Future of Electronic Toll Collection Market: Size, Share & Forecasts to 2029

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What Is the Projected Market Size Valuation of the Electronic Toll Collection Market by 2025?
There has been significant growth in the electronic toll collection market size in the past few years. The market is projected to rise from $8.71 billion in 2024 to $9.51 billion in 2025, registering a compound annual growth rate (CAGR) of 9.2%. The past growth trend is seen as a result of factors such as the escalating need for effective traffic management, growing adoption of digital technology, the necessity to upgrade the speed and productivity of traffic movement, growing demand for proficient toll-collection solutions, and the rising usage of refined technologies in transportation applications.

What Is the Estimated Market Growth Value for the Electronic Toll Collection Industry in 2029?
Anticipations indicate robust expansion in the electronic toll collection market size in the coming years, reaching $13.39 billion in 2029, with an 8.9% CAGR. This upward trend during the forecast period is mainly due to factors like mounting traffic on highways, increased use of video analytics, and the shift towards digital toll payments prompted by escalated highway construction ventures. The rising demand at toll plazas for contactless operations, increased consciousness of road accidents, and road traffic also catalyze this growth. Future trends projected to dominate the forecast period involve the incorporation of cutting-edge technologies, moving towards all-electronic tolling (AET), promoting interoperability and standardization, choosing mobile-based solutions, and prioritizing user experience and customer service.

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What Are the Growth Drivers and Opportunities in the Electronic Toll Collection Market?
The expansion of the electronic toll collection market is anticipated due to increasing highway traffic. Highway traffic, which is often affected by congestion, volume, and demand for transport, is a term that refers to the movement of vehicles on road systems. Inadequate urban planning, road development, and the emergence of phantom traffic jams cause this increased traffic. Traditional toll booths often cause vehicles to experience delays during peak hours, leading to congestion and lengthier travel durations. Electronic toll collection abolishes the need for vehicles to halt or decelerate at toll booths, enabling a smooth transition through tolling points. This optimizes travel durations for commuters and improves the efficiency of highways, able to handle the escalating traffic volumes without significant delays. For example, as per the gov.UK website, a government site based in the UK, there was a 3.0% rise in the car and taxi traffic in 2023 compared to 2022 in Great Britain, totalling 251.3 billion vehicle miles in May 2024. Consequently, increased traffic on highways is propelling the growth of the electronic toll collection market.

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What Are the Primary Segments Covered in the Global Electronic Toll Collection Market Report?
The electronic toll collection market covered in this report is segmented -

1) By Type: Automatic Vehicle Classification (AVC), Violation Enforcement System (VES), Automatic Vehicle Identification System (AVIS), Other Types
2) By Payment Method: Prepaid, Hybrid, Postpaid
3) By Technology: Radio Frequency Identification (RFID), Dedicated Short Range Communication (DSRC), Global Navigation Satellite System (GNSS) Or GPS, Video Analytics, Cell Phone Tolling, Other Technologies
4) By End-user: Highway, Urban Area

Subsegments:
1) By Automatic Vehicle Classification (Avc): Lane-Based Avc Systems, Non-Intrusive Avc Solutions, Weighted Classification Systems, Vehicle Axle Counting Systems, Vehicle Length And Height Detection Systems, Dynamic Classification Systems
2) By Violation Enforcement System (Ves): Automatic Number Plate Recognition (Anpr) Systems, Ticketing and Fines Management Systems, Cameras and Imaging Solutions For Violation Detection, Video Analytics For Toll Violation, Violation Detection for Hov Lanes, Crossing And Speed Limit Violation Detection Systems
3) By Automatic Vehicle Identification System (Avis): Rfid-Based Avis, Infrared And Optical Avis, Bluetooth-Based Vehicle Identification, Mobile App-Based Avis Solutions, Near-Field Communication (Nfc) for Vehicle Identification, License Plate Recognition (Lpr) Systems
4) By Other Types: Multi-Lane Free Flow (Mlff) Systems, Dedicated Short Range Communication (Dsrc) Systems, Gps and Satellite-Based Toll Collection Systems, Hybrid Tolling Systems, Smartphone And Mobile Payment Solutions For Tolling

What Are the Top Growth Trends in the Electronic Toll Collection Market?
Significant players in the electronic toll collection market are aiming to enhance system efficiency by creating superior solutions like 'One Vehicle and One FASTag'. In January 2024, the National Highways Authority of India (NHAI), a representative agency of India's Ministry of Road Transport and Highways, introduced the 'One Vehicle, One FASTag' project with an aim to enable uninterrupted movement at toll booths. The venture is designed to curb the use of a single FASTag for multiple vehicles and connecting several FASTag to a specific vehicle. NHAI advises FASTag users to finish the 'Know Your Customer' (KYC) procedure for their latest FASTag and update it as per Reserve Bank of India's regulations. This 'One Vehicle, One FASTag' project is anticipated to enhance toll function, ensuring smooth and convenient travel for users of national highways.

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Which Companies Are Shaping the Future of the Electronic Toll Collection Market?
Major companies operating in the electronic toll collection market are Raytheon Technologies Corporation, Mitsubishi Heavy Industries Ltd., Thales Group, Infineon Technologies AG, Siemens Mobility, Ferrovial S.E., Xerox Holdings Corporation, Conduent Inc., TransCore, Cubic Corporation, SKIDATA GmbH, VITRONIC, Kapsch TrafficCom, IBI Group Inc., Neology Inc., Sensys Gatso Group, Q-Free ASA, Autostrade per l'Italia S.p.A., EFKON AG, Star Systems International Ltd., Far Eastern Electronic Toll Collection Co. Ltd., Ingenico, Perceptics LLC, TagMaster, GeoToll Inc., Watchdata Technologies, Korea Smart Card Co. Ltd., Electronic Transaction Consultants LLC

Which Region Holds the Largest Market Share in the Electronic Toll Collection Industry?
North America was the largest region in the electronic toll collection market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electronic toll collection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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