Electronic Toll Collection Market by Type, Component, Technology, Application

Description

List of Tables

[181 Pages Report] The Electronic Toll Collection Market size was estimated at USD 10.35 billion in 2023 and expected to reach USD 11.24 billion in 2024, at a CAGR 8.72% to reach USD 18.60 billion by 2030.

Electronic toll collection (ETC) is an automated or wireless system for collecting toll charges on highways, bridges, and tunnels without requiring vehicles to stop. It utilizes various technologies such as radio frequency identification (RFID), dedicated short-range communications (DSRC), and video or license plate recognition to identify the vehicle and deduct the toll fee directly from a prepaid or postpaid account associated with the vehicle. This system enhances the efficiency of toll collection by reducing traffic congestion, lowering transaction costs, and decreasing the environmental impact by reducing vehicle emissions associated with stopping and starting at toll booths. The demand for ETC systems is driven by the increasing need for efficient traffic management solutions, government initiatives towards smart transportation infrastructure, and advancements in wireless communication technologies. However, the primary challenges include the high initial setup and operational costs and data privacy and security concerns. Meanwhile, adopting AI and machine learning for dynamic pricing, predictive maintenance, and enhanced data analytics presents significant opportunities. Investment in cloud-based platforms for real-time data sharing and interoperability across different regions redefines market standards.

KEY MARKET STATISTICS
Base Year [2023]	USD 10.35 billion
Estimated Year [2024]	USD 11.24 billion
Forecast Year [2030]	USD 18.60 billion
CAGR (%)	8.72%

Type: Technological advancements in the automatic vehicle classification and identification system to speed up the toll collection process

Electronic toll collection (ETC) is a sophisticated framework designed to streamline the collection process, reducing traffic congestion and minimizing the need for manual operations. It encompasses several key types, each critical in its efficient functionality. Automatic vehicle classification (AVC) systems are deployed to accurately identify the type of vehicle passing through the toll, ensuring the correct toll amount is charged. Automatic vehicle identification systems (AVIS) utilize technology such as RFID or license plate recognition to quickly identify vehicles, thereby speeding up the toll collection process. Transaction processing/back office systems are the backbone of ETC, responsible for managing transaction data, billing, customer accounts, and other administrative functions. Moreover, the violation enforcement system (VES) is crucial for identifying and processing cases of unpaid tolls, using measures such as capturing license plate images for enforcement actions.

Application: Increasing adoption of ETC systems across highways offering effective traffic management solutions

The deployment of ETC systems across highways and urban areas has significantly revolutionized the way tolls are collected, offering a seamless vehicle transition without stopping or slowing down. In highways, ETC systems have been instrumental in reducing congestion, enhancing traffic flow, and minimizing the environmental impact by reducing vehicle emissions through less idling. Many long-distance travelers and commercial transporters benefit from quicker transit times and lower fuel costs. In urban environments, ETC plays a critical role in managing congestion in busy city centers and toll bridges, contributing to efficient urban mobility. It enables city planners to implement dynamic pricing strategies based on traffic demand, thus effectively managing vehicle movements during peak hours. The adaptability of ETC systems to various contexts, from expansive highway networks to densely packed urban centers, underscores its versatility and indispensable role in modern traffic management and urban planning strategies.

Regional Insights

In the Americas, the United States and Canada are the key players in the ETC market, driven by a mature infrastructure and a high adoption rate among users seeking to avoid congestion. The Federal Highway Administration (FHWA) has been pivotal in this region, with significant investments in research and development. Recent patents in the United States focus on enhancing the accuracy and reliability of toll collection amidst increasing traffic volumes. At the same time, the EMEAs ETC market is significant and supported by extensive cross-border travel and the EU's commitment to environmental goals. The interoperability of ETC systems across member states is a priority, aligning with consumer needs for seamless travel. Recent investments focus on green technologies and digital integration, in line with the EU's broader digital market initiatives. Moreover, the Asia-Pacific region is witnessing a significant surge in the adoption of ETC, driven by rapid urbanization, increasing vehicle registrations, and substantial investments in road infrastructure. Countries such as Japan, China, India, and South Korea are at the forefront, implementing advanced ETC technologies to enhance traffic management and reduce congestion. This growth is further bolstered by governmental initiatives promoting cashless transactions and ensuring smoother transit on highways.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Electronic Toll Collection Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Electronic Toll Collection Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Electronic Toll Collection Market, highlighting leading vendors and their innovative profiles. These include A-to-Be, Abertis Infraestructuras S.A., Conduent, Inc., Cubic Corporation, EFKON GmbH, Far Eastern Electronic Toll Collection Co. (FETC), GeoToll Inc., Indra Sistemas, S.A., Kapsch Trafficcom AG, Mitsubishi Heavy Industries, Ltd., Neology, Inc., Q-Free ASA, Quarterhill Inc., Raytheon Company, Siemens AG, Thales S.A., TollPlus LLC, Toshiba Corporation, Transcore Atlantic LLC, and Vinci SA.

