Electronic Toll Collection Market

Electronic Toll Collection Market by Technology (RFID and DSRC), Offering (Hardware and Back Office), Application (Highways and Urban Areas), Type (Transponders/Tag-Based Tolling Systems) and Region - Global Forecast to 2029

Report Code: SE 3461 Mar, 2024, by marketsandmarkets.com

[229 Pages Report] The global electronic toll collection market was valued at USD 10.1 billion in 2024 and is projected to reach USD 14.7 billion by 2029, it is expected to register a CAGR of 7.9% during the forecast period. Urgent need to mitigate traffic congestion and reduce road accidents and Technological advancements in transportation infrastructure are among the factors driving the growth of the electronic toll collection market.

Electronic Toll Collection Market

Electronic Toll Collection Market

Electronic Toll Collection Market Forecast to 2029

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Market Dynamics:

Driver: Urgent need to mitigate traffic congestion and reduce road accidents

Relatively high processing time per vehicle at a traditional mainline toll plaza often leads to traffic jams on highways. Traffic congestion further leads to the release of harmful vehicular emissions (such as greenhouse gases (GHGs) and carbon monoxide (CO)) and the potential for accidents and collisions. ETC systems contribute to the reduction of traffic congestion by streamlining toll collection processes and minimizing delays at toll plazas. By automating toll collection through ETC systems, vehicles can pass through toll points more efficiently, reducing congestion and improving traffic flow on highways, bridges, and other major roadways. Manual toll collection processes often require motorists to slow down or stop abruptly, increasing the risk of rear-end collisions and other accidents, especially on high-speed roadways. However, with ETC systems, vehicles can pass through toll points at highway speeds without the need for manual intervention, reducing the likelihood of accidents and enhancing overall roadway safety. According to the World Health Organization (WHO) report published in December 2023, ~1.2 million people die every year as a result of road traffic crashes, while these crashes cost countries 3% of their gross domestic product (GDP). This drives governments worldwide to modernize transportation infrastructure, which includes the deployment of ETC systems to improve road safety.

ETC provides several other benefits over traditional toll plazas. With the deployment of ETC systems, the toll transaction rate is greatly increased as vehicles no longer need to stop at the toll plaza. This not only reduces traffic congestion but also minimizes the emission of air pollutants. ETC is a much faster and more efficient mode for collecting toll charges at toll gates. An ETC lane can offer a vehicle flow rate that is four times faster than that of the manual toll collection lane. Thus, a tollbooth wherein an ETC system is installed can accommodate the increasing traffic without additional lanes. By leveraging data from ETC transactions and traffic sensors, transportation authorities can identify congestion hotspots, implement proactive traffic management strategies, and respond more effectively to accidents or emergencies on the roadways.
Many countries are adopting intelligent transportation systems (ITS), which drives the demand for ETC systems. This is because ETC systems provide drivers with the flexibility to pay toll fees using cards, eliminating the need for carrying cash.

Restraint: Overreliance of ETC on technology and susceptibility to technical failure

Electronic toll collection systems heavily rely on technology for their operation and are susceptible to technical failures, such as hardware malfunctions, software glitches, or communication breakdowns. If any part of the system fails, it can lead to disruptions in toll collection, causing inconvenience to users and potential revenue loss for toll operators. This might result in toll booths being temporarily unable to process electronic transactions, forcing drivers to use alternative payment methods or causing delays. Also, technical breakdowns can result in financial losses for toll operators. If the system is unable to accurately record toll transactions or if it malfunctions, toll operators may lose revenue. Additionally, fixing technical issues and restoring normal operations incur additional costs.

In addition, inefficient toll collection due to technical problems can contribute to traffic congestion, especially in areas with high traffic volumes. Delays in toll processing can lead to queues at toll booths, affecting the flow of traffic. With the increasing prevalence of cyber threats, electronic toll collection systems are vulnerable to hacking, data breaches, and cyberattacks. A security breach can compromise user data, financial transactions, and the overall integrity of the toll collection process.

Opportunity: Significant focus on minimizing fuel consumption and emissions for economic and environmental gains

Traditional toll plazas that use manual booths cause vehicles to stop and queue, resulting in significant idling time. This idling leads to higher emissions of harmful pollutants, such as carbon monoxide, hydrocarbons, and nitrogen oxides, which worsen air quality, affecting public health. Using ETC systems eliminates the need for stopping, allowing vehicles to flow smoothly through toll lanes, drastically reducing idling and associated emissions. Studies have shown that ETC systems can reduce harmful emissions by up to 50% compared to manual plazas.

Furthermore, the efficiency of ETC systems leads to a reduction in overall travel time for commuters. Reduced travel time not only translates to economic benefits but also means that vehicles spend less time on the road, emitting fewer pollutants. The streamlined traffic flow facilitated by ETC helps minimize congestion and, consequently, decreases the carbon footprint associated with extended periods of vehicle idling. In addition to optimize traffic flow, ETC systems often encourage the use of electronic payment methods, such as RFID tags or mobile applications. The reduction in the use of cash transactions at toll booths not only enhances transaction speed but also reduces the reliance on paper, cutting down on the environmental impact of producing, transporting, and disposing of paper receipts.

Beyond direct emission reductions, ETC systems offer indirect environmental benefits by encouraging eco-friendly transportation choices. For example, smoother traffic flow and faster travel times can make public transportation more appealing, leading to a shift away from individual vehicle use and associated emissions. Additionally, ETC systems can facilitate carpooling programs, further reducing the environmental footprint of transportation.

The decreased congestion with the use of ETC systems on busy roadways and highways, along with the reduction of fuel and time consumption, leads to decrease in emission of harmful gases such as carbon monoxide. All of these benefits tend to pave the way for driving the growth of the electronic toll collection market.

Challenge: Data privacy concerns

The implementation of electronic toll collection (ETC) systems has undeniably brought about efficiency and convenience in managing traffic flow and toll payment. However, it also raises significant privacy concerns that warrant careful consideration. As vehicles pass through toll booths equipped with ETC systems, important details such as license plate numbers, travel routes, and timestamps are captured and stored in databases. Authorities and third-party entities could misuse or mishandle this data, leading to unwarranted monitoring of individuals' movements. Concerns about the potential for mass surveillance or the creation of detailed travel histories raise questions about the balance between public interest and individual privacy rights.

Moreover, the vulnerability of electronic systems to hacking and data breaches amplifies these privacy concerns. A security breach could expose sensitive information to malicious actors, leading to identity theft, unauthorized access, or even the manipulation of travel records. As technology evolves, ensuring robust cybersecurity measures becomes important for safeguarding the privacy of individuals using ETC systems.

Electronic toll collection market Ecosystem

Prominent companies in this market include well-established, financially stable providers of electronic toll collection systems. These companies have been operating in the market for several years and possess a diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks. Prominent companies in this market include Kapsch TrafficCom AG (Austria), Conduent, Inc. (US), TransCore (US), Thales (France), Cubic Corporation (US), Infineon Technologies AG (Germany), Siemens (Germany), EFKON GmbH (Austria), Neology, Inc. (US), FEIG ELECTRONIC (Germany).

