Dublin, Jan. 10, 2025 (GLOBE NEWSWIRE) — The “Electronic Toll Collection Market Report and Forecast 2024-2032” report has been added to ResearchAndMarkets.com’s offering. The market is analyzed by technology, application, and region.
According to this report, the global electronic toll collection market size is projected to grow at a CAGR of 8.1% between 2024 and 2032. Aided by the increasing adoption of smart transportation systems, the market is expected to attain a significant value by 2032.
One of the key factors propelling the electronic toll collection market growth is the increasing focus on smart transportation infrastructure development. With the rapid growth of urban populations and the corresponding rise in vehicle numbers, managing traffic congestion has become a major challenge for cities around the world. Governments are investing heavily in smart transportation systems, including ETC solutions, to improve urban mobility, reduce congestion, and ensure more sustainable and efficient transportation networks.
Additionally, the rising demand for efficient toll management solutions is driving the adoption of ETC systems. This is one of the key electronic toll collection market trends. Manual toll collection methods are often associated with significant delays, traffic congestion, and high operational costs. By automating the toll collection process, ETC systems enable smoother traffic flow and more accurate revenue collection, making them an attractive option for toll operators.
The implementation of ETC systems is also being driven by the growing awareness of environmental sustainability. Traditional toll plazas often contribute to higher fuel consumption and increased vehicle emissions due to idling vehicles. By reducing stop-and-go traffic, electronic toll collection systems help decrease fuel consumption and lower greenhouse gas emissions, supporting global efforts to mitigate climate change. This is leading to an increase in the electronic toll collection market revenue.
The emergence of multi-lane free-flow (MLFF) tolling systems is revolutionising the market. MLFF systems allow vehicles to pass through tolling points at highway speeds without stopping or slowing down, significantly reducing traffic congestion and improving road safety. The adoption of MLFF systems is expected to increase as governments and toll operators seek to modernise their toll collection infrastructure.
North America holds a prominent electronic toll collection market share, driven by the widespread adoption of tolling technologies in the United States and Canada. The region’s strong focus on smart transportation infrastructure and its early adoption of ETC solutions have contributed to its market leadership.
As per the electronic toll collection market analysis, rapid urbanisation, increasing vehicle ownership, and government initiatives to modernise transportation infrastructure are fuelling the market growth in the Asia Pacific region. Countries such as China, India, and Japan are investing in ETC systems to address traffic congestion, enhance road safety, and improve toll collection efficiency.
While the demand is expected to grow in the coming years, the market also faces several challenges. One of the key obstacles is the high initial cost of implementing electronic toll collection systems, which can be a deterrent for some governments and toll operators, particularly in developing regions. Additionally, concerns about data privacy and the potential for system malfunctions or inaccuracies may hinder the widespread adoption of ETC technologies.
Despite these challenges, the electronic toll collection market development is expected to continue in the upcoming years. The increasing integration of ETC systems with smart city platforms and vehicle-to-infrastructure (V2I) communication technologies is expected to open new avenues for innovation and expansion. Moreover, the growing demand for seamless, interoperable tolling solutions across regions and countries is likely to spur the development of new standards and frameworks for cross-border toll collection.
The electronic toll collection market value is set to increase in the coming years, driven by the increasing need for efficient tolling solutions, the rise of smart transportation infrastructure, and ongoing technological advancements. As governments and transportation authorities continue to prioritise traffic management and environmental sustainability, the demand for ETC systems is expected to rise, creating significant opportunities for market players.
Market Segmentation
Market Breakup by Technology
- RFID
- DSRC
- GPS
- GNSS
- Video Analytics
Market Breakup by Application
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global electronic toll collection market. Some of the major players explored in the report are as follows:
- Kapsch TraffiCom AG
- Transcore Holdings, Inc.
- Thales Group
- Honeywell International, Inc.
- EFKON GmbH
Key Attributes
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2024-2032 |
| Estimated Market Value (USD) in 2024 | $9.38 Billion |
| Forecasted Market Value (USD) by 2032 | $17.5 Billion |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/9ok33d
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- Electronic Toll Collection Market
