- In July 2023, Axxès, a prominent European provider of electronic toll services, joined the Avanci Aftermarket program, which simplifies technology sharing among patent owners. With over 40,000 clients and 300,000 equipped vehicles on European roads, Axxès can now access key 2G, 3G, and 4G wireless patents. This move is expected to promote innovation in the interoperable electronic toll collection market in Europe
- In June 2022, TransCore secured a contract with the Thousand Islands Bridge Authority to develop, design, and maintain advanced toll collection systems for the bridge connecting Wellesley Island and Hill Island, New York. This contract involves replacing the traditional tolling system with a next-generation solution, enhancing operational efficiency and improving the overall user experience for motorists utilizing this critical transportation link
- In August 2021, Quarterhill Inc., focusing on Intelligent Transportation Systems (ITS) and intellectual property licensing, signed an agreement to acquire Electronic Transaction Consultants, LLC from Align Capital Partners. This acquisition aims to leverage Electronic Transaction Consultants’ highly customizable mobility technologies, known as riteSuite. The integration is expected to enhance Quarterhill's existing portfolio and expand its reach into adjacent sectors, driving growth in the electronic toll collection market
- In June 2021, The Ohio Turnpike and Infrastructure Commission (OTIC) extended its partnership with TransCore for another five years, focusing on statewide toll collection and customer service maintenance. TransCore will oversee all operational aspects of OTIC’s toll collection systems across Ohio’s turnpike network and manage customer support services in Berea, ensuring efficient operations and maintenance of the electronic tolling infrastructure
- In May 2021, The Metropolitan Transportation Authority (MTA) of New York awarded contracts valued at around USD 400 million to three companies for various toll system operations at its bridges and tunnels. Historically, the MTA, along with other New York tolling agencies, has relied on Conduent Inc. to manage toll operations. This new arrangement aims to improve efficiency and service delivery across the region's tolling facilities
Frequently Asked Questions
The market is segmented based on Segmentation, By Payment Method (Prepaid, Hybrid, and Postpaid), Type (Transponder/Tag-Based and Others), Technology (Radio Frequency Identification (RFID), Dedicated Short Range Communication (DSRC), Global Navigation Satellite System (GNSS)/GPS, Video Analytics, Cell Phone Tolling, and Others), Offering (Hardware and Back Office and Other Services), Application (Highways and Urban Areas), Parameters of Toll Amount (Distance Based, Point Based, Time Based, and Perimeter Based) - Industry Trends and Forecast to 2031
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The Global Electronic Toll Collection Market size was valued at USD 8.97 USD Billion in 2023.
The Global Electronic Toll Collection Market is projected to grow at a CAGR of 8.8% during the forecast period of 2024 to 2031.
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
