Global Electronic Toll Collection Market size is expected to grow to USD 12.2 billion by 2027

From USD 7.2 billion in 2021, the Global Electronic Toll Collection Market size is expected to grow to USD 12.2 billion by 2027. It will exhibit a CAGR of 7.9% during the projection period. The deployment of electronic toll collecting systems is predicted to accelerate as transportation infrastructure develops, allowing for faster monetary and cashless transactions at toll booths and reduced traffic congestion on highways.

The advancement in smart transportation systems, increased requirement for efficient traffic management solutions, growth in population, and technological development like real-time tracking and monitoring devices on vehicles and RFID sensors will have a favorable impact on the ETC systems globally.

Furthermore, the surge in initiatives taken by the government to have congestion-free transportation, rapid growing vehicle demand, the shift in consumer preferences, and rising production in emerging and advanced countries to develop smart vehicles will proliferate the market outlook for the electronic toll collection industry.

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Global Electronic Toll Collection Market Segment Analysis

This section of the report provides a comprehensive analysis of segments and sub-segments and offers insight into the leading segment and anticipates segments having the fastest growth.

The Global Electronic Toll Collection Market is segregated based on:

By Type
• Transponder-/Tag-based Tolling Systems
• Other Tolling Systems

By Sub-System Type
• Automatic Vehicle Classification (AVC)
• Violation Enforcement System (VES)
• Automatic Vehicle Identification System (AVIS)
• Others

By Payment Method
• Prepaid
• Hybrid
• Postpaid

By Technology
• Radio-frequency Identification (RFID)
• Dedicated Short-range communication (DSRC)
• Infrared
• GNSS & GPS
• Video Analytics

By Application
• Highway
• Bridges
• Urban Areas

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Competitor Landscape

Key advancements in the Global Electronic Toll Collection industry, as well as organic and inorganic growth approaches, are covered in the research. A number of companies are prioritising new launches, product approvals, and other organic growth tactics such as patents and events. Inorganic growth strategies in the market included acquisitions, partnerships, and collaborations. These efforts have paved the road for industry players to expand their business and client base. The industry players in the inspection management software market are expected to benefit from attractive growth prospects in the future. A list of a few businesses involved in the Global Electronic Toll Collection Market are provided below:

• Kapsch TrafficCom AG
• Conduent Business Services, LLC
• EFKON GmbH
• Thales Group
• Raytheon Technologies Corporation
• TransCore
• Siemens
• Cubic Corporation
• Neology Inc.
• FEIG ELECTRONIC
• Toshiba Infrastructure Systems & Solutions Corporation

FAQ
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• Name some of the prominent industry players in the Report?
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