Explosive Surge in Global Electronic Toll Collection (ETC) Systems Market Fueled by Rising Demand for Efficient Traffic Management and Advancements in DSRC and GNSS Technologies

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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