Electronic Toll Collection Market by Ecosystem

By application, urban areas is expected to grow with the highest CAGR from 2024 to 2029.

The market for urban areas is expected to grow at a CAGR of 5.1% during the forecast period. ETC eliminates the need to stop, improves traffic flow, and reduces congestion, especially during peak hours. All these benefits make it attractive for urban authorities seeking to manage growing traffic volumes effectively. Also, ETC offers a scalable and adaptable solution, accommodating increasing traffic volumes without adding physical infrastructure. It also facilitates smoother commutes, contributing to improved quality of life in urban areas.

By offering, hardware segment is expected to grow with the highest CAGR in 2029.

The hardware segment is expected to grow at a CAGR of 7.0% during the forecast period. Electronic Toll collection (ETC) hardware systems have shown to increase revenue collection by reducing leakage and improving accuracy in toll transactions. This makes them an attractive option for toll operators and government agencies looking to maximize toll revenue. The support and mandates from government authorities to implement ETC systems can significantly boost their adoption. Governments may also promote the use of electronic toll collection to improve overall transportation efficiency and reduce traffic congestion.

By technology, the other technologies segment is expected to grow with the highest CAGR from 2024 to 2029.

The other technologies segment is expected to witness the highest CAGR of 12.4% during the forecast period. ANPR systems automatically capture and recognize license plate information, eliminating the need for manual intervention and expediting toll transactions. The accuracy and reliability offered ANPR contribute significantly to the rising adoption of electronic toll collection systems. ANPR technology provides a reliable means of vehicle identification, minimizing the risk of errors associated with manual data entry. Also, with growing interest in implementing dynamic toll pricing based on factors like time of day, traffic volume, and vehicle type, AVC becomes crucial for accurately differentiating vehicles and applying appropriate fees. This allows for fairer pricing and optimized traffic management.

In 2029, Asia Pacific is projected to hold the highest CAGR of the overall electronic toll collection market.

Electronic Toll Collection Market
 by Region

Electronic Toll Collection Market by Region

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In 2029, The electronic toll collection market in Asia Pacific is expected to grow at the highest CAGR. The region benefits from a large population, a vast road infrastructure base, and a favorable regulatory environment. Factors providing growth opportunities to the electronic toll collection market in this region include government initiatives to introduce and promote the use of electronic toll collection systems, rapid urbanization demanding improved road networks/infrastructure, and high adoption rate of electronic toll systems in developing nations such as India, South Korea, Australia, and Malaysia. On account of increasing traffic congestion in India, FASTag, an electronic toll collection system based on RFID technology, was implemented by the National Highways Authority of India (NHAI).

Key Market Players

Kapsch TrafficCom AG (Austria), Conduent, Inc. (US), TransCore (US), Thales (France), Cubic Corporation (US), Infineon Technologies AG (Germany), Siemens (Germany), EFKON GmbH (Austria), Neology, Inc. (US), FEIG ELECTRONIC (Germany) are some of the key players in the electronic toll collection companies.

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Scope of the Report

Report Metric

Details

Market Size Availability for Years

2020–2029

Base Year

2023

Forecast Period

2024–2029

Forecast Units

Value (USD)

Segments Covered

By technology, type, offering, application, and region

Geographies Covered

North America, Europe, Asia Pacific, and RoW

Companies Covered

Kapsch TrafficCom AG (Austria); Conduent, Inc. (US); TransCore (US); Thales (France); Cubic Corporation (US); Infineon Technologies AG (Germany); Siemens (Germany); EFKON GmbH (Austria); Neology, Inc. (US); FEIG ELECTRONIC (Germany); are some of the key players in the electronic toll collection market.

Electronic Toll Collection Market Highlights

This research report categorizes the electronic toll collection market based on technology, type, offering, application, and region.

Segment

Subsegment

By Toll Payment Methods

  • Introduction
  • Prepaid Toll Payments
  • Post-paid Toll Payments
  • Combination Payments

By Type 

  • Introduction
  • Transponder- Or Tag-Based Tolling Systems
  • Other Types

By Technology

  • Introduction
  • Radio-Frequency Identification (RFID)
  • Dedicated Short-Range Communication (DSRC)
  • Other Technologies

By Offering

  • Introduction
  • Hardware
  • Back Office and Other Services

By Application

  • Introduction
  • Highways
  • Urban Areas

By Region

  • Introduction
  • North America
    • Impact of Recession
    • US
    • Canada
    • Mexico
  • Europe
    • Impact of Recession
    • EU5
    • Western Europe
    • Rest of Europe
  • Asia Pacific
    • Impact of Recession
    • China
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • RoW
    • Impact of Recession
    • Middle East & Africa
      • GCC Countries
      • Rest of Middle East & Africa
    • South America

Recent Developments

  • In January 2024, Neology entered into a contract with Humber Bridge Board (HBB) (UK), the board responsible for managing and maintaining the Humber Bridge. According to the contract, Neoloy is expected to provide end-to-end tolling capability-roadside systems, back-office solutions, website, and mobile app solutions to the HBB.
  • In December 2023, Kapsch TrafficCom AG received a contract to provide customer service for the e-TOLL system at 100 distribution points across Poland. The contract included a wide range of support services, including registering customer data, providing information, accepting payments, charging user accounts, and providing on-board equipment.
  • In November 2023, Kapsch TrafficCom AG partnered with Exeger Operations AB (Sweden) to develop a revolutionary solar cell technology called Powerfoyle for self-charging, environmentally friendly communications solutions. This partnership enabled Kapsch TrafficCom AG to leverage Exeger’s patented solar cell technology— Powerfoyle—to support the sustainable mobility ecosystem.
  • In October 2023, Kapsch TrafficCom AG received a contract to provide customer service for the e-TOLL system at 100 distribution points across Poland. The contract included a wide range of support services, including registering customer data, providing information, accepting payments, charging user accounts, and providing on-board equipment.
  • In September 2023, Kapsch TrafficCom AG expanded its production capacities in Vienna, which will lead to a 30% increase in production.

Frequently Asked Questions (FAQs):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 29)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
    1.3 STUDY SCOPE 
           1.3.1 INCLUSIONS AND EXCLUSIONS
           1.3.2 MARKETS COVERED
                    FIGURE 1 ELECTRONIC TOLL COLLECTION MARKET SEGMENTATION
           1.3.3 REGIONAL SCOPE
           1.3.4 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED 
    1.5 UNITS CONSIDERED 
    1.6 LIMITATIONS 
    1.7 STAKEHOLDERS 
    1.8 SUMMARY OF CHANGES 
    1.9 RECESSION IMPACT 
 
