The latest report published by IMARC Group, titled “Electronic Toll Collection Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on electronic toll collection market report. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global electronic toll collection market size reached US$ 10.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 17.5 Billion by 2032, exhibiting a growth rate (CAGR) of 5.2% during 2024-2032.

Request to Get the Sample Report: https://www.imarcgroup.com/electronic-toll-collection-market/requestsample

Factors Affecting the Growth of the Electronic Toll Collection Industry:

  • Technological Advancements: The rapid evolution of electronic toll collection (ETC) systems is a primary driver of market growth. Continuous technological advancements, such as the integration of RFID (Radio-Frequency Identification) and GPS technologies, enhance the efficiency and accuracy of toll collection processes. These innovations not only streamline toll operations but also contribute to reduced traffic congestion and improved overall transportation management.
  • Government Initiatives and Regulations: Government support and regulatory measures play a pivotal role in propelling the electronic toll collection market forward. Many governments worldwide are actively promoting ETC solutions to enhance road infrastructure, mitigate traffic bottlenecks, and encourage the adoption of smart transportation systems. Regulatory mandates requiring toll operators to implement electronic tolling further drive market growth by fostering a widespread shift from traditional tolling methods to advanced, automated systems.
  • Traffic Management and Environmental Concerns: The increasing emphasis on efficient traffic management and environmental sustainability fuels the demand for electronic toll collection. ETC systems contribute to smoother traffic flow by reducing manual tolling delays, leading to lower fuel consumption and emissions. As cities worldwide grapple with urbanization challenges, ETC emerges as a key component in promoting sustainable and intelligent transportation solutions, thereby driving the expansion of the electronic toll collection market.

View Full Report with TOC & List of Figure: https://www.imarcgroup.com/electronic-toll-collection-market

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

  • 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

Electronic Toll Collection Market Report Segmentation:

By Technology:

  • RFID
  • DSRC
  • Others

RFID represented the largest segment as it increases operational efficiency and reduces traffic congestion.

By System:

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

Transponder - or Tag-Based Toll Collection Systems represented the largest segment as they are highly efficient in the identification of vehicles.

 By Subsystem:

  • Automated Vehicle Identification
  • Automated Vehicle Classification
  • Violation Enforcement System
  • Transaction Processing

Automated Vehicle Classification represented the largest segment as it can classify vehicles by type and class to apply the correct toll rate.

By Offering:

  • Hardware
  • Back Office and Other Services

Hardware represented the largest segment due to the growing automation of toll-collection activities around the world.

By Toll Charging:

  • Distance Based
  • Point Based
  • Time Based
  • Perimeter Based

Distance Based represented the largest segment as it provides accurate value of the distance travelled by vehicles to calculate toll charges.

By Application:

  • Highways
  • Urban Areas

Highways represented the largest segment as electronic toll collection systems reduce traffic congestion on highways.

Regional Insights:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

North America's dominance in the market is due to the increasing number of new toll roads in various states.

Key highlights of the report:

  • Market Performance (2018-2023)
  • Market Outlook (2024-2032)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

Global Electronic Toll Collection Market Trends:

The electronic toll collection (ETC) market is witnessing several prominent trends shaping its trajectory. Firstly, the integration of advanced technologies like RFID, GPS, and artificial intelligence is enhancing the efficiency and accuracy of toll collection systems, leading to smoother traffic flow. Secondly, interoperability among different tolling systems is becoming a key focus, enabling seamless travel experiences for users across diverse regions and toll networks. Additionally, the shift towards cashless transactions and contactless payment methods is gaining traction, driven by the broader trend of digitalization.

Furthermore, there is a growing emphasis on user-friendly mobile applications and online platforms for toll payment and account management, providing commuters with convenient and accessible tolling solutions. These trends collectively reflect the industry's commitment to technological innovation, interoperability, and enhanced user experiences in the electronic toll collection landscape.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: [email protected]
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163