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
Wednesday, July 26, 2023
DUBLIN, July 18, 2023 /PRNewswire/ -- The "Electronic Toll Collection (ETC) Systems: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
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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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