Report Code: CMI29068

Published Date: August 2023

Pages: 220+

Category: Automotive

Report Snapshot

CAGR: 10.2%
12.3B
2022
14.3B
2023
32.7B
2032

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Kapsch TrafficCom AG
  • Conduent Incorporated
  • Thales Group
  • Siemens Mobility GmbH
  • Others

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Reports Description

As per the current market research conducted by the CMI Team, the global Automotive Electronic Toll Collection Market is expected to record a CAGR of 10.2% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 12.3 billion. By 2032, the valuation is anticipated to reach USD 32.7 billion.

Automotive Electronic Toll Collection Market Specifications

Specification Description
Transponder frequency The frequency that the transponders use to communicate with the ETC system. Typically, ETC systems use a 5.8 GHz frequency.
Transponder range The distance that the transponders can communicate with the ETC system. Typically, ETC transponders have a range of up to 100 feet.
Toll collection rate The rate at which tolls are collected from vehicles. Typically, tolls are collected at a rate of $0.05 per mile.
Toll payment methods The methods that vehicles can use to pay tolls, such as cash, credit cards, or debit cards. ETC systems typically support cashless payment methods, such as credit cards and debit cards.
Security features The security features that are used to protect ETC systems from fraud. Typically, ETC systems use encryption and authentication to protect the data that is transmitted between the transponders and the ETC system.
Source: According to CMI Market Research Team Analysis

The Automotive Electronic Toll Collection Market pertains to the industry segment focused on implementing electronic systems for seamless and automated toll payment collection in roadways. Its nature involves the integration of advanced technologies such as RFID, GPS, and data analytics to streamline toll collection processes, reduce traffic congestion, and enhance user experience.

Current trends encompass contactless payment methods, interoperability among different toll networks, integration with smart city initiatives, and the adoption of sustainable and efficient transportation solutions.

Automotive Electronic Toll Collection Market – Significant Growth Factors

The Automotive Electronic Toll Collection Market presents significant growth opportunities due to several factors:

  • Government Mandates and Modernization: Government initiatives mandating electronic tolling systems to modernize transportation infrastructure, reduce congestion, and enhance revenue collection drive the adoption of efficient ETC systems.
  • Efficiency and Time Savings: ETC systems offer quick and seamless toll payment experiences, significantly reducing traffic congestion, minimizing travel time for commuters, and improving overall road network efficiency.
  • Technological Advancements: Constant advancements in technology enable features like real-time tolling, dynamic pricing, and interoperability among various toll systems, enhancing user convenience and encouraging the widespread adoption of ETC solutions.
  • Environmental Awareness: ETC systems contribute to eco-friendly transportation by minimizing vehicle idling time and fuel consumption, aligning with environmental sustainability goals, reducing emissions, and positively impacting the ecosystem.
  • Global Market Expansion: As more regions adopt ETC systems to address traffic management and revenue collection, providers can seize opportunities for global expansion through strategic partnerships, technology sharing, and catering to diverse regional requirements.
  • Integration with Connected Vehicles: The rise of connected vehicles offers an opportunity to seamlessly integrate ETC systems with vehicle networks, allowing toll payment through vehicle connectivity, enhancing user convenience, and fostering an integrated transportation ecosystem.

Automotive Electronic Toll Collection Market – Mergers and Acquisitions

The Automotive Electronic Toll Collection Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the Automotive Electronic Toll Collection Market include:

