Global Market for Electronic Toll Collection is Anticipated to grow at a Significant Pace i.e., USD 12.2 Billion during the Forecast Period 2021-2027

Published Date: Apr, 2022

The global electronic toll collection market are expected to grow at a CAGR of 7.9% during 2021-2027. The increased adoption of digital technologies in transportation infrastructure, increased demand for cashless travel facility, rise in demand for transportation infrastructure safety and efficiency, technological improvements in the industry, such as GNSS and GPS technology, and government attempts to encourage collection are all driving the electronic toll collection market forward. The electronic toll collection market is influenced by increased investment in toll lanes, the implementation of government new norms and laws surrounding the installation of these systems and tolling, and the convenience and flexibility of cashless payments. Furthermore, the electronic toll collecting market benefits from a high rate of acceptance due to effective solutions for reducing traffic congestion, accidents, and pollution, increased urbanization, improved transportation infrastructure. Electronic toll collecting systems help the environment by reducing the number of emissions generated by vehicles when they start up and stop at manual toll booths. As a result, the electronic toll collecting system is a viable solution for reducing pollution as well as a viable option for maintaining highway lanes during rush hours or any ongoing maintenance activities.

In November 2021, SiVA, a subsidiary of Grupo Marhnos, has chosen Thales to revolutionize toll collection in Guatemala by bringing Thales' well-known PITZ® (Peage Intelligent Transport Zero) electronic toll collection system to the country's critical Palin-Escuintla toll road corridor.

The electronic toll collection market is anticipated to grow post-COVID-19 crisis owing to increased social distancing measures and contactless fell collection which will lead to the growth of the electronic toll collection market.

Browse 74 market data Tables and 45 Figures spread through 200 Pages and in-depth TOC on " Electronic Toll Collection Market by Type (Transponder-/Tag-based Tolling Systems and Other Tolling Systems), by Sub-System Type (Automatic Vehicle Classification (AVC), Violation Enforcement System (VES), Automatic Vehicle Identification System (AVIS), and Others), by Payment Method (Prepaid, Hybrid, and Postpaid), by Technology (Radio-frequency Identification (RFID), Dedicated Short-range communication (DSRC), Infrared, GNSS & GPS, and Video Analytics), by Application (Highways, Bridges, and Urban Areas), and Region - Global Forecast to 2027"

By Application, the highways is anticipated to have the largest market share during the forecast period.

The implementation of electronic toll collecting for highways is driving the industry, especially in emerging nations. Strong government initiatives are projected to add electronic toll collection options to existing toll plazas on highways, resulting in massive growth prospects for the ETC market for highway applications. When it comes to collecting tolls on highways, tunnels, and bridges, ETC systems are critical. High-speed traffic is common on highways, and traffic congestion can result in severe accidents and harmful gas emissions. Governments all over the world are focusing on deploying electronic toll collecting systems on highways in order to assure safety and maintain the free flow of traffic.

Global Electronic Toll Collection Market Segmentation Analysis

Segment

Categorization

Leading Category

Type

Transponder-/Tag-based Tolling Systems and Other Tolling Systems

Transponder (Largest)

Sub-System Type

Automatic Vehicle Classification (AVC), Violation Enforcement System (VES), Automatic Vehicle Identification System (AVIS), and Others

Automatic Vehicle Identification System (High CAGR)

Payment Method

Prepaid, Hybrid, and Postpaid

Prepaid (Largest)

 

Technology

Radio-frequency Identification (RFID), Dedicated Short-range communication (DSRC), Infrared, GNSS & GPS, and Video Analytics

RFID (High CAGR)

 

Application

Highways, Bridges, and Urban Areas

Highways (Largest)

Region

North America, Europe, Asia-Pacific, and Rest of the World

North America

(Largest)

Asia-Pacific (Fastest)

 

Discover More About This Report, Download A Free Sample Copy of the Global Electronic Toll Collection Market

“North America dominates the Electronic Toll Collection market during 2021-2027.”

North America contributes the largest share of the electronic toll collection market because of the enormous number of vehicles, the largest networks of interstate and state highways, the installation of modern toll collection systems, and various ongoing toll installation projects.

Some of the major players in the global Electronic Toll Collection market include Kapsch TrafficCom AG, Conduent Business Services, LLC, EFKON GmbH, Thales Group, Raytheon Technologies Corporation, TransCore, Siemens, Cubic Corporation, Neology Inc., FEIG ELECTRONIC, ad Toshiba Infrastructure Systems & Solutions Corporation.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Type, Sub-System Type, Payment Method, Technology, Application, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

Kapsch TrafficCom AG, Conduent Business Services, LLC, EFKON GmbH, Thales Group, Raytheon Technologies Corporation, TransCore, Siemens, Cubic Corporation, Neology Inc., FEIG ELECTRONIC, ad Toshiba Infrastructure Systems & Solutions Corporation.

Global Electronic Toll Collection Market Coverage

Type Insight and Forecast 2015-2027

  • Transponder-/Tag-based Tolling Systems
  • Other Tolling Systems

Sub-System Type Insight and Forecast 2015-2027

  • Automatic Vehicle Classification (AVC)
  • Violation Enforcement System (VES)
  • Automatic Vehicle Identification System (AVIS)
  • Others

Payment Method Insight and Forecast 2015-2027

  • Prepaid
  • Hybrid
  • Postpaid

Technology Insight and Forecast 2015-2027

  • Radio-frequency Identification (RFID)
  • Dedicated Short-range communication (DSRC)
  • Infrared
  • GNSS & GPS
  • Video Analytics

Application Insight and Forecast 2015-2027

  • Highway
  • Bridges
  • Urban Areas

Geographical Segmentation

Electronic Toll Collection Market by Region

North America

  • By Type
  • By Sub-System Type
  • By Payment Method
  • By Technology
  • By Application
  • By Country – U.S., Canada, and Mexico

Europe

  • By Type
  • By Sub-System Type
  • By Payment Method
  • By Technology
  • By Application
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Type
  • By Sub-System Type
  • By Payment Method
  • By Technology
  • By Application
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Type
  • By Sub-System Type
  • By Payment Method
  • By Technology
  • By Application
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries