Electronic Toll Collection Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Electronic Toll Collection Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

The global electronic toll collection market reached a value of US$ 9.78 Billion in 2020. An electronic toll collection (ETC) system is an automated mechanism that utilizes sophisticated cameras and sensors to perform various functions at a toll booth. The ETC can capture images of the vehicle’s registration plate and scan the transponders attached to vehicles to collect the correct toll automatically when the vehicle passes the toll booth. It utilizes various advanced solutions, such as video analytics, Dedicated Short-Range Communications (DSRC), Global Positioning System (GPS) and Global Navigation Satellite System (GNSS) for toll collection and vehicle tracking. This saves travel time of the travellers, offers cashless facility, minimizes congestion at the toll booths and quickens toll transactions.

The development of smart transportation systems, along with the growing requirement of effective traffic management solutions, is among the key factors driving the growth of the market. Furthermore, as a result of the rapidly rising population across the globe, which is leading to increasing on-road vehicles, there is increased adoption of ETC systems across developing nations to manage the additional congestion at toll plazas on highways and roads. Additionally, various technological advancements, including the utilization of real-time tracking and monitoring devices on vehicles and the adoption of radio-frequency identification (RFID) sensors, are favoring the market growth. Apart from toll collection, these systems also aid in tracking stolen automobiles and managing over-speeding vehicles. Other factors, including favorable government policies to improve transportation infrastructure, extensive research and development (R&D) activities and the increasing automation across the automotive sector, are projected to drive the market further. Looking forward, IMARC Group expects the global electronic toll collection market to reach a value of US$ 17.23 Billion by 2026, exhibiting a CAGR of 9.35% during 2021-2026.

Breakup by Technology:

RFID
DSRC
Others

Breakup by System:

Transponder - or Tag-Based Toll Collection Systems
Other Toll Collection Systems

Breakup by Subsystem:

Automated Vehicle Identification
Automated Vehicle Classification
Violation Enforcement System
Transaction Processing

Breakup by Offering:

Hardware
Back Office and Other Services

Breakup by Toll Charging:

Distance Based
Point Based
Time Based
Perimeter Based


Breakup by Application:

Highways
Urban Areas

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa


Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being 3M, Conduent Business Services LLC, Cubic Transportation Systems Inc., Efkon AG, Kapsch Trafficcom AG, Q-Free, Raytheon Company, Schneider Electric, Siemens AG, Thales Group, Trans Core, Transurban Limited Ltd., etc.

Key Questions Answered in This Report:

How has the global electronic toll collection market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global electronic toll collection market?
What are the key regional markets?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the system?
What is the breakup of the market based on the subsystem?
What is the breakup of the market based on the offering?
What is the breakup of the market based on the toll charging?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the market?
What is the structure of the global electronic toll collection market and who are the key players?
What is the degree of competition in the market?