Sellbyville, DE -- (SBWIRE) -- 11/26/2018 -- Electronic Toll Collection Market size is likely to register considerable growth rate in the coming years. Rising demand of effective traffic management owing to increasing on-road traffic and necessity of time savings will drive the electronic toll collection market growth. Enhanced features of these systems such as lesser waiting time, assuring convenience of drivers and operators, cashless travelling facility, less environmental pollution, and reducing traffic congestion at collection plazas are the benefits offered by this technology. Stringent government regulations and standards regarding toll collection coupled with increasing adoption of these systems in urban areas and highways will result in increasing demand of these systems.

Dedicated short-range communications (DSRC) and radio frequency identification (RFID) are the technologies gaining prominence in electronic toll collection market. RFID system utilizes information embedded tags that are read by specifically designed RFID readers. It helps to eliminate manual collection and ticket payments need. RFID card stores the information on records and is rechargeable. Moreover, it allows drivers to pass through the booths without stopping.

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Global networking satellite systems (GNSS) and global positioning system (GPS) will also challenge the traditional systems. GNSS tolling uses Global networking satellite systems (GNSS) sensors in-built in the vehicles and is used mostly in urban areas. This technology is also applicable in insurance, controlling vehicle emissions, and parking. High demand of these systems in Asia Pacific acts as an opportunity for this market. Moreover, emerging all electronic tolling (AET) and open road tolling (ORT) has paved the way for a wide scope in this industry.

Based on products, industry is divided into antennae, transponders, treadles, scanning devices, inductive loops, weigh-in motion devices, film storage devices and cameras. Various subsystems in this segment are Automatic vehicle identification (AVI), violation enforcement systems (VEC), automatic vehicle classification (AVC), back-office & integration. AVI segment is anticipated to dominate the market in the forecast timeline owing to its features such as cost-effectiveness, reliability, and secure collection.

Based on technology, the industry can be categorized into dedicated short range communications (DSRC), radio frequency identification (RFID), global networking satellite systems (GNSS), and global positioning system (GPS). RFID and DSRC technologies currently exhibit an exponential market share and are anticipated to dominate the market in the forecast timeframe owing to their wide applications. GNSS and GPS technologies are expected to showcase a significant growth rate during the forecast timeline owing to their increasing deployment globally in these systems.

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On the basis of applications, industry can be segmented into urban areas, bridges, and highways. Highways are anticipated to account for a major market share in the forecast timeline owing to tremendous increase in installations of electronic toll collection systems across the globe. Moreover, rising on-road traffic has also propelled this segment's growth. Urban areas and bridges are projected to showcase a significant growth rate and wide scope owing to increasing urbanization.

North America is expected to dominate the market share during the forecast timespan owing to heavy deployment of electronic toll collection systems in the developed economies. Stringent government regulations and mandatory standards will propel the industry demand in this region.
Asia pacific is predicted to showcase an exponential growth rate over the forecast timeline owing to high demand of these systems in the emerging economies such as China, India, South Korea, Philippines, Singapore, and Malaysia. Increasing traffic and development of road infrastructure has led to these systems demand, thus fueling the industry growth.

Competitors of the industry include Transurban Limited, Transcore Holdings Inc., Sensor Dynamics, Xerox Corporation, TRMI Systems Integration, G.E.A, SAIC, Perceptics Inc., Q-free, Thales Group, Cubic Transportation Systems, EFKON AG, Kapsch TrafficCom AG, 3M, Connect East, Atlantia SpA, and International Road Dynamics. The industry players focus on continuous upgradations and innovations of these systems for gaining the competitive edge. For instance, on April 7, 2017, Halifax Darmouth Bridge Commissions selected Transcore Holdings Inc. to upgrade the toll systems for Mackay and Macdonald bridges in Canada.

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