Electronic Toll Collection Systems Market Demand, Supply, Growth Factors, Latest Rising Trend & Forecast to 2027
The electronic toll collection systems market is anticipated to reach US $9.1 billion by 2027 from US$ 5.3 billion in 2018 thereby registering a moderate CAGR growth rate of 6.5% during the forecast period.
The toll collection at roads, tunnels, or expressways among others have proven to be an efficient medium for collecting fees, tax, generating revenue for public-private partnered infrastructure projects or maintenance fees for the state as well as government agencies. The tolls collected are subsequently utilized for various public services such as maintenance of highways, tunnels, bridges, financing future expansion of projects and managing congestion among others some objectives. As a result, the Asia-Pacific region to witness the most attractive growth rate by region in the global electronic toll collection system market. The South America electronic toll collection systems market region is expected to witness a CAGR growth rate of 5.93% in the coming years.
The European Union’s EETS (European Electronic Toll Collection Service) regulation and guidelines for effective implementation of electronic toll collection systems and seamless transit transaction collection have resulted in Europe’s leading market share in the global electronic toll collections system. Further, the strong economic background along with coupled with government support has also facilitated the early adoption of electronic toll collection systems for reducing the congestion across toll plazas and gateways. Also, the growing emphasis towards reducing vehicle pollution and the popularity of intelligent transportation services are projected to drive the market growth of electronic toll systems in the region.
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The global electronic toll collection systems market is dominated by few major players that specialize in intelligent transportation- related service and provide a broad range of solutions for seamless toll collection at locations attracting significant traffic volume. For instance, some of the leading players that are currently present in the market are Kapsch Group, SkyToll, a. s., Mitsubishi Heavy Industries Machinery Systems, Ltd. Conduent Inc., and Thales Group among other market players. The companies have facilitated in significant adoption, installation, and maintenance of state of the art technology enabled electronic toll collection systems across North America, Europe, and Asia- pacific regions.
The market for electronic toll collection systems is globally has been segmented into two segments namely: offerings and technology used. Based on technology, the market is broadly classified into ANPR, DSRC, GNSS, and other major technologies that are being used for delivering electronic toll collection systems. Whereas, the offerings segment is divided into hardware equipment and services that are offered by various market players.
The rising demand for interoperable electronic toll collection systems is anticipated to have a profound influence over the market growth. Further, the growing volume of freight transportation through road as well as the slow pace of infrastructure growth among developing economies is anticipated to drive the congestion across various toll centers and plazas in the coming years. Subsequently, driving the demand for efficient toll collection to accommodate the surge in traffic volume increasing demand for electronic toll collection systems among emerging economies. Whereas among the developed region the market is primarily driven by service, and maintenance of existing electronic toll collection systems, as the government strive towards providing superior traveling experience for the travelers.
The report segments the global electronic toll collection systems market as follows:
Global Electronic Toll Collection Systems Market – By Offerings
Global Electronic Toll Collection Systems Market – By Technology Used
Global Electronic Toll Collection Systems Market – By Geography
Rest of Europe
Rest of APAC
Middle East & Africa (MEA)
Rest of MEA
South & Central America (SAM)
Rest of SAM
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