US Electronic Toll Collection Market Set to Reach $15.20 Billion by 2030 with 8.3% CAGR

The electronic toll collection market is projected to reach $15.20 billion by 2030 with an 8.3% CAGR, driven by rising traffic congestion and the need for efficient toll management systems. Key growth drivers include Asia Pacific's rapid urbanization in China, India, Japan, and South Korea, while North America's highways will dominate the market, with ETC systems enhancing road safety and reducing emissions. Key players include Kapsch TrafficCom, Conduent, and Siemens.

Title: Electronic Toll Collection Market to Reach $15.20 Billion by 2030

The electronic toll collection (ETC) market is poised for significant growth, projected to reach USD 15.20 billion by 2030, according to a recent report [1]. This growth is driven by an 8.3% compound annual growth rate (CAGR), fueled by rising traffic congestion and the need for efficient toll management systems.

Key growth drivers include Asia Pacific's rapid urbanization in countries such as China, India, Japan, and South Korea. The region's surging infrastructure development, particularly of highways and cities, is pushing up the demand for ETC systems [1]. The presence of highly populated countries in the region, such as China and India, has led to the adoption of ETC systems to streamline tolling operations [1].

North America's highways are expected to dominate the market, with ETC systems enhancing road safety and reducing emissions. Systems like E-ZPass in the US are integral for managing tolls on congested highways, enhancing safety and efficiency by allowing vehicles to pass without stopping. These systems reduce vehicle emissions by 40-66% through minimized idling, aligning with North America's green transportation initiatives [1].

Key players in the ETC market include Kapsch TrafficCom AG, Conduent Incorporated, ST Engineering, Thales, Siemens, Cubic Corporation, EFKON GmbH, Neology, Inc., FEIG ELECTRONIC, and Q-Free [1]. These companies are leveraging advanced technologies such as RFID and DSRC to improve toll collection speeds and accuracy, thereby addressing the increasing demand for efficient toll management systems.

The report also highlights that the highways segment is expected to grow at a higher CAGR during the forecast period. Faster and efficient toll collection, reduced traffic congestion, and shorter travel times are the key reasons for the demand for ETC systems on highways [1]. Additionally, the other technologies segment, which includes systems like automatic number/license plate recognition (ANPR/ALPR), automatic vehicle classification (AVC), and weigh-in-motion (WIM) tolling, is anticipated to register the highest CAGR between 2025 and 2030. These systems improve vehicle identification and classification accuracy, making toll operations more reliable [1].

References:
[1] https://www.barchart.com/story/news/33391726/electronic-toll-collection-market-worth-15-20-billion-by-2030-at-a-cagr-of-8-3