2 RESEARCH METHODOLOGY (Page No. - 35)
    2.1 INTRODUCTION 
           FIGURE 2 ELECTRONIC TOLL COLLECTION MARKET: RESEARCH DESIGN
    2.2 RESEARCH DATA 
           FIGURE 3 ELECTRONIC TOLL COLLECTION MARKET: RESEARCH APPROACH
           2.2.1 SECONDARY DATA
                    2.2.1.1 List of major secondary sources
                    2.2.1.2 Key data from secondary sources
           2.2.2 PRIMARY DATA
                    2.2.2.1 List of key participants in primary interviews
                    2.2.2.2 Breakdown of primaries
                    2.2.2.3 Key data from primary sources
                    2.2.2.4 Key industry insights
    2.3 FACTOR ANALYSIS 
           2.3.1 SUPPLY-SIDE ANALYSIS
                    FIGURE 4 REVENUE GENERATED FROM SALES OF ELECTRONIC TOLL COLLECTIONS
                    FIGURE 5 ELECTRONIC TOLL COLLECTION MARKET: REVENUE ANALYSIS OF CONDUENT, INC.
    2.4 MARKET SIZE ESTIMATION METHODOLOGY 
           FIGURE 6 ELECTRONIC TOLL COLLECTION MARKET: SUPPLY-SIDE ANALYSIS
           2.4.1 BOTTOM-UP APPROACH
                    2.4.1.1 Approach to arrive at market size using bottom-up analysis (demand side)
                               FIGURE 7 ELECTRONIC TOLL COLLECTION MARKET: BOTTOM-UP APPROACH
           2.4.2 TOP-DOWN APPROACH
                    2.4.2.1 Approach to arrive at market size using top-down approach (supply side)
                               FIGURE 8 ELECTRONIC TOLL COLLECTION MARKET: TOP-DOWN APPROACH
    2.5 GROWTH PROJECTIONS AND FORECAST-RELATED ASSUMPTIONS 
           TABLE 1 ELECTRONIC TOLL COLLECTION MARKET GROWTH ASSUMPTIONS
    2.6 MARKET BREAKDOWN AND DATA TRIANGULATION 
           FIGURE 9 ELECTRONIC TOLL COLLECTION MARKET: DATA TRIANGULATION
           2.6.1 RESEARCH ASSUMPTIONS
                    TABLE 2 ELECTRONIC TOLL COLLECTION MARKET: RESEARCH ASSUMPTIONS
           2.6.2 RESEARCH LIMITATIONS
           2.6.3 RISK ASSESSMENT
                    TABLE 3 ELECTRONIC TOLL COLLECTION MARKET: RISK ASSESSMENT
    2.7 PARAMETERS CONSIDERED TO ANALYZE RECESSION IMPACT 
           TABLE 4 ELECTRONIC TOLL COLLECTION MARKET: PARAMETERS CONSIDERED TO ANALYZE RECESSION IMPACT
 
3 EXECUTIVE SUMMARY (Page No. - 49)
    FIGURE 10 ELECTRONIC TOLL COLLECTION MARKET, 2020–2029 (USD MILLION)
    FIGURE 11 HIGHWAYS TO DOMINATE ELECTRONIC TOLL COLLECTION MARKET FROM 2024 TO 2029
    FIGURE 12 TRANSPONDERS/TAG-BASED TOLLING SYSTEMS TO LEAD ELECTRONIC TOLL COLLECTION MARKET THROUGHOUT FORECAST PERIOD
    FIGURE 13 OTHER TECHNOLOGIES TO RECORD HIGHEST CAGR IN ELECTRONIC TOLL COLLECTION MARKET DURING FORECAST PERIOD
    FIGURE 14 ASIA PACIFIC TO RECORD HIGHEST CAGR IN ELECTRONIC TOLL COLLECTION MARKET FROM 2024 TO 2029
 
