Electronic Toll Collection Market research report, by type (ETC, AET, transponders, ANPR), product (AVI, AVC), application (highways, urban), technology (RFID, DSRC, GPS/GNSS), by means of toll collection (Prepaid, postpaid) – Forecast till 2027
ID: MRFR/SEM/3536-CR | October 2018 | Region: Global | 100 pages
Market Snapshot
Market Research Future reports that the global electronic toll collection Market surpassed a valuation of USD 7,400 Mn in 2017. Factors such as the continuous rise in vehicle parc and introduction of advanced traffic control systems are having a positive impact on the global electronic toll collection market. Mega-scale road infrastructure projects are a major part of the public infrastructure development activities both in advanced and developing countries. The completion of highways and other road development projects leads to requirement of maintenance systems such as toll booths. Electronic toll collection is witnessing a fast adoption owing to its high efficiency. Traditional toll collection systems are unable to support modern highways, which is prompting authorities to adopt more efficient technologies. ETC helps in reducing unnecessary delays on toll roads. It is also being deployed in toll-tunnels and intercity toll bridges for faster toll collection.
Report Synopsis
This MRFR perspective presents an analysis on the growth trends of global electronic toll collection market. The critical observations that are made are based on historical trends and current ETC system deployment rate. The research document also includes a market forecast until 2023. As a part of market assessment, major types of electronic toll collections have been discussed. Also, ETC products such as Automatic Vehicle Identification (AVI) and Automated Vehicle Classification (AVC) are mentioned in the document. Further, various ETC technologies including radio frequency identification (RFID), dedicated short range communications (DSRC) and global positioning system (GPS) are discussed. In the document, prepaid and postpaid are denoted as primary means of toll collection. Analysis based on major application areas for ETC covers highways, and urban.
Companies Profiled
Q-Free ASA, Cubic Corporation, Xerox Corporation, Thales SA, Kapsch TrafficCom AG, Conduent Inc., Siemens AG, Quarterhill Inc., The Revenue Markets Inc., Grenobloise dElectronique et dAutomatismes (GEA) SA., Raytheon Co.
The Electronic toll collection market report offers insights on the leading market players and evaluates their current market share. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives.
Research Methodology
MRFR carries out a robust research methodology for market analysis which ensures that the end product delivered has the highest level of returns on investment. Research algorithms such as top-down and bottom-up cover all areas of a market that can affect long-term growth and expansion of the market. The reports also make accessible strategy roadmaps that offer a distinct picture of the existing trends as well as the trends that can have an effect on the impending growth of the market in future. The utilization of primary and secondary research methods in our reports uncovers wide-ranging information related to new revenue pockets and evolving markets around the world.
Other Description
- Market Denomination- USD Mn
- Base Year- 2017
- Forecast Period- from 2018 to 2023
For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the Global electronic toll collection market
By Type
- Electronic Toll Collection (ETC)
- All Electronic Tolling (AET)
- Automatic Number Plate Recognition (ANPR)
- Others
By Product
- Automatic Vehicle Identification (AVI)
- Automated Vehicle Classification (AVC)
By Technology
- Radio Frequency Identification (RFID)
- Dedicated Short Range Communications (DSRC)
- Global Positioning System (GPS)
- Others
By Means of Collection
- Prepaid
- Postpaid
By Application
- Highways
- Urban
- Others
By Region
- North America
- Europe
- Asia Pacific
- The Middle East & Africa (MEA)
- Latin America
Intended Audience
- Technology Providers
- Research organizations
- Technology investors
- Venture capitalists
- Government organizations
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | USD 8 Billion |
| CAGR | 10.43% |
| Base Year | 2019 |
| Forecast Period | 2020-2027 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | type, product, application, technology, means of toll collection |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Q-Free ASA, Cubic Corporation, Xerox Corporation, Thales SA, Kapsch TrafficCom AG, Conduent Inc., Siemens AG, Quarterhill Inc., The Revenue Markets Inc., Grenobloise dElectronique et dAutomatismes (GEA) SA., Raytheon Co |
| Key Market Opportunities |
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| Key Market Drivers |
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Frequently Asked Questions (FAQ) :
Countries such as China and India are investing massive amounts in the market which is supposed to support the growth curve in the region.
The Automatic Vehicle Identification (AVI) segment scaled a valuation of USD 4,467.3 Mn in 2017. It has gained much popularity and is poised to maintain its leading position in the market.
The highways segment is prognosticated to dominate the market at 12% CAGR due to exponentially rising highway traffic.
Key players are resorting to strategies such as technological developments, mergers & acquisitions, product launches, etc.
North America, due to early adoption of the latest technologies, is expected to dominate the global market.
Global Electronic Toll Collection Market: Competitive Landscape
The global electronic toll collection market consists of various global, regional, and local service providers that are continuously evolving to enhance their market position. Intense competition and rapid advances in technology to cope with the existing toll facilities is the key factor that aid the market growth. The service providers compete based on cost, efficiency, and reliability of the electronic toll systems to sustain in the market. It is important for the service providers to provide a cost-efficient and advanced electronic toll facility, to maintain their market position and gain a competitive advantage.
Vendors in the electronic toll collection market are focusing towards improving their services and expanding geographically into the under-developed and developing economies. Kapsch TrafficCom AG, Grenobloise dElectronique et dAutomatismes (GEA) SA, Conduent Inc, Raytheon Co, and Q-Free ASA are the major companies in the market, competing in terms of providing solutions, efficiency reliability, price, and advanced technology. Their primary focus is on the development of already existing toll facilities with advanced wireless communication technology for faster and secure payment transaction at toll facility. Although international players are dominating the market, some other small regional and foreign players with small market shares also have a prominent presence in this market. The major players may strengthen their presence worldwide through the mergers and acquisition of local and regional players for expanding their solutions in those regions during the forecast period. The improvement of the global economic scenario combined with technological advancement in the emerging economies like India, South Africa, China, Brazil, Argentina, and other under-developed countries, is likely to fuel the market growth, thereby making it an ideal time to expand electronic toll collection market geographically and increase the global market share.
Kapsch TrafficCom AG is one of the leading players in the electronic toll collection market. The company has been operating for more than 20 years with a strong industrial expertise. Kapsch TrafficCom AG engages in the provision of intelligent transportation systems through its electronic toll collection (ETC) and intelligent mobility solutions (IMS) segments. It provides electronic toll solutions like satellite tolling, multi-lane free flow tolling, and mobile tolling having its presence majorly across the Europe, and the Middle East and Africa.
Grenobloise dElectronique et dAutomatismes (GEA) SA is another major vendor providing ETC solutions at toll facility. It also designs, develops, manufactures, integrates, installs and maintains a full range of equipment including central computer systems, plaza computer systems, manual or automatic entry and exit lanes that accept all forms of payment. The company provides solutions like automatic ticket issuing machine, and automatic payments machines.
Conduent Inc. engages in the provision of business process services in transaction-intensive processing, analytics, and automation. The company got separated from Xerox in 2017 and now operates as an individual entity. The company provides various solutions such as electronic toll collection back office solution, electronic toll collection roadside solution, vehicle passenger detection system, and automated license plate recognition system
Intended Audience
- Technology Providers
- Research organizations
- ETC Vendors
- Highway Road Authorities
- Construction Service providers
- Semiconductor Equipment Manufacturers
- Technology investors
- Venture capitalists
- Government organizations