Electronic Toll Collection (ETC) Systems Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Component (Hardware, Software, Services), By Technology (Barcode-based, RFID-based, ANPR, Others) And By Geography - Forecasts From 2022 To 2027

  • Published : Aug 2022
  • Report Code : KSI061612054
  • Pages : 146

The global electronic toll collection (ETC) systems market is projected to grow at a CAGR of 19.41% to reach a market size of US$10,386.709 million by 2027, up from US$3,000.579 million in 2020.

ETC systems are considered the most complex and the latest methods for toll collection. This allows the vehicles to pass through a toll facility without stopping the driver. It helps in the smooth traffic flow, thereby contributing towards efficient traffic management as well. Hence, electronic toll collection systems are continuing to evolve owing to the several benefits these systems offer in comparison to the other toll collection methods. Furthermore, the growing electronic industry and the growing IT industry are propelling the growth of the global electronic toll collection systems market in the forecast period.

Several government policies leading to the development of ETCs as part of urban infrastructure development, are expected to drive market growth.

The stringent government regulations regarding carbon emission and the increasing government expenditure on infrastructural development are the driving factors for anticipating the market demand for these systems. Moreover, the emerging trend toward all-electronic tolling systems in major developing countries is also expected to be a major market growth opportunity for vendors and manufacturers over the forecast period. Furthermore, evolutions in information and communication technology are increasing the prospects of designing Intelligent Transportation Systems (ITS) as per the specific needs of the countries in the APAC region, thus fueling market growth during the forecast period and beyond. Further, the rapid adoption of the latest technology and acceptance of end-users towards adopting these advanced toll collection systems is expected to boost the market growth for electronic toll collection systems during the forecast period.

By component, the ETC Systems market is segmented as follows: hardware, software, and services.

Hardware held a significant share in the market and is anticipated to witness moderate growth over the forecast period on account of increasing demand for automobiles and increasing traffic. The software segment is expected to have the fastest growth in the market, followed by services during the same year. In addition, growing carbon emissions across the globe are expected to propel the market growth opportunities for the software and service, a segment during the forecast period.

By technology, the ETC Systems market is segmented as barcode-based, RFID-based, ANPR, and others.

Barcode-based held a sizeable share in the market and is anticipated to witness moderate growth over the forecast period because of less complexity in the system and lower cost. The RFID-based segment is expected to have the fastest growth in the market, followed by ANPR during the same year. In addition, growing awareness regarding carbon emissions further leads to the adoption of automatic toll collection systems, which is expected to anticipate the market growth opportunities for the RFID-based and ANPR-based system types.

By geography, the electronic toll collection (ETC) Systems market is segmented into North America, South America, Europe, the Middle East, Africa, and the Asia Pacific.

Europe holds the major market share on account of the early adoption of electronic toll collection systems in countries such as the UK, Germany, and France. Strict regulations regarding carbon emissions and road accidents are driving the demand for electronic toll collection systems in the region. APAC is projected to witness the fastest regional market growth owing to rising investments in smart highways and increasing government efforts to reduce congestion on roads. As the Asia Pacific region is turning increasingly urban, which is a trend being observed in most developing nations. This rapid increase in urbanization is increasing the demand for public and individual transport as well, thus giving rise to its efficient management. This has created a need for the Intelligent Transportation System (ITS), where Electronic Toll Collection (ETC) Systems also play a significant role in effective traffic management and are contributing to the reduction in carbon emissions. North America is also expected to hold a significant share in the market owing to well-developed transportation infrastructure and rising government expenditure.  For instance, President Biden's infrastructure plan for the improvement of bridges and highways might boost the construction of new toll motorways and roads around the nation.

Key Developments:

  • Thales and Siva have partnered to revolutionize the electronic toll system in Guatemala, in November 2021. The PITZ® (Peage Intelligent Transport Zero) electronic toll collection system by Thales and Siva allowed integrated, real-time management of multi-form toll payments. Thales reported that the solution will be capable of managing and securing more than 22,000 vehicle payments per day.
  • Fideicomiso Ruta Uno had chosen Kapsch to provide a toll collection service with TAG devices for the toll stations in September 2021. The project aimed at implementing electronic or manual toll collection for 7 mixed lases. The toll station operated under SmartToll technological solutions which allowed integration with the Quick Pass intermediation and electronic collection system.

