Electronic Toll Collection  demand Share Set For Broad Growth By 2031

Electronic Toll Collection: Introduction

• The electronic toll collection system employs a technology that enables electronic payment of toll. The electronic toll collection system uses vehicle-to-toll plaza communication technologies to perform a monetary transaction between a vehicle passing through a toll plaza and the toll collection agency.
• The electronic toll collection system offers hassle-free toll collection and traffic monitoring
• In India, the electronic toll collection system uses an RFID reader that is operated by the National Highway Authority of India (NHAI) in consultation with different banks. It enables direct payment of toll fee from prepaid or savings account linked to it and permits vehicles to pass through a check point without stopping for transactions.
• The electronic toll collection system is a rapid and efficient mode of collection of toll charges at toll plazas. This saves time, as the vehicle passing through a toll plaza does not stop to pay toll, and the payment is automatically paid from the account of the vehicle owner.

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Rise in Demand for Electronic Toll Collection Globally

• Expansion of the global electronic toll collection market is due to a rise in the demand for enhanced safety and efficiency of transportation infrastructure
• Electronic toll collection acts as a cost-effective alternative to a staffed booth, as it lowers transactional costs for government agencies
• The global electronic toll collection market is influenced by an increase in need for reduction of traffic congestion, due to a rise in the number of vehicles on road and increased traffic jams.
• Government initiatives for cashless transactions, increase in government funds for road safety and control, and rapid expansion of smart city projects in various countries are other factors that are expected to propel the global electronic toll collection market

Asia Pacific to Lead Global Electronic Toll Collection Market

• Asia Pacific is a leading region of the global electronic toll collection market due to a rise in the rate of adoption of electronic toll collection systems in developing regions and enactment of government regulations for installation of electronic toll collection systems
• The global electronic toll collection market is expected to expand at a high growth rate during the forecast period due to an increase in the demand for these systems in developing countries such as India and China
• The electronic toll collection market in Asia Pacific is expanding at a rapid pace due to technological advancements such as real-time tracking & monitoring of vehicles through GPS/GNSS and adoption of RFID sensors in several countries, such as Japan, China, and India, in the region

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Key Players Operating in Global Electronic Toll Collection Market

• Cubic Transportation Systems, Inc.
• Siemens AG
• Conduent Incorporated
• Thales Group
• Toshiba Corporation
• Kapsch Group
• TransCore LP

Global Electronic Toll Collection Market: Research Scope

Global Electronic Toll Collection Market, by Subsystem

• Automated Vehicle Identification
• Automated Vehicle Classification
• Violation Enforcement System
• Transaction Processing

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Global Electronic Toll Collection Market, by Technology

• Radio-frequency Identification (RFID)
• Dedicated Short-range communication (DSRC)
• Infrared
• GNSS & GPS
• Video Analytics

Global Electronic Toll Collection Market, by Application

• Urban
• Highways

Global Electronic Toll Collection Market, by Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • ASEAN
  • Rest of Asia Pacific
• South America
  • Brazil
  • Mexico
  • Rest of South America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

• Customer Experience Maps
• Insights and Tools based on data-driven research
• Actionable Results to meet all the business priorities
• Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

• North America
• Asia Pacific
• Europe
• Latin America
• The Middle East and Africa

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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