  • Kapsch TrafficCom (KTC) and Microsec Ltd.: In 2022, Kapsch TrafficCom (KTC) collaborate with Microsec Ltd., The partnership is geared towards delivering industry-leading secure digital services for the global transportation market. Its goal is to improve safety, reduce congestion and related emissions, and support the advancement of automated vehicles. The collaboration focuses on comprehensive, modular, and secure connected corridor solutions to deliver trusted, reliable, and authenticated digital services.
  • Thales Group Acquires Gemalto: In 2019, Thales Group acquired Gemalto, integrating Gemalto’s expertise in digital security and identity with Thales’ capabilities in ETC systems to offer secure and integrated solutions. This acquisition increases Thales’s revenues to €19 billion and self-funded R&D to €1 billion a year, with 80,000 employees in 68 countries.
  • Cubic Transportation Systems Expands Partnership with New England Traffic Solutions: In 2022, ITS World Congress 2022, Cubic Transportation Systems (Cubic) announced its expanded partnership with longstanding customer New England Traffic Solutions (NETS), a provider of advanced technologies enabling the safe, dynamic movement of pedestrian and vehicular traffic.
  • Thales Group Acquire S21sec and Excellium: In 2022, Thales (Euronext Paris: HO), a globally recognized player in advanced technologies and cybersecurity, has completed the acquisition of two European cybersecurity companies, S21sec (in Spain and Portugal) and Excellium (in Belgium and Luxembourg).

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the Automotive Electronic Toll Collection Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Automotive Electronic Toll Collection Market Powertrain Machinery Market Automotive E/E Architecture Market
CAGR 10.2% (Approx) CAGR 7.1% (Approx) CAGR 8.4% (Approx)
USD 32.7 Billion by 2032 USD 287.3 Billion by 2032 USD 76.9 Billion by 2032

Automotive Electronic Toll Collection Market – Significant Threats

The Automotive Electronic Toll Collection Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

  • Privacy and Data Security Concerns: The collection of sensitive user data, such as vehicle movement patterns and payment information, raises privacy and data security concerns, potentially deterring individuals from adopting ETC systems due to fears of data breaches or misuse.
  • Technological Vulnerabilities: As ETC systems rely heavily on technology, they are susceptible to cyberattacks, hacking, and system malfunctions. A breach in security or a technical glitch could disrupt toll collection processes and undermine user trust.
  • Resistance to Change: Some individuals may be resistant to adopting new technologies and may prefer traditional toll payment methods. This resistance to change could slow down the adoption rate of ETC systems, particularly among certain demographics.
  • Cost of Implementation: The initial investment required to install and maintain ETC infrastructure can be substantial. Some regions or toll authorities might hesitate to incur these costs, especially if they are unsure about the long-term benefits or return on investment.
  • Lack of Interoperability: In regions where different toll authorities operate independently with varying ETC systems, the lack of interoperability can lead to inconvenience for users who need to manage multiple accounts and devices, potentially discouraging the widespread adoption of ETC systems.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 14.3 Billion
Projected Market Size in 2032 USD 32.7 Billion
Market Size in 2022 USD 12.3 Billion
CAGR Growth Rate 10.2% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Sub System, Technology, Application and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Category-Wise Insights

By Sub System:

  • Automated Vehicle Identification: This subtype within the Automotive Electronic Toll Collection Market involves the automated identification of vehicles through advanced technologies like RFID tags or license plate recognition. This enables the seamless and contactless payment of tolls, eliminating the need for manual intervention and expediting the toll collection process.
  • Automated Vehicle Classification: In the realm of ETC systems, automated vehicle classification stands as a pivotal subtype. These systems employ advanced sensors and technologies to categorize vehicles based on factors such as size or weight. This dynamic categorization allows for the implementation of dynamic toll pricing, where toll rates are adjusted according to the specific type of vehicle.
  • Violation Enforcement System: These systems play a crucial role in ensuring adherence to toll payment regulations. By capturing instances of vehicles without valid toll payments, these automated systems enhance revenue collection by deterring toll evasion. Through the integration of cutting-edge technology and real-time monitoring, these systems bolster the effectiveness of toll enforcement mechanisms.
  • Transaction Processing: Within the ETC landscape, the transaction processing subtype stands as a cornerstone of modern toll collection methods. ETC systems streamline toll payments by facilitating electronic transactions. This reduction in cash transactions not only enhances overall efficiency but also fosters convenient user experiences.

