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Get detailed analysis of the COVID-19 impact on the Electronic Toll Collection Market
Global Electronic Toll Collection Market Opportunities and Forecast 2020-2027
Global Electronic Toll Collection Market, By Subsystem (Automated Vehicle Identification, Automated Vehicle Classification, Violation Enforcement System, Transaction Processing), By Technology (Radio-frequency Identification (RFID), Dedicated Short-range communication (DSRC), Infrared, GNSS & GPS, Video Analytics), By Application (Urban, Highways), and opportunities and forecast 2020-2027
Electronic Toll Collection Market Overview
The electronic toll collection system employs a technology which allows electronic payment of toll. The electronic toll collection system uses vehicle-to-toll plaza communication technologies to make a monetary transaction between a vehicle passing through a toll plaza and the toll collection agency.
The increasing demand for higher safety and efficiency of transportation infrastructure is one of the key factors that boost the growth of the global Electronic Toll Collection market. This market is influenced by the growing need for reduction of traffic crowding, due to an increasing number of vehicles on road and bigger traffic jams. Further, government favorable initiatives for cashless transactions, rising government funds for road safety and control, and rapid development of smart city projects in several countries are other notable factors that are estimated to intensify the global electronic toll collection market. In addition, electronic toll collection acts as a cost-effective alternative to a staffed booth, as it reduces transactional costs for government agencies. This fact supports the growth of the electronic toll collection market.
Covid-19 Impact on Electronic Toll Collection Market
Like many other industries, COVID-19 badly knocked the electronic and semiconductor industries. This unprecedented event has impacted nearly 230 countries in just a few weeks, resulting in the forced shutdown of manufacturing and transportation activities within and across the countries. This has directly affected the overall sector's growth. It is estimated that COVID-19 to leave more than USD 30 billion impacts on the electronics and semiconductor industry. The sector is majorly affected due to transport restrictions on major electronics and semiconductor raw material providers. However, the emerging need for semiconductors in several industries will offer rapid market recovery over the future period.
According to Subsystem, Automated Vehicle Identification (AVI) is the largest segment in the global electronic toll collection market. Automatic Vehicle Identification (AVI) offers the opportunity to identify vehicles in various traffic situations in a secure, reliable, and cost-efficient way. Different applications like electronic toll collection, access control, and speed control, can benefit from AVI. Based on the Technology, Radio-frequency Identification (RFID) is a major segment in the market. FASTag is a device that employs Radio Frequency Identification (RFID) technology for making toll payments directly while the vehicle is in motion. FASTag (RFID Tag) is affixed on the windscreen of the vehicle and allows a customer to make the toll payments directly from the account which is linked to FASTag. FASTag offers the convenience of cashless payment along with benefits like savings on fuel and time as the customer does not has to stop at the toll plaza.
Electronic Toll Collection Market, By Technology · Radio-frequency Identification (RFID) · Dedicated Short-range communication (DSRC) · Infrared · GNSS & GPS · Video Analytics
Electronic Toll Collection Market, By Application · Urban · Highways
Electronic Toll Collection Regional Overview
In terms of region, North America commanded a major share of the electronic toll collection market and is predictable to maintain its supremacy over the forecast period. The US and Canada are the key countries for the market. Both the countries have the largest networks of interstate and state highways wherein advanced toll collection systems are installed at many locations. This factor is contributing significantly to the growth of market in this region. Similarly, Asia Pacific is also another major region for the global electronic toll collection market owing to an increasing rate of adoption of electronic toll collection systems in developing countries and the enactment of government regulations for the installation of electronic toll collection systems. Furthermore, the market in the Asia Pacific is growing at a rapid pace due to technological developments such as real-time tracking & monitoring of vehicles through GPS/GNSS and adoption of RFID sensors in various countries, such as Japan, China, and India, in this region.
Electronic Toll Collection Market, By Geography
· North America (US & Canada) · Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe) · Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific) · LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Some key developments and strategies adopted by manufacturers in Electronic Toll Collection are highlighted below.
· In August 2021, Karnataka Bank launched its “KBL FASTag”, a pre-loaded payment instrument to facilitate seamless movement of vehicles at the toll plazas across India, in association with NPCI (National Payment Corporation of India) and M/s Worldline, the FASTag processor.