4 PREMIUM INSIGHTS (Page No. - 53)
    4.1 ATTRACTIVE GROWTH OPPORTUNITIES FOR PLAYERS IN ELECTRONIC TOLL COLLECTION MARKET 
           FIGURE 15 TECHNOLOGICAL ADVANCEMENTS IN TRANSPORTATION INFRASTRUCTURE TO DRIVE ELECTRONIC TOLL COLLECTION MARKET GROWTH
    4.2 ELECTRONIC TOLL COLLECTION MARKET IN NORTH AMERICA, BY COUNTRY 
           FIGURE 16 US TO RECORD HIGHEST CAGR IN NORTH AMERICAN ELECTRONIC TOLL COLLECTION MARKET DURING FORECAST PERIOD
    4.3 ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION 
           FIGURE 17 HIGHWAYS TO REGISTER HIGHER CAGR IN ELECTRONIC TOLL COLLECTION MARKET DURING FORECAST PERIOD
    4.4 ELECTRONIC TOLL COLLECTION MARKET, BY OFFERING 
           FIGURE 18 BACK OFFICE & OTHER SERVICES SEGMENT TO RECORD HIGHER CAGR IN ELECTRONIC TOLL COLLECTION MARKET FROM 2024 TO 2029
    4.5 ELECTRONIC TOLL COLLECTION MARKET FOR HARDWARE OFFERINGS, BY REGION 
           FIGURE 19 ASIA PACIFIC TO WITNESS HIGHEST CAGR IN ELECTRONIC TOLL COLLECTION MARKET FOR HARDWARE OFFERINGS DURING FORECAST PERIOD
    4.6 ELECTRONIC TOLL COLLECTION MARKET, BY REGION 
           FIGURE 20 NORTH AMERICA TO HOLD LARGEST SHARE OF ELECTRONIC TOLL COLLECTION MARKET, IN TERMS OF VALUE, IN 2029
    4.7 ELECTRONIC TOLL COLLECTION MARKET, BY GEOGRAPHY 
           FIGURE 21 ASEAN COUNTRIES TO RECORD HIGHEST CAGR IN GLOBAL ELECTRONIC TOLL COLLECTION MARKET DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 57)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 22 ELECTRONIC TOLL COLLECTION MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    FIGURE 23 ELECTRONIC TOLL COLLECTION MARKET: IMPACT OF DRIVERS
                    5.2.1.1 Urgent need to mitigate traffic congestion and reduce road accidents
                    5.2.1.2 Strong government support to deploy advanced tolling solutions
                    5.2.1.3 High convenience of automated toll payment options
                    5.2.1.4 Technological advancements in transportation infrastructure
           5.2.2 RESTRAINTS
                    FIGURE 24 ELECTRONIC TOLL COLLECTION MARKET: IMPACT OF RESTRAINTS
                    5.2.2.1 Overreliance of ETC systems on technology and their susceptibility to technical failure
                    5.2.2.2 ETC implementation constraints in developing countries
                    5.2.2.3 High initial cost of GPS- and GNSS-based ETC systems
           5.2.3 OPPORTUNITIES
                    FIGURE 25 ELECTRONIC TOLL COLLECTION MARKET: IMPACT OF OPPORTUNITIES
                    5.2.3.1 Significant focus on minimizing fuel consumption and emissions for economic and environmental gains
                    5.2.3.2 Integration of blockchain technology into toll collection systems
                    5.2.3.3 Rising number of public–private partnership agreements in transportation sector
                    5.2.3.4 Increasing adoption of all-electronic tolling systems
           5.2.4 CHALLENGES
                    FIGURE 26 ELECTRONIC TOLL COLLECTION MARKET: IMPACT OF CHALLENGES
                    5.2.4.1 Data privacy concerns
                    5.2.4.2 Interoperability issues associated with tolling systems
    5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 
           FIGURE 27 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
    5.4 PRICING ANALYSIS 
           5.4.1 AVERAGE SELLING PRICE OF RFID DEVICES OFFERED BY KEY PLAYERS
                    FIGURE 28 AVERAGE SELLING PRICE OF RFID DEVICES OFFERED BY KEY PLAYERS
                    TABLE 5 AVERAGE SELLING PRICE OF RFID DEVICES AND SOFTWARE, 2015–2023 (USD)
           5.4.2 AVERAGE SELLING PRICE OF ELECTRONIC TOLL COLLECTION SYSTEM, BY REGION
                    TABLE 6 AVERAGE SELLING PRICE TREND, BY REGION (USD MILLION)
    5.5 VALUE CHAIN ANALYSIS 
           FIGURE 29 ELECTRONIC TOLL COLLECTION MARKET: VALUE CHAIN ANALYSIS
    5.6 ECOSYSTEM ANALYSIS 
           FIGURE 30 KEY PLAYERS IN ECOSYSTEM
           TABLE 7 ROLE OF PARTICIPANTS IN ECOSYSTEM
    5.7 INVESTMENT AND FUNDING SCENARIO 
           FIGURE 31 INVESTMENT AND FUNDING IN ELECTRONIC TOLL COLLECTION TECHNOLOGY
    5.8 TECHNOLOGY ANALYSIS 
           5.8.1 KEY TECHNOLOGIES
                    5.8.1.1 RFID
                    5.8.1.2 DSRC
           5.8.2 COMPLEMENTARY TECHNOLOGIES
                    5.8.2.1 GNSS/GPS
           5.8.3 ADJACENT TECHNOLOGIES
                    5.8.3.1 ALPR and ANPR
    5.9 PATENT ANALYSIS 
           TABLE 8 LIST OF MAJOR PATENTS, 2022–2023
           FIGURE 32 NUMBER OF PATENTS APPLIED AND GRANTED, 2013–2023
           FIGURE 33 REGIONAL ANALYSIS OF PATENTS, 2023
    5.10 TRADE ANALYSIS 
           5.10.1 IMPORT DATA
                    TABLE 9 IMPORT SCENARIO FOR HS CODE 8530-COMPLIANT PRODUCTS, BY COUNTRY, 2018–2022 (USD MILLION)
                    FIGURE 34 IMPORT DATA FOR HS CODE 8530-COMPLIANT PRODUCTS, BY COUNTRY, 2018–2022 (USD MILLION)
           5.10.2 EXPORT DATA
                    TABLE 10 EXPORT SCENARIO FOR HS CODE 8530-COMPLIANT PRODUCTS, BY COUNTRY, 2018–2022 (USD MILLION)
                    FIGURE 35 EXPORT DATA FOR HS CODE 8530-COMPLIANT PRODUCTS, BY COUNTRY, 2018–2022 (USD MILLION)
    5.11 KEY CONFERENCES AND EVENTS, 2023–2024 
           TABLE 11 ELECTRONIC TOLL COLLECTION: LIST OF KEY CONFERENCES AND EVENTS, 2023–2024
    5.12 CASE STUDY ANALYSIS 
           5.12.1 WESTERN DIGITAL AND THEOBROMA SYSTEMS PROVIDED CUSTOMIZED TOLL COLLECTION SYSTEM FOR EUROPEAN PROJECT
           5.12.2 SICE UPGRADED HUMBER BRIDGE TOLLING SYSTEM FOR OPTIMIZED TRAFFIC MANAGEMENT AND REVENUE GENERATION
           5.12.3 MASSACHUSETTS DEPARTMENT OF TRANSPORTATION SELECTED TRANSCORE FOR E-ZPASS CUSTOMER SERVICE ENHANCEMENT
           5.12.4 ERC SELECTED CLOUD-BASED TOLLING SOLUTION FROM COGNIZANT TO MAXIMIZE REVENUE
           5.12.5 PLUS MALAYSIA USED TAPWAY’S AI AND NVIDIA’S GPUS IN RFID TOLL TRACKING SYSTEM BASED ON ANPR TECHNOLOGY
    5.13 TARIFFS, REGULATIONS, AND STANDARDS 
           5.13.1 COUNTRY-WISE TARIFFS FOR HS CODE 8530-COMPLIANT PRODUCTS
                    TABLE 12 MFN TARIFF FOR HS CODE 8530-COMPLIANT PRODUCTS EXPORTED BY CHINA (2023)
           5.13.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 13 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 14 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 15 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 16 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           5.13.3 STANDARDS
    5.14 PORTER’S FIVE FORCES ANALYSIS 
           TABLE 17 ELECTRONIC TOLL COLLECTION MARKET: PORTER’S FIVE FORCES ANALYSIS
           FIGURE 36 ELECTRONIC TOLL COLLECTION MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.14.1 THREAT OF NEW ENTRANTS
           5.14.2 THREAT OF SUBSTITUTES
           5.14.3 BARGAINING POWER OF SUPPLIERS
           5.14.4 BARGAINING POWER OF BUYERS
           5.14.5 INTENSITY OF COMPETITIVE RIVALRY
    5.15 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 37 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION
                    TABLE 18 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION (%)
           5.15.2 BUYING CRITERIA
                    FIGURE 38 KEY BUYING CRITERIA, BY APPLICATION
                    TABLE 19 KEY BUYING CRITERIA, BY APPLICATION
 
6 PAYMENT METHODS ADOPTED TO PAY TOLLS (Page No. - 94)
    6.1 INTRODUCTION 
    6.2 PREPAID 
    6.3 POST-PAID 
 
7 ELECTRONIC TOLL COLLECTION MARKET, BY TYPE (Page No. - 95)
    7.1 INTRODUCTION 
           FIGURE 39 TRANSPONDERS/TAG-BASED TOLLING SYSTEMS TO HOLD LARGER SHARE OF ELECTRONIC TOLL COLLECTION MARKET IN 2029
           TABLE 20 ELECTRONIC TOLL COLLECTION MARKET, BY TYPE, 2020–2023 (USD MILLION)
           TABLE 21 ELECTRONIC TOLL COLLECTION MARKET, BY TYPE, 2024–2029 (USD MILLION)
    7.2 TRANSPONDERS/TAG-BASED TOLLING SYSTEMS 
           7.2.1 SCALABILITY, COST-EFFECTIVENESS, AND SEAMLESS INTEGRATION FEATURES TO SUPPORT HIGH DEMAND
           TABLE 22 TRANSPONDERS/TAG-BASED TOLLING SYSTEMS: ELECTRONIC TOLL COLLECTION MARKET, BY REGION, 2020–2023 (USD MILLION)
           TABLE 23 TRANSPONDERS/TAG-BASED TOLLING SYSTEMS ELECTRONIC TOLL COLLECTION MARKET, BY REGION, 2024–2029 (USD MILLION)
    7.3 OTHER TYPES 
           TABLE 24 OTHER TYPES: ELECTRONIC TOLL COLLECTION MARKET, BY REGION, 2020–2023 (USD MILLION)
           TABLE 25 OTHER TYPES: ELECTRONIC TOLL COLLECTION MARKET, BY REGION, 2024–2029 (USD MILLION)
 