COVID-19 Impact on Electronic Toll Collection (ETC) Systems Market

The pandemic has decelerated the overall electronic toll collection system’s market growth in the last few years owing to the imposed lockdown restrictions. People were not allowed to travel outside and there was a ban on tourism, which sharply declined the overall market’s growth. Furthermore, toll collections were suspended during the pandemic to ease emergency services. For instance, the Union Minister of Road, Transport, and Highway of India announced the temporary suspension of toll collection in March 2020. However, the market is all set to recover after the first quarter of 2021 due to the lift of travel bans and lockdown rules and regulations.

Electronic Toll Collection Systems Market Scope:

Report Metric Details
 Market Size Value in 2020  US$3,000.579 million
 Market Size Value in 2027  US$10,386.709 million
 Growth Rate  CAGR of 19.41% from 2020 to 2027
 Base Year  2020
 Forecast Period  2022–2027
 Forecast Unit (Value)  USD Million
 Segments Covered  Component, Technology, And Geography
 Regions Covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies Covered Atlantia, Thales, DENSO CORPORATION, EFKON GmbH, Far Eastern Electronic Toll Collection Co., Ltd., Siemens Mobility GmbH, The Revenue Markets, Inc., TransCore
 Customization Scope  Free report customization with purchase.

 

Segmentation

  • By Component
    • Hardware
    • Software
    • Services
  • By Technology
    • Barcode-based
    • RFID-based
    • ANPR
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • United Kingdom
      • Germany
      • France
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • South Korea
      • Indonesia
      • Taiwan
      • Others
 

Frequently Asked Questions (FAQs)

The global electronic toll collection (ETC) systems market is projected to reach a market size of US$10,386.709 million in 2027.
The electronic Toll Collection (ETC) Systems market was valued at US$3,000.579 million in 2020.
The global electronic toll collection (ETC) systems market is projected to grow at a CAGR of 19.41% over the forecast period.
Europe holds the major market share on account of the early adoption of electronic toll collection systems in countries such as the UK, Germany, and France.
The growing electronic industry and the growing IT industry are propelling the electronic toll collection systems market growth in the forecast period.

1. INTRODUCTION
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation


2. RESEARCH METHODOLOGY  
2.1. Research Data
2.2. Assumptions


3. EXECUTIVE SUMMARY
3.1. Research Highlights


4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis


5. ELECTRONIC TOLL COLLECTION (ETC) SYSTEMS MARKET, BY COMPONENT
5.1. Introduction
5.2. Hardware
5.3. Software
5.4. Services


6. ELECTRONIC TOLL COLLECTION (ETC) SYSTEMS MARKET, BY TECHNOLOGY
6.1. Introduction
6.2. Barcode-based
6.3. RFID-based
6.4. ANPR
6.5. Others


7. ELECTRONIC TOLL COLLECTION (ETC) SYSTEMS MARKET, BY GEOGRAPHY
7.1. Introduction
7.2. North America
7.2.1. United States
7.2.2. Canada
7.2.3. Mexico
7.3. South America
7.3.1. Brazil
7.3.2. Argentina
7.3.3. Others
7.4. Europe
7.4.1. United Kingdom
7.4.2. Germany
7.4.3. France
7.4.4. Spain
7.4.5. Others
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.5.2. UAE
7.5.3. Others
7.6. Asia Pacific
7.6.1. Japan
7.6.2. China
7.6.3. India
7.6.4. South Korea
7.6.5. Indonesia
7.6.6. Taiwan
7.6.7. Others


8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix


9. COMPANY PROFILES
9.1. Atlantia 
9.2. Thales
9.3. DENSO CORPORATION
9.4. EFKON GmbH
9.5. Far Eastern Electronic Toll Collection Co., Ltd.
9.6. Siemens Mobility GmbH
9.7. The Revenue Markets, Inc.
9.8. TransCore


Atlantia

Thales

DENSO CORPORATION

EFKON GmbH

Far Eastern Electronic Toll Collection Co., Ltd.

Siemens Mobility GmbH

The Revenue Markets, Inc.

TransCore