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North America Electronic Toll Collection System Market

2021

North America Electronic Toll Collection System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Offering (Hardware Equipment and Service), Technology (ANPR, GNSS, DSRC, and Others), and Application (Highways and Urban Zones)

Publication Month: Nov 2021 | Report Code: TIPRE00025769 | No. of Pages: 119 | Category: Electronics and Semiconductor | Status: Published

Market Insights

North America Electronic Toll Collection System Market to Grow at a CAGR of 10.0% to reach US$ 2,683.00 million Million from 2021 to 2028

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The electronic toll collection system market in North America is expected to grow from US$ 1,373.20 million in 2021 to US$ 2,683.00 million by 2028; it is estimated to grow at a CAGR of 10.0% from 2021 to 2028.

The US, Canada, and Mexico are major economies in North America. Economic and safety benefits in long terms is the major factor driving the growth of the North America electronic toll collection system market. The toll collection centers are strategically placed toll plazas or collection units that levied for fulfilling the purpose of 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 subsequently requires a robust and effective toll collection solution 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 as well as increase vehicular pollution due to the congestion. Also, the delays generally caused at the toll gateways also elevates the risk of vehicle accidents and safety to compensate for the loss of time incurred at the congestion. As a result, an electronic toll collection offers a competent alternative solution to the current manual toll for minimizing the congestion at toll gateways and providing seamless transit transaction without the need of supervision. The electronic toll collection systems operate an account-based system that automatically identifies, classifies, and subsequently charges the vehicle owner as per the agency regulations without the need to stop at the toll plazas. Thus, the long-term benefits associated with adoption ETC systems is expected to drive the market penetration of these systems across various economies and provide profitable business opportunities for the market players in the forecast period.

North America is among the worst-hit regions by the COVID-19 pandemic. The US, Canada, and Mexico have witnessed a significant rise in the number of COVID-19 infected patients. COVID-19 outbreak has negatively impacted manufacturing and construction businesses in the region in four critical areas – supply chain/operations, workforce, 2020 investments, and product offering. Moreover, the transportation sector was affected due to the non-movement of vehicles. Supply chains of many industries were disrupted due to restrictions in logistics and the closing of manufacturing facilities. The outbreak of COVID-19 resulted in flight cancellations, lockdowns and movement restrictions, and travel bans. As a result of all these travel bans and restrictions, there have been extraordinary changes in traffic volumes, transits, and toll collection revenues. Due to less toll collection, the upgrade of older toll systems to advanced tolling systems was halted, impacting the growth of North America's electronic toll collection market. However, manufacturing facilities, hospitals, airports, and warehouses have resumed their work post-pandemic, resulting in increased travel and traffic.Moreover, the US and Canadian governments and companies use advanced electronic toll collection systems to keep an eye on the vehicles passing by tolls. For the tolling industry, the top priority during this pandemic is protecting the health and safety of the toll collectors and customers, and for that, companies are introducing new solutions to collect toll cashless. For instance, in July 2020, VeriToll—a California-based company—introduced a new app that will use the GPS of drivers' smartphones to stop erroneous road tolls. However, in 2021, with the release of lockdown restrictions and the beginning vaccination processes, the road and highway construction and developments have started again, helping create a favorable scenario for the electronic toll collection market growth.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America electronic toll collection system market. The North America electronic toll collection system market is expected to grow at a good CAGR during the forecast period.
North America electronic toll collection system market

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North America Electronic Toll Collection System Market Segmentation

North America Electronic Toll Collection System Market – By Offering

  • Hardware Equipment
  • Service

North America Electronic Toll Collection System Market – By Technology

  • ANPR
  • GNSS
  • DSRC
  • Others

North America Electronic Toll Collection System Market – By Application

  • Highways
  • Urban Area

North America Electronic Toll Collection System Market, by Country

  • US
  • Canada
  • Mexico

North America Electronic Toll Collection System Market - Companies Mentioned

  • Conduent, Inc.
  • Efkon GmbH
  • Kapsch Trafficcom AG
  • Neology
  • Siemens AG
  • Thales Group

TABLE OF CONTENTS

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. North America Electronic Toll Collection System Market Landscape

