U.S. Electronic Toll Collection Market – Industry Trends and Forecast to 2031

U.S. Electronic Toll Collection Market, By Offering (Hardware, Software, Service), Solution (Automated Vehicle Identification (AVI), Automated Vehicle Classification (AVC), Transaction Management, Violation Enforcement System, Others), Technology (Dedicated Short Range Communication (DSRC), GNSS/GPS, Infrared, Radio-Frequency Identification (RFID), Video Analytics), Toll Type (Distance-Based, Point-Based, Time-Based, Perimeter-Based), End Use (Highway, Urban Mobility and Transportation) - Industry Trends and Forecast to 2031.

U.S. Electronic Toll Collection Market Analysis and Size

U.S. electronic toll collection market uses vehicle-to-toll plaza communication technologies that allow electronic payment of toll. The system enables monetary transaction between a vehicle passing through a toll plaza and the toll collection agency. U.S. electronic toll collection market is replacing the manual toll collection and making the passage of vehicles much faster thus reducing traffic congestion and enabling smooth flow of traffic. U.S. electronic toll collection market can work on several principals such as incorporating GPS systems or by attaching tag to the car. The GPS system tracks the distance travelled by the vehicles and deducts the amount as per the distance. The tag based system incorporates placing of tags on the vehicle through which the toll amount can be deducted at the toll plaza where receivers or antennas are placed. All these systems reduce the transit time and make the transaction cashless.

Data Bridge Market Research analyses that the U.S. electronic toll collection market  which was USD 10.20 billion in 2023, is expected to reach USD 17.40 billion by 2031, and is expected to undergo a CAGR of 6.9% during the forecast period. “Software” dominates the offering segment of the U.S. electronic toll collection market  due to Electronic Toll Collection (ETC) systems are complex, involving hardware components such as toll booths, transponders, cameras, and sensors. Software is essential for integrating and coordinating these components into a seamless system that can efficiently and accurately collect tolls. The software enables real-time communication between these components, ensuring smooth operation. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

Market Definition

ETC refers to the industry and associated technologies and services that facilitate the collection of tolls on highways, bridges, tunnels, and other roadways through electronic means. In this market, tolls are collected without the need for traditional manual tollbooths where vehicles stop and pay in cash. Instead, electronic systems are employed to streamline the toll collection process, making it more efficient and convenient for both toll operators and motorists.

U.S. Electronic Toll Collection Market  Dynamics

Drivers

• Expansion of ETC to new markets

ETC is currently only used on a limited number of toll roads and bridges in the U.S.. However, there is significant potential to expand ETC to new markets, such as urban road networks and public transportation systems.

• Growing adoption of new technologies

New technologies, such as dedicated short-range communication (DSRC) and global positioning systems (GPS), are being developed that could improve the efficiency and accuracy of ETC systems. The adoption of these new technologies is expected to drive growth in the ETC market.

• Integration with other Intelligent Transportation Systems (ITS) applications

ETC systems can be integrated with other ITS applications, such as traffic management systems and congestion pricing systems. This integration can help to improve the overall efficiency of the transportation network and reduce congestion.

Opportunity

• Rising development of congestion pricing systems

Congestion pricing is a system in which motorists are charged a fee to use congested roads during peak travel times. ETC systems could be used to implement congestion pricing systems in a more efficient and effective way.

Restraint

• High cost of implementation and maintenance of ETC sytem

ETC systems can be expensive to implement and maintain. This is a major barrier to entry for new players and can also discourage existing players from expanding their operations.

Challenge

• Low adoption of satellite-based GPS technologies

Satellite-based GPS technologies are not yet widely adopted in the U.S. electronic toll collection market. This is because these technologies can be expensive and inaccurate in certain areas.

This U.S. electronic toll collection market  report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the 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 the variable frequency drive market contact the Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.

Recent Development

• In March 2023, Cubic Corporation announced the launch of its new Electronic Toll Collection (ETC) system. The new system is designed to help transportation agencies collect tolls more efficiently, accurately, and securely
• In November 2021, SiVA chosed Thales as its partner to modernize the toll collection system in Guatemala. This collaboration will leverage Thales's renowned PITZ technology. The initiative aims to bring significant advancements and improvements to the toll collection process in Guatemala, ultimately enhancing efficiency and user experience in the electronic toll collection sector

U.S. Electronic Toll Collection Market  Scope

The U.S. electronic toll collection market  is segmented on the basis of offering, solution, technology, toll type, and end use. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Offering

• Software
• Hardware
• Service

Solution

• Automated Vehicle Identification (AVI)
• Automated Vehicle Classification (AVC)
• Transaction Management
• Violation Enforcement System
• Others

Technology

• Dedicated Short Range Communication (DSRC)
• GNSS/GPS
• Infrared
• Radio-Frequency Identification (RFID)
• Video Analytics

Toll Type

• Distance-Based
• Point-Based
• Time-Based
• Perimeter-Based

End Use

• Highway and Urban Mobility and Transportation

Competitive Landscape and U.S. Electronic Toll Collection Market  Share Analysis

The U.S. electronic toll collection market  competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the U.S. electronic toll collection market.

Some of the major players operating in the U.S. electronic toll collection market  are:

• Cubic Corporation (U.S.)
• The Revenue Markets Inc. (U.S.)
• GeoToll (U.S.)
• Raytheon Company (a subsidiary of Raytheon Technologies Corporation) (U.S.)
• Thales Group (France)
• Siemens (Germany)
• MITSUBISHI HEAVY INDUSTRIES MACHINERY SYSTEMS, LTD. (a subsidiary of MITSUBISHI HEAVY INDUSTRIES, LTD.) (Japan)
• Toshiba Infrastructure Systems & Solutions Corporation (Japan)
• International Road Dynamics Inc. (a subsidiary of Quarterhill Inc.) (Canada)
• Perceptics, LLC (U.S.)