Electronic Toll Collection Market is expected to reach USD 16.8 billion by 2030
Research Reports
Jun 21, 2023
Electronic Toll Collection Market Insights
According to MRFR analysis, the Global Electronic Toll Collection Market is expected to register a CAGR of 7.1% from 2022 to 2030 and hold a value of over USD 16.8 billion by 2030.
The Global Electronic Toll Collection (ETC) Market refers to the worldwide market for systems and technologies used for automated toll collection on roads, bridges, tunnels, and other transportation infrastructure. These systems allow vehicles to pass through toll points without stopping, reducing traffic congestion, improving travel times, and enhancing overall transportation efficiency.
The market for electronic toll collection has experienced significant growth globally due to several factors, including the increasing need for efficient traffic management, the growing emphasis on reducing congestion and carbon emissions, and the shift toward smart transportation infrastructure.
During the early stages of the pandemic, many countries implemented lockdowns and travel restrictions, resulting in a significant reduction in traffic volume and toll revenue. With fewer vehicles on the roads, the demand for toll collection systems decreased temporarily, affecting the market growth.
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Electronic Toll Collection Market Key Players
Some of the key market players are:
- Atlantia S.p.A
- Conduent Inc.
- Cubic Corporation
- Denso Corporation
- EFKON GMBH
- GeoToll
- International Road Dynamics Inc.
- Kapsch TrafficCom AG
- Neology Inc.
- Perceptics LLC
- Q-Free ASA
- Raytheon Company
- Siemens AG
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Electronic Toll Collection Market Regional Analysis
The largest region in the Global Electronic Toll Collection (ETC) Market is Asia-Pacific. The region dominates the market in terms of both revenue generation and adoption of electronic toll collection systems.
Asia-Pacific is home to some of the most populous countries in the world, including China and India. The region’s rapidly growing urban population and urbanization trends have resulted in increased road traffic and congestion. To address these challenges, governments and transportation authorities in the region have been actively implementing ETC systems to improve traffic flow and toll collection efficiency.
Electronic Toll Collection Market Segmentation
The Global Electronic Toll Collection Market has been segmented into technology and application.
Based on the technology, the market has been segmented into Automatic Vehicle Identification, Automated Vehicle Classification, Violation Enforcement System and Toll Transaction Processing System.
Based on the application, the market has been segmented into roads, bridges, tunnel and ferries.
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