Electronic Toll Collection Market by Technology (RFID and DSRC), Offering (Hardware and Back Office), Application (Highways and Urban Areas), Type (Transponders/Tag-Based Tolling Systems) and Region - Global Forecast to 2029

Electronic Toll Collection Market by Technology (RFID and DSRC), Offering (Hardware and Back Office), Application (Highways and Urban Areas), Type (Transponders/Tag-Based Tolling Systems) and Region - Global Forecast to 2029

The global electronic toll collection market was valued at USD 10.1 billion in 2024 and is projected to reach USD 14.7 billion by 2029; it is expected to register a CAGR of 7.9% during the forecast period. Technological advancements in transportation infrastructure is driving the growth of the electronic toll collection market. Whereas overreliance of ETC on technology and susceptibility to technical failure is restraining the growth of the electronic toll collection market.

“The RFID segment is expected to grow at the second higher CAGR during the forecast period.”

The RFID segment is expected to grow at a second higher CAGR of 8.0% during the forecast period. RFID technology utilizes radio-frequency electromagnetic fields to identify objects that carry RFID tags. This technology is used for electronic identification, tracking, and storing information on a tag. Two-way radio transmitters/receivers, also called interrogators or readers, send a signal to the tag and read its response. RFID readers scan the tag and send the information to the database for storage. RFID is a prominent electronic toll collection technology due to its low operational cost. RFID's ability to support interoperability fosters seamless toll transactions across various toll booths and regions, contributing to user convenience. The integration of RFID systems with backend operations allows for real-time monitoring and efficient data management, providing insights into traffic patterns and revenue collection.

The hardware offering segment is likely to grow at the second higher CAGR during the forecast period

The hardware segment is expected to grow at a CAGR of 7.0% during the forecast period. Electronic Toll collection (ETC) hardware systems have shown to increase revenue collection by reducing leakage and improving accuracy in toll transactions. This makes them an attractive option for toll operators and government agencies looking to maximize toll revenue. The support and mandates from government authorities to implement ETC systems can significantly boost their adoption. Governments may also promote the use of electronic toll collection to improve overall transportation efficiency and reduce traffic congestion.

“The RoW segment is likely to grow at the second highest CAGR during the forecast period.”

The market in RoW is expected to witness the second highest CAGR of 8.0% during the forecast period. Many countries in the Middle East and Africa are investing heavily in infrastructure development, including the construction and maintenance of roads and highways. Toll collection systems provide a means to generate revenue for these projects while ensuring their proper upkeep. Governments in the Middle East and Africa are implementing initiatives to modernize transportation systems. Regulatory support and mandates for the adoption of electronic toll collection can further drive the growth of these systems

Breakdown of primaries

The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:

By Company Type - Tier 1 – 35%, Tier 2 – 45%, Tier 3 – 20%

By Designation— C-level Executives - 40%, Directors - 30%, Others - 30%

By Region—North America - 40%, Europe - 30%, Asia Pacific - 20%, RoW - 10%

The electronic toll collection market is dominated by a few globally established players such as Kapsch TrafficCom AG (Austria); Conduent, Inc. (US); TransCore (US); Thales (France); Cubic Corporation (US); Infineon Technologies AG (Germany); Siemens (Germany); EFKON GmbH (Austria); Neology, Inc. (US); FEIG ELECTRONIC (Germany). The study includes an in-depth competitive analysis of these key players in the electronic toll collection market, with their company profiles, recent developments, and key market strategies.

Research Coverage:

The report segments the electronic toll collection market and forecasts its size by offering, type, panel size, location, vertical, and region. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main regions—North America, Europe, Asia Pacific, and RoW. Supply chain analysis has been included in the report, along with the key players and their competitive analysis in the electronic toll collection ecosystem.

Key Benefits to Buy the Report:

Analysis of key drivers (Urgent need to mitigate traffic congestion and reduce road accidents, Strong government support through funding and investment in deployment of advanced tolling solutions). Restraint (Overreliance of ETC on technology and susceptibility to technical failure, ETC implementation constraints in developing countries), Opportunity (Significant focus on minimizing fuel consumption and emissions for economic and environmental gains, Integration of blockchain technology into toll collection systems), Challenges (Data privacy concerns, Interoperability issues associated with tolling systems)

Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the electronic toll collection market.

Market Development: Comprehensive information about lucrative markets – the report analyses the electronic toll collection market across varied regions

Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the electronic toll collection market.

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Kapsch TrafficCom AG (Austria); Conduent, Inc. (US); TransCore (US); Thales (France); Cubic Corporation (US); Infineon Technologies AG (Germany); Siemens (Germany); EFKON GmbH (Austria); Neology, Inc. (US); FEIG ELECTRONIC (Germany)) among others in the electronic toll collection market.