8 ELECTRONIC TOLL COLLECTION MARKET, BY TECHNOLOGY (Page No. - 101)
    8.1 INTRODUCTION 
           FIGURE 40 RFID TECHNOLOGY TO CAPTURE LARGEST MARKET SHARE THROUGHOUT FORECAST PERIOD
           TABLE 26 ELECTRONIC TOLL COLLECTION MARKET, BY TECHNOLOGY, 2020–2023 (USD MILLION)
           TABLE 27 ELECTRONIC TOLL COLLECTION MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION)
    8.2 RADIO-FREQUENCY IDENTIFICATION (RFID) 
           8.2.1 LARGE-SCALE UTILIZATION OF RFID TAGS IN ETC SYSTEMS TO ACCELERATE SEGMENTAL GROWTH
    8.3 DEDICATED SHORT-RANGE COMMUNICATION (DSRC) 
           8.3.1 HIGH ADOPTION OF DSRC TECHNOLOGY-BASED ETC SYSTEMS IN EUROPE TO FUEL MARKET GROWTH
    8.4 OTHER TECHNOLOGIES 
 
9 ELECTRONIC TOLL COLLECTION MARKET, BY OFFERING (Page No. - 109)
    9.1 INTRODUCTION 
           FIGURE 41 BACK OFFICE & OTHER SERVICES TO DOMINATE ELECTRONIC TOLL COLLECTION MARKET THROUGHOUT FORECAST PERIOD
           TABLE 28 ELECTRONIC TOLL COLLECTION MARKET, BY OFFERING, 2020–2023 (USD MILLION)
           TABLE 29 ELECTRONIC TOLL COLLECTION MARKET, BY OFFERING, 2024–2029 (USD MILLION)
    9.2 HARDWARE 
           9.2.1 NEED FOR UNINTERRUPTED TRAFFIC FLOW AT TOLL PLAZAS TO BOOST ADOPTION
                    TABLE 30 HARDWARE: ELECTRONIC TOLL COLLECTION MARKET, BY REGION, 2020–2023 (USD MILLION)
                    TABLE 31 HARDWARE: ELECTRONIC TOLL COLLECTION MARKET, BY REGION, 2024–2029 (USD MILLION)
    9.3 BACK OFFICE & OTHER SERVICES 
           9.3.1 REQUIREMENT TO PROCESS HIGH-VOLUME TRANSACTIONS TO FUEL DEMAND
                    TABLE 32 BACK OFFICE & OTHER SERVICES: ELECTRONIC TOLL COLLECTION MARKET, BY REGION, 2020–2023 (USD MILLION)
                    TABLE 33 BACK OFFICE & OTHER SERVICES: ELECTRONIC TOLL COLLECTION MARKET, BY REGION, 2024–2029 (USD MILLION)
 
10 ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION (Page No. - 115)
     10.1 INTRODUCTION 
             FIGURE 42 HIGHWAYS TO CAPTURE LARGER MARKET SHARE THAN URBAN AREAS THROUGHOUT FORECAST PERIOD
             TABLE 34 ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
             TABLE 35 ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
     10.2 HIGHWAYS 
             10.2.1 GROWING TRAFFIC AT TOLL PLAZAS TO BOOST DEMAND
                        TABLE 36 HIGHWAYS: ELECTRONIC TOLL COLLECTION MARKET, BY REGION, 2020–2023 (USD MILLION)
                        TABLE 37 HIGHWAYS: ELECTRONIC TOLL COLLECTION MARKET, BY REGION, 2024–2029 (USD MILLION)
     10.3 URBAN AREAS 
             10.3.1 GROWING EMPHASIS ON TRAFFIC CONGESTION MANAGEMENT TO FOSTER MARKET GROWTH
                        TABLE 38 URBAN AREAS: ELECTRONIC TOLL COLLECTION MARKET, BY REGION, 2020–2023 (USD MILLION)
                        TABLE 39 URBAN AREAS: ELECTRONIC TOLL COLLECTION MARKET, BY REGION, 2024–2029 (USD MILLION)
 
