Electronic Toll Collection Market Growth, Size, Trends, Revenue, Challenges and Future Outlook

Electronic Toll Collection Market Size- By Type, By Technology, By Offering, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

Electronic Toll Collection Market Size- By Type, By Technology, By Offering, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

Published: Nov 2023 Report ID: IACT23191 Pages: 1 - 234 Formats*:     
Category : Information & Communications Technology
Electronic Toll Collection Market Introduction and Overview 

According to SPER Market Research, the Global Electronic Toll Collection Market is estimated to reach USD 25.08 billion by 2033 with a CAGR of 10.78%.

The report includes an in-depth analysis of the Global Electronic Toll Collection Market, including market size and trends, product mix, applications, and supplier analysis. The term "Electronic toll collection" refers to cashless toll collection technology, which helps alleviate traffic congestion on toll collection sites caused by the laborious procedure of collecting cash or plastic money. Vehicles are not required to stop at toll booths in order to collect these tolls. When a car stops at a toll booth, these systems scan the car to start collecting. In order to allow cars to pass the booth without the need for transponders, they operate on cash tolls. A private or public road that levies a price for use is known as a toll road. Because electronic toll collecting does not require manual labour, it avoids traffic jams.

  • In October 2021: RVers may now travel the entire country with a single transponder and pay their tolls electronically without stopping at a toll booth, thanks to a new device that TransCore introduced. RV Toll Pass will transform the way RVers traverse various tolling jurisdictions across the US. RV Toll Pass is available for all RV configurations, including motor homes and trailers, and enables users to be tolled at the electronic rate, which is usually less expensive than the cash or video toll rate. This is made possible by TransCore's multi-protocol National Pass technology.
  • In November 2020: A system designed by Raytheon Technologies is ideal for clearing traffic in big cities. With a more compact design that mounts on pre-existing infrastructure, the Optical Detection Intelligent Network, or ODIN, performs the functions of a conventional overhead gantry. A conventional gantry, a camera, and an illuminator for the front and rear plates are used to help manage congestion. To make it durable, ODIN combines all of those into a single camera and sensor.

Market Opportunities and Challenges
The proliferation of tolling systems in developing nations offers market participants profitable opportunities to grow their businesses. The market is growing because of the following main factors: fewer accidents, traffic jams, and pollution; strong government support for more electronic toll collection system deployment; convenience from cashless payments; and technological advancements in transportation infrastructure. It is projected that the growing use of electronic toll collecting systems in emerging nations and the enforcement of strict government rules pertaining to the installation of such systems will present lucrative opportunities for market expansion. Additionally, during the forecast period, the electronic toll collection market players will have furhter opportunities due to the rise in the use of blockchain technology in toll collection systems, the surge in the use of blockchain technology in toll collection systems from coin-based or manual tolling systems, and the increase in partnerships between the public and private sectors for transportation.

However, the introduction of strict regulations in some areas is anticipated to impede the expansion of the electronic toll collection sector. There will likely be challenges for the electronic toll collecting sector due to the growing number of concerns related to common standards, interoperability, and toll system selection. Additionally, hefty installation-related upfront expenditures combined with high running and maintenance expenses impede market expansion. Furthermore, a major hindrance to the market's expansion is the absence of standardisation in toll collection systems and the heavy reliance on government approvals for electronic toll collection.

Electronic Toll Collection Market


Market Competitive Landscape
The major players in the Global Electronic Toll Collection market include: American Traffic Solutions, Conduent Inc., Cubic Corporation, Electronic Transaction Consultants Corporation, Far Eastern Electronic Toll Collection Co Ltd., Kapsch TrafficCom AG, MITSUBISHI HEAVY INDUSTRIES LTD, Perceptics LLC, Raytheon Company, Siemens AG, Star Systems International, Thales Group, Toll Collect GmbH, TOSHIBA CORPORATION, Others. To improve their market position, these businesses have used both organic and inorganic growth tactics, including product launches and developments, alliances, contracts, expansions, and acquisitions.

