The global electronic toll collection market size was US$ 6.2 billion in 2020. The global electronic toll collection market is forecast to reach the US $18.9 billion by 2030 and will grow at a compound annual growth rate (CAGR) of 11.80% during the forecast period from 2021-2030.
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Electronic toll collection (ETC) is a high-end technology that allows drivers to collect tolls without stopping. Utilizing the latest technological solutions, such as DSRC, GPS & GNSS toll collection and tracking solutions, and video analytics, it manages traffic efficiently in high-traffic areas, which eases the toll collection process.
Factors Influencing the Growth
- The global electronic toll collection market is growing due to the rising demand for safer and more efficient transportation infrastructure.
- Electronic toll collection is growing due to technological advancements, such as GNSS and GPS technology incorporated by Japan into their electronic toll collection systems. This technology has forced governments globally to invest heavily in toll lanes, fueling market growth.
- Government support for developing new standards and regulations concerning these systems and tolls has propelled the industry’s growth.
- Installation costs are high, along with operating and maintenance costs, which negatively impact the market’s growth.
- Increased adoption of electronic toll collection systems in developing regions and stringent government regulations towards their implementation will offer lucrative growth potential.
Impact Analysis of COVID-19
Several aspects of the global electronic toll collection market have been affected by the Coronavirus (COVID-19) pandemic. Global economic and capital market uncertainty have collapsed demand of the market. In addition to the threat of infection, governments have restricted movement, making the crisis even more unpredictable.
Electronic toll systems use a variety of electronic devices, such as control devices, cameras, transponders, and RFID chips. In the wake of COVID-19’s pandemic, China and the United States, which provide raw materials and components, have been severely affected. As a result of the closure of borders and resulting nationwide lockdowns imposed by government authorities globally, the supply chain for electronic components and devices has been directly affected. Delays in the supply of raw materials to manufacturers and the delivery of products to integrators were limited by strict regulations and guidelines in transacting countries.
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Regional Analysis
North America is forecast to lead the Electronic Toll Collection market by capturing the largest market share during the forecast period. A major reason for the growth of ETC is the large number of personal vehicles in the USA and Canada. Also, these countries maintain extensive networks of state and interstate highways and electronic toll collection systems at several locations and some toll installations on highways with heavy traffic.
Leading Competitors
The leading prominent companies in the global electronic toll collection market are:
- Autostrade Per L’italia SPA
- Jenoptik
- Q-Free ASA
- Cubic Corporation
- Xerox Corporation
- Thales SA
- Kapsch Traffic AG
- Conduent Inc
- Siemens AG
- Quarterhill Inc
- Raytheon Co
- Other Prominent Players.
Scope of the Report
The global electronic toll collection market segmentation includes Technology, Type, Means of Collection, Application, and Region.
Segmentation based on Technology
- Radio-frequency Identification (RFID)
- Dedicated Short-range Communication (DSRC)
- Infrared
- GNSS & GPS
- Video Analytics
- Others
Segmentation based on Type:
- Transponder-/Tag-based Tolling Systems
- Other Tolling Systems
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Segmentation based on Means of Collection
- Prepaid
- Postpaid
Segmentation based on Application
- Highways
- Urban Zones
Segmentation based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
What is the goal of the report?
- The market report presents the estimated size of the market at the end of the forecast period. The report also examines historical and current market sizes.
- During the forecast period, the report analyzes the growth rate, market size, and market valuation.
- The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
- The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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