11 ELECTRONIC TOLL COLLECTION MARKET, BY REGION (Page No. - 121)
     11.1 INTRODUCTION 
           FIGURE 43 NORTH AMERICA CAPTURED LARGEST MARKET SHARE IN 2023
           TABLE 40 ELECTRONIC TOLL COLLECTION MARKET, BY REGION, 2020–2023 (USD MILLION)
           TABLE 41 ELECTRONIC TOLL COLLECTION MARKET, BY REGION, 2024–2029 (USD MILLION)
           TABLE 42 ELECTRONIC TOLL COLLECTION MARKET FOR RFID TAGS, BY REGION, 2020–2023 (MILLION UNITS)
           TABLE 43 ELECTRONIC TOLL COLLECTION MARKET FOR RFID TAGS, BY REGION, 2024–2029 (MILLION UNITS)
     11.2 NORTH AMERICA 
            FIGURE 44 NORTH AMERICA: ELECTRONIC TOLL COLLECTION MARKET SNAPSHOT
            TABLE 44 NORTH AMERICA: ELECTRONIC TOLL COLLECTION MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
            TABLE 45 NORTH AMERICA: ELECTRONIC TOLL COLLECTION MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
            TABLE 46 NORTH AMERICA: ELECTRONIC TOLL COLLECTION MARKET, BY TYPE, 2020–2023 (USD MILLION)
            TABLE 47 NORTH AMERICA: ELECTRONIC TOLL COLLECTION MARKET, BY TYPE, 2024–2029 (USD MILLION)
            TABLE 48 NORTH AMERICA: ELECTRONIC TOLL COLLECTION MARKET, BY OFFERING, 2020–2023 (USD MILLION)
            TABLE 49 NORTH AMERICA: ELECTRONIC TOLL COLLECTION MARKET, BY OFFERING, 2024–2029 (USD MILLION)
            TABLE 50 NORTH AMERICA: ELECTRONIC TOLL COLLECTION MARKET, BY TECHNOLOGY, 2020–2023 (USD MILLION)
            TABLE 51 NORTH AMERICA: ELECTRONIC TOLL COLLECTION MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION)
            TABLE 52 NORTH AMERICA: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
            TABLE 53 NORTH AMERICA: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
             11.2.1 US
                        11.2.1.1 Growing emphasis on modernizing road infrastructure to boost demand
                                     TABLE 54 US: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
                                     TABLE 55 US: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
             11.2.2 CANADA
                        11.2.2.1 Rising installation of ETC systems on major highways and bridges to drive market
                                     TABLE 56 CANADA: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
                                     TABLE 57 CANADA: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
             11.2.3 MEXICO
                        11.2.3.1 Increasing number of projects for connecting neighboring countries to contribute to market growth
                                     TABLE 58 MEXICO: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
                                     TABLE 59 MEXICO: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
             11.2.4 RECESSION IMPACT ON MARKET IN NORTH AMERICA
     11.3 EUROPE 
             FIGURE 45 EUROPE: ELECTRONIC TOLL COLLECTION MARKET SNAPSHOT
             TABLE 60 EUROPE: ELECTRONIC TOLL COLLECTION MARKET, BY GEOGRAPHY, 2020–2023 (USD MILLION)
             TABLE 61 EUROPE: ELECTRONIC TOLL COLLECTION MARKET, BY GEOGRAPHY, 2024–2029 (USD MILLION)
             TABLE 62 EUROPE: ELECTRONIC TOLL COLLECTION MARKET, BY TYPE, 2020–2023 (USD MILLION)
             TABLE 63 EUROPE: ELECTRONIC TOLL COLLECTION MARKET, BY TYPE, 2024–2029 (USD MILLION)
             TABLE 64 EUROPE: ELECTRONIC TOLL COLLECTION MARKET, BY OFFERING, 2020–2023 (USD MILLION)
             TABLE 65 EUROPE: ELECTRONIC TOLL COLLECTION MARKET, BY OFFERING, 2024–2029 (USD MILLION)
             TABLE 66 EUROPE: ELECTRONIC TOLL COLLECTION MARKET, BY TECHNOLOGY, 2020–2023 (USD MILLION)
             TABLE 67 EUROPE: ELECTRONIC TOLL COLLECTION MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION)
             TABLE 68 EUROPE: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
             TABLE 69 EUROPE: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
             11.3.1 EU5 COUNTRIES
                        11.3.1.1 Presence of various automobile manufacturers and ETC solution providers to accelerate market growth
                                     TABLE 70 EU5 COUNTRIES: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
                                     TABLE 71 EU5 COUNTRIES: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
             11.3.2 WESTERN EUROPE
                        11.3.2.1 Significant focus of key players, such as Kapsch TrafficCom and EFKON GmbH, on securing ETC projects to drive market
                                     TABLE 72 WESTERN EUROPE: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
                                     TABLE 73 WESTERN EUROPE: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
     11.4 REST OF EUROPE 
             TABLE 74 REST OF EUROPE: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
             TABLE 75 REST OF EUROPE: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
             11.4.1 RECESSION IMPACT ON MARKET IN EUROPE
     11.5 ASIA PACIFIC 
             FIGURE 46 ASIA PACIFIC: ELECTRONIC TOLL COLLECTION MARKET SNAPSHOT
             TABLE 76 ASIA PACIFIC: ELECTRONIC TOLL COLLECTION MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
             TABLE 77 ASIA PACIFIC: ELECTRONIC TOLL COLLECTION MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
             TABLE 78 ASIA PACIFIC: ELECTRONIC TOLL COLLECTION MARKET, BY TYPE, 2020–2023 (USD MILLION)
             TABLE 79 ASIA PACIFIC: ELECTRONIC TOLL COLLECTION MARKET, BY TYPE, 2024–2029 (USD MILLION)
             TABLE 80 ASIA PACIFIC: ELECTRONIC TOLL COLLECTION MARKET, BY OFFERING, 2020–2023 (USD MILLION)
             TABLE 81 ASIA PACIFIC: ELECTRONIC TOLL COLLECTION MARKET, BY OFFERING, 2024–2029 (USD MILLION)
             TABLE 82 ASIA PACIFIC: ELECTRONIC TOLL COLLECTION MARKET, BY TECHNOLOGY, 2020–2023 (USD MILLION)
             TABLE 83 ASIA PACIFIC: ELECTRONIC TOLL COLLECTION MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION)
             TABLE 84 ASIA PACIFIC: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
             TABLE 85 ASIA PACIFIC: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
             11.5.1 CHINA
                        11.5.1.1 Strong government support to automate toll payments to boost ETC system adoption
                                     TABLE 86 CHINA: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
                                     TABLE 87 CHINA: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
             11.5.2 JAPAN
                        11.5.2.1 Rising need to reduce traffic at toll gates to fuel ETC demand
                                     TABLE 88 JAPAN: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
                                     TABLE 89 JAPAN: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
             11.5.3 ASEAN COUNTRIES
                        11.5.3.1 Multi-lane free-flow (MLFF) system project in Indonesia to support market growth
                                     TABLE 90 ASEAN COUNTRIES: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
                                     TABLE 91 ASEAN COUNTRIES: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
             11.5.4 REST OF ASIA PACIFIC
                        TABLE 92 REST OF ASIA PACIFIC: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
                        TABLE 93 REST OF ASIA PACIFIC: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
             11.5.5 RECESSION IMPACT ON MARKET IN ASIA PACIFIC
     11.6 ROW 
             TABLE 94 ROW: ELECTRONIC TOLL COLLECTION MARKET, BY REGION, 2020–2023 (USD MILLION)
             TABLE 95 ROW: ELECTRONIC TOLL COLLECTION MARKET, BY REGION, 2024–2029 (USD MILLION)
             TABLE 96 ROW: ELECTRONIC TOLL COLLECTION MARKET, BY TYPE, 2020–2023 (USD MILLION)
             TABLE 97 ROW: ELECTRONIC TOLL COLLECTION MARKET, BY TYPE, 2024–2029 (USD MILLION)
             TABLE 98 ROW: ELECTRONIC TOLL COLLECTION MARKET, BY OFFERING, 2020–2023 (USD MILLION)
             TABLE 99 ROW: ELECTRONIC TOLL COLLECTION MARKET, BY OFFERING, 2024–2029 (USD MILLION)
             TABLE 100 ROW: ELECTRONIC TOLL COLLECTION MARKET, BY TECHNOLOGY, 2020–2023 (USD MILLION)
             TABLE 101 ROW: ELECTRONIC TOLL COLLECTION MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION)
             TABLE 102 ROW: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
             TABLE 103 ROW: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
             11.6.1 SOUTH AMERICA
                        11.6.1.1 Wide network of roads to fuel deployment of ETC systems
                                     TABLE 104 SOUTH AMERICA: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
                                     TABLE 105 SOUTH AMERICA: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
             11.6.2 MIDDLE EAST & AFRICA
                         TABLE 106 MIDDLE EAST & AFRICA: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
                         TABLE 107 MIDDLE EAST & AFRICA: ELECTRONIC TOLL COLLECTION MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
                        11.6.2.1 GCC countries
                                     11.6.2.1.1 Rising government initiatives toward smart city development to augment market growth
                        11.6.2.2 Rest of Middle East & Africa
                                     TABLE 108 MIDDLE EAST & AFRICA: ELECTRONIC TOLL COLLECTION MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
                                     TABLE 109 MIDDLE EAST & AFRICA: ELECTRONIC TOLL COLLECTION MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
             11.6.3 RECESSION IMPACT ON MARKET IN ROW
 