Scope of the Report:
 Report Metric Details
 Market size available for years 2019-2033
 Base year considered 2022
 Forecast period 2023-2033
 Segments coveredBy Type, By Technology, By Offering, By Application
 Regions coveredNorth America, Asia-Pacific, Latin America, Middle East & Africa and Europe
 Companies CoveredAmerican Traffic Solutions, Conduent Inc., Cubic Corporation, Electronic Transaction Consultants Corporation, Far Eastern Electronic Toll Collection Co Ltd., Kapsch TrafficCom AG, MITSUBISHI HEAVY INDUSTRIES LTD, Perceptics LLC, Raytheon Company, Siemens AG, Star Systems International, Thales Group, Toll Collect GmbH, TOSHIBA CORPORATION, Others
COVID-19 Impact on Global Electronic Toll Collection Market
The global economy experienced a severe impact from the COVID-19 outbreak, with the transportation and logistics sector being particularly affected. Lockdown measures imposed by governments worldwide disrupted the movement of vehicles and people, leading to a significant downturn in the operations of transportation and logistics companies. Government development projects such as roads, highways, and bridges were halted, reducing the implementation of automated systems and hindering market growth. Toll collection in India, the U.S., Canada, and European countries was adversely affected by the pandemic. Although lockdown restrictions eased in the second quarter of 2020, creating a new normal, the demand for Electronic Toll Collection (ETC) slightly increased due to its contact-free payment method, helping curb the spread of COVID-19. Amid the pandemic, the construction of highways and bridges resumed, driving the demand for automated toll-collection systems.

Key Target Audience:
  • Government Agencies and Authorities
  • Individual Drivers and Fleet Operators
  • Law Enforcement Agencies
  • Police and Traffic Authorities
  • Technology Providers and System Integrators
  • Toll Operators and Concessionaires
  • Vehicle Manufacturers
  • Others
Our in-depth analysis of the Electronic Toll Collection Market includes the following segments:
By Type:
  • Automated Vehicle Classification
  • Automated Vehicle Identification
  • Transaction Processing
  • Violation Enforcement System
  • By Technology:
  • Dedicated Short-range Communication (DSRC)
  • GNSS & GPS
  • Infrared
  • Radio-frequency Identification (RFID)
  • Video Analytics
  • By Offering:
  • Hardware
  • Back Office
  • Other Services
  • By Application:
  • Highways
  • Urban
  • Key Topics Covered in the Report:
    • Global Electronic Toll Collection Market Size (FY’2023-FY’2033)
    • Overview of Global Electronic Toll Collection Market
    • Segmentation of Global Electronic Toll Collection Market By Type (Automated Vehicle Classification, Automated Vehicle Identification, Transaction Processing, Violation Enforcement System)
    • Segmentation of Global Electronic Toll Collection Market By Technology (Dedicated Short-range Communication, GNSS & GPS, Infrared, Radio-frequency Identification, Video Analytics)
    • Segmentation of Global Electronic Toll Collection Market By Offering (Hardware, Back Office, Other Services)
    • Segmentation of Global Electronic Toll Collection Market By Application (Highways, Urban)
    • Statistical Snap of Global Electronic Toll Collection Market
    • Expansion Analysis of Global Electronic Toll Collection Market
    • Problems and Obstacles in Global Electronic Toll Collection Market
    • Competitive Landscape in the Global Electronic Toll Collection Market
    • Impact of COVID-19 and Demonetization on Global Electronic Toll Collection Market
    • Details on Current Investment in Global Electronic Toll Collection Market
    • Competitive Analysis of Global Electronic Toll Collection Market
    • Prominent Players in the Global Electronic Toll Collection Market
    • SWOT Analysis of Global Electronic Toll Collection Market
    • Global Electronic Toll Collection Market Future Outlook and Projections (FY’2023-FY’2033)
    • Recommendations from Analyst
    1. Introduction
    1.1. Scope of the report
    1.2. Market segment analysis

    2. Research Methodology
    2.1. Research data source
    2.1.1. Secondary Data
    2.1.2. Primary Data
    2.1.3. SPER’s internal database
    2.1.4. Premium insight from KOL’s
    2.2. Market size estimation
    2.2.1. Top-down and Bottom-up approach
    2.3. Data triangulation

    3. Executive Summary

    4. Market Dynamics
    4.1. Driver, Restraint, Opportunity and Challenges analysis
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunities
    4.1.4. Challenges
    4.2. COVID-19 Impacts of the Global Electronic Toll Collection Market

