MarkNtel Advisors recently published a detailed industry analysis of the Global Electronic Toll Collection Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

Global Electronic Toll Collection Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030

The Electronic Toll Collection Market size is estimated to be USD 10.08 billion in 2024 & is expected to grow at a CAGR of around 8.9% during the forecast period, i.e., 2024-30.

What are the major Driver the Global Electronic Toll Collection industry?

Surge in the Requirement of Mitigating Traffic Congestion & Reducing Road Accidents – The implementation of Electronic Toll Collection (ETC) systems has a pivotal role in alleviating traffic congestion and enhancing road safety. There are many causes that contribute to traffic jams on highways, among which are increased emissions and accident risks (which result from it) when cars have to stop at toll booths. However, the introduction of ETC systems has made toll collection a more seamless process, enabling vehicles to pass through toll points without delays. With no need for manual intervention during toll collection, ETC systems ensure the free flow of traffic, which would otherwise be held up due to the stops made at traditional toll plazas. The countries lose a huge part of their GDP because road crashes claim about 1.2 million lives annually, according to the 2023 WHO Report. This forces governments all over the world to modernize transportation infrastructure, where the adoption of ETC is seen as an important measure to ensure road safety and optimize traffic flow.

The adoption of ETC systems on a large scale stands as a pivotal market driving force, revolutionizing traditional toll plazas. ETC systems significantly boost toll transaction rates by enabling seamless vehicle passage, curbing traffic congestion, and reducing air pollutant emissions. With ETC lanes offering a flow rate four times faster than manual toll collection, tollbooths equipped with ETC systems efficiently manage escalating traffic volumes without requiring additional lanes. Moreover, ETC technology empowers transportation authorities to leverage transaction data and traffic sensors, pinpoint congestion hotspots, and implement proactive traffic management strategies. As countries increasingly embrace Intelligent Transportation Systems (ITS), the demand for ETC systems intensifies, driven by their convenience, enabling drivers to pay toll fees using cards and eliminating the hassle of carrying cash.

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What segments define the Global Electronic Toll Collection Market from 2024 to 2030? How do these segments contribute to market dynamics and growth?

• By Type
• Transponders/Tag-based Tolling Systems- Market Size & Forecast 2019-2030, (USD Million)
• Others- Market Size & Forecast 2019-2030, (USD Million)
• By Payment Mode
• Prepaid Pay Tolls- Market Size & Forecast 2019-2030, (USD Million)
• Post-Paid Pay Tolls- Market Size & Forecast 2019-2030, (USD Million)
• By Technology
• Radio-Frequency Identification (RFID)- Market Size & Forecast 2019-2030, (USD Million)
• Dedicated Short-Range Communication (DSRC)- Market Size & Forecast 2019-2030, (USD Million)
• Others- Market Size & Forecast 2019-2030, (USD Million)
• By Offering
• Hardware- Market Size & Forecast 2019-2030, (USD Million)
• Back Office- Market Size & Forecast 2019-2030, (USD Million)
• Other Services- Market Size & Forecast 2019-2030, (USD Million)

According to report, The hardware segment within the electronic toll collection (ETC) industry is poised for substantial growth and is anticipated to maintain the highest growth rate over the forecast period.

• By Application- Market Size & Forecast 2019-2030, (USD Million)
• Highways- Market Size & Forecast 2019-2030, (USD Million)
• Urban Areas- Market Size & Forecast 2019-2030, (USD Million)

According to report, The urban areas segment holds a major market share and is poised to dominate the market in the foreseeable future, driven by the unparalleled advantages of electronic toll collection (ETC) systems.

Explore the Complete Global Electronic Toll Collection Market Analysis Report –

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Geographical Analysis: Global Electronic Toll Collection Market

• By Region
• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Global Electronic Toll Collection Market Share & Competitive Landscape:

The Electronic Toll Collection Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry's leading companies, highlighting their strengths, financial performance, and market influence.

Leading Companies in the Global Electronic Toll Collection Market are:

• Kapsch TrafficCom AG
• Neology
• Conduent, Inc.
• Efkon Gmbh
• Transcore
• Thales
• Cubic Corporation
• Siemens
• Infineon Technologies Ag
• Feig Electronic
• Toshiba Corporation
• Mitsubishi Heavy Industries, Ltd.
• Quarterhill Inc.
• Perceptics, Llc
• Star Systems International Ltd.

Global Electronic Toll Collection Market Industry Recent Developments

• January 2024: Neology engages in a contract with the Humber Bridge Board (HBB) in the UK, tasked with overseeing the management and upkeep of the Humber Bridge. Neology is in charge of providing the HBB with a complete electronic toll-collecting system that includes backend operations, roadside infrastructure, and website and mobile application solutions.

• November 2023: Kapsch TrafficCom AG collaborated with Exeger Operations AB (Sweden) to pioneer a ground-breaking solar cell innovation named Powerfoyle, specifically tailored for self-charging, eco-conscious communication solutions in electronic toll collection.

 Questions Addressed in this Study

1.What factors are driving the Global Electronic Toll Collection Market growth?

2.How is the Global Electronic Toll Collection Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Global Electronic Toll Collection Market ?

4.What is the current size of the Global Electronic Toll Collection Market, and how is it projected to change in the future?

6.What is the future outlook for the Global Electronic Toll Collection Market in terms of technological advancements and market expansion?

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Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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