4.1 Market Overview

4.2 North America PEST Analysis

4.3 Ecosystem Analysis

4.4 Expert Opinion

5. North America Electronic Toll Collection System Market – Key Market Dynamics

5.1 Key Market Drivers

5.1.1 Economic and safety benefits in long term

5.1.2 Rising demand for interoperable electronic tolling systems

5.2 Key Market Restraints

5.2.1 Chances of leakage and huge CapEx & OpEx costs

5.2.2 Insufficient standardization levels and evaluation metrics for ETC systems

5.3 Key Market Opportunities

5.3.1 Significant rise in demand for effective traffic management at toll plaza

5.4 Future Trends

5.4.1 Mobile and satellites-based GPS systems witnessing investment rise

5.5 Impact Analysis of Drivers and Restraints

6. Electronic Toll Collection System Market – North America Analysis

6.1 North America Electronic Toll Collection System Market Overview

6.2 North America Electronic Toll Collection System Market – Revenue and Forecast to 2028 (US$ Million)

7. North America Electronic Toll Collection System Market Analysis – By Offering

7.1 Overview

7.2 North America Electronic Toll Collection System Market, By Offering (2020 and 2028)

7.3 Hardware Equipment

7.3.1 Overview

7.3.2 Hardware Equipment: Electronic Toll Collection System Market – Revenue and Forecast to 2028 (US$ Million)

7.4 Service

7.4.1 Overview

7.4.2 Service: Electronic Toll Collection System Market – Revenue and Forecast to 2028 (US$ Million)

8. North America Electronic Toll Collection System Market – By Technology

8.1 Overview

8.2 North America Electronic Toll Collection System Market, by Technology (2020 and 2028)

8.3 ANPR

8.3.1 Overview

8.3.2 ANPR: Electronic Toll Collection System Market – Revenue and Forecast to 2028 (US$ Million)

8.4 GNSS

8.4.1 Overview

8.4.2 GNSS: Electronic Toll Collection System Market – Revenue and Forecast to 2028 (US$ Million)

8.5 DSRC

8.5.1 Overview

8.5.2 DSRC: Electronic Toll Collection System Market – Revenue and Forecast to 2028 (US$ Million)

8.6 Others

8.6.1 Overview

8.6.2 Others: Electronic Toll Collection System Market – Revenue and Forecast to 2028 (US$ Million)

9. North America Electronic Toll Collection System Market – By Application

9.1 Overview

9.2 North America Electronic Toll Collection System Market, by Application (2020 and 2028)

9.3 Highways

9.3.1 Overview

9.3.2 Highways: Electronic Toll Collection System Market – Revenue and Forecast to 2028 (US$ Million)

9.4 Urban Zones

9.4.1 Overview

9.4.2 Urban Zones: Electronic Toll Collection System Market – Revenue and Forecast to 2028 (US$ Million)

10. North America Electronic Toll Collection System Market – Country Analysis

10.1 Overview

10.1.1 North America: Electronic Toll Collection System Market- by Key Country

10.1.1.1 US: Electronic Toll Collection System Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.1.1 US: Electronic Toll Collection System Market- by Offering

10.1.1.1.2 US: Electronic Toll Collection System Market- By Technology

10.1.1.1.3 US: Electronic Toll Collection System Market- By Application

10.1.1.2 Canada: Electronic Toll Collection System Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.2.1 Canada: Electronic Toll Collection System Market- by Offering

10.1.1.2.2 Canada: Electronic Toll Collection System Market- By Technology

10.1.1.2.3 Canada: Electronic Toll Collection System Market- By Application

10.1.1.3 Mexico: Electronic Toll Collection System Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.3.1 Mexico: Electronic Toll Collection System Market- by Offering

