The electronic toll collection (ETC) systems market has been forecast to reach a value of US$7.3 billion by 2018, driven by growing government focus on tolling as a means to generate funds for road projects, reduce congestion and vehicular pollution.
Most of the city roads, motorways and highways across the globe are creaking under the pressure of the spiralling increases in road vehicles. The resulting traffic congestion leads to fuel wastages, higher risk of vehicular accidents and increase in carbon emissions. Governments across the globe are focusing on implementing tolling practices in a bid to combat the problem.
Electronic toll collection, an adaptation of military "identification friend or foe" technology, aims to eliminate the delay on toll roads by collecting tolls electronically. ETC determines whether the cars passing are enrolled in the program, alerts enforcers for those that are not, and electronically debits the accounts of registered car owners without requiring them to stop.
Tolling discourages commuters from using private vehicles for frequent travels and encourages adoption of public transportation. The growing preference for car pools and shared taxis by frequent toll way users intended to share the burden of toll charges is helping reduce the number of private vehicles plying on toll ways, thus reducing traffic congestion and vehicular pollution.
In addition, the growing popularity of Road User Charging (RUC) as a means to raise finances for construction and maintenance of new and existing roads is making tolling a more permanent arrangement.
The most revolutionary application of ETC is in the urban context of congested cities, allowing charging tolls without vehicles having to slow down. This application made feasible to concession to the private sector the construction and operation of urban freeways, as well as the introduction or improvement of congestion pricing, as a policy to restrict auto travel in downtown areas.
The United States represents the largest market worldwide. Growth in the country is led by the recent investment of approximately US$210 billion for Intelligent Transportation Systems and Service infrastructure, a substantial portion of which is being focused on ETC systems.
For more information on the ETC systems market, see the latest research: ETC Systems Market Research
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