Global Electronic Toll Collection Market By System Type (Automated Vehicle Identification, Automated Vehicle Classification and Others), By Technology (Infrared, GNSS/GPS and Others), By Application (Urban, Highways) and By Region - Global Forecast 2030

“Global Electronic Toll Collection Market” is the title of a recently published market report compiled by MarketResearch.Biz. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in to various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The global electronic toll collection market has been segmented on the basis of system type, technology, offerings, application, distribution channel, as well as regions and countries.

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The Global Electronic Toll Collection Market was valued at UЅD $9,163.9 Мn in 2020, and is projected to achieve a valuation of UЅD $23,986.4 Мn by 2030, at a САGR of 11.1%.

Overview:

Electronic toll collection refers to a wireless system by which its usage fee is collected automatically, and would usually apply to all toll roads, toll bridges, HOV lanes, toll tunnels, etc. It is a more efficient alternative that is gradually replacing conventional toll booths.

Dynamics:

An increasing number of expressway networks being developed in countries across the world, especially in developing economies, is leading to a greater demand for electronic toll collection systems. This is a major factor that is expected to continue to influence market growth for this global industry over the next 10 years.

Moreover, the steady increase in the number of smart cities being developed across the world, as well as the increase in numerous initiatives being carried out to promote the reduction of traffic reduction as well as the lowering of pollution levels are some of the other major factors that are expected to have a significant impact on the revenue growth of the global electronic toll collection market in the foreseeable future.

However, in light of the recent COVID-19 outbreak, the operations of numerous industries have either been temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global electronic toll collection market is no different, and this factor is anticipated to have a negative impact on the revenue growth of this industry. Additionally, the lack of adequate road networking infrastructure as well as the standardization of road systems due to the governing discrepancies in various regions are some of the other factors that are expected to continue to influence the market growth of this global market in the years to come.

Nonetheless, the increasing number of initiatives being implemented by respective governing bodies with regards to the usage of automatic toll infrastructures is a factor that is slated to broaden revenue growth opportunities for the global electronic toll collection industry over the next decade.

Segmentation of the global electronic toll collection market is as follows:

In terms of system type, the automated vehicle identification segment accounted for the maximum number of revenue shares of the global electronic toll collection market in 2020, and is expected to index the highest CAGR over the forecast period. The automated vehicle classification segment is also anticipated to index a high CAGR over the next 10 years.

With regards to technology, the radio frequency identification (RFID) segment accounted for the highest number of revenue shares of the global electronic toll collection market in 2020, and is anticipated to continue doing so over the next decade. The dedicated short range communication (DSRC) segment is also indicative of registering a high CAGR over the forecast period.

On the basis of offerings, the hardware segment accounted for the highest number of revenue shares in 2020, and is slated to remain this industry’s front-runner over the forecast period. The back office & other services segment is also expected to index a considerable number of revenue shares over the aforementioned timeline.

With respect to application, the highways segment accounted for the maximum number of revenue shares in 2020, and is anticipated to continue doing so over the next decade. The urban segment is also expected to index a high CAGR over the duration of this forecast.

Based on distribution channels, the OEMs segment accounted for the highest number of revenue shares in 2020, and is projected to remain this industry’s front-runner for the remainder of the forecast period. The aftermarket segment is also slated to register a significant CAGR in the years to come.

Regional Segmentation and Analysis:

North America accounted for the maximum number of revenue shares of the global electronic toll collection market in 2020, and is indicative of remaining this industry’s front-runner over the next decade. However, the markets in the Asia Pacific region is anticipated to register the highest CAGR over the course of the forecast period.

Segmentation of the Global Electronic Toll Collection Market:

Segmentation by System Type:

• Automated Vehicle Identification
• Automated Vehicle Classification
• Violation Enforcement System
• Transaction Processing

Segmentation by Technology:

• Radio-Frequency Identification (RFID)
• Dedicated short-range communication (DSRC)
• Infrared
• GNSS/GPS
• Video Analytics

Segmentation by Offerings:

• Hardware
• Back Office & Other Services

Segmentation by Application:

• Urban
• Highways
• Other Applications

Segmentation by Distribution Channel:

• OEMs
• Aftermarket

Segmentation by Regions:

• North America
• Europe
• APAC
• Latin America
• MEA