San Jose, California (PRWEB) May 16, 2013
Follow us on LinkedIn – Most of the city roads, motorways and highways across the globe are creaking under the pressure of the spiraling 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. Tolling discourages commuters from using private vehicles for frequent travels and encourages adoption of public transportation. 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.
With governments’ long-term transportation planning heavily skewed towards tolling, electronic toll collection systems (ETC) are poised to benefit. ITS enabled electronic toll collection (ETC) systems offer a superior and easy way of collecting road user charges, while simultaneously offering compelling benefits, such as, ability to increase the throughput of vehicles through tolling facilities and reduce cost of transaction processing. The challenges associated with the implementation and operation of traditional toll collection systems such as manual toll collection is driving demand for ETC systems. These systems are rapidly replacing traditional tolling infrastructure in most nations across the globe.
The 2007-2009 recession period witnessed sustained demand for Electronic Toll Collection Systems, supported largely by economic stimulus packages provided by governments across the globe, a major portion of which was earmarked for road construction and development projects. With fiscally challenged governments reducing spending loads and focusing on sustainable methods of funding infrastructural investments, road pricing for generating funds is re-emerging into the spotlight. The scenario provides opportunities for advanced tolling systems, particularly ETC systems, which allow for low cost implementation of sophisticated tolling schemes while simultaneously maximizing revenues for the government.
Innovation and market differentiation are highly critical for the success of ETS projects. In a highly competitive marketplace, service providers need to innovate and offer value-added services in order to differentiate their offerings with those of competitors to gain competitive edge. Differentiation through value-added services is therefore a preferred means for players to increase user patronage for ETC systems.
As stated by the new market research report on Electronic Toll Collection Systems, the United States represents the largest market worldwide. Growth in the country is led by the recent investment of about US$210 billion for Intelligent Transportation Systems and Service infrastructure, a substantial portion of which is being focused on ETC systems. China represents the fastest growing regional market with a projected CAGR of about 20.7% over the analysis period.
Major players in the market include 3M, Atlantia SpA, CS Group, G.E.A., International Road Dynamics Inc., Kapsch TrafficCom AG, Perceptics Inc., Q-FREE ASA, Raytheon Company, Schneider Electric SA, Siemens AG, TRMI Systems Integration, Toll Collect GmbH, Transcore Holdings, Inc., and Xerox Corporation among others.
The research report titled “Electronic Toll Collection Systems: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, growth drivers, recent industry activity, and profiles of major players worldwide. The report provides market estimates and projections in US$ Million across all major geographic markets including the United States, Canada, Japan, Europe (France, Italy, Spain, Austria, Portugal, and Rest of Europe), China, South Korea, and Rest of World.
For more details about this comprehensive market research report, please visit –http://www.strategyr.com/Electronic_Toll_Collection_ETC_Systems_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
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