Global Electronic Toll Collection Market, By Type (Transponder/Tag-Based, Others), Technology (RFID, DSRC, Others), Offering (Hardware, Back Office & Other Services), Application (Highways, Urban Areas), Parameters of Toll Amount (Distance Based, Point Based, Time Based, Perimeter Based), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Electronic Toll Collection Market
The electronic toll collection market is expected to witness market growth at a rate of 8.58% in the forecast period of 2021 to 2028. Data Bridge Market Research report on electronic toll collection market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The initiatives taken by government to support the electronic toll are escalating the growth of electronic toll collection market.
Electronic toll collection refers to the cashless toll collection technology which assists in solving the problem of traffic congestion on various toll collecting sites because of the time-consuming process of cash or plastic money collection. These tolls do not require the vehicles to stop at the toll booths for collection. These systems collect by scanning the vehicles to stop at the toll booths. They operate by the cash tolls so that vehicles can cross the booth without any transponders. A toll road is private or public roadway which charges fee for passage. Electronic toll collection prevents traffic rush as it eliminates manual operation.
The high adoption of these systems owning to the use of the latest technological solutions including GPS & GNSS toll collection, tracking solutions and DSRC and the utilization of video analytics to efficiently manage traffic in highly congested areas act as the major factors drives the electronic toll collection market. The rise in demand for safety and efficiency of transportation infrastructure, technological advancements in this industry including GNSS and GPS technology and the initiatives by government to encourage the collection accelerate the electronic toll collection market growth. The increasing investment on toll lanes, the implementation of government new standards and regulations regarding the implementation of these systems and tolling and the convenience and flexibility of cashless payments influence the electronic toll collection market. Additionally, the high rate of acceptance due to effective solution for reducing traffic congestion, accidents and environmental pollution, rapid urbanization, improvement in transportation infrastructure and growing use of advanced digital technologies among consumers positively affect the electronic toll collection market. Furthermore, rise in utilization of blockchain technology in toll collection systems, surge in utilization of blockchain technology in toll collection systems from coin-based or manual tolling systems and increase in collaborations among public and private sector for transportation extend profitable opportunities to the electronic toll collection market players in the forecast period of 2021 to 2028.
On the other hand, implementation of stringent regulatory norms across some regions is expected to obstruct the electronic toll collection market growth. The rise in issues associated with the common standards, interoperability and selection of toll technology is projected to challenge the electronic toll collection market.
This electronic toll collection market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on electronic toll collection market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Electronic Toll Collection Market Scope and Market Size
The electronic toll collection market is segmented on the basis of type, technology, offering, application and parameters of toll amount. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the electronic toll collection market is segmented into transponder/tag-based and others.
- On the basis of technology, the electronic toll collection market is segmented into RFID, DSRC and others.
- On the basis of offering, the electronic toll collection market is segmented into hardware and back office and other services.
- On the basis of application, the electronic toll collection market is segmented into highways and urban areas.
- On the basis of parameters of toll amount, the electronic toll collection market is segmented into distance based, point based, time based and perimeter based.
Global Electronic Toll Collection Market Country Level Analysis
The electronic toll collection market is analyzed and market size, volume information is provided by country, type, technology, offering, application and parameters of toll amount as referenced above.
The countries covered in the global electronic toll collection market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the electronic toll collection market because of the high number of vehicles, the largest networks of interstate and state highways, installation advanced toll collection systems and several toll installation projects that are in progress. Asia-Pacific is expected to witness significant growth during the forecast period of 2021 to 2028 because of the increase in demand for these systems in the developing economies, growth in urbanization, technological advancements including real-time tracking & monitoring of vehicles through GPS/GNSS and growth in population adoption of RFID sensors in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Electronic Toll Collection Market Share Analysis
The electronic toll collection market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to electronic toll collection market.
The major players covered in the electronic toll collection market report are Kapsch TrafficCom AG, TransCore, Raytheon Company, Conduent Inc., Thales Group, Cubic Corporation, Vinci SA, Siemens AG, EFKON, Neology Inc., TOSHIBA CORPORATION, MITSUBISHI HEAVY INDUSTRIES LTD, Abertis, Quarterhill Inc., Perceptics LLC, Star Systems International, Electronic Transaction Consultants Corporation, ARH Inc., SICE, Autostrade per l'Italia, JENOPTIK AG, Far Eastern Electronic Toll Collection Co Ltd., Toll Collect GmbH, GeoToll, Indra Sistemas, Kistler Group, American Traffic Solutions among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.