Report Id: SNS/SEMI/2590 | July 2022 | Region: Global | 129 Pages
Report Scope & Overview:
Electronic Toll Collection Market Size was valued at USD 8.38 billion in 2022 and is expected to reach USD 13.57 billion by 2030, and grow at a CAGR of 6.2% over the forecast period 2023-2030.
The electronic toll collection (ETC) system is a high-end technology that allows for automatic toll collection without the driver having to stop. It employs cutting-edge technological solutions such as RFID, DSRC, GPS & GNSS toll collection to efficiently manage traffic in congested areas, thereby easing toll collection.
Electronic toll collection, also known as automated toll collection, is expected to grow in market value over the forecast period due to potential benefits such as increased time efficiency, vehicle identification, and technological advancements. Because of strong government support, the demand for the Electronic Toll Collection market is skyrocketing in developing countries. Tolls are collected by governmental organisations in developed countries on highways, tunnels, and bridges, which contributes to traffic congestion and fatal accidents. In order to reduce such occurrences, they are installing Electronic Toll Collection Systems in addition to traditional Toll Collection Systems to ensure free traffic flow.
Cashless payments provide greater convenience.
There is strong government support for expanding the deployment of electronic toll collection systems.
Increased use of electronic tolling systems to reduce traffic congestion, accidents, and pollution.
Satellite-based GPS technologies are not widely used.
Developmental countries face implementation challenges.
All-electronic tolling systems are becoming more popular.
A growing number of public-private partnership agreements are being signed in the transportation sector.
Blockchain technology integration into toll collection systems.
Problems with toll collection technology selection.
No common technological standards for vehicle recognition.
IMPACT OF COVID-19:
Several manufacturing verticals and production units have seen their growth stifled as a result of the pandemic. The pandemic had a particularly negative impact on the automotive, construction, transportation, and semiconductor industries. Because the manufacturing units were shut down, the supply and chain disruption were exacerbated throughout the pandemic. These elements have had a significant impact on the overall growth of the Electronic Toll Collection industry. Furthermore, raw materials for electronic equipment such as RFID chips, controllers, processors, cameras, and transponders were shipped from countries such as China and the United States to manufacturing units around the world. Because of significant restrictions on global movement and logistics at international borders, raw materials were not transported to manufacturing companies, affecting manufacturing processes as well. As a result, the widespread COVID 19 has had a significant impact on the value of the Electronic Toll Collection Industry.
Based on type, the electronic toll collection market is segmented into Transponder (Tag-based Tolling Systems), and Other Tolling Systems. Based on technology, the electronic toll collection market is segmented into RFID, DSRC, GPS, GNSS, and Others.
Transponders have long been used to identify vehicles. An RFID chip is mounted on the vehicle in this method, particularly near the rear-view mirror. The transponder or tag responds to radio signals transmitted by gantries located in high-traffic areas such as cities or highways. Tolls can be paid with credit or debit cards by vehicle owners. On-board DSRC technology-based transponders deployed on or in vehicles communicate with roadside DSRC technology-based transponder units, which alert the driver to potential safety hazards, toll payments, and parking payments. There are also GNSS-based electronic toll collection systems and transponders on the market.
Based on application, the electronic toll collection market is segmented into Highways, and Urban Areas. Highways play a critical role in making our lives easier. They are necessary for getting from one location to another quickly and efficiently. However, high-speed traffic poses some difficulties. Safety is critical on highways designed for high-speed traffic. The more up-to-the-minute information motorists have about the current traffic situation, the safer they will be while driving. On highways, vehicles travel at high speeds; electronic toll collection systems enable vehicle owners to conduct a convenient digital transaction without stopping at tollbooths. This system has ushered in a new era by making toll collection easier, faster, and more efficient.
The key players in the electronic toll collection market are Abertis, Cubic Corporation, GeoToll, Kapsch TrafficCom, Raytheon Company, Conduent, Denso Corporation, International Road Dynamics, Perceptics, and Siemens.
Transponder (Tag-based Tolling Systems)
Other Tolling Systems
Back-office & Other Services
North America is expected to continue to lead the electronic toll collection market by capturing the largest market share throughout the forecast period, Due to the replacement of legacy payment systems with digital tags, Minimization of component size and the emergence of new technologies such as RFID have the potential to boost demand in the region. The rising number of government initiatives aimed at achieving congestion-free transportation, rapidly increasing vehicle demand and production in North America, and adoption of cutting-edge technological solutions, such as GPS and GNSS toll collection and tracking solutions, are propelling the regional electronic toll collection market forward.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2022||US$ 8.38 Billion|
|Market Size by 2030||US$ 13.57 Billion|
|CAGR||CAGR of 6.2% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Type (Transponder (Tag-Based Tolling Systems), Other Tolling Systems)
• By Offering (Hardware, Back-Office & Other Services)
• By Technology (RFID, DSRC, GPS, GNSS, Others)
• By Application (Highways, Urban Areas)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Abertis, Cubic Corporation, GeoToll, Kapsch TrafficCom, Raytheon Company, Conduent, Denso Corporation, International Road Dynamics, Perceptics, and Siemens.|
|Key Drivers||• Cashless payments provide greater convenience.|
|RESTRAINTS||• Satellite-based GPS technologies are not widely used.
• Developmental countries face implementation challenges.
Frequently Asked Questions (FAQ) :
The market value is expected to reach USD 12 billion by 2028.
The market has been segmented with respect to type, offering, technology and application.
North American region is expected to dominate the Electronic toll collection market.
Yes, and they are Raw material vendors, Distributors/traders/wholesalers/suppliers, Regulatory authorities, including government agencies and NGO, Commercial research & development (R&D) institutions, Importers and exporters, Government organizations, research organizations, and consulting firms, Trade/Industrial associations, End-use industries.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Content:
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
22.214.171.124 United Kingdom
126.96.36.199 South Korea
188.8.131.52 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Electronic toll collection market Segmentation, by type
8.2 Transponder (Tag-based Tolling Systems)
8.3 Other Tolling Systems
9. Electronic toll collection market Segmentation, by offering
9.3 Back-office & Other Services
10. Electronic toll collection market Segmentation, by technology
11. Electronic toll collection market Segmentation, by application
11.3 Urban Areas
12. Regional Analysis
12.2 North America
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4.2 South Korea
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.3 South Africa
12.6 Latin America
12.6.3 Rest of Latin America
13.1 International Road Dynamics.
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.3 Cubic Corporation
13.5 Kapsch TrafficCom
13.6 Raytheon Company
13.8 Denso Corporation
14.1 Competitive Benchmark
14.2 Market Share analysis
14.3 Recent Developments
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