Electronic Toll Collection Market

Electronic Toll Collection Market worth $10.0 billion by 2025

The report "Electronic Toll Collection Market with COVID-19 Impact Analysis by Technology (RFID, DSRC, ANPR/ALPR, and Satellite-Based), Offering (Hardware, and Back Office), Application (Highways, Urban Area), Type, and Region - Global Forecast to 2025" The electronic toll collection market is projected to reach USD 10.0 billion by 2025 from USD 6.9 billion in 2020; it is expected to grow at a CAGR of 7.7% during the forecast period. The major drivers for growth of the ETC market are strong government support to accelerate electronic toll collection, greater convenience and flexibility of cashless payments, and increased use of advanced technologies in transportation infrastructure. Moreover, rising number of public-private partnership agreements in the transportation sector, and increasing transition to All Electronic Tolling (AET) systems from manual or coin-based tolling systems are expected to create growth opportunities for the market

Browse 78 market data Tables and 56 Figures spread through 184 Pages and in-depth TOC on "Electronic Toll Collection Market with COVID-19 Impact Analysis by Technology (RFID, DSRC, ANPR/ALPR, and Satellite-Based), Offering (Hardware, and Back Office), Application (Highways, Urban Area), Type, and Region - Global Forecast to 2025"
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RFID technology segment of the electronic toll collection market is projected to grow at the highest CAGR during the forecast period.

RFID technology utilizes its radio-frequency electromagnetic fields for the identification of objects that carry RFID tags. This technology is used in electronic identification, tracking, and storing information contained on the tag. Two-way radio transmitters/receivers called interrogators or readers send a signal to the tag and read its response. RFID readers scan the tag and then send that information to the database for storing. RFID is a prominent technology used in ETC systems owing to its low operational cost.

A few companies that provide RFID-based ETC systems include TransCore (US), Neology (US), Autostrade per l’Italia (Italy), GeoToll (US), and Star Systems International (US).

Among application, the highways segment is projected to hold a larger share of the electronic toll collection market during the forecast period.

Technologically advanced ETC systems have provided an efficient way to overcome all the problems related to toll collection on highways. Nowadays, ETC systems based on leading-edge technologies such as RFID, DSRC-, video analytics, and GNSS/GPS are being used. ETC systems have been playing a crucial role in collecting a toll on highways, tunnels, and bridges wherein conventional or manual toll collection has been transitioning to all-electronic tolling (AET) and high-tech transportation systems. The electronic toll collection market is significantly driven by its adoption mainly in developing countries. Government initiatives to promote faster payments of toll fees through a digital mode and decongest highways would generate immense growth opportunities for the ETC market.

The electronic toll collection market in North America is projected to hold the largest share in 2025.

North America is expected to continue to lead the electronic toll collection market by capturing the largest market size throughout the forecast period. The US and Canada are the key countries in North America with most vehicles per person, which is one of the most contributing factors to the growth of the electronic toll collection market. Additionally, both the countries have the largest networks of interstate and state highways wherein advanced toll collection systems are installed at many locations, and several toll installation projects are in progress for lanes with high traffic. Leading companies such as TransCore (US), Raytheon (US), and Conduent (US) in the electronic toll collection market have their base in North America while having operations in countries across the world. They contribute significantly to the growth of the electronic toll collection market in the region.

Kapsch TrafficCom (Austria), Conduent, Inc. (US), Efkon GmbH (Germany), TransCore (US), Thales Group (France). Raytheon Technology Corporation (US), Cubic Corporation (US), Siemens AG (Germany), Neology Inc. (US), and Feig Electronics (Germany) are a few major players in the electronic toll collection market.

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