Electronic Toll Collection Market Size, Share & Analysis

The study involved four major activities in estimating the size of the electronic toll collection market. Exhaustive secondary research has been carried out to collect information on the market, the peer markets, and the parent market. Both top-down and bottom-up approaches have been employed to estimate the total market size. Market breakdown and data triangulation methods have also been used to estimate the market for segments and subsegments.

Secondary Research

Revenues of companies offering electronic toll collection systems have been obtained from the secondary data available through paid and unpaid sources. The revenues have also been derived by analyzing the product portfolio of key companies, and these companies have been rated according to the performance and quality of their products.

In the secondary research process, various sources have been referred to for identifying and collecting information for this study on the electronic toll collection market. Secondary sources considered for this research study include government sources, corporate filings, and trade, business, and professional associations. Secondary data has been collected and analyzed to arrive at the overall market size, which has been further validated through primary research.    

Secondary research has been mainly used to obtain key information about the supply chain of electronic toll collection systems to identify key players based on their products and prevailing industry trends in the electronic toll collection market by offering, type, panel size, location, vertical, and region. Secondary research also helped obtain market information- and technology-oriented key developments undertaken by market players to expand their presence and increase their market share.  

Primary Research

Extensive primary research has been conducted after understanding and analyzing the current scenario of the electronic toll collection market through secondary research. Several primary interviews have been conducted with the key opinion leaders from the demand and supply sides across four main regions—North America, Europe, Asia Pacific, and the Rest of Europe. Approximately 25% of the primary interviews were conducted with the demand-side respondents, while approximately 75% were conducted with the supply-side respondents. The primary data has been collected through questionnaires, emails, and telephone interviews.

After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primary. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report. The breakdown of primary respondents is as follows:

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The bottom-up procedure has been employed to arrive at the overall size of the electronic toll collection market.

• Identifying applications wherein electronic toll collection systems are deployed or are expected to use
• Analyzing major providers of electronic toll collections and original equipment manufacturers (OEMs), as well as studying their portfolios and understanding different technologies used
• Analyzing the average selling price of electronic toll collection systems powered by different technologies
• Arriving at the market estimates by analyzing the revenue of companies and then combining these figures to arrive at the market size
• Studying various paid and unpaid sources, such as annual reports, press releases, white papers, and databases, to gather the required information
• Tracking the ongoing developments and identifying the upcoming developments in the market that include investments, research and development activities, product launches, contracts, collaborations, and partnerships undertaken, and forecasting the market size based on these developments
• Carrying out multiple discussions with the key opinion leaders to understand the installation of electronic toll collection systems and the sales of related raw materials and products to analyze the break-up of the scope of work carried out by the key companies manufacturing panels
• Verifying and cross-checking the estimate at every level through discussions with key opinion leaders, such as chief executives (CXOs), directors, and operation managers, and finally with the domain experts in MarketsandMarkets.

The top-down approach has been used to estimate and validate the total size of the electronic toll collection market.

• Focusing on top-line investments and expenditures being made in the ecosystems of various applications
• Calculating the market size, considering revenues from major players through the cost of electronic toll collection systems
• Segmenting each application of the electronic toll collection system in each region and deriving the global market size based on the region
• Acquiring and analyzing information related to revenues generated by players through their crucial product offerings
• Conducting multiple on-field discussions with key opinion leaders involved in developing various electronic toll collection solutions
• Estimating the geographic split using secondary sources based on various factors, such as the number of players in a specific country and region and the types of components, levels of services offered, and types of software implemented

Data Triangulation

After arriving at the overall market size-using the market size estimation processes as explained above-the market has been split into several segments and subsegments. To complete the entire market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from the demand and supply sides in the electronic toll collection market.

Market Definition

The electronic toll collection (ETC) system automates the process of collecting tolls on roads, bridges, tunnels, etc. The system eliminates the need for drivers to stop and pay tolls manually by using cash or tokens, thereby reducing traffic congestion and improving the efficiency of toll collection.

In an ETC system, vehicles equipped with electronic transponders or tags are able to pass through toll booths or designated lanes without stopping. These transponders communicate with overhead gantries or roadside equipment, allowing tolls to be automatically deducted from a prepaid account linked to the transponder. Alternatively, some ETC systems utilize license plate recognition technology to identify vehicles and calculate the toll amount accordingly.

The benefits of an ETC system include reduced travel times, increased convenience for drivers, improved traffic flow, and lower operational costs for toll authorities. Additionally, ETC systems can support dynamic toll pricing strategies, where toll rates vary based on factors such as time of day, level of congestion, or vehicle type, helping to manage traffic demand more effectively. Overall, the ETC system plays a crucial role in modern transportation infrastructure by streamlining toll collection processes and enhancing the overall driving experience.

Key Stakeholders

• Original device manufacturers (ODMs)
• System integrators
• Software providers
• Raw material and manufacturing equipment suppliers
• Electronic toll collection system manufacturers
• Government departments such as municipal corporations, transport agencies, highway authorities, and road construction corporations
• Research organizations
• Technology standards organizations, forums, alliances, and associations
• End users
• Technical universities
• Government/private research institutes
• Market research and consulting firms

Report Objectives

• To describe and forecast the size of the electronic toll collection market, by type, technology, offering, application, and region, in terms of value
• To describe and forecast the market size of various segments across four key regions—North America, Europe, Asia Pacific, and Rest of the World (RoW), in terms of value
• To describe the payment methods through which the toll can be paid electronically
• To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the electronic toll collection market 
• To analyze the electronic toll collection value chain and ecosystem, along with the average selling price of electronic toll collection systems
• To strategically analyze the regulatory landscape, tariff, standards, patents, Porter’s five forces, import and export scenarios, trade values, and case studies pertaining to the market under study
• To strategically analyze micromarkets1 with regard to individual growth trends, prospects, and contributions to the overall market
• To analyze opportunities in the market for stakeholders by identifying high-growth segments
• To provide details of the competitive landscape for market leaders
• To analyze strategies such as joint ventures, product launches, contracts, collaborations, acquisitions, partnerships, and expansions adopted by players in the electronic toll collection market
• To profile key players in the electronic toll collection market and comprehensively analyze their market ranking based on their revenue, market share, and core competencies2  

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

• Detailed analysis and profiling of additional market players based on various blocks of the supply chain