    5. Market variable and outlook
    5.1. SWOT Analysis
    5.1.1. Strengths
    5.1.2. Weaknesses
    5.1.3. Opportunities
    5.1.4. Threats
    5.2. PESTEL Analysis
    5.2.1. Political Landscape
    5.2.2. Economic Landscape
    5.2.3. Social Landscape
    5.2.4. Technological Landscape
    5.2.5. Environmental Landscape
    5.2.6. Legal Landscape
    5.3. PORTER’s Five Forces 
    5.3.1. Bargaining power of suppliers
    5.3.2. Bargaining power of buyers
    5.3.3. Threat of Substitute
    5.3.4. Threat of new entrant
    5.3.5. Competitive rivalry
    5.4. Heat Map Analysis

    6. Competitive Landscape
    6.1. Global Electronic Toll Collection Market Manufacturing Base Distribution, Sales Area, Product Type 
    6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Electronic Toll Collection Market

    7. Global Electronic Toll Collection Market, By Type (USD Million)
    7.1. Global Electronic Toll Collection Market Value Share and Forecast, By Type, 2023-2033
    7.2. Automated Vehicle Classification
    7.3. Automated Vehicle Identification
    7.4. Transaction Processing
    7.5. Violation Enforcement System

    8. Global Electronic Toll Collection Market, By Technology (USD Million)
    8.1. Global Electronic Toll Collection Market Value Share and Forecast, By Technology, 2023-2033
    8.2. Dedicated Short-range Communication (DSRC)
    8.3. GNSS & GPS
    8.4. Infrared
    8.5. Radio-frequency Identification (RFID)
    8.6. Video Analytics

    9. Global Electronic Toll Collection Market, By Offering (USD Million)
    9.1. Global Electronic Toll Collection Market Value Share and Forecast, By Offering, 2023-2033
    9.2. Hardware
    9.3. Back Office 
    9.4. Other Services

    10. Global Electronic Toll Collection Market, By Application (USD Million)
    10.1. Global Electronic Toll Collection Market Value Share and Forecast, By Application, 2023-2033
    10.2. Highways
    10.3. Urban

    11. Global Electronic Toll Collection Market Forecast, 2019-2033 (USD Million)
    11.1. Global Electronic Toll Collection Market Size and Market Share

    12. Global Electronic Toll Collection Market, By Type, 2019-2033 (USD Million)
    12.1. Global Electronic Toll Collection Market Size and Market Share By Type (2019-2026)
    12.2. Global Electronic Toll Collection Market Size and Market Share By Type (2027-2033)

    13. Global Electronic Toll Collection Market, By Technology, 2019-2033 (USD Million)
    13.1. Global Electronic Toll Collection Market Size and Market Share By Technology (2019-2026)
    13.2. Global Electronic Toll Collection Market Size and Market Share By Technology (2027-2033)

    14. Global Electronic Toll Collection Market, By Offering, 2019-2033 (USD Million)
    14.1. Global Electronic Toll Collection Market Size and Market Share By Offering (2019-2026)
    14.2. Global Electronic Toll Collection Market Size and Market Share By Offering (2027-2033)

    15. Global Electronic Toll Collection Market, By Application, 2019-2033 (USD Million)
    15.1. Global Electronic Toll Collection Market Size and Market Share By Application (2019-2026)
    15.2. Global Electronic Toll Collection Market Size and Market Share By Application (2027-2033)

    16. Global Electronic Toll Collection Market, By Region, 2019-2033 (USD Million)
    16.1. Global Electronic Toll Collection Market Size and Market Share By Region (2019-2026)
    16.2. Global Electronic Toll Collection Market Size and Market Share By Region (2027-2033) 
    16.3. Asia-Pacific
    16.3.1. Australia
    16.3.2. China
    16.3.3. India
    16.3.4. Japan
    16.3.5. South Korea
    16.3.6. Rest of Asia-Pacific
    16.4. Europe
    16.4.1. France
    16.4.2. Germany
    16.4.3. Italy
    16.4.4. Spain
    16.4.5. United Kingdom
    16.4.6. Rest of Europe
    16.5. Middle East and Africa
    16.5.1. Kingdom of Saudi Arabia 
    16.5.2. United Arab Emirates
    16.5.3. Rest of Middle East & Africa
    16.6. North America
    16.6.1. Canada
    16.6.2. Mexico
    16.6.3. United States
    16.7. Latin America
    16.7.1. Argentina
    16.7.2. Brazil
    16.7.3. Rest of Latin America

