DUBLIN, July 18, 2023 /PRNewswire/ — The “Electronic Toll Collection (ETC) Systems: Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Electronic Toll Collection (ETC) Systems estimated at US$9.2 Billion in the year 2022, is projected to reach a revised size of US$17.7 Billion by 2030, growing at a CAGR of 8.5% over the analysis period 2022-2030.
RFID, one of the segments analyzed in the report, is projected to record a 8.8% CAGR and reach US$12.1 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Dsrc segment is readjusted to a revised 8% CAGR for the next 8-year period.
The U.S. Market is Estimated at $3.2 Billion, While China is Forecast to Grow at 9.9% CAGR
The Electronic Toll Collection (ETC) Systems market in the U.S. is estimated at US$3.2 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$2.7 Billion by the year 2030 trailing a CAGR of 9.9% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7% and 7.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 8.4% CAGR.
Select Competitors (Total 77 Featured) –
- Abertis
- Sanef
- Atlantia S.p.A
- Conduent, Inc.
- Cubic Transportation Systems, Inc.
- DENSO Corporation
- Efkon Gmbh
- Far Eastern Electronic Toll Collection Co., Ltd. (FETC)
- G.E.A.
- GeoToll
- International Road Dynamics Inc.
- Kapsch Trafficcom AG
- Magnetic Autocontrol GmbH
- Neology, Inc.
- Perceptics LLC
- Q-Free ASA
- Siemens AG
- Star Systems International Ltd.
- Thales Group
- Toll Collect GmbH
- Toshiba Corporation
- TransCore
- TRMI Systems Integration
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- From Pandemic to War & Inflation: “Gloomy Outlook for 2023 Despite Signs of Easing Inflationary Conditions”
- Here’s How Inflationary Pressures Affect the Economy
- Russia-Ukraine War, the Primary Culprit Responsible for the Hardships
- Although Past Peak in 2023, Efforts to Solve the Inflation Puzzle Should Continue
- Here’s What’s Causing Inflationary Pressures in the Global Market
- Shaken by the War, Global Oil Prices Spiral and Feed Inflationary Pressures, Guiding the World Towards a Cost of Living Crisis: Global Average Annual Brent Crude Oil Price (In US$ Per Barrel) for Years 2017 through 2024
- War-Induced Commodity Price Increases & Broad Based Price Pressures Mark the Return of Global Inflation to the Highest Level Seen Since 1996: Global Inflation Rates (In %) for the Years 2019 Through 2024
- Although Facing a Lower Recession Risk, Global Economic Growth in 2023 to Slowdown Amid War, Inflation, Elevated Interest Rates & Marginal Easing of Inflation: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020 Through 2024
- Recession Triggered by Uncontrolled Inflation or Unemployment, Which is the Greater Evil? Inflation Battling Policy Measures to Slowdown Post Pandemic Recovery in Unemployment Rates: Global Number of Unemployed People (In Million) for Years 2019 Through 2024
- Impact of the COVID-19 Pandemic on the ETC Systems
- Competitive Scenario
- Electronic Toll Collection (ETC) Systems – Global Key Competitors Percentage Market Share in 2023 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- Select Innovations
- Road User Charging: The Only Sustainable Way to Fund Road Infrastructure Development
- Growing Investments in Construction of Roads and Highways Augurs Well for ETC Systems Market
- Growing Infrastructure Needs Drive Opportunities for ETC as Governments Focus on Bridging the Investment Gap through Tolling: Worldwide Cumulative Infrastructure Spending on Roads in US$ Billion by Region for the Period 2016-2040
- Road User Charging/Tolling Emerges as a Dual Edged Sword for Revenue Generation & Congestion Management
- Rising Economic Cost of Excess Travel/Transit Delays Strengthens the Business Case for Tolling to Manage Vehicular Congestion: Breakdown of Annual Hours of Delay Due to Traffic Congestions in Select Countries & Cities Worldwide
- ETC Emerges as a Key Enabling Technology for Tolling
- Need to Avoid Lengthy Waiting Lines & Environmental Pollution at Toll Plazas to Drive Demand for ETC Systems
