Worldwide Electronic Toll Collection Industry to 2025 - Featuring Efkon, Transcore & Thales Group Among Others

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Aug 17, 2020, 13:15 ET

DUBLIN, Aug. 17, 2020 /PRNewswire/ -- The "Electronic Toll Collection Market with COVID-19 Impact Analysis by Technology (RFID, DSRC, ANPR/ALPR, and Satellite-Based), Offering (Hardware, and Back Office and Other Services), Application, Type, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The electronic toll collection market was valued at USD 8.1 billion in 2019, and it is expected to grow at a CAGR of 7.7% from 2020 to 2025 to reach USD 10 billion by 2025.

The electronic toll collection market in APAC is projected to grow at the highest CAGR during the forecast period. Countries such as China, Japan, India, and South Korea are major contributors to the growth of the electronic toll collection market in APAC. The growth prospective of the electronic toll collection market in APAC is promising with a steady growth rate in the near future.

The COVID-19 pandemic has affected the market in APAC, however, a steady recovery by 2021 is expected with the significant infrastructural investments and government support. The major restraints for the growth of the market are implementation constraints in emergent nations. Issues related to interoperability and common standards act as major challenges for the growth of the market.

The transponder-/tag-based tolling segment projected to hold a larger share of the electronic toll collection market during the forecast period.

TransCore (US), Q-Free (Norway), and Star Systems International (Hong Kong) are the major companies that offer transponders for electronic tolling systems. TransCore (US) offers RFID transponders and readers, which are widely used in toll operations across the US. Interoperable multi-protocol transponders provided by the company use existing toll infrastructure, thereby eliminating risky and costly modifications for tolling agencies.

Among applications, the highways segment to grow at a higher CAGR between 2020 and 2025.

The electronic toll collection market is significantly driven by its adoption mainly in developing countries. Government initiatives to promote faster payments of toll fees through a digital mode and decongest highways would generate immense growth opportunities for the ETC market. For instance, in December 2019, the National Highways Authority of India initiated electronic toll collection at national highways through FASTag, an RFID tag. Many interurban toll highways, including Highway 6 (Israel) and Northern Gateway Toll Road (New Zealand), all over the world use DSRC-based ETC systems.

RFID technology to hold the largest share of the electronic toll collection market during the forecast period.

RFID technology utilizes its radio-frequency electromagnetic fields for the identification of objects that carry RFID tags. This technology is used in electronic identification, tracking, and storing information contained on the tag. Two-way radio transmitters/receivers called interrogators or readers send a signal to the tag and read its response. RFID readers scan the tag and then send that information to the database for storing. RFID is a prominent technology used in ETC systems owing to its low operational cost.

North America projected to hold the largest share of the electronic toll collection market in 2025.

North America is expected to continue to lead the electronic toll collection market by capturing the largest market size throughout the forecast period. The US and Canada are the key countries in North America with most vehicles per person, which is one of the most contributing factors to the growth of the electronic toll collection market. Additionally, both the countries have the largest networks of interstate and state highways wherein advanced toll collection systems are installed at many locations, and several toll installation projects are in progress for lanes with high traffic. Leading companies such as TransCore (US), Raytheon (US), and Conduent (US) in the electronic toll collection market have their base in North America while having operations in countries across the world. They contribute significantly to the growth of the electronic toll collection market in the region.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Electronic Toll Collection Market
4.2 Electronic Toll Collection Market in North America, by Technology and Offering
4.3 Electronic Toll Collection Market, by Application
4.4 Country-Wise Electronic Toll Collection Market Growth Rate

5 Market Overview
5.1 Market Dynamics
5.1.1 Drivers
5.1.1.1 Effective Solution to Reduce Traffic Congestion, Accidents, and Environmental Pollution
5.1.1.2 Strong Government Support to Accelerate Electronic Toll Collection
5.1.1.3 Greater Convenience and Flexibility of Cashless Payments
5.1.1.4 Increased Use of Advanced Digital Technologies in Transportation Infrastructure
5.1.2 Restraints
5.1.2.1 Implementation Constraints in Emergent Nations
5.1.3 Opportunities
5.1.3.1 Growing Utilization of Blockchain Technology in Toll Collection Systems
5.1.3.2 Rising Number of Public-Private Partnership Agreements in Transportation Sector
5.1.3.3 Increasing Transition to All-Electronic Tolling Systems from Manual or Coin-Based Tolling Systems
5.1.4 Challenges
5.1.4.1 Issues Related to Interoperability, Common Standards, As Well As Selection of Toll Technology

6 Industry Trends
6.1 Value Chain Analysis
6.2 Case Study Analysis
6.2.1 Massachusetts Department of Transportation (Massdot)
6.2.2 Ministry of Road Transport and Highways and National Highways Authority of India
6.2.3 Promotora Y Operadora De Infraestructura (Pinfra)
6.2.4 Government of Brazil
6.3 Region-Wise Recent Developments in Electronic Toll Collection Market
6.4 Toll Payment Methods
6.4.1 Introduction
6.4.2 Prepaid Toll Payments
6.4.3 Post-Paid Toll Payments
6.4.4 Prepaid/Post-Paid Combination
6.5 Parameters for Charging Toll Amount
6.5.1 Introduction
6.5.2 Distance Based
6.5.3 Point Based
6.5.4 Time Based
6.5.5 Perimeter Based
6.6 Covid-19 Overview
6.6.1 Overview and Statistics

