At 13.6% CAGR, North America Electronic Toll Collection System Market is Projected to be Worth US$ 5,417.54 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the North America electronic toll collection system market was valued at US$ 1,956.36 million in 2022 and is expected to reach US$ 5,417.54 million by 2030, registering a CAGR of 13.6% from 2022 to 2030. Satellite-based GPS/GNSS systems and deployment of blockchain technology are among the critical factors attributed to the North America electronic toll collection system market expansion.

The commercialization of global positioning systems (GPS or GNSS) has substantially broadened its scope of application in various daily activities. For instance, GPS systems installed onboard vehicles could also be utilized for toll collection purposes, thereby eliminating the need for any tolling infrastructure or system requirements. Low cost per transaction, maintainability, accessibility to web-based accounts, and no infrastructure required for integration of new routes are among other benefits of using GPS-based toll collection systems. In addition, market players are constantly making efforts to implement a satellite-based framework for the toll collection system successfully. For instance, Emovis, a Barcelona-based global provider of smart mobility solutions, provides solutions in Paris, New York, Dublin, Canada, Croatia, the UK, Qatar, and Puerto Rico. In April 2023, Emovis developed a satellite distance-based fee (DBF) solution to promote intelligent, connected mobility and expand the use of shared transport and active travel. The development of this solution with industrial partner IMMENSE aims to introduce innovative strategies for traffic management in cities to discourage and reduce the use of private vehicles and promote sustainable transport. The company announced its plan to test satellite distance-based fee (DBF) solutions in an urban environment, building on a great experience in this type of solution from Road Usage Charging programs in Washington, Oregon, Utah, and Virginia (US). This satellite tolling framework is a system that allows drivers to pay for the use of the road network with a precise calculation of the kilometers driven.

On the flip side, leakage and high CapEx and OpEx costs hamper the growth of North America electronic toll collection system market.

Based on offering, the North America electronic toll collection system market is bifurcated into systems and services. The systems segment held 73.2% market share in 2022, amassing US$ 1,432.66 million. It is projected to garner US$ 4,099.78 million by 2030 to expand at 14.0% CAGR during 2022-2030.

In terms of technology, the North America electronic toll collection system market is categorized into RFID, DSRC, ANPR, GNSS, and others. The RFID segment held 79.4% market share in 2022, amassing US$ 1,554.08 million. It is projected to garner US$ 4,329.13 million by 2030 to expand at 13.7% CAGR during 2022-2030.

By application, the North America electronic toll collection system market is bifurcated into highways and urban zones. The highways segment held 80.0% market share in 2022, amassing US$ 1,564.83 million. It is projected to garner US$ 4,399.03 million by 2030 to expand at 13.8% CAGR during 2022-2030.

Based on country, the North America electronic toll collection system market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 80.7% share of North America electronic toll collection system market in 2022. It was assessed at US$ 1,578.97 million in 2022 and is likely to hit US$ 4,428.11 million by 2030, exhibiting a CAGR of 13.8% during 2022-2030.

Key players operating in the North America electronic toll collection system market are Conduent Inc, Kapsch TrafficCom AG, Thales SA, Toshiba Infrastructure Systems and Solutions Corp, TransCore LP, Magnetic Autocontrol GmbH, The Revenue Markets Inc, Sociedad Iberica de Construcciones Electricas SA, P Square Solutions LLC, Verra Mobility Corp, Mitsubishi Heavy Industries Ltd., Cubic Transportation Systems Inc, and Q-Free ASA, among others.

•    In April 2023, Conduent introduced First-of-Their-Kind digital payment solutions for tolling and other transportation uses.
  
  
•    In September 2023, Kapsch TrafficCom invested EUR 1.3 million in production expansion of toll collection obus.
  
  
  

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