12 COMPETITIVE LANDSCAPE (Page No. - 154)
     12.1 OVERVIEW 
     12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2020–2023 
             TABLE 110 OVERVIEW OF STRATEGIES ADOPTED BY KEY MARKET PLAYERS, 2020–2023
     12.3 ELECTRONIC TOLL COLLECTION MARKET SHARE ANALYSIS, 2023 
             FIGURE 47 ELECTRONIC TOLL COLLECTION MARKET SHARE ANALYSIS, 2023
             TABLE 111 ELECTRONIC TOLL COLLECTION MARKET: DEGREE OF COMPETITION, 2023
     12.4 REVENUE ANALYSIS OF TOP PLAYERS, 2019–2023 
             FIGURE 48 FIVE-YEAR REVENUE ANALYSIS OF TOP 5 PLAYERS IN ELECTRONIC TOLL COLLECTION MARKET, 2019–2023
     12.5 COMPANY VALUATION AND FINANCIAL METRICS 
             FIGURE 49 ELECTRONIC TOLL COLLECTION MARKET MAP
     12.6 ELECTRONIC TOLL COLLECTION MARKET: FINANCIAL METRICS 
             FIGURE 50 FINANCIAL METRICS
     12.7 ELECTRONIC TOLL COLLECTION MARKET: BRAND/PRODUCT COMPARISON 
            FIGURE 51 BRAND COMPARISON
     12.8 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 
             12.8.1 STARS
             12.8.2 EMERGING LEADERS
             12.8.3 PERVASIVE PLAYERS
             12.8.4 PARTICIPANTS
                        FIGURE 52 ELECTRONIC TOLL COLLECTION MARKET: COMPANY EVALUATION MATRIX, (KEY PLAYERS), 2023
             12.8.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
                        12.8.5.1 Company footprint
                                     FIGURE 53 ELECTRONIC TOLL COLLECTION MARKET: COMPANY FOOTPRINT
                        12.8.5.2 Offering footprint
                                     TABLE 112 ELECTRONIC TOLL COLLECTION MARKET: OFFERING FOOTPRINT
                        12.8.5.3 Type footprint
                                     TABLE 113 ELECTRONIC TOLL COLLECTION MARKET: TYPE FOOTPRINT
                        12.8.5.4 Technology footprint
                                     TABLE 114 ELECTRONIC TOLL COLLECTION MARKET: TECHNOLOGY FOOTPRINT
                        12.8.5.5 Application footprint
                                     TABLE 115 ELECTRONIC TOLL COLLECTION MARKET: APPLICATION FOOTPRINT
                        12.8.5.6 Region footprint
                                     TABLE 116 ELECTRONIC TOLL COLLECTION MARKET: REGION FOOTPRINT
     12.9 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 
             12.9.1 PROGRESSIVE COMPANIES
             12.9.2 RESPONSIVE COMPANIES
             12.9.3 DYNAMIC COMPANIES
             12.9.4 STARTING BLOCKS
                        FIGURE 54 ELECTRONIC TOLL COLLECTION MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2023
             12.9.5 COMPETITIVE BENCHMARKING, STARTUPS/SMES, 2023
                        12.9.5.1 Detailed list of startups/SMEs
                                     TABLE 117 ELECTRONIC TOLL COLLECTION MARKET: LIST OF KEY STARTUPS/SMES
                        12.9.5.2 Competitive benchmarking of key startups/SMES
                                     TABLE 118 ELECTRONIC TOLL COLLECTION MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
     12.1 COMPETITIVE SCENARIOS AND TRENDS 
             12.10.1 PRODUCT LAUNCHES
                        TABLE 119 ELECTRONIC TOLL COLLECTION MARKET: PRODUCT LAUNCHES, JANUARY 2020–DECEMBER 2023
             12.10.2 DEALS
                        TABLE 120 ELECTRONIC TOLL COLLECTION MARKET: DEALS, JANUARY 2020–DECEMBER 2023
             12.10.3 EXPANSIONS
                        TABLE 121 ELECTRONIC TOLL COLLECTION MARKET: EXPANSIONS, JANUARY 2020–DECEMBER 2023
 
13 COMPANY PROFILES (Page No. - 176)
(Business Overview, Products Offered, Recent Developments, MnM View Right to win, Strategic choices made, Weaknesses and competitive threats) *  
     13.1 KEY PLAYERS 
             13.1.1 KAPSCH TRAFFICCOM AG
                        TABLE 122 KAPSCH TRAFFICCOM AG: COMPANY OVERVIEW
                        FIGURE 55 KAPSCH TRAFFICCOM AG: COMPANY SNAPSHOT
                        TABLE 123 KAPSCH TRAFFICCOM AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 124 KAPSCH TRAFFICCOM AG: DEALS
                        TABLE 125 KAPSCH TRAFFICCOM AG: EXPANSIONS
             13.1.2 CONDUENT, INC.
                        TABLE 126 CONDUENT, INC.: COMPANY OVERVIEW
                        FIGURE 56 CONDUENT, INC.: COMPANY SNAPSHOT
                        TABLE 127 CONDUENT, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 128 CONDUENT, INC.: DEALS
             13.1.3 EFKON GMBH
                        TABLE 129 EFKON GMBH: COMPANY OVERVIEW
                        TABLE 130 EFKON GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 131 EFKON GMBH: PRODUCT LAUNCHES
                        TABLE 132 EFKON GMBH: OTHERS
             13.1.4 TRANSCORE
                        TABLE 133 TRANSCORE: COMPANY OVERVIEW
                        TABLE 134 TRANSCORE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 135 TRANSCORE: PRODUCT LAUNCHES
                        TABLE 136 TRANSCORE: DEALS
                        TABLE 137 TRANSCORE: OTHERS
             13.1.5 THALES
                        TABLE 138 THALES: COMPANY OVERVIEW
                        FIGURE 57 THALES: COMPANY SNAPSHOT
                        TABLE 139 THALES: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 140 THALES: DEALS
             13.1.6 CUBIC CORPORATION
                        TABLE 141 CUBIC CORPORATION: COMPANY OVERVIEW
                        TABLE 142 CUBIC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 143 CUBIC CORPORATION: PRODUCT LAUNCHES
             13.1.7 SIEMENS
                        TABLE 144 SIEMENS: COMPANY OVERVIEW
                        FIGURE 58 SIEMENS: COMPANY SNAPSHOT
                        TABLE 145 SIEMENS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             13.1.8 INFINEON TECHNOLOGIES AG
                        TABLE 146 INFINEON TECHNOLOGIES AG: COMPANY OVERVIEW
                        FIGURE 59 INFINEON TECHNOLOGIES AG: COMPANY SNAPSHOT
                        TABLE 147 INFINEON TECHNOLOGIES AG: PRODUCT/SERVICE/SOLUTION OFFERED
             13.1.9 NEOLOGY
                        TABLE 148 NEOLOGY: COMPANY OVERVIEW
                        TABLE 149 NEOLOGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 150 NEOLOGY: DEALS
             13.1.10 FEIG ELECTRONIC
                        TABLE 151 FEIG ELECTRONIC: COMPANY OVERVIEW
                        TABLE 152 FEIG ELECTRONIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 153 FEIG ELECTRONIC: PRODUCT LAUNCHES
                        TABLE 154 FEIG ELECTRONIC: DEALS
     13.2 OTHER PLAYERS 
             13.2.1 TOSHIBA CORPORATION
             13.2.2 MITSUBISHI HEAVY INDUSTRIES, LTD.
             13.2.3 Q-FREE
             13.2.4 QUARTERHILL INC.
             13.2.5 PERCEPTICS, LLC
             13.2.6 STAR SYSTEMS INTERNATIONAL LTD.
             13.2.7 GEA
             13.2.8 ADAPTIVE RECOGNITION INC.
             13.2.9 SICE
             13.2.10 JENOPTIK AG
             13.2.11 FAR EASTERN ELECTRONIC TOLL COLLECTION CO. LTD. (FETC)
             13.2.12 TOLL COLLECT GMBH
             13.2.13 GEOTOLL
             13.2.14 INDRA SISTEMAS, S.A.
             13.2.15 KISTLER GROUP
*Details on Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies.  
 