7 Electronic Toll Collection Market, by Type
7.1 Introduction
7.2 Transponder-/Tag-Based Tolling Systems
7.3 Other Tolling Systems
7.4 Impact of Covid-19 on Types of Tolling Systems

8 Electronic Toll Collection Market, by Technology
8.1 Introduction
8.2 Radio-Frequency Identification (RFID)
8.2.1 RFID Remains Largely Adopted Technology in Global Electronic Toll Collection Market
8.3 Dedicated Short-Range Communication (DSRC)
8.3.1 High Adoption of DSRC Technology-Based ETC Systems in Europe Boosts Market Growth
8.4 Other Technologies
8.4.1 Booming Trend of Gnss-/Gps-Enabled Electronic Toll Collection Techniques to Propel Market Growth
8.5 Impact of Covid-19 on Technologies of Tolling Systems

9 Electronic Toll Collection Market, by Offering
9.1 Introduction
9.2 Hardware
9.2.1 High Adoption of Advanced Tolling Systems to Boost Demand for Hardware Offerings
9.3 Back Office and Other Services
9.3.1 Increased Requirement to Process High Volume of Transactions Creating Demand for Back Office and Other Services
9.4 Impact of Covid-19 on Hardware and Service Offerings Related to Tolling Systems

10 Electronic Toll Collection Market, by Application
10.1 Introduction
10.2 Highways
10.2.1 Governments Plans to Promote Faster Digital Payments at Toll Plazas Accelerate Demand for ETC Systems on Highways
10.3 Urban Areas
10.3.1 Deployment of ETC Solutions to Ensure Congestion-Free Traffic Flow in Urban Areas Propels Market Growth
10.4 Impact of Covid-19 on Applications

11 Geographical Analysis
11.1 Introduction
11.2 North America
11.2.1 Impact of Covid-19 on Electronic Toll Collection Market in North America
11.2.2 US
11.2.2.1 US to Continue to Dominate Electronic Toll Collection Market in North America Throughout Forecast Period
11.2.3 Canada
11.2.3.1 Canada to Exhibit Implementation of ETC Systems on Major Highways and Bridges Connecting Cities
11.2.4 Mexico
11.2.4.1 Mexico to Carry Out Highway Development Projects to Connect Neighboring Countries Propelling Market Growth
11.3 Europe
11.3.1 Impact of Covid-19 on Electronic Toll Collection Market in Europe
11.3.2 Eu5
11.3.2.1 Collaborations Between Automotive Companies and Technology Providers Fuel Market Growth
11.3.3 Western Europe
11.3.3.1 New Installations and Modification of Electronic Toll Systems in Western Europe Foster Market Growth
11.3.4 Rest of Europe
11.4 APAC
11.4.1 Impact of Covid-19 on Electronic Toll Collection Market in APAC
11.4.2 China
11.4.2.1 China to Hold Prominent Share of Electronic Toll Collection Market in APAC in 2025
11.4.3 Japan
11.4.3.1 Technologically Equipped Ecosystem Offers Potential Growth Opportunities for ETC Market
11.4.4 South Korea
11.4.4.1 Major Developments Such As Hi-Pass Cards Foster South Korean Market Growth
11.4.5 Rest of APAC
11.5 Row
11.5.1 Impact of Covid-19 on Electronic Toll Collection Market in Row
11.5.2 Middle East and Africa
11.5.2.1 need to Streamline Traffic Flow on Highways and Urban Roads Propel Growth of ETC Market
11.5.3 South America
11.5.3.1 Developing Economies and Wide Network of Highways Creating High-Growth Opportunities for South America ETC Market

12 Competitive Landscape
12.1 Overview
12.2 Market Ranking Analysis (2019)
12.3 Competitive Scenario and Trends
12.4 Recent Developments (Top 5 Players)
12.4.1 Product Launches
12.4.2 Partnerships/Agreements/Contracts
12.4.3 Acquisitions
12.5 Competitive Leadership Mapping, 2019
12.5.1 Visionary Leaders
12.5.2 Dynamic Differentiators
12.5.3 Innovators
12.5.4 Emerging Companies

13 Company Profiles
13.1 Introduction
13.2 Key Players
13.2.1 Kapsch Trafficcom
13.2.2 Conduent Business Services, Llc
13.2.3 Efkon Gmbh
13.2.4 Transcore
13.2.5 Thales Group
13.2.6 Raytheon Technologies Corporation
13.2.7 Cubic Corporation
13.2.8 Siemens
13.2.9 Neology, Inc.
13.2.10 Feig Electronics
13.2.11 Vinci
13.3 Other Important Players
13.3.1 Toshiba
13.3.2 Mitsubishi Heavy Industries, Ltd.
13.3.3 Abertis
13.3.4 Q-Free
13.3.5 Quarterhill Inc. (International Road Dynamics Inc.)
13.3.6 Tecsidel, S.A.
13.3.7 Perceptics, Llc.
13.3.8 Star Systems International
13.3.9 G.E.A.
13.3.10 Electronic Transaction Consultants (Etc) Corporation
13.3.11 ARH Inc.
13.3.12 Sociedad Ibrica De Construcciones Elctricas, S.A. (Sice)
13.3.13 Autostrade Per L'italia Spa (Atlantia)
13.3.14 Jenoptik
13.3.15 Norbit
13.4 Key Innovators
13.4.1 Far Eastern Electronic Toll Collection Co. (Fetc)
13.4.2 Toll Collect Gmbh
13.4.3 Geotoll
13.4.4 Indra Sistemas, S.A.
13.4.5 Kistler Group
13.4.6 American Traffic Solutions

14 Appendix

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