Electronic Toll Collection Global Market Report 2024

Description

Electronic toll collection (ETC) is an automated system designed to gather tolls on highways, bridges, tunnels, and other roadways without necessitating vehicles to halt or decelerate at toll plazas. This technology offers drivers convenience by enabling uninterrupted passage through toll points, eliminating the need for cash payments or queuing at toll booths.

The primary types of electronic toll collection systems include Automatic Vehicle Classification (AVC), Violation Enforcement System (VES), Automatic Vehicle Identification System (AVIS), and other variants. AVC is a technology-driven system employed to identify and categorize vehicles based on their attributes such as size, weight, and axle count. These classifications serve various purposes including toll collection and traffic management. Payment methods typically involve prepaid, hybrid, and postpaid options, which are supported by technologies such as Radio Frequency Identification (RFID), Dedicated Short-Range Communication (DSRC), Global Navigation Satellite System (GNSS) or GPS, video analytics, cell phone tolling, and others. These technologies are utilized across highways and urban areas for efficient toll collection processes.

The electronic toll collection market research report is one of a series of new reports from The Business Research Company that provides electronic toll collection market statistics, including electronic toll collection industry global market size, regional shares, competitors with electronic toll collection market share, detailed electronic toll collection market segments, market trends, and opportunities, and any further data you may need to thrive in The electronic toll collection industry. This electronic toll collection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The electronic toll collection market size has grown strongly in recent years. It will grow from $7.97 billion in 2023 to $8.71 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth observed in the historic period can be attributed to various factors, including an increasing demand for effective traffic management, widespread adoption of digital technologies, the necessity to enhance the speed and efficiency of traffic flow, a growing requirement for efficient toll-collection solutions, and the broader utilization of advanced technologies for transportation purposes.

The electronic toll collection market size is expected to see strong growth in the next few years. It will grow to $12.59 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The anticipated growth in the forecast period can be attributed to several factors, including the escalating traffic volumes on highways, growing adoption of video analytics, increasing use of digital toll payment methods alongside rising investments in highway construction, growing demand for contactless operations at toll plazas, and heightened awareness regarding road accidents and traffic congestion. Key trends expected during this period include the integration of advanced technologies, a shift towards all-electronic tolling (AET), emphasis on interoperability and standardization, adoption of mobile-based solutions, and a focus on enhancing user experience and customer service.

The electronic toll collection market is poised for growth driven by the increasing traffic on highways. Highway traffic, influenced by factors such as congestion and transportation demand, often leads to delays and congestion at traditional toll booths. Electronic toll collection systems eliminate the need for vehicles to stop or slow down at toll plazas, ensuring seamless passage and reducing travel times for commuters. This efficiency enhances the throughput capacity of highways, accommodating the growing volume of traffic without significant delays. For instance, Interwest Safety Supply, LLC reported a significant increase in vehicle miles traveled on US roads in 2021 compared to 2020, highlighting the escalating demand for electronic toll collection systems to manage highway traffic effectively.

Key players in the electronic toll collection market are prioritizing the development of advanced solutions to enhance system efficiency. In January 2024, the National Highways Authority of India (NHAI) introduced the 'One Vehicle, One FASTag' initiative to streamline toll operations and improve user experience at toll plazas. This initiative discourages the use of a single FASTag for multiple vehicles and encourages FASTag customers to comply with Know Your Customer (KYC) requirements. By implementing this initiative, NHAI aims to ensure smooth and comfortable rides for users of national highways, thus driving the adoption of electronic toll collection systems.

In October 2021, in a strategic move to bolster its presence in the smart mobility sector, Singapore Technologies Engineering Ltd. acquired TransCore for $2.68 billion. This acquisition provides Singapore Technologies Engineering Ltd. with access to TransCore's market-leading end-to-end tolling solutions, strengthening its position in the electronic toll collection market. TransCore, a US-based transportation company specializing in electronic tolling, offers innovative solutions to enhance mobility, trade, and toll collection efficiency for toll agencies.

