Electronic Toll Collection Market Size Worth USD 15.79 Billion in 2032 | Emergen Research

Increasing usage of ETC to reduce traffic congestion, accidents, and environmental pollution is a key factor driving Electronic Toll Collection (ETC) market revenue growth

Vancouver, Feb. 01, 2024 (GLOBE NEWSWIRE) -- The global Electronic Toll Collection (ETC) market size was USD 8.37 Billion in 2022 and is expected to register a rapid revenue CAGR of 6.6% during the forecast period. Increasing usage of electronic tolls to reduce traffic congestion, accidents, and environmental pollution is a key factor driving market revenue growth. Electronic Toll Collection allows for easy toll collecting and traffic monitoring and enables toll fee payments to be made directly from the associated prepaid or savings account.

Electronic Toll Collection systems help to enhance traffic flow through toll areas. Manual toll collection lanes handle around 350 vehicles per hour, while automatic coin machine lanes handle approximately 500 vehicles per hour. Electronic Toll Collection frees vehicles from stop-and-go maneuvering at tollgates, results in significantly reduced traffic sounds and exhaust nitrogen oxides in the surrounding environment and helps to reduce carbon dioxide emissions.

For instance, on 2 February 2022, Guatemalan highway operator SiVA plans to install Thales' Peage Intelligent Transport Zero (PITZ) electronic toll collecting system along the Palin-Escuintla toll road corridor. Thales' PITZ technology, in its sixth version, can accept various payment methods, including cash, electronic tolls, and bank cards. In addition, this system also manages over 120 vehicles per minute, which SiVA considers a significant gain given that around 22,000 vehicles use the Palin-Escuintla toll road corridor every day.

Increasing government initiatives to accelerate Electronic Toll Collection is another factor driving revenue growth of the market. ETC systems help to improve efficiency, reduce traffic congestion, and enhance revenue collection. These systems involve the use of electronic transponders or tags installed in vehicles, which communicate with toll collection infrastructure as the vehicle passes through the toll point. Indian Highway Management Company Ltd. (IHMCL) is responsible for the maintenance of India's national highways.

For instance, on 24 March 2023, the government intended to adopt innovative technology such as Global Positioning System (GPS)-based toll collection systems to replace existing highway toll plazas. The motive is to minimize traffic congestion and tax motorists for the precise distance traveled on motorways.

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Advancements in technology and transport application is also expected to drive market revenue growth during the forecast period. For instance, on 13 September 2022, AEye, Inc., a global leader in adaptive, high-performance lidar solutions, and Intetra, a leading provider of end-to-end solutions for Intelligent Transportation Systems (ITS) and Electronic Toll Collection Systems (ETC), announced the development and deployment of their cutting-edge lidar-based tolling solution. The automated tolling system, powered by AEye's 4SightTM Intelligent Sensing Platform, outperforms inductive loop systems and other above-ground detection modalities such as camera and radar. It makes use of AEye's software-defined architecture to deliver accurate, real-time detection and create actionable and precise data for automated tolling.

Implementing Electronic Toll Collection systems necessitates considerable investments in hardware, software, and infrastructure development. High cost of installing toll gantries, and electronic tags, especially for existing road networks, is a key factor, which could restrain market revenue growth. These systems involve the collection and storage of personal data such as vehicle information and travel patterns. In addition, risk of unauthorized access to this data, raising concerns about privacy and data security, is another factor, which could restrain market revenue growth.

Segment Insights

Type Insights:

Based on type, the global Electronic Toll Collection market is segmented into transponder-/tag-based tolling systems, and other tolling systems.

The transponder-/tag-based tolling systems segment accounted for largest revenue share in the global Electronic Toll Collection market in 2022. This is because transponder-based tolling systems frequently offer lower toll rates than cash payment options. Transponder/tag-based tolling systems are commonly used for vehicle identification and automatically collect tolls charged to motorists on toll highways, High-Occupancy Vehicle (HOV) lanes, toll bridges, and toll tunnels. These systems are a more efficient alternative to toll booths, where drivers must stop and manually pay the toll with cash or a card.

Technology Insights:

Based on technology, the global Electronic Toll Collection market is segmented into RFID, Dedicated Short-Range Communication (DSRC), and others.