    17. Company Profile
    17.1. American Traffic Solutions
    17.1.1. Company details
    17.1.2. Financial outlook
    17.1.3. Product summary 
    17.1.4. Recent developments
    17.2. Conduent Inc.
    17.2.1. Company details
    17.2.2. Financial outlook
    17.2.3. Product summary 
    17.2.4. Recent developments
    17.3. Cubic Corporation
    17.3.1. Company details
    17.3.2. Financial outlook
    17.3.3. Product summary 
    17.3.4. Recent developments
    17.4. Electronic Transaction Consultants Corporation
    17.4.1. Company details
    17.4.2. Financial outlook
    17.4.3. Product summary 
    17.4.4. Recent developments
    17.5. Far Eastern Electronic Toll Collection Co Ltd.
    17.5.1. Company details
    17.5.2. Financial outlook
    17.5.3. Product summary 
    17.5.4. Recent developments
    17.6. Kapsch TrafficCom AG
    17.6.1. Company details
    17.6.2. Financial outlook
    17.6.3. Product summary 
    17.6.4. Recent developments
    17.7. MITSUBISHI HEAVY INDUSTRIES LTD
    17.7.1. Company details
    17.7.2. Financial outlook
    17.7.3. Product summary 
    17.7.4. Recent developments
    17.8. Perceptics LLC
    17.8.1. Company details
    17.8.2. Financial outlook
    17.8.3. Product summary 
    17.8.4. Recent developments
    17.9. Raytheon Company
    17.9.1. Company details
    17.9.2. Financial outlook
    17.9.3. Product summary 
    17.9.4. Recent developments
    17.10. Siemens AG
    17.10.1. Company details
    17.10.2. Financial outlook
    17.10.3. Product summary 
    17.10.4. Recent developments
    17.11. Star Systems International
    17.11.1. Company details
    17.11.2. Financial outlook
    17.11.3. Product summary 
    17.11.4. Recent developments
    17.12. Thales Group
    17.12.1. Company details
    17.12.2. Financial outlook
    17.12.3. Product summary 
    17.12.4. Recent developments
    17.13. Toll Collect GmbH
    17.13.1. Company details
    17.13.2. Financial outlook
    17.13.3. Product summary 
    17.13.4. Recent developments
    17.14. TOSHIBA CORPORATION
    17.14.1. Company details
    17.14.2. Financial outlook
    17.14.3. Product summary 
    17.14.4. Recent developments
    17.15. Others 
     
    18. List of Abbreviations

    19. Reference Links

    20. Conclusion

    21. Research Scope

    SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.

    The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings.  The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.

    SPER-Methodology-1

    SPER-Methodology-2

    SPER-Methodology-3


    Frequently Asked Questions About This Report
    Electronic Toll Collection Market is projected to reach USD 25.08 billion by 2033, growing at a CAGR of 10.78% during the forecast period.
    Electronic Toll Collection Market grew in market size from 2023. The Market is expected to reach USD 25.08 billion by 2033, at a CAGR of 10.78% during the forecast period.
    Electronic Toll Collection Market CAGR of 10.78% during the forecast period.
    "You can get the sample pages by clicking the link -Click Here"
    Electronic Toll Collection Market size is USD 25.08 billion from 2023 to 2033.
    Electronic Toll Collection Market Segment is Covered By Type, By Technology, By Offering, By Application
    The North America region is anticipated to have the highest market share in Electronic Toll Collection Market.
    The key players in the market include Companies Covered American Traffic Solutions, Conduent Inc., Cubic Corporation, Electronic Transaction Consultants Corporation, Far Eastern Electronic Toll Collection Co Ltd., Kapsch TrafficCom AG, MITSUBISHI HEAVY INDUSTRIES LTD, Perceptics LLC, Raytheon Company, Siemens AG, Star Systems International, Thales Group, Toll Collect GmbH, TOSHIBA CORPORATION, Others
    Electronic Toll Collection Market, including market size and trends, product mix, applications, and supplier analysis. The term "Electronic toll collection" refers to cashless toll collection technology, which helps alleviate traffic congestion on toll collection sites caused by the laborious procedure of collecting cash or plastic money.
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