Electronic Toll Collection Market Size – By Component (Hardware, Software and Services), By Technology (RFID (Radio Frequency Identification), DSRC (Dedicated Short Range Communication), GNSS/GPS (Global Navigation Satellite System/Global Positioning System), ANPR (Automatic Number Plate Recognition), and Others), By Tolling Type (Open Tolling Systems, Closed Tolling Systems, Distance-Based Tolling and Dynamic Tolling/Congestion Pricing), By Application (Highways, Urban Zones and Bridges and Tunnels), & Region – Global Forecasts 2024 - 2034.
- PUBLISHED ON
- 2024-09-23
- NO OF PAGES
- 290
- CATEGORY
- Electronics & Communication
Market Overview
The Electronic Toll Collection market is predicted to develop at a compound annual growth rate (CAGR) of 10.8% from 2024 to 2034, when it is projected to reach USD 21,976.43 Million in 2034, based on an average growth pattern. The market is estimated to reach a value of USD 10,442.69 Million in 2024.
SOURCE: We Market Research
The Global
Electronic Toll Collection (ETC) Market refers to the industry and
infrastructure surrounding the automated toll collection systems used in
transportation. These systems enable the automatic collection of toll fees from
vehicles, typically on highways, bridges, tunnels, urban areas, and other
transportation networks, without the need for stopping at a toll booth.
ETC systems rely
on advanced technologies such as RFID, DSRC, GNSS, GPS, and ANPR to identify
and process vehicles as they pass through tolling points. The goal is to reduce
traffic congestion, minimize delays, enhance convenience for commuters, and
optimize revenue collection for transportation authorities.
These systems
can be integrated with broader traffic management strategies, including dynamic
tolling, and can support interoperability across different regions or
countries. They are increasingly being adopted as part of smart city
initiatives and are seen as critical for modernizing transportation
infrastructure globally.
Electronic Toll
Collection (ETC) systems are designed to automate toll payments on highways and
bridges, eliminating the need for human intervention or cash transactions.
These systems help manage traffic efficiently, reduce delays, and minimize
human errors. ETC is widely used in developed countries and is gaining traction
in emerging economies due to infrastructure development and digital
transformation initiatives. The market is expected to evolve with greater
technological innovation and increased adoption, particularly in emerging
markets where infrastructure development is a priority.
Market Scope
|
Report Attributes |
Description |
|
Market Size in 2024 |
USD 10,442.69 Million |
|
Market
Forecast in 2034 |
USD 21,976.43
Million |
|
CAGR % 2024-2034 |
10.8% |
|
Base
Year |
2023 |
|
Historic Data |
2016-2022 |
|
Forecast
Period |
2024-2034 |
|
Report USP
|
Production,
Consumption, company share, company heatmap, company production capacity,
growth factors and more |
|
Segments
Covered |
By Component,
By Technology, By Tolling Type, By Application and By Region |
|
Regional Scope |
North America,
Europe, APAC, South America and Middle East and Africa |
|
Country
Scope |
U.S.; Canada;
U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia;
China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico;
Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Electronic Toll Collection Industry: Dynamics &
Restrains
Market opportunity:
We Market
Research: Electronic Toll Collection
Dashboard
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