The RFID segment is expected to register steadily fast revenue growth rate in the global Electronic Toll Collection market during the forecast period. This is due to increasing use of automatic toll tax systems to reduce high traffic congestion, which is one of the most basic ways for managing massive traffic flow. When a car passes through a toll gate on any route, the RFID reader detects that it has passed through the clearance. This technology eliminates the need for human toll-based systems and the tolling system operates via RFID. All vehicles passing through the lane are detected by a motion detector, which triggers a camera to photograph the vehicle's license plate. The idea behind implementing RFID based toll system is to automate the toll collection process and reduce manual operation in toll booths and long queues at toll booths using RFID tags installed on vehicles.

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Regional Insights:

North America market accounted for largest revenue share in the global Electronic Toll Collection market in 2022. This is attributed to increasing usage of electronic toll collection to reduce traffic congestion, accidents, and environmental pollution in countries such as the U.S. and Canada. Moreover, increasing presence of key players in this region and rising number of strategic initiatives are also expected to drive market revenue growth in this region during the forecast period. For instance, on 28 April 2023, Conduent Transportation, a global provider of smart mobility technology solutions and a business subsidiary of Conduent Incorporated, launched new digital payment solutions for the transportation sector that use real-time payments via the Real-time Transport Protocol (RTP) network.

Asia Pacific market is expected to register fastest revenue growth rate in the global Electronic Toll Collection market over the forecast period. This is attributed to increasing convenience owing to cashless payment and rising government initiatives. Electronic Toll Collection systems provide an efficient and streamlined form of toll collecting, assisting in the reduction of traffic congestion and improvement of overall traffic flow. In addition, ETC systems become increasingly important in properly managing toll collecting, and guaranteeing the seamless running of these road networks, as new highways, motorways, and bridges are created, in countries such as India and China.

Scope of Research

Report DetailsOutcome
Market Size in 2022USD 8.37 Billion
CAGR (2023–2032)6.6%
Revenue Forecast To 2032USD 15.79 Billion
Base Year For Estimation2022
Historical Data2019–2021
Forecast Period2023–2032
Quantitative UnitsRevenue in USD Billion and CAGR in % from 2023 to 2032
Report CoverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments CoveredType, offering, technology, application, and region
Regional ScopeNorth America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country ScopeU.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Key Companies ProfiledKapsch TrafficCom AG Inc., Conduent, Inc., EFKON GmbH, TransCore,  Raytheon Technologies Corporation, Cubic Corporation, Siemens, TOSHIBA CORPORATION, MITSUBISHI HEAVY INDUSTRIES, LTD., and The Character Group
Customization Scope10 hours of free customization and expert consultation

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Major Companies and Competitive Landscape

The global Electronic Toll Collection market is fragmented with large and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective in the market.

Some major players included in the Electronic Toll Collection (ETC) market report are:

  • Kapsch TrafficCom AG
  • Conduent, Inc.
  • EFKON GmbH
  • TransCore
  •  Raytheon Technologies Corporation
  • Cubic Corporation
  • Siemens
  • Toshiba Corporation
  • Mitsubishi Heavy Industries, Ltd.
  • The Character Group

Strategic Development

  • On 10 June 2022, TOLLCAM signed the final documents required to fund a partnership contract for the building and management of 14 toll plazas on Cameroon's important national routes with the Ministers of Public Works and the fund of the Republic of Cameroon. TOLLCAM, a Cameroonian firm owned equally by RAZEL-BEC and EGIS, will be in charge of carrying out this contract over a 20-year period. This project offers modern and secure toll facilities on Cameroon's national road network.

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For the purpose of this report, Emergen Research has segmented Electronic Toll Collection (ETC) market on the basis of type, offering, technology, application, and region:

  • Type Outlook (Revenue, USD Billion; 2019–2032)
    • Transponder-/Tag-based Tolling Systems
    • Other Tolling Systems
  • Offering Outlook (Revenue, USD Billion; 2019–2032)
    • Hardware
    • Back-office and Other Services
  • Technology Outlook (Revenue, USD Billion; 2019–2032)
    • Radiofrequency Identification (RFID)
    • Dedicated Short–Range Communication (DSRC)
    • Others
  • Application Outlook (Revenue, USD Billion; 2019–2032)
    • Highways
    • Urban Areas
  • Regional Outlook (Revenue, USD Billion; 2019–2032)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. France
      3. UK
      4. Italy
      5. Spain
      6. Benelux
      7. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Turkey
      5. Rest of Middle East & Africa

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