Global Automotive Electronic Toll Collection Market 2023–2032 (By Billion)

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By Technology

  • Radio-frequency Identification (RFID): RFID technology uses radio waves to identify and track vehicles with attached transponders. In the ETC market, RFID systems enable contactless toll payment, offering convenience and efficiency.
  • Dedicated Short-range Communication (DSRC): DSRC utilizes short-range wireless communication for vehicle-to-infrastructure interactions. ETC systems using DSRC allow vehicles to communicate with toll equipment, facilitating smooth and rapid toll collection.
  • Infrared: Infrared technology uses light signals for vehicle detection. Although less common, it offers accurate tolling by detecting vehicles passing through toll booths based on infrared sensor responses.
  • GNSS & GPS: Global Navigation Satellite Systems (GNSS) and Global Positioning Systems (GPS) aid in accurate vehicle location. ETC systems integrate these technologies for seamless toll collection, even in complex road networks.
  • Video Analytics: Video analytics use cameras and image processing to identify vehicles. This emerging technology contributes to automatic vehicle identification and efficient tolling, enhancing the accuracy and speed of toll collection.

By Application

  • Urban Application: In urban areas, the Automotive Electronic Toll Collection (ETC) system is used to manage congestion and improve traffic flow within cities. ETC systems integrate with smart city initiatives, offering contactless payment options and real-time data analytics to optimize urban transportation networks.
  • Highways Application: On highways, ETC systems streamline toll collection, reducing congestion at toll booths and enhancing long-distance travel efficiency. Trends include dynamic pricing based on traffic density and the integration of ETC systems with connected vehicle networks for seamless toll payment experiences.

Global Automotive Electronic Toll Collection Market 2023–2032 (By Application)

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Automotive Electronic Toll Collection Market – Regional Analysis

The Automotive Electronic Toll Collection Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

  • North America: In North America’s Automotive Electronic Toll Collection Market, the trend focuses on interoperability. Efforts are being made to integrate ETC systems across different tolling authorities and states, allowing travellers to use a single transponder or account for seamless cross-region toll payments.
  • Europe: Europe’s ETC Market trend centres around cross-border interoperability. The region is working on harmonizing ETC systems across countries to enable travellers to navigate various toll networks without switching accounts or devices, enhancing user convenience and promoting cross-country mobility.
  • Asia-Pacific: In the Asia-Pacific ETC Market, a prominent trend is the integration of ETC systems with emerging smart city initiatives. ETC solutions are aligned with the region’s rapid urbanization, providing contactless payment methods and real-time traffic data to optimize urban transportation and alleviate congestion.
  • LAMEA (Latin America, Middle East, and Africa): LAMEA’s ETC Market trend is shaped by the expansion of tolling infrastructure on highways. With increasing investments in road networks, ETC systems are being deployed to enhance toll collection efficiency, reduce congestion, and improve the overall highway travel experience in the region.

Global Automotive Electronic Toll Collection Market 2023–2032 (By Sub System)

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Competitive Landscape – Automotive Electronic Toll Collection Market

The Automotive Electronic Toll Collection Market is highly competitive, with a large number of manufacturers and retailers operating globally. Some of the key players in the market include:

  • Kapsch TrafficCom AG
  • Conduent Incorporated
  • Thales Group
  • Siemens Mobility GmbH
  • Cubic Transportation Systems Inc.
  • Q-Free ASA
  • TransCore Holdings Inc.
  • Efkon AG
  • Raytheon Technologies Corporation
  • FERROVIAL S.A.
  • Others

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

Emerging players like Tollsmart and Tollscape have embraced innovation to enter the Automotive Electronic Toll Collection Market. Tollsmart offers app-based toll payment solutions, while Tollscape focuses on cloud-based ETC integration, disrupting traditional approaches and attracting tech-savvy consumers.

Established leaders such as Kapsch TrafficCom AG and Conduent Incorporated dominate the market. With extensive experience and technological prowess, they provide comprehensive ETC solutions, including interoperability and real-time data analytics.

Their strong market presence, strategic partnerships, and continuous technological advancements solidify their dominance in catering to diverse consumer and regional demands.

