HOME Research Insight New Product Launches, and Other Activities in the Field of Research and Development in the Electronic Toll Collection Market

New Product Launches, and Other Activities in the Field of Research and Development in the Electronic Toll Collection Market

The electronic toll collection (ETC) market has witnessed enormous developments in the past few years. The companies in North America have witnessed extensive growth and occupy a major market share of the electronic toll collection ecosystem. The companies in North America are mainly concentrating on innovative developments in the electronic toll collection application. Currently, these companies are endorsing a number of contracts, partnerships, agreements, mergers, acquisitions, expansions, new product launches, and other activities in the field of research and development.

The key players in the electronic toll collection market are 3M (US), Xerox Corporation (Conduent Business Services, LLC, US), EFKON AG (Austria), Kapsch TrafficCom (Austria), Q-Free (Norway), and Cubic Transportation Systems, Inc. (US), among others.

Xerox Corporation (US) has been a leader in electronic toll collection for a long time and has an extensive array of products that are used in highway and urban applications. A big advantage that Xerox Corporation has over other competitors in the electronic toll collection market is its extensive product portfolio. For instance, in April 2014, Xerox Corporation launched a vehicle passenger detection system that uses video analytics to identify the number of occupants in a vehicle. This new product is an HOV/HOT lane compliance test system that identifies the number of occupants in a vehicle with better than 95% accuracy at speeds ranging from stop-and-go to 100 mph. The company has all types of technology-based tolling systems, such as RFID, DSRC, GPS/GNSS, and video analytics. The various services offered by the company are automatic toll payment machine, violation image review processing and name and address acquisition services, electronic toll collection back office, and electronic toll collection roadside.

3M (US) is dedicated to providing systems and services to the electronic toll collection market. With broad toll industry experience in systems support, customer service, violations processing, video billing, toll operations, and program management, 3M can provide toll solutions and services to manage and help support an entire project. 3M’s product portfolio combines the hardware needed at lane level—right from open-standard ISO 18000 6C and multi-protocol RFID systems to toll automatic license plate recognition (ALPR) systems and automatic vehicle classifications—with its proven toll back-office software solutions—e.g., fixed ALPR camera system and mobile ALPR camera system. The RFID tags and readers help in electronic toll collection with RFID reader installed on toll and tags on vehicle. The company focuses on inorganic growth through contracts and acquisitions. For instance, in December 2013, 3M announced that it was awarded a 6-year toll system integration contract by the Georgia State Road & Tollway Authority (SRTA). According to the contract, 3M would provide the latest tolling solutions for the state’s foremost reversible tolled lanes. The contract was worth USD 27.7 million, for which 3M would be responsible for the designing and deployment of the toll systems at the roadside. Moreover, in August 2014, 3M completed the acquisition of Sumitomo Electric Industries, Ltd. (Japan) through its subsidiary Sumitomo 3M Ltd. 3M is now the sole owner, and the business will be known as 3M Japan Ltd. Sumitomo Electric Industries, Ltd. was the manufacturer of ITS. This acquisition allows 3M to gain full control of one of 3M’s most successful subsidiaries.

Related Reports:

Electronic Toll Collection Market by Type (ETC and AET), Product (AVI and AVC), Technology (RFID, DRSC, Video Analytics, and GPS/GNSS), Application (Highway and Urban), and Region - Global Forecast to 2022

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