Automatic Tolling System Market Growth, Size, Share, Trends, Key Players Analysis, and Forecast till 2031

The automatic tolling system market size is projected to reach US$ 12.66 billion by 2031 from US$ 7.62 billion in 2023. The market is expected to register a CAGR of 6.6% during 2023–2031. The rise in digitalization of toll collection and long-term economic and safety benefits are likely to be the key drivers and trends of the market.

Automatic Tolling System Market Analysis

The automatic tolling system market is experiencing significant growth globally. This growth is attributed to factors such as the rise in digitalization of toll collection and long-term economic and safety benefits. Moreover, the surging demand for effective toll management systems in emerging economies and the emergence of new technologies to make highly advanced tolling systems are anticipated to drive the market in the coming years.

Automatic Tolling System Market Overview

Electronic toll collection (ETC) systems charge a toll to users without the need for any action or stopping by the driver. The system debits the accounts of registered car owners or identifies the license plate for later billing without requiring vehicles to stop. ETC lanes improve the speed and efficiency of traffic flow and save driver’s time.

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Automatic Tolling System Market: Strategic Insights

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Automatic Tolling System Market Drivers and Opportunities

Rise is Digitalization of Toll Collection to Favor Market

A rise in digitalization in toll collection can indeed be a driver for the automatic tolling system market. It offers improved efficiency and convenience, reduced operational costs, enhanced accuracy and security, seamless integration with other systems, data collection and analysis, user convenience and satisfaction, increasing government initiatives and regulations and environmental benefits. Digitalization streamlines the toll collection process, reducing the requirement for manual toll systems and allowing transactions at a fast pace. Moreover, several digital toll systems have various payment methods, such as mobile payment and electronic wallets, enhancing user convenience.

Government Focus on Transportation Infrastructure to Favor Market

Government focus on transportation infrastructure is indeed driving the automatic toll collection market globally. According to the US Census Bureau, the US resident population increased by 0.4% in 2022 compared to 2021. There is a rise in the population in North America, which has encouraged government bodies to invest in building efficient infrastructure to handle a growing population and sustain economic growth. The rising focus on rebuilding the aging infrastructure and the inclusion of smart solutions a key factor fueling the adoption of automatic toll-collection systems in the region. Thus, considering the above parameters, the government's focus on transportation infrastructure is fueling the automatic toll-collection market.

Automatic Tolling System Market Report Segmentation Analysis

Key segments that contributed to the derivation of the automatic tolling system market analysis are offering and type.

• Based on the offering, the automatic tolling system market is divided into hardware and services. The hardware segment is anticipated to hold a significant market share in the forecast period.
• Based on type, the automatic tolling system market is divided into unmanned self-service automated tollbooth collection systems, unmanned automated toll booth collection systems, and unmanned wireless automated toll booth collection systems. The unmanned self-service automated tollbooth collection systems segment is anticipated to hold a significant market share in the forecast period.

Automatic Tolling System Market Share Analysis by Geography

The geographic scope of the automatic tolling system market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America has dominated the automatic tolling system market. High technology adoption trends in various industries in the North American region have fuelled the growth of the automatic tolling system market. Factors such as increased adoption of digital tools and high technological spending by government agencies are expected to drive the North American automatic tolling system market growth. Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the North American players to bring technologically advanced solutions into the market. In addition, the US has a large number of automatic tolling system market players who have been increasingly focusing on developing innovative solutions. All these factors contribute to the region's growth of the automatic tolling system market.

Automatic Tolling System Market Regional Insights

The regional trends and factors influencing the Automatic Tolling System Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Automatic Tolling System Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Automatic Tolling System Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Automatic Tolling System Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Automatic Tolling System Market are:

1. Conduent Business Services, LLC
2. Efkon GmbH
3. Feig Electronic
4. Mitsubishi Heavy Industries Machinery Systems, Ltd.
5. Neology, Inc
6. Raytheon Technologies Corporation

Disclaimer: The companies listed above are not ranked in any particular order.

Automatic Tolling System Market News and Recent Developments

The automatic tolling system market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the automatic tolling system market are listed below:

• India to soon launch GPs-based toll collection. Union ministry announced that GPS-based toll collection systems will replace existing highway toll plazas in the country. Road, Transport and Highways minister announced that transition will occur as early as April this year. (HT Auto Company Website, June 2024)

Automatic Tolling System Market Report Coverage and Deliverables

The “Automatic Tolling System Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Automatic tolling system market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Automatic tolling system market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Automatic tolling system market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the automatic tolling system market
• Detailed company profiles