system of toll collection is cashless and the system helps to effectively manage the traffic on congested areas using the modern technologies, such as the GPS/GNSS technology, RFID, DSRC, and video analytics.
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Ensuring free flow of traffic, reducing traffic congestion on highways and in other urban areas, eliminating physical interaction with the system are some of the primary factors boosting the growth of the electronic toll collection system. The likeliness of failure of these systems in adverse climate conditions such as rain, fog, dirt, or the presence of moisture on the tag attached to the vehicle are the factors that might hinder the growth of the market.
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Furthermore, high manufacturing cost of sophisticated tag circuitry hinders the growth of the market. However, increased vehicle safety, improving public transport and formulation of more user friendly standards and regulations for toll collection are some of the major factors that will offer promising growth opportunities in the electronic toll collection systems market.
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The electronic toll collection system market is segmented on the basis of type, technology, application, product and geography. Based on type, the market is segmented into electronic toll collection (ETC) and All Electronic Tolling (AET).
On the basis of product the market is further segmented into AVI and AVC. On the basis of technology the market is segmented into RFID, DSRC, GPS/GNSS, and video analytics ETC systems.
On the basis of application, the report segments the market into urban areas and highways. On the basis of geography, the market is segmented into North America, Europe, Asia-Pacific and LAMEA.
Some of the prominent market players profiled in the report include Xerox Corporation, 3M, Schneider Electric SE, EFKON AG, Siemens AG, Kapsch TrafficCom AG, among others.
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