Major companies operating in the electronic toll collection market are Raytheon Technologies Corporation, Mitsubishi Heavy Industries Ltd., Thales Group, Infineon Technologies AG, Siemens Mobility, Ferrovial S.E., Xerox Holdings Corporation, Conduent Inc., TransCore, Cubic Corporation, SKIDATA GmbH, VITRONIC, Kapsch TrafficCom, IBI Group Inc., Neology Inc., Sensys Gatso Group, Q-Free ASA, Autostrade per l'Italia S.p.A., EFKON AG, Star Systems International Ltd., Far Eastern Electronic Toll Collection Co. Ltd., Ingenico, Perceptics LLC, TagMaster, GeoToll Inc., Watchdata Technologies, Korea Smart Card Co. Ltd., Electronic Transaction Consultants LLC

North America was the largest region in the electronic toll collection market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electronic toll collection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the electronic toll collection market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The electronic toll collection market consists of revenues earned by entities by providing services such as toll collection systems, transponder distribution, account management, data management and analytics, security services. The market value includes the value of related goods sold by the service provider or included within the service offering. The electronic toll collection market also includes sales of reader antennas, lane control equipment, maintenance and diagnostic tools, toll booth equipment. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Including: 1) By Type: Automatic Vehicle Classification (AVC); Violation Enforcement System (VES); Automatic Vehicle Identification System (AVIS)
2) By Payment Method: Prepaid; Hybrid; Postpaid
3) By Technology: Radio Frequency Identification (RFID); Dedicated Short Range Communication (DSRC); Global Navigation Satellite System (GNSS) Or GPS; Video Analytics; Cell Phone Tolling
4) By End-user: Highway; Urban Area
Covering: Raytheon Technologies Corporation; Mitsubishi Heavy Industries Ltd; Thales Group; Infineon Technologies AG; Siemens Mobility

Product Code: r17342

1. Executive Summary

2. Electronic Toll Collection Market Characteristics

3. Electronic Toll Collection Market Trends And Strategies

4. Electronic Toll Collection Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Electronic Toll Collection Market Size and Growth

5.1. Global Electronic Toll Collection Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Electronic Toll Collection Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Electronic Toll Collection Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Electronic Toll Collection Market Segmentation

6.1. Global Electronic Toll Collection Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Automatic Vehicle Classification (AVC)
Violation Enforcement System (VES)
Automatic Vehicle Identification System (AVIS)
Other Types
6.2. Global Electronic Toll Collection Market, Segmentation By Payment Method, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Prepaid
Hybrid
Postpaid
6.3. Global Electronic Toll Collection Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Radio Frequency Identification (RFID)
Dedicated Short Range Communication (DSRC)
Global Navigation Satellite System (GNSS) Or GPS
Video Analytics
Cell Phone Tolling
Other Technologies
6.4. Global Electronic Toll Collection Market, Segmentation By End-user, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Highway
Urban Area

7. Electronic Toll Collection Market Regional And Country Analysis

7.1. Global Electronic Toll Collection Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Electronic Toll Collection Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Electronic Toll Collection Market

8.1. Asia-Pacific Electronic Toll Collection Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Electronic Toll Collection Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Electronic Toll Collection Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Electronic Toll Collection Market, Segmentation By End-user, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Electronic Toll Collection Market

9.1. China Electronic Toll Collection Market Overview
9.2. China Electronic Toll Collection Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Electronic Toll Collection Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Electronic Toll Collection Market, Segmentation By End-user, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Electronic Toll Collection Market

10.1. India Electronic Toll Collection Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Electronic Toll Collection Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Electronic Toll Collection Market, Segmentation By End-user, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Electronic Toll Collection Market

11.1. Japan Electronic Toll Collection Market Overview
11.2. Japan Electronic Toll Collection Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Electronic Toll Collection Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Electronic Toll Collection Market, Segmentation By End-user, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Electronic Toll Collection Market

12.1. Australia Electronic Toll Collection Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Electronic Toll Collection Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Electronic Toll Collection Market, Segmentation By End-user, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Electronic Toll Collection Market

13.1. Indonesia Electronic Toll Collection Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Electronic Toll Collection Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Electronic Toll Collection Market, Segmentation By End-user, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Electronic Toll Collection Market

14.1. South Korea Electronic Toll Collection Market Overview
14.2. South Korea Electronic Toll Collection Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Electronic Toll Collection Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Electronic Toll Collection Market, Segmentation By End-user, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Electronic Toll Collection Market

