The global electronic toll collection (ETC) system market has been gaining momentum across the developed economies, such as UK, Germany, U.S., Canada, and France. Modernization of ETC technology is expected to act as a driving force for the demand across the developing countries such as China and India. Highways and urban areas are increasingly adopting ETC due to its property of a cashless duty system.
This system can be responsible for facilitating the duty collection process using recent technological solutions such as, DSRC, video, GNSS / GPS, and RFID analysis. As well as effectively responsible for managing traffic on heavily congested areas. The governments of numerous economies are developing regulations and standards for the electronic duty collection systems industry. The value chain of ETC systems include OEMs, suppliers of technology & equipment, operators, and system integrators.
ETC systems are automated, reducing entire manual operations paying duties by the receivers. The overall demand is driven by cashless travel facility, fast duty transactions, the need to save travel time, and the requirement to stop as well as minimize traffic congestion. However, few factors hindering the global industry could be high initial cost of implementation, dependency on government regulations and standards.
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The industry is estimated to continue its rapid expansion in order to cater the growing demand for improved safety and security for infrastructure. The traditional ETC are considered as profitable, fast, and efficient system due to its user-friendly design with easy to use buttons. These systems are estimated to be beneficial for organizations and business to eliminate the requirement of several toll boots to manage traffic and act as a cost saving factor for agencies that operates the congestion on road.
An electronic system of toll collection posses a positive influence on the environment as it decrease the amount of exhaust emitted by numerous vehicles while halting at manual toll booths.
The ETC systems consist of some major component such as communication systems, inductive loops, pedals, film storage devices, in motion weighting devices, scanners, transponder antennas, and camera. An electronic toll collection system includes of numerous sub-systems such as Violation Enforcement System (VES), back-office & integration, Automatic Vehicle Classification (AVC), and Automatic vehicle identification (AVI). These sub systems are majorly useful for specific functions such as vehicle identification by AVI, classification of vehicle by AVC, transaction and collection of fees by incorporating back office services as well as the payment entity and reduce unpaid tolls and imaging of vehicle by VES.
The global industry works on broad four different categories, such as Global Positioning System (GPS), Satellite Navigation System (GNSS), video analysis, Dedicated Short Range Communications (DSRC), and Radio Frequency Identification (RFID). Presently DSRC and RFID are considered as the advanced technologies over others. The ETC system application lies on road, bridges, and urban areas. These systems are majorly implemented on bridges and in urban areas thus has a bright opportunity in the coming future.
Some of the major players in the ETC market include Transurban, Honeywell International, Transtoll, Toll Collect GmbH, Connect –Orient, DENSO, and other prominent players. Manufacturer of ETC eco entity offers a wide range of solutions such as entity incorporation, software services and functions of toll systems consist of payment processing, revenue assurance, and maintenance.
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