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Electronic Toll Collection Market Share

ID: MRFR//3536-CR | 128 Pages | Author: Ankit Gupta| October 2018

The profound impact of digital transformation, driven by technological advancements like the Internet of Things (IoT), is evident across various industry sectors. These transformations are particularly pronounced in major verticals, leveraging the data gathered by sensors and the subsequent insights derived from analysis. The influence extends to road infrastructure, encompassing smart streets, highway lighting, and vehicle-to-vehicle communication in smart cities. Governments worldwide are channeling investments into creating connected roads, a significant aspect of which includes the implementation of electronic tolling systems.

In India, a considerable achievement has been made in this direction, with the construction of nearly 122,432 km of national highways, featuring toll facilities equipped with electronic tolling systems. These highways strategically connect major cities, catering to high-density incoming and outgoing traffic. The implementation of the "Fastag" system, utilizing Radio Frequency Identification (RFID) technology, has become a hallmark of these electronic tolling initiatives. The Government of India has collaborated with various public sector banks and leading private banks to facilitate wallets or accounts linked with e-tolling. Beyond national highways, electronic toll collection systems have been successfully deployed on numerous state and urban highways.

China, on the other hand, has introduced the ambitious "Belt and Road Initiative," interconnecting the Silk Road Economic Belt and the 21st-century maritime silk route. This initiative is designed to expedite economic growth and enhance resource allocation efficiency by establishing routes across Asia, Europe, and Africa. The substantial infrastructure development associated with this initiative has led to a surge in the deployment of Electronic Toll Collection (ETC) systems.

In addition to these notable initiatives, governments worldwide are actively pursuing various measures to streamline toll collection through electronic tolling systems. These efforts underscore the global commitment to leveraging technology for enhanced efficiency and convenience in transportation and toll management. The proliferation of ETC systems is poised to play a pivotal role in shaping the future of toll collection mechanisms.

Covered Aspects:

Report Attribute/Metric Details
Base Year For Estimation 2021
Historical Data 2018-2020
Forecast Period 2022-2030
Growth Rate 7.1% (2022-2030)
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