The electronic tax collection market will reach $19.76 billion by 2032; Increase investment in transport infrastructure to drive growth

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Sharp glances

The electronic toll collection market size is projected to grow from $8.42 billion in 2022 to $19.76 billion in 10 years. The market is expected to witness a moderate growth rate due to the increasing demand for electronic toll collection in urban cities and highways. These technologies help with road safety and transport network optimization, in addition to managing traffic flow and reducing congestion.

Newark, June 10, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the electronic toll collection market will grow from $8.42 billion in 2022 to $19.76 billion by 2032. The electronic toll collection market is expanding due to increasing traffic in urban cities and highways. Fare management systems will become more important as transport infrastructure evolves to maintain road efficiency and safety.

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Key insights of the electronic toll collection market

North America region to account for the largest market size during the forecast period.

North America region will hold a significant share of the market due to increasing traffic volume in urban cities. The rapid implementation of advanced technology promotes the growth of electronic toll collection. Also, the US invests heavily in highway networks to increase connectivity between urban areas. Many states have installed electronic toll collection to decongest their highway networks.

The automatic vehicle classification system segment is expected to grow the market during the forecast period.

The type segment is divided into automatic vehicle identification system, automatic vehicle classification system, violation enforcement system and others. The automatic vehicle classification system segment is expected to grow the market during the forecast period. A unique approach to traffic management, toll surveillance and automatic vehicle classification systems results from continuous efforts to develop technologically driven structures that improve over time.

The DSRC segment is expected to grow the market during the forecast period.

The technology segment is divided into DSRC, RFID, GPS, GNSS and others. The DSRC segment is expected to grow the market during the forecast period. A wireless communication technique called dedicated short-range communication was created to enable vehicles within an intelligent transportation system to communicate with other vehicles or infrastructure equipment. DSRC technology operates at short to medium ranges and is based on the 5.9 GHz band of the radio frequency spectrum.

The highway segment is expected to grow the market during the forecast period.

The end user segment is divided into highway and urban areas. The highway segment is expected to grow the market during the forecast period. Important government initiatives can take advantage of ETC potential at toll booths and highways, which is expected to create huge development opportunities for road use from the electronic toll collection market.

The back office segment is expected to grow the market during the forecast period.

The offering segment is divided into hardware, back office and other services. The back office segment is expected to grow the market during the forecast period. A seamless, unified billing process is created through a single back office system. To guarantee reliability, the operational component connects the back office to the street side.

Scope and segmentation of the report –

Report coverage

The details

Forecast period

2023-2032

Forecast CAGR

8.91%

2032 Value Projection

19.76 billion dollars

Market size in 2022

8.42 billion dollars

Historical date

2019-2021

No. of Pages

238

Report coverage

Revenue forecast, company profiles, competitive landscape, growth factors and recent trends

Segments covered

by type, technology, end users

Regions covered

The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and the Middle East & Africa. Furthermore, the regions are further analyzed at the country level.

The growth drivers of the electronic toll collection market

Increasing the use of electronic toll collection on highways and roads

Market Dynamics

Leader: The growing establishment of fee management systems

The transportation system needs to be faster and more efficient due to population growth, urbanization, industrialization and pace of life. The development of toll roads has grown in step with the growth of road transport networks. Toll points are essential to maintain the efficiency and speed of road transport. The need for increased vehicular traffic and faster toll collection has led to new ideas where fully electronic, continuous, open road tolls are replacing manual toll booths. By collecting tolls electronically, toll collection technology has been created to eliminate delays on toll roads. This solution supports modern digital technologies that protect toll revenue. In metropolitan environments, where traffic congestion is a major problem, fare management systems are necessary. Toll management systems reduce automobile traffic by collecting tolls, which also improves air quality and eases traffic congestion.

Limitation: Implementation cost

The cost of building an ETC system is highly dependent on the scale of the project. System size, handle type, shoulder coverage and technology affect project cost. In an AET or ORT environment, the cost of equipment and lane installation, assuming the project reuses the existing port, back office software and right-of-way, ranges from $100,000 to $200,000 per ETC lane.

Opportunity: Advancement in technology development

In the previous ten to fifteen years, fee-related technologies have advanced rapidly. There are now fewer technical risks when deploying and implementing a national solution. In 1986, electronic toll collection technology was first implemented in Bergen, Norway, alongside conventional toll booths. Modern fee-related technologies can use mobile telecommunications networks, greatly simplifying operational procedures such as online account registration and top-ups. Fares are now collected automatically by fare management systems through various technological means. The use of connected automobiles is one of the biggest advances in fare management systems. Using connected cars and toll management systems, tolls can be collected automatically without transponders or cameras.

Challenges: Lack of interoperability

These days, choosing the right technology and ensuring compliance are the main challenges in implementing an electronic toll collection system. Interoperability between toll facilities at border points and other countries should be improved. As more toll roads are built near the border, the demand for interoperability between border checkpoints and toll roads will only increase. Thus, interoperability complications will affect the electronic toll collection market.

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Some of the main players operating in the e-receipt market are:

• TransCore
• Kapsch TrafficCom AG
• Conduent Inc.
• Raytheon Company
• Thales Group
• Cubic Corporation
• Siemens AG
• Vinci SA
• EFFECT
• TOSHIBA CORPORATION
• Neology Inc.
• MITSUBISHI HEAVY INDUSTRIES LTD
• Quarterhill Inc.
• Abertis
• Perceptics LLC
• Electronic Transaction Consultants Corporation
• Star Systems International
• ARH Inc.
• Autostrade per l’Italia
• SICE
• JENOPTIK AG
• Toll Collect GmbH
• Far East Electronic Toll Collection Co Ltd.
• The Kistler Group
• American Traffic Solutions

Main segments covered in the market:

By type:

• Automatic vehicle identification system
• Automatic vehicle classification system
• Offense Enforcement System
• Others

By technology:

• DSRC
• RFID
• GPS
• GNSS
• Others

From end users:

• Highway
• Urban areas

Offering:

• Hardware
• Back Office
• Other services

By region

• North America (USA, Canada, Mexico)
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)

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About the report:

The market is analyzed on the basis of value (Billion USD). All segments are analyzed on a global, regional and local basis. The study includes the analysis of more than 30 countries for each part. The report analyzes the driving factors, opportunities, restraints and challenges to gain a critical insight of the market. The study includes Porter’s five forces model, attractiveness analysis, product analysis, supply and demand analysis, competitive position network analysis, distribution and marketing channel analysis.

About The Brainy Insights:

The Brainy Insights is a market research company that aims to provide actionable insights through data analytics for companies to improve their business acumen. We have a powerful forecasting and estimation model to meet customer objectives for high quality production within a short period of time. We offer customized (customer specific) and syndicated reports. Our repository of syndicated reports is diverse across all categories and sub-categories across domains. Our customized solutions are tailored to meet the requirements of clients whether they are looking to expand or plan to launch a new product in the global market.

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