The Automotive Electronic Toll Collection Market is segmented as follows:

By Sub System

  • Automated Vehicle Identification
  • Automated Vehicle Classification
  • Violation Enforcement System
  • Transaction Processing

By Technology

  • Radio-frequency Identification (RFID)
  • Dedicated Short-range Communication (DSRC)
  • Infrared
  • GNSS & GPS
  • Video Analytics

By Application

  • Urban
  • Highways

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Automotive Electronic Toll Collection Market, (2024 – 2033) (USD Billion)
    • 2.2 Global Automotive Electronic Toll Collection Market : snapshot
  • Chapter 3. Global Automotive Electronic Toll Collection Market – Industry Analysis
    • 3.1 Automotive Electronic Toll Collection Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Government Mandates and Modernization
      • 3.2.2 Efficiency and Time Savings
      • 3.2.3 Technological Advancements
      • 3.2.4 Environmental Awareness
      • 3.2.5 Global Market Expansion
      • 3.2.6 Integration with Connected Vehicles.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Sub System
      • 3.7.2 Market Attractiveness Analysis By Technology
      • 3.7.3 Market Attractiveness Analysis By Application
  • Chapter 4. Global Automotive Electronic Toll Collection Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Automotive Electronic Toll Collection Market: Company Market Share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaboration, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Automotive Electronic Toll Collection Market – Sub System Analysis
    • 5.1 Global Automotive Electronic Toll Collection Market Overview: By Sub System
      • 5.1.1 Global Automotive Electronic Toll Collection Market Share, By Sub System, 2022 and – 2033
    • 5.2 Automated Vehicle Identification
      • 5.2.1 Global Automotive Electronic Toll Collection Market by Automated Vehicle Identification, 2024 – 2033 (USD Billion)
    • 5.3 Automated Vehicle Classification
      • 5.3.1 Global Automotive Electronic Toll Collection Market by Automated Vehicle Classification, 2024 – 2033 (USD Billion)
    • 5.4 Violation Enforcement System
      • 5.4.1 Global Automotive Electronic Toll Collection Market by Violation Enforcement System, 2024 – 2033 (USD Billion)
    • 5.5 Transaction Processing
      • 5.5.1 Global Automotive Electronic Toll Collection Market by Transaction Processing, 2024 – 2033 (USD Billion)
  • Chapter 6. Global Automotive Electronic Toll Collection Market – Technology Analysis
    • 6.1 Global Automotive Electronic Toll Collection Market overview: By Technology
      • 6.1.1 Global Automotive Electronic Toll Collection Market share, By Technology, 2022 and – 2033
    • 6.2 Radio-frequency Identification (RFID)
      • 6.2.1 Global Automotive Electronic Toll Collection Market by Radio-frequency Identification (RFID), 2024 – 2033 (USD Billion)
    • 6.3 Dedicated Short-range Communication (DSRC)
      • 6.3.1 Global Automotive Electronic Toll Collection Market by Dedicated Short-range Communication (DSRC), 2024 – 2033 (USD Billion)
    • 6.4 Infrared
      • 6.4.1 Global Automotive Electronic Toll Collection Market by Infrared, 2024 – 2033 (USD Billion)
    • 6.5 GNSS & GPS
      • 6.5.1 Global Automotive Electronic Toll Collection Market by GNSS & GPS, 2024 – 2033 (USD Billion)
    • 6.6 Video Analytics
      • 6.6.1 Global Automotive Electronic Toll Collection Market by Video Analytics, 2024 – 2033 (USD Billion)
  • Chapter 7. Global Automotive Electronic Toll Collection Market – Application Analysis
    • 7.1 Global Automotive Electronic Toll Collection Market overview: By Application
      • 7.1.1 Global Automotive Electronic Toll Collection Market share, By Application, 2022 and – 2033
    • 7.2 Urban