Electronic Toll Collection Market, Key Players
· Cubic Transportation Systems, Inc. · Siemens AG · Conduent Incorporated · Thales Group · Toshiba Corporation · Kapsch Group · TransCore LP · Raytheon · Perceptics LLC · EFKON GmbH
Electronic Toll Collection Market Study Global Market Analysis, Insights and Forecast, 2020-2027
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Latest Technological Advancement
4.3. Regulatory Landscape
4.4. Industry SWOT Analysis
4.5. Porters Five Forces Analysis
5. Global Electronic Toll Collection Market Analysis (USD Billion), Insights and Forecast, 2020-2027
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Subsystem
5.2.1. Automated Vehicle Identification
5.2.2. Automated Vehicle Classification
5.2.3. Violation Enforcement System
5.2.4. Transaction Processing
5.3. Market Analysis, Insights and Forecast – By Technology
5.3.1. Radio-frequency Identification (RFID)
5.3.2. Dedicated Short-range communication (DSRC)
5.3.3. Infrared
5.3.4. GNSS & GPS
5.3.5. Video Analytics
5.4. Market Analysis, Insights and Forecast – By Application
5.4.1. Urban
5.4.2. Highways
5.5. Market Analysis, Insights and Forecast – By Region
5.5.1. North America
5.5.2. Europe
5.5.3. Asia Pacific
5.5.4. Latin America, Middle East and Africa
6. North America Electronic Toll Collection Market Analysis (USD Billion), Insights and Forecast, 2020-2027
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Subsystem
6.2.1. Automated Vehicle Identification
6.2.2. Automated Vehicle Classification
6.2.3. Violation Enforcement System
6.2.4. Transaction Processing
6.3. Market Analysis, Insights and Forecast – By Technology
6.3.1. Radio-frequency Identification (RFID)
6.3.2. Dedicated Short-range communication (DSRC)
6.3.3. Infrared
6.3.4. GNSS & GPS
6.3.5. Video Analytics
6.4. Market Analysis, Insights and Forecast – By Application
6.4.1. Urban
6.4.2. Highways
6.5. Market Analysis, Insights and Forecast – By Country
6.5.1. U.S.
6.5.2. Canada
7. Europe Electronic Toll Collection Market Analysis (USD Billion), Insights and Forecast, 2020-2027
7.1. Key Findings / Summary
7.2. Market Analysis, Insights and Forecast – By Subsystem
7.2.1. Automated Vehicle Identification
7.2.2. Automated Vehicle Classification
7.2.3. Violation Enforcement System
7.2.4. Transaction Processing
7.3. Market Analysis, Insights and Forecast – By Technology
7.3.1. Radio-frequency Identification (RFID)
7.3.2. Dedicated Short-range communication (DSRC)
7.3.3. Infrared
7.3.4. GNSS & GPS
7.3.5. Video Analytics
7.4. Market Analysis, Insights and Forecast – By Application
7.4.1. Urban
7.4.2. Highways
7.5. Market Analysis, Insights and Forecast – By Country
7.5.1. UK
7.5.2. Germany
7.5.3. France
7.5.4. Italy
7.5.5. Spain
7.5.6. Russia
7.5.7. Rest of Europe
8. Asia Pacific Electronic Toll Collection Market Analysis (USD Billion), Insights and Forecast, 2020-2027
8.1. Key Findings / Summary
8.2. Market Analysis, Insights and Forecast – By Subsystem
8.2.1. Automated Vehicle Identification
8.2.2. Automated Vehicle Classification
8.2.3. Violation Enforcement System
8.2.4. Transaction Processing
8.3. Market Analysis, Insights and Forecast – By Technology
8.3.1. Radio-frequency Identification (RFID)
8.3.2. Dedicated Short-range communication (DSRC)
8.3.3. Infrared
8.3.4. GNSS & GPS
8.3.5. Video Analytics
8.4. Market Analysis, Insights and Forecast – By Application
8.4.1. Urban
8.4.2. Highways
8.5. Market Analysis, Insights and Forecast – By Country
8.5.1. China
8.5.2. India
8.5.3. Japan
8.5.4. Australia
8.5.5. South East Asia
8.5.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Electronic Toll Collection Market Analysis (USD Billion), Insights and Forecast, 2020-2027
9.1. Key Findings / Summary
9.2. Market Analysis, Insights and Forecast – By Subsystem
9.2.1. Automated Vehicle Identification
9.2.2. Automated Vehicle Classification
9.2.3. Violation Enforcement System
9.2.4. Transaction Processing
9.3. Market Analysis, Insights and Forecast – By Technology
9.3.1. Radio-frequency Identification (RFID)
9.3.2. Dedicated Short-range communication (DSRC)
9.3.3. Infrared
9.3.4. GNSS & GPS
9.3.5. Video Analytics
9.4. Market Analysis, Insights and Forecast – By Application
9.4.1. Urban
9.4.2. Highways
9.5. Market Analysis, Insights and Forecast – By Country
9.5.1. Brazil
9.5.2. Saudi Arabia
9.5.3. UAE
9.5.4. Rest of LAMEA
10. Competitive Analysis
10.1. Company Market Share Analysis, 2018
10.2. Key Industry Developments
10.3. Company Profile
10.4. Cubic Transportation Systems, Inc.
10.4.1. Business Overview
10.4.2. Segment 1 & Service Offering
10.4.3. Overall Revenue
10.4.4. Geographic Presence
10.4.5. Recent Development
*Similar details will be provided for the following companies
