North America Vehicle Tolling System Market- Growth, Trend and Forecast (2020 - 2025)

The North America Vehicle Tolling System Market is segmented by Toll Collection Type (Barrier Toll Collection, Entry/Exit Toll Collection and Electronic Toll Collection), by Application Type (Bridges, Roads, and Tunnels) and Geography.

Market Snapshot

Study Period:

2020-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

7 %

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Market Overview

The vehicle toll collection and access systems market is expected to witness the CAGR of over 7%, during the forecast period (2020-2025).

  • Some of the major factors driving the growth of the market are the increasing construction of roads and highways in the region, vehicle theft detection, fuel efficiency and limited traffic congestion. However, limited awareness about new technology in developing countries may hinder the growth of the market.
  • North America and Europe are in the forefront of Tolling System Market. The toll collection system incorporates the entire manufacturing and installation of hardware and software components. The market is dominated by North America, followed by Europe and Asia-Pacific. However, the inability of major projects such as Pocahontas Parkway near Richmond and 90-mile-long SH-130 near Austin, Texas to generate revenues to cover up the project cost due to low traffic volume is hindering the market growth.
  • Road tolls are levied traditionally for specific access or infrastructure purposes. However, the evolution of technology has made it possible to implement tolling policies based on a multitude of usage concepts. The charging concepts are currently based on suiting different requirements, regarding the purpose of the charge, charging policy, the infrastructural network, etc.

Scope of the report

The North America Vehicle Tolling System Market covers the latest trends and technological development in the North America Vehicle Tolling System Market, demand of the toll collection type, by application type, geography and market share of Tolling System manufacturers across North America.

Toll Collection Type
Barrier Toll Collection
Entry/ExiT Toll Collection
Electronic Toll Collection
Application Type
Bridges
Roads
Tunnels
Geography
North America
United States Of America
Canada
Rest of North America

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Key Market Trends

Electronic Toll Collection is Expected to Witness the Highest Growth Rate

Electronic toll collection helps predominantly in reducing traffic at tollbooths, by collecting tolls without cash and without requiring cars to stop. There are several technologies that are being used for collecting tolls electronically. The majorly technologies are Dedicated Short Range Communications (DSRC) technology and Automatic Number Plate Recognition (ANPR).

In DSRC technology, RFID (Radio-Frequency Identification) tags are used to scan the vehicle entry/exit at tollbooth, whereas ANPR uses camera to identify the vehicle license plate. The above technologies are used to automate the toll collection process and avoid long queues at toll booths. Additionally, these technologies not only improve vehicle theft detection, but can also track vehicles crossing the signal and over speeding vehicles.

Other advantages of this method for motorists include fuel savings and reduced exhaust emissions, by reducing or eliminating deceleration, acceleration, and waiting time. However, RFID tags have been popularly adopted across the world, compared to other technologies. For electronic toll collection system, the trend of shifting from barrier based ETC to open road tolling (ORT) or fee flow tolling, has been gradually growing, especially in countries facing high traffic congestions at toll roads.

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North America is seeing a high growth rate in number of highways, expressways and road expansion projects

The road and highway construction industry generated a revenue of nearly USD 130 billion in the year 2019. Despite being on of the most sophisticated network of highways and roads in the world, the US roads were awarded a D grade by American Society of Civil Engineers deeming them to be too crowded, underfunded and poor condition. FAST Act allots USD 305 billion from 2016 to 2020 for development of highway, safety, transportation technology, railway, etc. Major projects such as High Desert Freeway project, Tri State Tollway Widening Project, Illinois, are underway in the United States. However, In the United States, many major highway and freeway development projects were termed fraudulent and in 2018 locals in Tampa Bay, Florida stopped the installation on toll lanes along I-275.

In Canada, The government has authorized the widening and linkup projects of highways in places such as Ontario and Toronto. In 2019, The Toronto province started on Greater Toronto Area West Highway Corridor to reduce traffic congestion and improve highway for trucks. The government is also addressing the need for Greater Golden Horseshoe corridor where population is expected to reach nearly 11.5 million by 2031 leading to 1.5 million extra trips from trucks and cars everyday and increment of 27 minutes in commute time. In 2019, the lane expansion of Trans-Canada Highway 1 was also completed in British Columbia.

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Competitive Landscape

The market is being tapped by many players, resulting in a highly competitive market environment.

Some of the major players in the market are Thales Group, Siemens AG, Magnetic Autocontrol, Transcore, Mitsubishi Heavy Industries, and other players. Thales Group dominated the market in 2018.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Toll Collection Type

      1. 5.1.1 Barrier Toll Collection

      2. 5.1.2 Entry/ExiT Toll Collection

      3. 5.1.3 Electronic Toll Collection

    2. 5.2 Application Type

      1. 5.2.1 Bridges

      2. 5.2.2 Roads

      3. 5.2.3 Tunnels

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States Of America

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Rest of North America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Thales Group

      2. 6.1.2 Magnetic Autocontrol GmbH

      3. 6.1.3 TansCore Atlantic LLC

      4. 6.1.4 Mitsubishi Heavy Industries Limited

      5. 6.1.5 Nedap NV

      6. 6.1.6 Cintra

      7. 6.1.7 International Road Dynmics Inc.

      8. 6.1.8 Emovis GmbH

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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