      • 7.2.1 Global Automotive Electronic Toll Collection Market by Urban, 2024 – 2033 (USD Billion)
    • 7.3 Highways
      • 7.3.1 Global Automotive Electronic Toll Collection Market by Highways, 2024 – 2033 (USD Billion)
  • Chapter 8. Automotive Electronic Toll Collection (ETC) Market – Regional Analysis
    • 8.1 Global Automotive Electronic Toll Collection (ETC) Market Regional Overview
    • 8.2 Global Automotive Electronic Toll Collection (ETC) Market Share, by Region, 2022 & – 2033 (USD Billion)
    • 8.3. North America
      • 8.3.1 North America Automotive Electronic Toll Collection (ETC) Market, 2024 – 2033 (USD Billion)
        • 8.3.1.1 North America Automotive Electronic Toll Collection (ETC) Market, by Country, 2024 – 2033 (USD Billion)
    • 8.4 North America Automotive Electronic Toll Collection (ETC) Market, by Sub System, 2024 – 2033
      • 8.4.1 North America Automotive Electronic Toll Collection (ETC) Market, by Sub System, 2024 – 2033 (USD Billion)
    • 8.5 North America Automotive Electronic Toll Collection (ETC) Market, by Technology, 2024 – 2033
      • 8.5.1 North America Automotive Electronic Toll Collection (ETC) Market, by Technology, 2024 – 2033 (USD Billion)
    • 8.6 North America Automotive Electronic Toll Collection (ETC) Market, by Application, 2024 – 2033
      • 8.6.1 North America Automotive Electronic Toll Collection (ETC) Market, by Application, 2024 – 2033 (USD Billion)
    • 8.7. Europe
      • 8.7.1 Europe Automotive Electronic Toll Collection (ETC) Market, 2024 – 2033 (USD Billion)
        • 8.7.1.1 Europe Automotive Electronic Toll Collection (ETC) Market, by Country, 2024 – 2033 (USD Billion)
    • 8.8 Europe Automotive Electronic Toll Collection (ETC) Market, by Sub System, 2024 – 2033
      • 8.8.1 Europe Automotive Electronic Toll Collection (ETC) Market, by Sub System, 2024 – 2033 (USD Billion)
    • 8.9 Europe Automotive Electronic Toll Collection (ETC) Market, by Technology, 2024 – 2033
      • 8.9.1 Europe Automotive Electronic Toll Collection (ETC) Market, by Technology, 2024 – 2033 (USD Billion)
    • 8.10 Europe Automotive Electronic Toll Collection (ETC) Market, by Application, 2024 – 2033
      • 8.10.1 Europe Automotive Electronic Toll Collection (ETC) Market, by Application, 2024 – 2033 (USD Billion)
    • 8.11. Asia Pacific
      • 8.11.1 Asia Pacific Automotive Electronic Toll Collection (ETC) Market, 2024 – 2033 (USD Billion)
        • 8.11.1.1 Asia Pacific Automotive Electronic Toll Collection (ETC) Market, by Country, 2024 – 2033 (USD Billion)
    • 8.12 Asia Pacific Automotive Electronic Toll Collection (ETC) Market, by Sub System, 2024 – 2033
      • 8.12.1 Asia Pacific Automotive Electronic Toll Collection (ETC) Market, by Sub System, 2024 – 2033 (USD Billion)
    • 8.13 Asia Pacific Automotive Electronic Toll Collection (ETC) Market, by Technology, 2024 – 2033
      • 8.13.1 Asia Pacific Automotive Electronic Toll Collection (ETC) Market, by Technology, 2024 – 2033 (USD Billion)
    • 8.14 Asia Pacific Automotive Electronic Toll Collection (ETC) Market, by Application, 2024 – 2033
      • 8.14.1 Asia Pacific Automotive Electronic Toll Collection (ETC) Market, by Application, 2024 – 2033 (USD Billion)
    • 8.15. Latin America
      • 8.15.1 Latin America Automotive Electronic Toll Collection (ETC) Market, 2024 – 2033 (USD Billion)
        • 8.15.1.1 Latin America Automotive Electronic Toll Collection (ETC) Market, by Country, 2024 – 2033 (USD Billion)
    • 8.16 Latin America Automotive Electronic Toll Collection (ETC) Market, by Sub System, 2024 – 2033
      • 8.16.1 Latin America Automotive Electronic Toll Collection (ETC) Market, by Sub System, 2024 – 2033 (USD Billion)
    • 8.17 Latin America Automotive Electronic Toll Collection (ETC) Market, by Technology, 2024 – 2033
