At 11.0% CAGR, South & Central America Electronic Toll Collection System Market is Projected to be Worth US$ 671.39 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the South & Central America electronic toll collection system market was valued at US$ 292.21 million in 2022 and is expected to reach US$ 671.39 million by 2030, registering a CAGR of 11.0% from 2022 to 2030. Satellite-based GPS/GNSS systems and deployment of blockchain technology are among the critical factors attributed to the South & Central 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 contrary, leakage and high CapEx and OpEx costs hamper the growth of South & Central America electronic toll collection system market.

Based on offering, the South & Central America electronic toll collection system market is bifurcated into systems and services. The systems segment held 75.8% market share in 2022, amassing US$ 221.47 million. It is projected to garner US$ 523.64 million by 2030 to expand at 11.4% CAGR during 2022-2030.

In terms of technology, the South & Central America electronic toll collection system market is categorized into RFID, DSRC, ANPR, GNSS, and others. The RFID segment held 86.0% market share in 2022, amassing US$ 251.39 million. It is projected to garner US$ 580.69 million by 2030 to expand at 11.0% CAGR during 2022-2030.

By application, the South & Central America electronic toll collection system market is bifurcated into highways and urban zones. The highways segment held 82.8% market share in 2022, amassing US$ 241.92 million. It is projected to garner US$ 562.63 million by 2030 to expand at 11.1% CAGR during 2022-2030.

Based on country, the South & Central America electronic toll collection system market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 60.2% share of South & Central America electronic toll collection system market in 2022. It was assessed at US$ 175.94 million in 2022 and is likely to hit US$ 423.47 million by 2030, exhibiting a CAGR of 11.6% during 2022-2030.

Key players operating in the South & Central America electronic toll collection system market are Conduent Inc, Kapsch TrafficCom AG, Thales SA, Magnetic Autocontrol GmbH, Sociedad Iberica de Construcciones Electricas SA, Mitsubishi Heavy Industries Ltd., and Q-Free ASA, among others.

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