Dublin, Sept. 29, 2023 (GLOBE NEWSWIRE) -- The "Electronic Toll Collection (ETC) Systems - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Electronic Toll Collection (ETC) Systems Market to Reach $17.7 Billion by 2030
The global market for Electronic Toll Collection (ETC) Systems, valued at US$9.2 Billion in 2022, is expected to reach US$17.7 Billion by 2030, reflecting an impressive CAGR of 8.5% during the period from 2022 to 2030.
The DSRC market is also on an upward trajectory, contributing to overall industry expansion. These technologies find significant application in highways and urban areas, driving market growth. Electronic Toll Collection (ETC) systems, in particular, have seen increased adoption, ensuring a positive outlook for the market's future.
In addition, RFID technology is projected to exhibit a robust 8.8% CAGR, reaching US$12.1 Billion by the end of the analysis period, while DSRC is expected to grow at an estimated 8% CAGR over the next 8 years. The RFID market has consistently grown, with projections indicating continued expansion from 2022 to 2030.
Key regions, including the USA, Canada, Japan, China, Europe, Asia-Pacific, and the Rest of the World, have contributed to this growth. The U.S. Electronic Toll Collection (ETC) Systems market stands at US$3.2 Billion in 2022, and China, the second-largest global economy, is expected to reach US$2.7 Billion by 2030, with a notable CAGR of 9.9% during 2022-2030.
Japan and Canada also present noteworthy growth, with respective CAGRs of 7% and 7.7% over the 2022-2030 period. In Europe, Germany is anticipated to grow at an approximate CAGR of 8.4%. These trends reflect the promising future of the ETC Systems market worldwide.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Topics Covered:
MARKET OVERVIEW
- Although Past Peak in 2023, Efforts to Solve the Inflation Puzzle Should Continue
- Here's What's Causing Inflationary Pressures in the Global Market
- Recession Triggered by Uncontrolled Inflation or Unemployment, Which is the Greater Evil? Inflation Battling Policy Measures to Slowdown Post Pandemic Recovery in Unemployment Rates: Global Number of Unemployed People (In Million) for Years 2019 Through 2024
- Impact of the COVID-19 Pandemic on the ETC Systems
- Competitive Scenario
- Electronic Toll Collection (ETC) Systems - Global Key Competitors Percentage Market Share in 2023 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- Select Innovations
- Road User Charging: The Only Sustainable Way to Fund Road Infrastructure Development
- Growing Investments in Construction of Roads and Highways Augurs Well for ETC Systems Market
- Growing Infrastructure Needs Drive Opportunities for ETC as Governments Focus on Bridging the Investment Gap through Tolling: Worldwide Cumulative Infrastructure Spending on Roads in US$ Billion by Region for the Period 2016-2040
- Road User Charging/Tolling Emerges as a Dual Edged Sword for Revenue Generation & Congestion Management
- Rising Economic Cost of Excess Travel/Transit Delays Strengthens the Business Case for Tolling to Manage Vehicular Congestion: Breakdown of Annual Hours of Delay Due to Traffic Congestions in Select Countries & Cities Worldwide
- ETC Emerges as a Key Enabling Technology for Tolling
- Need to Avoid Lengthy Waiting Lines & Environmental Pollution at Toll Plazas to Drive Demand for ETC Systems
- Global Market Prospects & Outlook
- Key Growth Drivers and Opportunities
- Analysis by Technology
- Analysis by Application
- Regional Analysis
- Asia-Pacific and Other Developing Countries to Drive Future Market Growth
- Government Initiatives
- Introduction to Road Infrastructure: Tolling and Toll Roads
- Electronic Toll Collection (ETC): A Prelude
- Classification Based on Lanes
- ETC System: OBU Classification
- ETC Toll Collection Process
- ETC: Implementation and Functional Challenges
- Key Benefits of ETC Systems
- Major Drawbacks
- Recent Market Activity
- Select Global Brands
MARKET TRENDS & DRIVERS
- Growing Investments in Road Infrastructure Development
- Continuous Development of World's Highways to Expand Market Opportunities for ITS & ETS Markets
- Automated Electronic Toll Collection Makes its Way into the ITS Domain
- Electronic Toll Collection Systems: Switching On the Play Button for Smarter Tolling
- Automatic Tolling System: Select Trends
- Location-based Payment Systems: The Future-Forward Options for Toll Payment
- Hunger to Stem Revenue Leakage Leads to Evolution of All-Electronic Tolling
- All-Electronic Tolling: Rewards with Certain Gaps
- Advanced All-Electronic Tolling to Drive Revenue Collection Efficiency
- Upcoming All-Electronic Tolling Technology to Transform Toll Collection
- Lessening the Challenge of Interoperability Stands Out as a Key Driver of Growth
- Interest in Interoperability to Endure in Foreseeable Future of Electronic Tolling
- Moving Beyond Universal Transponder & Revenue Leakage
- Role of Collaborations & Vehicle Technology
- ETC Systems, as a Vital Cog in the ITS Wheel, to Benefit from the Growing Investments in ITS
- Growing Investments in Intelligent Transportation Systems (ITS) to Catalyze the Deployment of ETC Systems for Smart Infrastructure Funding & Intelligent Traffic Control
- Payment Innovations Heighten the Attractiveness of ETC Deployments
- 5G to Widen the Role of Cellular Connectivity in ETC Ecosystem
- V2X-based Toll Payment
- ETC Systems Assist in Effective Traffic Management
- RFID: One of the Most Popular ETC Technologies
- RFID-Based ETC Systems Remain a Popular Choice as Evidenced by the Strong Preference for RFID Technology in Transportation Applications
- DSRC (Dedicated Short Range Communications), as a Superior Technology to RFID, Gains in Prominence
- As Satellite Technologies Emerge to the Forefront, New Generation, Multi-Constellation GNSS Hogs the Technology Limelight
- Growing Prowess & Maturity of GNSS as Evidenced by the Growing Value of its Technology Market Bodes Well for the Development of GNSS-Based ETC Systems: Percentage Breakdown of Global GNSS Market Revenues by Geographic Region (2023E)
- GNSS-based Tolling Storms into Limelight to Remove Physical Toll Booths
- India to Embrace GNSS-based Tolling System
- Video Tolling (ANPR): A Mature Technology
- Smart Cards in Demand for ETC Systems
- V2X Becomes Relevant in Electronic Toll Collection
- Innovation & Market Differentiation: Key Determinants for Success of ETC Projects
- Rapid Urbanization Triggers Growth in the ETC Market
- Major Challenges to Growth: A Synopsized Review
- Low Adoption of Satellite-Based GPS Technologies- A Restraining Factor
- Issues Related to the Selection of Toll Technology
FOCUS ON SELECT PLAYERS(Total 77 Featured)
- Abertis
- Sanef
- Atlantia S.p.A
- Conduent, Inc.
- Cubic Transportation Systems, Inc.
- DENSO Corporation
- Efkon Gmbh
- Far Eastern Electronic Toll Collection Co., Ltd. (FETC)
- G.E.A.
- GeoToll
- International Road Dynamics Inc.
- Kapsch Trafficcom AG
- Magnetic Autocontrol GmbH
- Neology, Inc.
- Perceptics LLC
- Q-Free ASA
- Siemens AG
- Star Systems International Ltd.
- Thales Group
- Toll Collect GmbH
- Toshiba Corporation
- TransCore
- TRMI Systems Integration
For more information about this report visit https://www.researchandmarkets.com/r/3o82ns
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