10.5. Siemens AG
10.6. Conduent Incorporated
10.7. Thales Group
10.8. Toshiba Corporation
10.9. Kapsch Group
10.10. TransCore LP
10.11. Raytheon
10.12. Perceptics LLC
List of Figures
Figure 1: Global Electronic Toll Collection Market Revenue Breakdown (USD Billion, %) by Region, 2019 & 2027
Figure 2: Global Market Value Share (%), By Segment 1, 2019 & 2027
Figure 3: Global Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 4: Global Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 5: Global Market Value Share (%), By Segment 2, 2019 & 2027
Figure 6: Global Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 7: Global Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 8: Global Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 9: Global Electronic Toll Collection Market Forecast (USD Billion), by Others, 2016-2027
Figure 10: GlobalMarket Value Share (%), By Segment 3, 2019 & 2027
Figure 11: Global Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 12: Global Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 13: Global Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 14: Global Market Forecast (USD Billion), by Others, 2016-2027
Figure 15: Global Market Value (USD Billion), by Region, 2019 & 2027
Figure 16: North America Electronic Toll Collection Market Value Share (%), By Segment 1, 2019 & 2027
Figure 17: North America Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 18: North America Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 19: North America Market Value Share (%), By Segment 2, 2019 & 2027
Figure 20: North America Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 21: North America Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 22: North America Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 23: North America Market Forecast (USD Billion), by Others, 2016-2027
Figure 24: North America Market Value Share (%), By Segment 3, 2019 & 2027
Figure 25: North America Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 26: North America Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 27: North America Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 28: North America Market Forecast (USD Billion), by Others, 2016-2027
Figure 29: North America Market Forecast (USD Billion), by U.S., 2016-2027
Figure 30: North America Market Forecast (USD Billion), by Canada, 2016-2027
Figure 31: Latin America Electronic Toll Collection Market Value Share (%), By Segment 1, 2019 & 2027
Figure 32: Latin America Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 33: Latin America Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 34: Latin America Market Value Share (%), By Segment 2, 2019 & 2027
Figure 35: Latin America Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 36: Latin America Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 37: Latin America Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 38: Latin America Market Forecast (USD Billion), by Others, 2016-2027
Figure 39: Latin America Market Value Share (%), By Segment 3, 2019 & 2027
Figure 40: Latin America Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 41: Latin America Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 42: Latin America Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 43: Latin America Market Forecast (USD Billion), by Others, 2016-2027
Figure 44: Latin America Market Forecast (USD Billion), by Brazil, 2016-2027
Figure 45: Latin America Market Forecast (USD Billion), by Mexico, 2016-2027
Figure 46: Latin America Market Forecast (USD Billion), by Rest of Latin America, 2016-2027
Figure 47: Europe Electronic Toll Collection Market Value Share (%), By Segment 1, 2019 & 2027
Figure 48: Europe Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 49: Europe Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 50: Europe Market Value Share (%), By Segment 2, 2019 & 2027
Figure 51: Europe Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 52: Europe Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 53: Europe Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 54: Europe Market Forecast (USD Billion), by Others, 2016-2027
Figure 55: Europe Market Value Share (%), By Segment 3, 2019 & 2027
Figure 56: Europe Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 57: Europe Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 58: Europe Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 59: Europe Market Forecast (USD Billion), by Others, 2016-2027
Figure 60: Europe Market Forecast (USD Billion), by U.K., 2016-2027
Figure 61: Europe Market Forecast (USD Billion), by Germany, 2016-2027
Figure 62: Europe Market Forecast (USD Billion), by France, 2016-2027
