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.
Electronic Toll Collection Market Segment Overview
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 Subsystem
· Automated Vehicle Identification
· Automated Vehicle Classification
· Violation Enforcement System
· Transaction Processing
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)
Electronic Toll Collection Market Competitor overview
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
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
- 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
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
