North America Vehicle Tolling System Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 7.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America Vehicle Tolling System Market Analysis
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.
North America Vehicle Tolling System Market Trends
This section covers the major market trends shaping the North America Vehicle Tolling System Market according to our research experts:
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.
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.
North America Vehicle Tolling System Industry Overview
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.
North America Vehicle Tolling System Market Leaders
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Thales Group
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Magnetic Autocontrol GmbH
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TransCore Atlantic LLC
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International Road Dynamics Inc.
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Emovis GmbH
*Disclaimer: Major Players sorted in no particular order
North America Vehicle Tolling System Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 Toll Collection Type
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5.1.1 Barrier Toll Collection
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5.1.2 Entry/ExiT Toll Collection
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5.1.3 Electronic Toll Collection
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5.2 Application Type
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5.2.1 Bridges
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5.2.2 Roads
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5.2.3 Tunnels
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5.3 Geography
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5.3.1 North America
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5.3.1.1 United States Of America
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5.3.1.2 Canada
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5.3.1.3 Rest of North America
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 Thales Group
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6.1.2 Magnetic Autocontrol GmbH
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6.1.3 TansCore Atlantic LLC
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6.1.4 Mitsubishi Heavy Industries Limited
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6.1.5 Nedap NV
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6.1.6 Cintra
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6.1.7 International Road Dynmics Inc.
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6.1.8 Emovis GmbH
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
North America Vehicle Tolling System Industry Segmentation
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 | |||||
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North America Vehicle Tolling System Market Research FAQs
What is the current North America Vehicle Tolling System Market size?
The North America Vehicle Tolling System Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in North America Vehicle Tolling System Market?
Thales Group, Magnetic Autocontrol GmbH, TransCore Atlantic LLC, International Road Dynamics Inc. and Emovis GmbH are the major companies operating in the North America Vehicle Tolling System Market.
Which is the fastest growing region in North America Vehicle Tolling System Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in North America Vehicle Tolling System Market?
In 2024, the Asia Pacific accounts for the largest market share in North America Vehicle Tolling System Market.
What years does this North America Vehicle Tolling System Market cover?
The report covers the North America Vehicle Tolling System Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Vehicle Tolling System Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Tolling Vehicle Industry Report
Statistics for the 2024 North America Tolling Vehicle market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Tolling Vehicle analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