Figure 63: Europe Market Forecast (USD Billion), by Italy, 2016-2027
Figure 64: Europe Market Forecast (USD Billion), by Spain, 2016-2027
Figure 65: Europe Market Forecast (USD Billion), by Russia, 2016-2027
Figure 66: Europe Market Forecast (USD Billion), by Rest of Europe, 2016-2027
Figure 67: Asia Pacific Electronic Toll Collection Market Value Share (%), By Segment 1, 2019 & 2027
Figure 68: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 69: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 70: Asia Pacific Market Value Share (%), By Segment 2, 2019 & 2027
Figure 71: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 72: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 73: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 74: Asia Pacific Market Forecast (USD Billion), by Others, 2016-2027
Figure 75: Asia Pacific Market Value Share (%), By Segment 3, 2019 & 2027
Figure 76: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 77: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 78: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 79: Asia Pacific Market Forecast (USD Billion), by Others, 2016-2027
Figure 80: Asia Pacific Market Forecast (USD Billion), by China, 2016-2027
Figure 81: Asia Pacific Market Forecast (USD Billion), by India, 2016-2027
Figure 82: Asia Pacific Market Forecast (USD Billion), by Japan, 2016-2027
Figure 83: Asia Pacific Market Forecast (USD Billion), by Australia, 2016-2027
Figure 84: Asia Pacific Market Forecast (USD Billion), by Southeast Asia, 2016-2027
Figure 85: Asia Pacific Market Forecast (USD Billion), by Rest of Asia Pacific, 2016-2027
Figure 86: Middle East & Africa Electronic Toll Collection Market Value Share (%), By Segment 1, 2019 & 2027
Figure 87: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 88: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 89: Middle East & Africa Market Value Share (%), By Segment 2, 2019 & 2027
Figure 90: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 91: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 92: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 93: Middle East & Africa Market Forecast (USD Billion), by Others, 2016-2027
Figure 94: Middle East & Africa Market Value Share (%), By Segment 3, 2019 & 2027
Figure 95: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 96: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 97: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 98: Middle East & Africa Market Forecast (USD Billion), by Others, 2016-2027
Figure 99: Middle East & Africa Market Forecast (USD Billion), by GCC, 2016-2027
Figure 100: Middle East & Africa Market Forecast (USD Billion), by South Africa, 2016-2027
Figure 101: Middle East & Africa Market Forecast (USD Billion), by Rest of Middle East & Africa, 2016-2027
List of Tables
Table 1: Global Electronic Toll Collection Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 2: Global Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 3: Global Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 4: Global Market Revenue (USD Billion) Forecast, by Region, 2016-2027
Table 5: North America Electronic Toll Collection Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 6: North America Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 7: North America Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 8: North America Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 9: Europe Electronic Toll Collection Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 10: Europe Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 11: Europe Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 12: Europe Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 13: Latin America Electronic Toll Collection Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 14: Latin America Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 15: Latin America Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 16: Latin America Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 17: Asia Pacific Electronic Toll Collection Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 18: Asia Pacific Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 19: Asia Pacific Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 20: Asia Pacific Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 21: Middle East & Africa Electronic Toll Collection Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 22: Middle East & Africa Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 23: Middle East & Africa Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 24: Middle East & Africa Market Revenue (USD Billion) Forecast, by Country, 2016-2027