Market Segmentation & Coverage

This research report categorizes the Electronic Toll Collection Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Automatic Vehicle Classification
- Automatic Vehicle Identification System
- Transaction Processing/Back Office
- Violation Enforcement System

Component
- Hardware
- Service
  - Consulting Services
  - Managed Services
  - Professional Services
  - Support & Maintenance
  - Training & Education

Software

Technology
- Cell Phone Tolling
- Dedicated Short Range Communication
- Global Navigation Satellite System (GNSS)/GPS
- Radio Frequency Identification
- Video Analytics

Application
- Highways
- Urban Areas

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Electronic Toll Collection Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Electronic Toll Collection Market?

3. What are the technology trends and regulatory frameworks in the Electronic Toll Collection Market?

4. What is the market share of the leading vendors in the Electronic Toll Collection Market?

5. Which modes and strategic moves are suitable for entering the Electronic Toll Collection Market?

Product Code: MRR-436BB626EA2E

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Need for Advance Electronic Toll Collection Systems to Overcome Traffic Congestion with Improved Traffic Flow
  - 5.1.1.2. ncreased Allocation of Funds by the Government to Deploy Advance Infrastructure for Toll Collection Process
  - 5.1.1.3. Improved Convenience and Transparency in Toll Collection Process Due to Cashless Travel Facility
  - 5.1.1.4. Increasing Undertaking of Smart City Projects Globally Across the World
- 5.1.2. Restraints
  - 5.1.2.1. Sluggish Transportation Infrastructure Sector in Underdeveloped Countries
  - 5.1.2.2. High Operation and Maintenance Costs
- 5.1.3. Opportunities
  - 5.1.3.1. Asian Cities Focusing to Deploy ITS Solutions for Public Transport
  - 5.1.3.2. Rising PPP in Transportation Sector
  - 5.1.3.3. Rapid Transition Towards All-Electronic Tolling Systems
- 5.1.4. Challenges
  - 5.1.4.1. Non-Uniformity in Technology Selection Resulting in Several Interoperability and Standardization Issues Across Deployments
5.2. Market Segmentation Analysis
- 5.2.1. Type: Technological advancements in the automatic vehicle classification and identification system to speed up the toll collection process
- 5.2.2. Application: Increasing adoption of ETC systems across highways offering effective traffic management solutions
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Electronic Toll Collection Market, by Type

6.1. Introduction
6.2. Automatic Vehicle Classification
6.3. Automatic Vehicle Identification System
6.4. Transaction Processing/Back Office
6.5. Violation Enforcement System

7. Electronic Toll Collection Market, by Component

7.1. Introduction
7.2. Hardware
7.3. Service
7.4. Software

8. Electronic Toll Collection Market, by Technology

8.1. Introduction
8.2. Cell Phone Tolling
8.3. Dedicated Short Range Communication
8.4. Global Navigation Satellite System (GNSS)/GPS
8.5. Radio Frequency Identification
8.6. Video Analytics

9. Electronic Toll Collection Market, by Application

9.1. Introduction
9.2. Highways
9.3. Urban Areas

10. Americas Electronic Toll Collection Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Electronic Toll Collection Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Electronic Toll Collection Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Kapsch TrafficCom Revolutionizes LA1 Tolling with Cutting-Edge Electronic Collection System
- 13.3.2. Quarterhill Unveils E-ZPass Interoperability Hub, Revolutionizing Electronic Toll Collection for Seamless Travel
- 13.3.3. Indra Revolutionizes Ireland's Toll Roads with Groundbreaking Interoperable Payment Platform
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio