Electronic Toll Collection Market (2023-2030): Industry Insights, SWOT Analysis, Market Size, Share, and Key Growth Factors | CannonDesign CleverReach GmbH & Co. KG Cubic Corp.

Electronic toll collection (ETC) market is anticipated to grow at a CAGR of 6.6% during the forecast period (2024-2031). The global ETC market is expanding owing to technological advancements, government initiatives, and urban transportation needs. Electronic toll collection system (ETC) systems use radio frequency identification (RFID), global positioning system (GPS), automatic number plate recognition (ANPR), and dedicated short-range communications (DSRC) to automate toll collection and improve traffic flow. Key technologies include the Internet of Things (IoT), artificial intelligence (AI), and 5G connectivity. Government initiatives support ETC deployment, while public-private partnerships facilitate road development. Challenges include cost, public acceptance, and data privacy.

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Government investments in smart transportation infrastructure and policies aimed at reducing traffic congestion and emissions are bolstering the adoption of ETC systems. According to the World Health Organization (WHO), in December 2023, road traffic crashes caused 1.19 million mortalities annually, with injuries being the leading cause for children and young adults. For instance, in September 2020, Colombia's highway authority Invías launched a $15.0 million tender to develop a "smart highway" monitoring network that will cover 2,400km of roads across the country. The contract involves installing 210 surveillance stations that will monitor and report traffic speeds, emergency information, and data on stolen vehicles and cargo, among other services. The growing participation from government & transportation authorities in the development of smart roads is a key factor driving the growth of the ETC market globally.

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• Market Coverage
• Market number available for - 2024-2031
• Base year- 2024
• Forecast period- 2024-2031
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others

Market Segmentation
Global Electronic Toll Collection Market by Type
o Automatic Vehicle Classification (AVC)
o Violation Enforcement System (VES)
o Automatic Vehicle Identification System (AVIS)
o Others (Transaction Processing/Back Office)

Global Electronic Toll Collection Market by Technology
o Radio Frequency Identification
o Dedicated Short Range Communication
o Global Navigation Satellite System (GNSS)/GPS
o Video Analytics
o Cell Phone Tolling
o Others (Barcode-based ETC)

Global Electronic Toll Collection Market by End-User
o Highway
o Urban Area

Regional Analysis
o North America
o United States
o Canada
o Europe
o UK
o Germany
o Italy
o Spain
o France
o Rest of Europe
o Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
o Rest of the World
o Latin America
o Middle East and Africa

Company Profiles
o AECOM
o Aedas
o CallisonRTKL
o CannonDesign
o CleverReach GmbH & Co. KG
o Cubic Corp.
o EFKON GmbH
o Gensler
o Hardlines Design Co.
o HDR, Inc.
o HKS Inc.
o IBI Group Inc.
o JENOPTIK AG
o RTX Corp.
o Skidmore College
o Stantec Inc.
o Thales Group
o TransCore

The Report Covers
• Market value data analysis of 2023 and forecast to 2031.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global electronic toll collection market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.

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