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Electronic Toll Collection Systems: A Global Strategic Business Report

Global ETC systems market: $7.3 billion industry by 2018


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2014-02-21 13:07:01 - Electronic Toll Collection Systems: A Global Strategic Business Report - a new market research report on companiesandmarkets.com

The global ETC Systems market (Electronic Toll Collection) is forecast to reach 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 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.

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.

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. Global Industry Analysts ©

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