Electronic Toll Collection Market

Market Leadership - Electronic Toll Collection Market

The Electronic toll collection market is projected to grow from USD 8.3 billion in 2022 to USD 11.4 billion by 2027; it is expected to grow at a CAGR of 6.5% from 2022 to 2027. The key factors fueling the growth of this market include reduction in traffic congestion, accidents, and environmental pollution, high government support for increasing deployment of electronic toll collection systems, increased convenience due to cashless payments, and technological advancements in transportation infrastructure.

The Electronic toll collection market is dominated by key established players such as Kapsch TrafficCom AG (Austria), Conduent, Inc. (US), EFKON GmbH (Austria), TransCore (US), Thales (France), Raytheon Technology Corporation (US), Cubic Corporation (US), and Siemens (Germany). These companies focus on adopting both organic and inorganic growth strategies, such as product launches and developments, partnerships, contracts, expansions, and acquisitions to strengthen their position in the market.

Kapsch TrafficCom AG (Austria) was established in 1991 and is headquartered in Vienna, Austria—it is a part of the Kapsch Group. The company supplies information and communication technologies, solutions, and services for intelligent transport systems (ITSs), which use information and technologies to support and optimize road transportation, including infrastructure, vehicles, users, and industries. The company also offers ITS for several applications, including traffic safety and security, smart urban mobility, tolling, traffic management, and connected vehicles. The company operates through the Electronic Toll Collection and Intelligent Mobility Solutions segments. The Electronic Toll Collection segment is engaged in the installation and technical and commercial operations of toll collection systems. It caters to both individual road sections and nationwide road sections. The company provides the design and operation services for road user charging, urban access and parking, and traffic management. For electronic toll collection in free-flowing traffic, the company offers various technologies for electronic tolling. These fully automated solutions help customers ensure mobility, thus preventing congestion and reducing pollution.

Kapsch TrafficCom is one of the leading providers of electronic toll collection systems. It offers complete solutions with a multi-technology approach for meeting all types of requirements and regional standards. The company offers a wide product and solution portfolio. It continuously expands its horizon by signing new contracts, opening new subsidiaries and business units, and acquiring other companies. The company has been signing contracts to expand the offering of electronic tolling services in Europe; for instance, it expanded its tolling services by acquiring 35% interest in tolltickets GmbH.

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Conduent, Inc. (US), formerly known as Xerox Corporation, separated from Xerox in January 2017 and is currently operating as Conduent, Inc. The company is headquartered in New Jersey, US, and offers business process services with expertise in transaction-intensive processing, analytics, and automation. The company’s services are used in various applications, such as medical billing, Medicaid screening, electronic toll collection, patient support services, social security, food stamps, and prepaid card processing. Conduent operates through the following segments: Commercial Industries, Government Services, and Transportation. The Commercial Industries segment provides business process services and customized solutions, including transaction processing, commercial healthcare, and learning services, to clients from various industries, such as automotive, aerospace & defense, communications and media, healthcare, and IT. The Government Services segment offers government-centric business process services to the US federal, state, local, and foreign governments. The Transportation segment provides systems and support to transportation departments and agencies globally, including fare collection, violation management, notification, mobility, and payment solutions. The company delivers mission-critical services and solutions on behalf of businesses and governments. Through people, processes, and technologies, Conduent’s solutions and services automate workflows, improve efficiencies, reduce operational costs, and enable revenue growth. The company offers solutions for public safety, transit, curbside management, and road usage charging. Road usage charging solutions include tolling, distance-based, and urban congestion management solutions.

With the growing need for traffic congestion solutions worldwide, Conduent’s SureView Detection System and Automated License plate recognition system are widely used as innovative technology-based electronic toll collection solutions. They are the world’s largest electronic toll collection back-office systems, making it easier for the company to pave its way to lead the electronic toll collection market. The company’s electronic tolling solutions help reduce traffic congestion, improve overall mobility, and foster safer and more predictable travel times. Back-office systems offered by the company make it easy for account owners to interact with customers through various communication channels, such as voice, email, text, or chatbot, and resolve their queries. Such solutions and services help the company to stand out from others.

TransCore (US) delivers innovative products and services to transportation departments and agencies across the globe. Its mission is to provide engineering solutions for safer, more reliable travel on roads, bridges, tunnels, and highways. TransCore is a wholly owned subsidiary of Roper Technologies and is one of the global leaders in the transportation industry. The company provides innovative, technical solutions and engineering services for applications encompassing next-generation open road tolling (ORT) and traffic management systems. It operates tolling customer service centers for departments of transportation throughout the US and internationally. Being a pioneer in RFID systems used in the transportation industry, TransCore secures access to airports, hospitals, parking garages, border patrols, trucking fleets, and the railway industry. TransCore has been a leader in electronic tolling solutions, ITS, tolling customer service and revenue transactions, and RFID technologies for tolling and access control.

Every 11 out of 15 large toll agencies in the US utilize TransCore’s toll collection systems for all tolling operations. The company focuses on collaborating with different government agencies for the installation and deployment of toll collection systems. For instance, in December 2019, TransCore signed a contract with the North Carolina Turnpike Authority (NCTA) to design and implement its customer service technology platform to provide transparency in all transactions and continue enhancing the customer experience for tolling facilities throughout the state. There is a massive potential for the electronic toll collection market in North America, creating lucrative opportunities for the company. Robust portfolio of smart, advanced, and readily deployable tolling systems and the fact that the company is a trusted brand in the North American electronic toll collection market are helping it sustain its position in the market.

Related Reports:

Electronic Toll Collection Market by Technology (RFID, DSRC, Video Analytics, ANPR/ALPR, GNSS/GPS), Offering (Hardware, and Back-Office), Application (Highways, Urban Area), Type, and Region (North America, Europe, APAC, RoW) - Global Forecast to 2027

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Electronic Toll Collection Market Size,  Share & Growth Report
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SE 3461
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