- Global Market Prospects & Outlook
- Key Growth Drivers and Opportunities
- Analysis by Technology
- Analysis by Application
- Regional Analysis
- Asia-Pacific and Other Developing Countries to Drive Future Market Growth
- Government Initiatives
- Introduction to Road Infrastructure: Tolling and Toll Roads
- Electronic Toll Collection (ETC): A Prelude
- Classification Based on Lanes
- ETC System: OBU Classification
- ETC Toll Collection Process
- ETC: Implementation and Functional Challenges
- Key Benefits of ETC Systems
- Major Drawbacks
- Recent Market Activity
- Select Global Brands
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Growing Investments in Road Infrastructure Development
- Continuous Development of World’s Highways to Expand Market Opportunities for ITS & ETS Markets: Length of Road Networks (In 000 Kilometers) in Top 15 Countries Worldwide for the Year 2018
- Automated Electronic Toll Collection Makes its Way into the ITS Domain
- Electronic Toll Collection Systems: Switching On the Play Button for Smarter Tolling
- Automatic Tolling System: Select Trends
- Location-based Payment Systems: The Future-Forward Options for Toll Payment
- Hunger to Stem Revenue Leakage Leads to Evolution of All-Electronic Tolling
- All-Electronic Tolling: Rewards with Certain Gaps
- Advanced All-Electronic Tolling to Drive Revenue Collection Efficiency
- Upcoming All-Electronic Tolling Technology to Transform Toll Collection
- Lessening the Challenge of Interoperability Stands Out as a Key Driver of Growth
- Interest in Interoperability to Endure in Foreseeable Future of Electronic Tolling
- Moving Beyond Universal Transponder & Revenue Leakage
- Role of Collaborations & Vehicle Technology
- ETC Systems, as a Vital Cog in the ITS Wheel, to Benefit from the Growing Investments in ITS
- Growing Investments in Intelligent Transportation Systems (ITS) to Catalyze the Deployment of ETC Systems for Smart Infrastructure Funding & Intelligent Traffic Control: Global Revenues of ITS Market in US$ Million by Geographic Region for the Years 2021 and 2027
- Payment Innovations Heighten the Attractiveness of ETC Deployments
- Worldwide Smartphone Sales (in Million Units) by Geographic Region/Country for the Years 2018 & 2022
- Smartphone Adoption Worldwide by Region (in %): 2018 & 2025
- 5G to Widen the Role of Cellular Connectivity in ETC Ecosystem
- V2X-based Toll Payment
- ETC Systems Assist in Effective Traffic Management
- RFID: One of the Most Popular ETC Technologies
- RFID-Based ETC Systems Remain a Popular Choice as Evidenced by the Strong Preference for RFID Technology in Transportation Applications: Global RFID Technology Market Share Breakdown (in %) by End-Use Application (2023E)
- DSRC (Dedicated Short Range Communications), as a Superior Technology to RFID, Gains in Prominence
- As Satellite Technologies Emerge to the Forefront, New Generation, Multi-Constellation GNSS Hogs the Technology Limelight
- Growing Prowess & Maturity of GNSS as Evidenced by the Growing Value of its Technology Market Bodes Well for the Development of GNSS-Based ETC Systems: Percentage Breakdown of Global GNSS Market Revenues by Geographic Region (2023E)
- GNSS-based Tolling Storms into Limelight to Remove Physical Toll Booths
- India to Embrace GNSS-based Tolling System
- Video Tolling (ANPR): A Mature Technology
- Smart Cards in Demand for ETC Systems
- V2X Becomes Relevant in Electronic Toll Collection
- Innovation & Market Differentiation: Key Determinants for Success of ETC Projects
- Rapid Urbanization Triggers Growth in the ETC Market
- World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
- World Urban Population in Thousands: 1950-2050P
- Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 2000, 2020 & 2050
- Major Challenges to Growth: A Synopsized Review
- Low Adoption of Satellite-Based GPS Technologies- A Restraining Factor
- Issues Related to the Selection of Toll Technology
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/nvibde
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