Electronic Toll Collection System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Offering (Hardware Equipment and Service), Technology (ANPR, GNSS, DSRC, and Others), and Application (Highways and Urban Zones)
Publication Month: Oct 2021 |
Report Code: TIPRE00002764
| No. of Pages: 176
| Category: Electronics and Semiconductor
| Status: Published
The electronic toll collection system market was valued at US$ 5,266.4 million in 2021 and is projected to reach US$ 10,604.7 million by 2028; it is expected to grow at a CAGR of 10.5% from 2021 to 2028.
The toll collection centers are strategically placed toll plazas or collection units that are levied to fulfill tax collection, congestion management, or maintenance fees for public infrastructure, among other revenue collection techniques. As a result, the volume of traffic flow plays a crucial role in determining the location of toll plazas and requires a robust and effective toll collection solution which will rise the adoption for the same. However, the past few years have witnessed a surge in congestion at toll plazas due to the increase in the number of vehicles passing through the tolls. As a result, the toll plazas end up attributing to more fuel consumption for cars and increased vehicular pollution due to the congestion. Also, the delays generally caused at the toll gateways elevate the risk of vehicle accidents and safety to compensate for the loss of time incurred at the congestion. Toll collection system projects constitute a public-private partnership model where government agencies or state bodies usually decide toll pricing. Also, the objective of toll collection has a profound influence over the vehicle classification and dynamic pricing for different categories of frequent travelers.
Report Coverage - Electronic Toll Collection System Market
Market Size Value in
US$ 5,266.4 Million in 2021
Market Size Value by
US$ 10,604.7 Million by 2028
CAGR of 10.5% from 2021 to 2028
No. of Pages
No. of Tables
No. of Charts & Figures
Historical data available
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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Impact of COVID-19 Pandemic on Electronic Toll Collection System Market
The COVID-19 outbreak has negatively affected the overall growth rate of the global electronic toll collection system market in 2020. This can be attributed to the decline in revenue of companies operating in the market, owing to supply and demand disruptions across the value chain. However, in 2021, with the relaxation of lockdown restrictions and the beginning of the vaccination process, the shipment of raw materials has started again. Many countries and toll collecting companies have adopted digital transformation to effectively run their business in these challenging times. Electronic toll collection system providers are also focusing on bringing new solutions, partnerships, and collaborations to overcome the COVID-19 outbreak. Therefore, this factor is helping in creating a positive scenario in the growth of the global electronic toll collection system market.
Lucrative Regions in Electronic Toll Collection System Market
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Market Insights – Electronic Toll Collection System Market
Increase in Demand for Interoperable Electronic Tolling Systems
The toll collection centers are strategically placed toll plazas or collection units that are levied to fulfill tax collection, congestion management, or maintenance fees for public infrastructure, among other revenue collection techniques. However, state and central government agencies' joint efforts for initiating a streamlined transit transaction process across toll gateways, plazas, parking systems, and traffic management have gained traction in the past few years. Also, the adoption of a complete interoperable toll collection system could have application across parking fees payment at airports, malls, bus stations, and intelligent transportation services, among other innovative services. Thus, there is an increase in demand for interoperable and robust electronic toll collection by the government and state agencies, which is projected to fuel the need for electronic toll collection systems.
Based on technology, the electronic toll collection system market is segmented into ANPR, GNSS, DSRC, and others. The DSRC segment held the largest market share in 2020.
Players operating in the electronic toll collection system market are mainly focused on the development of advanced and efficient products.
In July 2021, Neology, Inc. announced an expanded, multi-year agreement with the Norwegian Public Roads Administration (NPRA) for its traffic enforcement solutions driven by the latest in mobile ANPR camera and artificial intelligence (AI) technology to support real-time analytics and decision making. Neology's ANPR safer community solutions provide enhanced performance, creating immediate impact where other solutions fail. The dual-camera system, coupled with advanced AI-powered vehicle recognition technology, enables officers to detect and focus on non-compliant vehicles with enhanced vision system capabilities.
In May 2021, Slovenian Motorway Company DARS and SkyToll signed a contract to develop and operate an electronic vignette system. SkyToll won the tender with a bid of EUR 15.7 million to develop a system for the payment of electronic vignettes and provide five-year technological support to the system.
The electronic toll collection system market has been segmented as follows:
Electronic Toll Collection System Market – by Offering
Electronic Toll Collection System Market – by Technology
Electronic Toll Collection System Market – by Application
Electronic Toll Collection System Market – by Geography
Rest of Europe
Asia Pacific (APAC)
Rest of APAC
Middle East & Africa
Rest of MEA
Rest of SAM
Electronic Toll Collection System Market – Company Profiles
Continuum Electroproducts LLP
Kapsch Trafficcom AG
Mitsubishi Heavy Industries Machinery Systems, LTD.
Increase in demand for interoperable electronic tolling systems, long term economic and safety benefits, demand for effective traffic management at toll plaza in emerging economies, and investment in mobile and satellites-based GPS systems are some of the factors driving the electronic toll collection system market.
The state of road infrastructure plays a crucial role in the growth of the economy as it connects the important cities, towns, and metropolitan cities for freight transportation by road. Moreover, the continuous maintenance, expansion as well as improvement in expressways, highways, bridges, and tunnels ensure the continuous uninterrupted movement of goods that contribute towards their value-add to the GDP of a country. However, matching of road infrastructure growth along with the number of registered vehicles can be quite challenging for the administrators. As a result, the central or state government agency deploy various tolls, fees, the tax levied across strategic locations on roadways for financing new infrastructure, maintenance, controlling traffic, and management of congestion of vehicles to name a few objectives of toll gateways.
The global electronic toll collection system market was dominated by the DSRC segment with market share of more than 51% in 2020. Among developing economies especially in Asian countries the surge in traffic at toll collection centers is driving the adoption of these RFID based systems owing to their easy maintenance and low costs. Also, the systems can efficiently function despite bad weather, poor image detection or subjected to privacy concerns, unlike GNSS and ANPR based systems.
The major companies in electronic toll collection system includes Conduent, Inc.; Kapsch; Thales Group; Mitsubishi Heavy Industries Machinery Systems, Ltd.; and Neology. The listing of these five key players is derived by considering following key parameters: overall revenue, segmental revenue, brand image & industry expertise, current electronic toll collection system portfolio and related products, customer base, geographical reach, research and development investments, patents, technology integration, new product launches, partnerships, mergers & acquisitions and other market related activities.
The popularity of RFID (Radio Frequency Identification) based system seems evident from the current list of offering form the leading players. As a result, the DSRC (Dedicated Short-Range Communication) communication system has enjoyed a significant market share over the past few decades owing to easy maintenance, low cost of capital expenditure as well as operation. Automatic number plate recognition system and global navigational satellite system are other technologies used in electronic toll collection system market.
The List of Companies - Electronic Toll Collection Systems Market
Continuum Electroproducts LLP
Kapsch Trafficcom AG
Mitsubishi Heavy Industries Machinery Systems, LTD.
Qualix Information System
Save and reduce time carrying out entry-level research by identifying the market growth, size, leading players and segments in the global electronic toll collection systems market
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the electronic toll collection systems market, thereby allowing players across the value chain to develop effective long term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Examine the political, economic, social and technology impact of the five regions namely: North America, Europe, Asia Pacific, Middle East & Africa and South & Central America.