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 share. 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.
Electronic toll collection (ETC) systems are advanced technological mechanisms that facilitate the automatic collection of toll charges from vehicles at toll plazas without requiring them to stop. These systems use a combination of radio frequency identification (RFID) technology, dedicated short-range communication, and electronic payment systems, which allow for seamless traffic flow and reduced congestion on toll roads. Vehicles equipped with ETC transponders can pass through toll booths equipped with electronic readers that wirelessly communicate with the transponders to deduct toll amounts automatically from a pre-funded account. This not only speeds up the toll collection process but also enhances operational efficiency by minimizing the manpower needed for manual toll collection. These systems have proven to be effective in managing traffic in urban settings and on interstate highways, promoting a more streamlined transportation infrastructure.
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Market Trends:
The increasing demand for traffic congestion reduction is driving the global market. ETC systems streamline the toll payment process, allowing vehicles to pass through toll points without stopping, thereby reducing traffic delays, and improving overall highway efficiency. Moreover, technological advancements are propelling the ETC market forward. Innovations such as RFID, DSRC (Dedicated Short-Range Communications), and GPS/GNSS technology have improved the reliability and efficiency of toll collection systems. These technologies enable the precise tracking of vehicles and automatic toll deductions, thereby enhancing the user experience and reducing the potential for human error. Additionally, advancements in mobile telecommunications and the integration of mobile payments with ETC systems allow for easier and more accessible user interfaces, further encouraging adoption.
Besides, environmental concerns also play a critical role in driving the ETC market. ETC systems contribute to reduced vehicle emissions by minimizing the idling and stop-start conditions typically experienced at manual toll booths. Another driver is the global trend towards smart cities and intelligent transportation systems (ITS). As cities aim to become more connected and intelligent, integrating ETC systems becomes essential to manage transportation networks effectively.
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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 Segmentation:
Our report has categorized the market based on region, technology, system, subsystem, offering, toll charging and application.
Technology Insights:
- RFID
- DSRC
- Others
System Insights:
- Transponder - or Tag-Based Toll Collection Systems
- Other Toll Collection Systems
Subsystem Insights:
- Automated Vehicle Identification
- Automated Vehicle Classification
- Violation Enforcement System
- Transaction Processing
Offering Insights:
- Hardware
- Back Office and Other Services
Toll Charging Insights:
- Distance Based
- Point Based
- Time Based
- Perimeter Based
Application Insights:
- Highways
- Urban Areas
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)
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
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.
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