14 APPENDIX (Page No. - 222)
     14.1 INSIGHTS FROM INDUSTRY EXPERTS 
     14.2 DISCUSSION GUIDE 
     14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     14.4 CUSTOMIZATION OPTIONS 
     14.5 RELATED REPORTS 
     14.6 AUTHOR DETAILS 
 

The study involved four major activities in estimating the size of the electronic toll collection market. Exhaustive secondary research has been carried out to collect information on the market, the peer markets, and the parent market. Both top-down and bottom-up approaches have been employed to estimate the total market size. Market breakdown and data triangulation methods have also been used to estimate the market for segments and subsegments.

Secondary Research

Revenues of companies offering electronic toll collection systems have been obtained from the secondary data available through paid and unpaid sources. The revenues have also been derived by analyzing the product portfolio of key companies, and these companies have been rated according to the performance and quality of their products.

In the secondary research process, various sources have been referred to for identifying and collecting information for this study on the electronic toll collection market. Secondary sources considered for this research study include government sources, corporate filings, and trade, business, and professional associations. Secondary data has been collected and analyzed to arrive at the overall market size, which has been further validated through primary research.    

Secondary research has been mainly used to obtain key information about the supply chain of electronic toll collection systems to identify key players based on their products and prevailing industry trends in the electronic toll collection market by offering, type, panel size, location, vertical, and region. Secondary research also helped obtain market information- and technology-oriented key developments undertaken by market players to expand their presence and increase their market share.  

Primary Research

Extensive primary research has been conducted after understanding and analyzing the current scenario of the electronic toll collection market through secondary research. Several primary interviews have been conducted with the key opinion leaders from the demand and supply sides across four main regions—North America, Europe, Asia Pacific, and the Rest of Europe. Approximately 25% of the primary interviews were conducted with the demand-side respondents, while approximately 75% were conducted with the supply-side respondents. The primary data has been collected through questionnaires, emails, and telephone interviews.

After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primary. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report. The breakdown of primary respondents is as follows:

Electronic Toll Collection Market
 Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The bottom-up procedure has been employed to arrive at the overall size of the electronic toll collection market.

  • Identifying applications wherein electronic toll collection systems are deployed or are expected to use
  • Analyzing major providers of electronic toll collections and original equipment manufacturers (OEMs), as well as studying their portfolios and understanding different technologies used
  • Analyzing the average selling price of electronic toll collection systems powered by different technologies
  • Arriving at the market estimates by analyzing the revenue of companies and then combining these figures to arrive at the market size
  • Studying various paid and unpaid sources, such as annual reports, press releases, white papers, and databases, to gather the required information
  • Tracking the ongoing developments and identifying the upcoming developments in the market that include investments, research and development activities, product launches, contracts, collaborations, and partnerships undertaken, and forecasting the market size based on these developments
  • Carrying out multiple discussions with the key opinion leaders to understand the installation of electronic toll collection systems and the sales of related raw materials and products to analyze the break-up of the scope of work carried out by the key companies manufacturing panels
  • Verifying and cross-checking the estimate at every level through discussions with key opinion leaders, such as chief executives (CXOs), directors, and operation managers, and finally with the domain experts in MarketsandMarkets.

Electronic Toll Collection Market
 Size, and Bottom-up Approach

The top-down approach has been used to estimate and validate the total size of the electronic toll collection market.

  • Focusing on top-line investments and expenditures being made in the ecosystems of various applications
  • Calculating the market size, considering revenues from major players through the cost of electronic toll collection systems
  • Segmenting each application of the electronic toll collection system in each region and deriving the global market size based on the region
  • Acquiring and analyzing information related to revenues generated by players through their crucial product offerings
  • Conducting multiple on-field discussions with key opinion leaders involved in developing various electronic toll collection solutions
  • Estimating the geographic split using secondary sources based on various factors, such as the number of players in a specific country and region and the types of components, levels of services offered, and types of software implemented

Electronic Toll Collection Market
 Size, and Top-down Approach

Data Triangulation

After arriving at the overall market size-using the market size estimation processes as explained above-the market has been split into several segments and subsegments. To complete the entire market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from the demand and supply sides in the electronic toll collection market.

Market Definition

The electronic toll collection (ETC) system automates the process of collecting tolls on roads, bridges, tunnels, etc. The system eliminates the need for drivers to stop and pay tolls manually by using cash or tokens, thereby reducing traffic congestion and improving the efficiency of toll collection.

In an ETC system, vehicles equipped with electronic transponders or tags are able to pass through toll booths or designated lanes without stopping. These transponders communicate with overhead gantries or roadside equipment, allowing tolls to be automatically deducted from a prepaid account linked to the transponder. Alternatively, some ETC systems utilize license plate recognition technology to identify vehicles and calculate the toll amount accordingly.

The benefits of an ETC system include reduced travel times, increased convenience for drivers, improved traffic flow, and lower operational costs for toll authorities. Additionally, ETC systems can support dynamic toll pricing strategies, where toll rates vary based on factors such as time of day, level of congestion, or vehicle type, helping to manage traffic demand more effectively. Overall, the ETC system plays a crucial role in modern transportation infrastructure by streamlining toll collection processes and enhancing the overall driving experience.

Key Stakeholders

  • Original device manufacturers (ODMs)
  • System integrators
  • Software providers
  • Raw material and manufacturing equipment suppliers
  • Electronic toll collection system manufacturers
  • Government departments such as municipal corporations, transport agencies, highway authorities, and road construction corporations
  • Research organizations
  • Technology standards organizations, forums, alliances, and associations
  • End users
  • Technical universities
  • Government/private research institutes
  • Market research and consulting firms

Report Objectives

  • To describe and forecast the size of the electronic toll collection market, by type, technology, offering, application, and region, in terms of value
  • To describe and forecast the market size of various segments across four key regions—North America, Europe, Asia Pacific, and Rest of the World (RoW), in terms of value
  • To describe the payment methods through which the toll can be paid electronically
  • To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the electronic toll collection market 
  • To analyze the electronic toll collection value chain and ecosystem, along with the average selling price of electronic toll collection systems
  • To strategically analyze the regulatory landscape, tariff, standards, patents, Porter’s five forces, import and export scenarios, trade values, and case studies pertaining to the market under study
  • To strategically analyze micromarkets1 with regard to individual growth trends, prospects, and contributions to the overall market
  • To analyze opportunities in the market for stakeholders by identifying high-growth segments
  • To provide details of the competitive landscape for market leaders
  • To analyze strategies such as joint ventures, product launches, contracts, collaborations, acquisitions, partnerships, and expansions adopted by players in the electronic toll collection market
  • To profile key players in the electronic toll collection market and comprehensively analyze their market ranking based on their revenue, market share, and core competencies2  

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

  • Detailed analysis and profiling of additional market players based on various blocks of the supply chain
Custom Market Research Services

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Report Code
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Published ON
Mar, 2024
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