Global Electronic Toll Collection Market 2021-2026

    Multi User License - $2,800

    In Stock

    Coming Soon

    GLOBAL ELECTRONIC TOLL COLLECTION MARKET

     

    INTRODUCTION

    Toll collection by electronic means is a mechanism that was implemented to receive toll payments electronically. It allows for easy toll collecting and traffic monitoring.

     

    The electronic toll collecting system makes use of RFID system and therefore is connected to a Central Clearing House (CCH) established by NHAI in partnership with numerous subscribing institutions and NPCIL to enable a quick and easy transaction process. It lets automobiles to pass past it without having to wait for transactions and allows for rapid payment of toll costs from the associated prepaid or savings account.

     

    The Electronic Toll Collection framework is planned in such a manner it can ascertain whether or not automobiles getting passed through toll collection points are enrolled in the initiative, alerts enforcers for unregistered vehicles, and electronically debits the accounts of registered vehicles without requiring the others to stop.

     

    infographic: Electronic Toll Collection Market, Electronic Toll Collection Market Size, Electronic Toll Collection Market Trends, Electronic Toll Collection Market Forecast, Electronic Toll Collection Market Risks, Electronic Toll Collection Market Report, Electronic Toll Collection Market Share

     

    Toll services in India have historically been manual, with money being physically received and collected and toll receipts being printed on computers.

     

    In actuality, the traditional human technique of toll collecting has resulted in delays at collection locations and bottlenecks at toll plazas, resulting in complete anarchy on roadways.

     

    Manual toll collection is the most basic type of toll booths, in which a collectors receives the toll from a booth. Automatic currency dispensers gather a variety of payment methods such as coins, tokens, smart cards, and credit cards without the need for a collector.

     

    ETC is the most sophisticated and recent form of toll collection. Despite the fact that it has been in use for more than 20 years, ETC is still evolving. ETC lanes increase traffic flow speed and efficiency while saving motorists fuel.

     

    GLOBAL ELECTRONIC TOLL COLLECTION MARKET DEVELOPMENTS AND INNOVATIONS

    S No Overview of Development Development Detailing Region of Development Possible Future Outcomes
    1 Toll collection reaches ₹102 crore, free FASTags till March 1 The countywide rollout of FASTags to encourage digital payments at toll plazas has reached 23.2 per cent, the National Highways Authority of India (NHAI) announced Global Scale – India This would enhance better Technologies and production

     

     

    GLOBAL ELECTRONIC TOLL COLLECTION MARKET DYNAMICS

    An ETC technology is capable of billing a toll to a pre-existing user’s account digitally. The technology can assess whether a passing automobile is registered, automatically taxing such cars, and alerting the local highway patrol regarding unregistered users.

     

    The ETC approach allows cars to pass through a toll facility without the driver having to take any action or stop. Typical ETC systems can help to enhance traffic flow through the toll region. Manual toll payment lanes handle around 350 cars per hour, whereas automatic coin system lanes manage approximately 500 vehicles in the very same time frame.

     

    The worldwide electronic toll collection market is expanding due to increased need for improved transportation infrastructure safety and efficiency. Because it reduces transactional expenses for government organizations, electronic toll collecting is a more cost-effective alternative to manned booths.

     

    The global electronic toll collection market is being impacted by an increase in the requirement for traffic congestion reduction due to an increasing number of cars on the road and greater traffic jams. Other causes that are projected include government initiatives for cashless transactions, a rise in government spending for traffic safety and regulation, and the rapid spread of smart city projects in many nations.

     

    The Asia Pacific electronic toll collection market is rapidly developing as a result of technology improvements such as real-time tracking and monitoring of cars using GPS/GNSS and the use of RFID sensors in various nations in the region, including Japan, China, and India.

     

    Rapidly rising vehicle demand and production in emerging and developed nations, as well as altering consumer preferences toward smart vehicles, will all have a favourable impact on the market forecast.

     

    GLOBAL ELECTRONIC TOLL COLLECTION MARKET SEGMENTATION

    The Global Electronic Toll Collection Market can be segmented into following categories for further analysis.

