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), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026
Market Analysis: Global Electronic Toll Collection Market
Global Electronic Toll Collection Market is expected to rise from its initial estimated value of USD 7.14 billion in 2018 to an estimated value of USD 13.69 billion by 2026, registering a CAGR of 8.48% in the forecast period of 2019-2026. This rise in market value can be attributed to the increased adoption of cashless systems across the world, and reduced congestion of traffic because of it.
Market Definition: Global Electronic Toll Collection Market
Electronic toll collection can be defined as the cashless toll collection technology which aims to solve the problem of traffic congestion on various toll collecting sites due to the time-consuming process of cash or plastic money collection. These tolls do not require the vehicles to stop at the toll booths, as they scan the transponders available in the vehicles for the collection of tolls. They operate alongside the cash tolls so that the vehicles without any transponders can cross the booth as well.
- Reduction of traffic congestion and environmental pollution due to availing electronic toll collection is expected to drive the market growth
- Adoption of cashless facilities due to the development and government initiatives to build smart cities is also expected to drive the market growth
- High operation costs of these tolls is expected to act as a restraint to the market growth
- Lack of growth of the infrastructure required in the developing economies and regions is expected to restrain the market growth
Segmentation: Global Electronic Toll Collection Market
- By Type
- By Technology
- Radio-Frequency Identification (RFID)
- Dedicated Short-Range Communication (DSRC)
- Video Analytics/Automatic Number Plate Recognition (ANPR)/Automatic License Plate Recognition (ALPR)
- Satellite-Based GNSS/GPS (Global Navigation Satellite System/Global Positioning System)
- By Offering
- Back Office & Other Services
- By Application
- Urban Areas
- By Parameters of Toll Amount
- Distance Based
- Point Based
- Time Based
- Perimeter Based
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Key Developments in the Market:
- In April 2018, TransCore announced the introduction regarding the publication of specific protocols and standards known as “Super eGo (SeGo)” for the simplification and increased ease in adoption of transponders and multi-protocol readers.
- In April 2016, Kapsch TrafficCom AG announced that they had completed the acquisition of Schneider Electric’s Transportation Business. This acquisition is expected to expand Kapsch’s smart transportation system and service portfolios for the various regions.
Competitive Analysis: Global Electronic Toll Collection Market
Global electronic toll collection market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of electronic toll collection market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors/Players: Global Electronic Toll Collection Market
Few of the major market competitors currently working in the electronic toll collection market 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, and American Traffic Solutions.
Research Methodology: Global Electronic Toll Collection Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved