Electronic Toll Collection Market by Technology (RFID, DRSC, Video Analytics, and GPS/GNSS), Product.
Portland, OR -- (SBWIRE) -- 08/25/2017 -- Electronic toll collection is used to collect tolls on roads by electronic methods. This technology determines that the cars and other automobiles that pass through the toll are enrolled in the system. If not, it alerts the tax collectors that the respective cars are not enrolled in the system. The toll from the enrolled cars is automatically debited, thus avoiding the need for the car to stop at the collection counter.
The electronic toll collection market is segmented based on technology, product, application, and geography. On the basis of technology, the market is divided into RFID, DRSC, video analytics, and GPS/GNSS. On the basis of product, it is bifurcated into AVI and AVC. By geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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The ease and luxury in the transit from one region to another is of prime importance for the consumers. As the car does not stop for toll payment, the collection is completed in no time and there is no traffic on the road, which majorly drives the growth of the market. The use of this technology reduces the possibility of non-payment scam, which makes the toll booths collection effective. It also reduces the manpower required for the toll collection, which propels the market towards rapid growth. However, the difficulty in commercialization of the technology and high cost toward installation of the equipment restrains the market growth.
Market By Product
- Automatic Vehicle Identification (AVI)
- Automatic Vehicle Classification (AVC)
- Back Office and Integration
- Violation Enforcement System (VES)
Key players operating in the market include 3M, Xerox Corporation, Conduent Business Services, LLC, Q-Free ASA, Cubic Transportation Systems, Inc., Siemens AG, Thales Group, Transurban Limited, International Road Dynamics, Inc., and Raytheon Company.
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- Radio-frequency Identification (RFID)
- Dedicated Short-Range Communication (DSRC)
- Global Positioning System/Global Navigation Satellite System (GPS/GNSS)
- Video Analytics
- Highway tolling
- Urban tolling
- North America
o Rest of Europe
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