The Advanced Transportation Pricing Systems (ATPS) includes vehicle miles travelled (VMT) fee systems, fee-based express lanes, congestion pricing, and electronic toll collection. Some of the factors driving the growth of the advanced transportation pricing systems market are cashless travel facility, need for saving travel time, and fast toll collection.
According to the U.S. energy information administration projections, the federal fuel tax revenue is expected to increase by about 10% between 2015 and 2030, and reach $39 billion from $36 billion. However, if federal fuel taxes are replaced with VMT fee systems in 2015 at an initially revenue-neutral rate, then the revenue would increase by 33% between 2015 and 2030, and reach $47 billion from $36 billion.
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The objective of electronic toll collection under advanced transportation pricing systems is to remove the time delay on toll roads, by electronically collecting the tolls. Electronic toll collection verifies, whether the car passing from the toll is registered in the program and electronically debits the account of registered road users without compelling them to stop, and alerts enforcers if the car is not registered.
North America accounted for the largest market of advanced transportation pricing systems in 2014. The high penetration of the intelligence transportation system in North America is driving the growth of the advanced transportation pricing systems market in the region. Asia-Pacific is expected to be the fastest growing market during the forecast period. The growing need for crowd management in developing and populous countries, such as India and China is expected to drive the demand of advanced transportation pricing systems in coming years.
The advanced transportation pricing systems increases the safety and efficiency of public transportation systems, and also offers road users with better access to information on system operations. The increased usage of advanced public transportation system is changing the nature of public transportation services and transforming the ways of operation of public transportation systems, which in turn expected to boost the growth of the market during the forecast period. The aim of advanced transportation pricing systems is to increase traveler’s convenience and ridership, and provide more information for effectively making the decision on systems and operations.
Some of the competitors in the global advanced transportation pricing systems market are, TransCore Inc., Kapsch TrafficCom AG, Q-Free ASA, and EFKON AG.