10.1.1.3.2 Mexico: Electronic Toll Collection System Market- By Technology

10.1.1.3.3 Mexico: Electronic Toll Collection System Market- By Application

11. North America Electronic Toll Collection System Market- COVID-19 Impact Analysis

11.1 North America

12. Industry Landscape

12.1 Overview

12.2 Market Initiative

12.3 Merger and acquisition

12.4 New Product Development

13. Company Profiles

13.1 Conduent, Inc.

13.1.1 Key Facts

13.1.2 Business Description

13.1.3 Products and Services

13.1.4 Financial Overview

13.1.5 SWOT Analysis

13.1.6 Key Developments

13.2 EFKON GmbH

13.2.1 Key Facts

13.2.2 Business Description

13.2.3 Products and Services

13.2.4 Financial Overview

13.2.5 SWOT Analysis

13.2.6 Key Developments

13.3 Kapsch TrafficCom AG

13.3.1 Key Facts

13.3.2 Business Description

13.3.3 Products and Services

13.3.4 Financial Overview

13.3.5 SWOT Analysis

13.3.6 Key Developments

13.4 Siemens Mobility

13.4.1 Key Facts

13.4.2 Business Description

13.4.3 Products and Services

13.4.4 Financial Overview

13.4.5 SWOT Analysis

13.4.6 Key Developments

13.5 Thales Group

13.5.1 Key Facts

13.5.2 Business Description

13.5.3 Products and Services

13.5.4 Financial Overview

13.5.5 SWOT Analysis

13.5.6 Key Developments

13.6 Neology Inc.

13.6.1 Key Facts

13.6.2 Business Description

13.6.3 Products and Services

13.6.4 Financial Overview

13.6.5 SWOT Analysis

13.6.6 Key Developments

14. Appendix

14.1 About The Insight Partners

14.2 Word Index

LIST OF TABLES

Table 1. North America Electronic Toll Collection System Market – Revenue, and Forecast to 2028 (US$ Million)

Table 2. US: Electronic Toll Collection System Market- by Offering –Revenue and Forecast to 2028 (US$ Million)

Table 3. US: Electronic Toll Collection System Market- By Technology –Revenue and Forecast to 2028 (US$ Million)

Table 4. US: Electronic Toll Collection System Market- By Application –Revenue and Forecast to 2028 (US$ Million)

Table 5. Canada: Electronic Toll Collection System Market- by Offering –Revenue and Forecast to 2028 (US$ Million)

Table 6. Canada: Electronic Toll Collection System Market- By Technology –Revenue and Forecast to 2028 (US$ Million)

Table 7. Canada: Electronic Toll Collection System Market- By Application –Revenue and Forecast to 2028 (US$ Million)

Table 8. Mexico: Electronic Toll Collection System Market- by Offering –Revenue and Forecast to 2028 (US$ Million)

Table 9. Mexico: Electronic Toll Collection System Market- By Technology –Revenue and Forecast to 2028 (US$ Million)

Table 10. Mexico: Electronic Toll Collection System Market- By Application –Revenue and Forecast to 2028 (US$ Million)

Table 11. List of Abbreviation

LIST OF FIGURES

Figure 1. North America Electronic Toll Collection System Market Segmentation

Figure 2. North America Electronic Toll Collection System Market Segmentation – By Country

Figure 3. North America Electronic Toll Collection System Market Overview

Figure 4. Service Segment Held the Largest Market Share in 2020

Figure 5. DSRC Held the Largest Market Share in 2020

Figure 6. Highways Held the Largest Market Share in 2020

Figure 7. US was the Largest Revenue Contributor in 2020

Figure 8. North America – PEST Analysis

Figure 9. North America Electronic Toll Collection System Market– Ecosystem Analysis

Figure 10. Expert Opinion

Figure 11. North America Electronic Toll Collection System Market: Impact Analysis of Drivers and Restraints

Figure 12. North America Electronic Toll Collection System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 13. North America Electronic Toll Collection System Market Revenue Share, by Offering (2020 and 2028)

Figure 14. North America Hardware Equipment: Electronic Toll Collection System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 15. North America Service Electronic Toll Collection System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 16. North America Electronic Toll Collection System Market Revenue Share, by Technology (2020 and 2028)

Figure 17. North America ANPR: Electronic Toll Collection System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 18. North America GNSS: Electronic Toll Collection System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 19. North America DSRC: Electronic Toll Collection System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 20. North America Others: Electronic Toll Collection System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 21. North America Electronic Toll Collection System Market Revenue Share, by Application (2020 and 2028)

Figure 22. North America Highways: Electronic Toll Collection System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 23. North America Urban Zones: Electronic Toll Collection System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 24. North America: Electronic Toll Collection System Market, by Key Country – Revenue (2020) (US$ Million)

Figure 25. North America: Electronic Toll Collection System Market Revenue Share, by Key Country (2020 and 2028)

Figure 26. US: Electronic Toll Collection System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 27. Canada: Electronic Toll Collection System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 28. Mexico: Electronic Toll Collection System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 29. Impact of COVID-19 Pandemic in North American Country Markets

  1. Conduent, Inc.
  2. Efkon GmbH
  3. Kapsch Trafficcom AG
  4. Neology
  5. Siemens AG
  6. Thales Group
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America electronic toll collection system 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 North America electronic toll collection system 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 North America market trends and outlook coupled with the factors driving the electronic toll collection system 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
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