Electronic Toll Collection Market 2021 Report Explains all about Industry Growth, Size and Worldwide Outlook – 2030

The Global Electronic Toll Collection (ETC) Market size was valued at USD 7.68 billion in 2019 and is predicted to reach USD 18.46 billion by 2030 with a CAGR of 8.3% from 2020-2030.

Electronic toll collection system is a leading-edge technology that automatically collects the toll fare at places like toll roads, toll bridges, toll tunnels, and HOV lanes based on vehicle's use of the road. Electronic toll collection systems also help reduce traffic congestions at toll booths since it doesn’t require drivers to stop for paying the toll. These systems use DSRP, GPS, GNSS toll collection and tracking solutions along with video analytics to efficiently manage traffic in highly congested areas, and thereby easing the toll collection process. It also helps city authorities to efficiently keep track of vehicles entering a particular city. Electronic tolling is a cheaper alternative to staffed toll booth that not only makes the tolling process efficient but also reduces transaction costs for government as well as private road owners.

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Top Companies: 3M, Transcore Holdings, Inc., Xerox Corporation, TrafficCom, TRMI Systems Integration, Sensor Dynamics, Toll Collect GmbH, Kapsch, Cubic Transportation Systems, Inc., Q-Free and others.

Market Dynamics and Trends

Increase in digitalization of cash transactions along with the modernization of transportation infrastructure are the factors driving the growth of the electronic toll collection market. Also, increasing focus towards traffic safety is expected to propel the market growth. Correspondingly, the electronic toll collection system serves as an efficient alternative to the traditionally staffed toll booth saving a significant sum of money being sent towards salaries. Moreover, technological advancements coupled with increase in traffic congestions has further driven the demand for electronic toll collection market. However, high installation cost along with maintenance and operational challenges are expected to hamper the market growth to some extent.

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Market Segmentations and Scope of the Study:

The global electronic toll collection market share has been segmented on the basis of subsystem, technology, application and geography. On the basis of subsystem, the electronic toll collection market is segmented into automated vehicle identification, automated vehicle classification, violation enforcement system and transaction processing. On the basis of technology, the electronic toll collection system is segmented into radio frequency identification, dedicated short range communication, infrared, GPS/GNSS and video analytics. On the basis of application, the electronic toll collection market is segmented into urban and highway. Based on geography the market is segmented into North America, Europe, Asia Pacific and RoW.

Geographical Analysis

North America is expected to continue holding the major market share owing to the U.S. government’s plan to spend trillions of dollars towards infrastructure. The U.S. has the one of the largest modern road networks across the world, and to manage the road traffic, an effective toll collection system becomes important. In the majority of North American countries, toll bridges and tunnels are used for revenue generation in order to repay long-term debt issued to finance the toll facilities. Some of the states simply use these booths as a source for generating general tax funds. Known for its infrastructural developments, the region provides a great scope for further developments in electronic toll collection system backed by government support.

However, Asia Pacific is also expected to show tremendous growth over the forecast period owing to the increase in cashless transaction with digitization. Also, growing demand for effective toll collection in order to maintain the efficiency of road traffic is further expected to support the growth of electronic toll collection market in this region. The rising road network in APAC countries such as China and India is expected to boost the ETC market in these regions. Also, some developing countries in the APAC region provide great opportunities for ETC players to expand their market presence. The region has seen significant developments in recent years as countries such as Japan and China have deployed high end RTC systems (DSRC with 5.8GHz and video analytics techniques).

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