      • 8.17.1 Latin America Automotive Electronic Toll Collection (ETC) Market, by Technology, 2024 – 2033 (USD Billion)
    • 8.18 Latin America Automotive Electronic Toll Collection (ETC) Market, by Application, 2024 – 2033
      • 8.18.1 Latin America Automotive Electronic Toll Collection (ETC) Market, by Application, 2024 – 2033 (USD Billion)
    • 8.19. The Middle-East and Africa
      • 8.19.1 The Middle-East and Africa Automotive Electronic Toll Collection (ETC) Market, 2024 – 2033 (USD Billion)
        • 8.19.1.1 The Middle-East and Africa Automotive Electronic Toll Collection (ETC) Market, by Country, 2024 – 2033 (USD Billion)
    • 8.20 The Middle-East and Africa Automotive Electronic Toll Collection (ETC) Market, by Sub System, 2024 – 2033
      • 8.20.1 The Middle-East and Africa Automotive Electronic Toll Collection (ETC) Market, by Sub System, 2024 – 2033 (USD Billion)
    • 8.21 The Middle-East and Africa Automotive Electronic Toll Collection (ETC) Market, by Technology, 2024 – 2033
      • 8.21.1 The Middle-East and Africa Automotive Electronic Toll Collection (ETC) Market, by Technology, 2024 – 2033 (USD Billion)
    • 8.22 The Middle-East and Africa Automotive Electronic Toll Collection (ETC) Market, by Application, 2024 – 2033
      • 8.22.1 The Middle-East and Africa Automotive Electronic Toll Collection (ETC) Market, by Application, 2024 – 2033 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1 Kapsch TrafficCom AG
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 Conduent Incorporated
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 Thales Group
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 Siemens Mobility GmbH
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 Cubic Transportation Systems Inc.
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 Q-Free ASA
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 TransCore Holdings Inc.
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 Efkon AG
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 Raytheon Technologies Corporation
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
    • 9.10 FERROVIAL S.A.
      • 9.10.1 Overview
      • 9.10.2 Financials
      • 9.10.3 Product Portfolio
      • 9.10.4 Business Strategy
      • 9.10.5 Recent Developments
    • 9.11 Others.
      • 9.11.1 Overview
      • 9.11.2 Financials
      • 9.11.3 Product Portfolio
      • 9.11.4 Business Strategy
      • 9.11.5 Recent Developments
List Of Figures

Figures No 1 to 27

List Of Tables

Tables No 1 to 77

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • Kapsch TrafficCom AG
  • Conduent Incorporated
  • Thales Group
  • Siemens Mobility GmbH
  • Cubic Transportation Systems Inc.
  • Q-Free ASA
  • TransCore Holdings Inc.
  • Efkon AG
  • Raytheon Technologies Corporation
  • FERROVIAL S.A.
  • Others

FAQs

The key factors driving the Market are Government Mandates and Modernization, Efficiency and Time Savings, Technological Advancements, Environmental Awareness, Global Market Expansion And Integration with Connected Vehicles.

The “Sub System” category dominated the market in 2022.

The key players in the market are Kapsch TrafficCom AG, Conduent Incorporated, Thales Group, Siemens Mobility GmbH, Cubic Transportation Systems Inc., Q-Free ASA, TransCore Holdings Inc., Efkon AG, Raytheon Technologies Corporation, FERROVIAL S.A., Others.

“Europe” had the largest share in the Automotive Electronic Toll Collection (ETC) Market.

The global market is projected to grow at a CAGR of 10.2% during the forecast period, 2023-2032.

The Automotive Electronic Toll Collection (ETC) Market size was valued at USD 12.3 Billion in 2022.

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