15.1. Western Europe Electronic Toll Collection Market Overview
15.2. Western Europe Electronic Toll Collection Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Electronic Toll Collection Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Electronic Toll Collection Market, Segmentation By End-user, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Electronic Toll Collection Market

16.1. UK Electronic Toll Collection Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Electronic Toll Collection Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Electronic Toll Collection Market, Segmentation By End-user, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Electronic Toll Collection Market

17.1. Germany Electronic Toll Collection Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Electronic Toll Collection Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Electronic Toll Collection Market, Segmentation By End-user, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Electronic Toll Collection Market

18.1. France Electronic Toll Collection Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Electronic Toll Collection Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Electronic Toll Collection Market, Segmentation By End-user, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Electronic Toll Collection Market

19.1. Italy Electronic Toll Collection Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Electronic Toll Collection Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Electronic Toll Collection Market, Segmentation By End-user, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Electronic Toll Collection Market

20.1. Spain Electronic Toll Collection Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Electronic Toll Collection Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Electronic Toll Collection Market, Segmentation By End-user, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Electronic Toll Collection Market

21.1. Eastern Europe Electronic Toll Collection Market Overview
21.2. Eastern Europe Electronic Toll Collection Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Electronic Toll Collection Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Electronic Toll Collection Market, Segmentation By End-user, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Electronic Toll Collection Market

22.1. Russia Electronic Toll Collection Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Electronic Toll Collection Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Electronic Toll Collection Market, Segmentation By End-user, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Electronic Toll Collection Market

23.1. North America Electronic Toll Collection Market Overview
23.2. North America Electronic Toll Collection Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Electronic Toll Collection Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Electronic Toll Collection Market, Segmentation By End-user, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Electronic Toll Collection Market

24.1. USA Electronic Toll Collection Market Overview
24.2. USA Electronic Toll Collection Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Electronic Toll Collection Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Electronic Toll Collection Market, Segmentation By End-user, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Electronic Toll Collection Market

25.1. Canada Electronic Toll Collection Market Overview
25.2. Canada Electronic Toll Collection Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Electronic Toll Collection Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Electronic Toll Collection Market, Segmentation By End-user, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Electronic Toll Collection Market

26.1. South America Electronic Toll Collection Market Overview
26.2. South America Electronic Toll Collection Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Electronic Toll Collection Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Electronic Toll Collection Market, Segmentation By End-user, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Electronic Toll Collection Market

27.1. Brazil Electronic Toll Collection Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Electronic Toll Collection Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Electronic Toll Collection Market, Segmentation By End-user, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Electronic Toll Collection Market

28.1. Middle East Electronic Toll Collection Market Overview
28.2. Middle East Electronic Toll Collection Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Electronic Toll Collection Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Electronic Toll Collection Market, Segmentation By End-user, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Electronic Toll Collection Market

29.1. Africa Electronic Toll Collection Market Overview
29.2. Africa Electronic Toll Collection Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Electronic Toll Collection Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Electronic Toll Collection Market, Segmentation By End-user, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Electronic Toll Collection Market Competitive Landscape And Company Profiles

30.1. Electronic Toll Collection Market Competitive Landscape
30.2. Electronic Toll Collection Market Company Profiles
- 30.2.1. Raytheon Technologies Corporation
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Mitsubishi Heavy Industries Ltd.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Thales Group
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Infineon Technologies AG
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Siemens Mobility
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Electronic Toll Collection Market Other Major And Innovative Companies

31.1. Ferrovial S.E.
31.2. Xerox Holdings Corporation
31.3. Conduent Inc.
31.4. TransCore
31.5. Cubic Corporation
31.6. SKIDATA GmbH
31.7. VITRONIC
31.8. Kapsch TrafficCom
31.9. IBI Group Inc.
31.10. Neology Inc.
31.11. Sensys Gatso Group
31.12. Q-Free ASA
31.13. Autostrade per l'Italia S.p.A.
31.14. EFKON AG
31.15. Star Systems International Ltd.

32. Global Electronic Toll Collection Market Competitive Benchmarking

33. Global Electronic Toll Collection Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Electronic Toll Collection Market

35. Electronic Toll Collection Market Future Outlook and Potential Analysis

35.1 Electronic Toll Collection Market In 2028 - Countries Offering Most New Opportunities
35.2 Electronic Toll Collection Market In 2028 - Segments Offering Most New Opportunities
35.3 Electronic Toll Collection Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer