Electronic Toll Collection Systems Market Outlook to 2027 - Conduent, Kapsch Group, Mitsubishi Heavy Industries Machinery Systems, Siemens Mobility, Thales Grou, Continuum Electroproducts, EFKON, Neology, QuaLiX Information System, SkyToll

The electronic toll collection systems market is anticipated to reach US $7.2 billion by 2027. The services market was valued at US$ 4.1 billion in 2017 and is projected to witness a CAGR growth of 6.6% from 2019 to 2027 in the electronic toll collection systems market.

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. However, the recent surge in the number of registered vehicle’s growth has witnessed a significant rise compared to the transportation infrastructure growth. The significant increase in congestion has resulted in a demand for a robust as well as efficient approaches to toll collection at gateways and driving the growth of automated toll collection systems. The electronic toll collection systems market constitutes a set of hardware equipment and software programs forming a cohesive unit that facilitates automate toll collection process. The electronic toll collection systems market constitutes systems that effectively identifies, classifies, and subsequently collect the transit transaction from prepaid user account as per system design. Further, the system also provides enforcement for toll violators, vehicle registration, back office support, congestion management, and intelligent transportation-related services among other services.

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The key players influencing the market are:

1. Conduent, Inc.
2. Kapsch Group
3. Mitsubishi Heavy Industries Machinery Systems, Ltd.
4. Siemens Mobility GmbH
5. Thales Group
6. Continuum Electroproducts LLP
7. EFKON GmbH
8. Neology, Inc.
9. QuaLiX Information System LLP
10. SkyToll, a. s.

The recent joint efforts by state and central government agencies for initiating a streamlined process for transit transaction across toll gateways, plazas, parking systems, and traffic management has gained traction in the past few years. Moreover, through collaborative efforts among different state bodies to participate in joint toll collection systems that are accepted by government agencies and offering simplified toll collection for different users. The electronic toll collection systems market operates on a pre-paid account based system that is adopted by various state agencies for a seamless array of fright fees, toll, and fines across a wider geographical region of the country. For instance, North America’s based E-ZPass is an interagency group based electronic toll collection system, which is interoperable across seventeen different states in the US. Moreover, the system boasts of largest successful interoperable based toll collection system in the world with more than 20 million active accounts that utilize 34 million toll based tags that amount to $9 billion in revenue generation for partnered state agencies. Thus, the electronic toll collection systems market is expected to witness a surge in demand in the coming years.

The global electronic toll collection systems market is greatly influenced by the developed economies that lead the market share in the global electronic toll collection systems market owing to early adoption and through a government initiative. As a result, the past decade has witnessed a significant number of state agencies opting for an efficient alternative solution for toll collection process. Also, the effective implementation of ETC systems has enabled a broader scope of application through intelligent transportation services such as congestion management, identifying traffic patterns and gathering actionable insights for the formulation of transportation policies among other applications. For instance, E-ZPass and EETS (European Electronic Toll Service), owing to their early introduction and effective integration have facilitated seamless electronic toll collection processes in the U.S and European Union respectively. Also, Japan’s considerable effort to implement electronic toll collection is showing results through the significant reduction in congestion at highway toll gateway, lowered vehicular traffic and improved congestion management. Thus, owing to their proven expertise in the successful toll collection process and their related services the developed countries have a profound influence over the growth of electronic toll collection systems market and are expected to provide attractive services related business opportunities for the market players in electronic toll collection systems market.

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Services owing to their broad scope of utility in management, gathering insights and formulating policies for the future growth of the infrastructure is anticipated to propel the growth of electronic toll collection systems market. Moreover, services such as consulting, training and development is also expected to gain traction, especially among emerging economies due to increasing adoption of the ETC systems and is projected to drive the growth of electronic toll collection systems market. As a result, the services dominated the market segment by offering and accounted for 79.1% in 2017 and is expected to maintain its leading market position in the coming years.

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This release was published on openPR.