Electronic Toll Collection Market to Exhibit a Remarkable CAGR of 8.8% by 2031, Size, Share, Trends, Key Drivers, Demand, Opportunity Analysis and Competitive Outlook

The Electronic toll collection market size was valued at USD 8.97 billion in 2023 and is projected to reach USD 17.33 billion by 2031, with a CAGR of 8.8% during the forecast period of 2024 to 2031.

Electronic Toll Collection (ETC) is a system that allows for automated toll payment without requiring vehicles to stop at toll booths. Utilizing technologies such as transponders, RFID tags, or license plate recognition, ETC enables vehicles to pass through toll plazas while the toll fee is deducted electronically from a pre-funded account or billed later.

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Some of the major players operating in the Electronic Toll Collection market are Kapsch TrafficCom AG (Austria), TransCore (U.S.), Raytheon Company (U.S.), Conduent Inc. (U.S.), Thales Group (France), Cubic Corporation (U.S.), Vinci SA (France), Siemens AG (Germany), EFKON (Austria), Neology Inc. (U.S.), TOSHIBA CORPORATION (Japan), MITSUBISHI HEAVY INDUSTRIES LTD (Japan), Abertis (Spain), Quarterhill Inc. (Canada), Perceptics LLC (U.S.), Star Systems International (U.S.), Electronic Transaction Consultants Corporation (U.S.), ARH Inc. (Hungary), SICE (Spain), Autostrade per l'Italia (Italy), JENOPTIK AG (Germany), Far Eastern Electronic Toll Collection Co Ltd. (Taiwan), Toll Collect GmbH (Germany), GeoToll (U.S.), Indra Sistemas (Spain), Kistler Group (Switzerland), and American Traffic Solutions (U.S.)

Global Electronic Toll Collection  Market Scope
The market is segmented on the basis of payment method, type, technology, offering, application and parameters of toll amount. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Payment Method
Prepaid
Hybrid
Postpaid
Type
Transponder/Tag-Based
Others
Technology
Radio Frequency Identification (RFID)
Dedicated Short Range Communication (DSRC)
Global Navigation Satellite System (GNSS)/GPS
Video Analytics
Cell Phone Tolling
Others
Offering
Hardware
Back Office and Other Services
Application
Highways
Urban Areas
 Parameters of Toll Amount
Distance Based
Point Based
Time Base
Perimeter Based

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