     

    By Application

    • Tires
    • Non-Tire Rubber
    • Plastics
    • Inks and Coatings
    • Others

     

    By Grade Type

    • Automatic Vehicle Classification
    • Violation Enforcement Systems
    • Automatic Vehicle Identification System

     

    By Technology Focus Type

    • RFID Tag
    • DSRC
    • GPS
    • GNSS
    • Video Analytics

     

    By Vehicle Usage Type

    • Prepaid Usage
    • Hybrid Usage
    • Post-paid Usage

     

    By Regional Classification

    • Asia Pacific Region – APAC
    • Middle East and Gulf Region
    • Africa Region
    • North America Region
    • Europe Region
    • Latin America and Caribbean Region

     

    RECENT TECHNOLOGICAL TRENDS IN GLOBAL ELECTRONIC TOLL COLLECTION MARKET

    Because it decreases transactional expenses for government organizations, an electronic toll collecting system is a more cost-effective alternative to a manned booth.

     

    For example, intelligent highway toll collecting solution was created for Taiwan in February 2017, with the potential for sale throughout Europe and Asia.

     

    Far Eastern Electronic Toll Collecting Company (FETC) completed a development (BOT) project for ITS traffic control, which transforms the conventional highway toll collection system into an integrated intelligent electronic toll collection (ETC) system for mac protocols.

     

    AVC systems are made of sensors that are put in toll lanes to identify and categories cars for appropriate tolling.

     

    The AVC approach is most usually used with product and service (laser or infrared detectors) or intelligent sensor loops buried in the asphalt, although detectors may also be installed on the wayside. The sensors can detect and identify cars in open highway toll lanes as well as in electronic tolling scenarios.

     

    Depending on the toll authority’s requirements, camera based VES obtains photos of each vehicle’s front and/or rear license plates. A sensor (or array of cameras), a lighting system, as well as a controllers card or laptop that communicates with the lane controllers and/or this same rear office are all required. A webcam VES with plate recognition provides two functions: enforcement and camera tolling.

     

    COMPETITIVE LANDSCAPE

    Over time, electronic toll collecting (ETC) systems have gotten more efficient and intelligent. Not only are these technologies decreasing the need for physical roadside installations, but they also consider data as an asset, exploiting it to make cashless tolls better efficient and secure.

     

    Nowadays, contemporary toll systems often include a method to track the automobile, some kind of authentication, and a registry and invoicing system. Tracking is done via the global positioning system (GNSS) or at stations all along tolled highway part.

     

    NPCI is one of the leading developer of the electronic toll collection system in the country. The National Payments Corporation of India (NPCI) created the National Electronic Toll Collection (NETC) initiative to satisfy the Indian market’s electronic tolling needs.

     

    It provides a countrywide interoperable toll payment solution, as well as clearing agency services for resolution and dispute resolution. Interoperability in the context of the National Electronic Toll Collection (NETC) system refers to a standard set of processes, business regulations, and technological requirements that allow a customer to use their FASTag as a payment mechanism on any of the toll plazas, regardless of who owns the toll plaza.

     

    FASTag is a gadget that uses RFID technology to make toll payments straight from the prepaid or savings account to which it is attached. It is attached to your vehicle’s windscreen and allows you to drive past toll plazas without pausing for cash deposits.

     

    Raytheon Technologies is provisioning high end toll technology systems based on electronic readability and reliability. Raytheon offers innovative and dependable all-electronic tolling (AET) systems. The company has experience as a leading manufacturer in producing turn-key accessible tolling technologies that interact smoothly with tolling and road traffic solutions.

     

    The company collaborates with the global customers to build AET solutions that reduce expense and risk while optimizing income, simplicity of use, and overall quality, from new construction to system upgrades. It designs vehicle tracking technology to the individual requirements of motorists, concessionaires, and government organizations.

     

    COMPANIES PROFILED

    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2021-2026
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2021-2026
    19 Market Segmentation, Dynamics and Forecast by Application, 2021-2026
    20 Market Segmentation, Dynamics and Forecast by End use, 2021-2026
    21 Product installation rate by OEM, 2021
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2021
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix

     

    0
      0
      Your Cart
      Your cart is emptyReturn to Shop