From Globe Newswire: 2024-06-04 04:30:00

The global electronic toll collection market is valued at USD 10.1 billion in 2024, projected to reach USD 14.7 billion by 2029 with a 7.9% CAGR. Factors include reducing traffic congestion, government support, and automated payment convenience.

Key companies in the electronic toll collection market include Kapsch TrafficCom AG, Conduent, Inc., TransCore, and Thales, among others.

The urgent need to reduce traffic congestion and accidents drives the electronic toll collection market. ETC systems streamline toll collection, reduce emissions, and lower the risk of accidents on highways and major roadways.

A major restraint in the electronic toll collection market is the reliance on technology, which can lead to technical failures and disruptions in toll collection, causing inconvenience to users and revenue loss for operators.

Electronic toll collection offers an opportunity to reduce fuel consumption and emissions, improving air quality and public health by eliminating idling at toll plazas and reducing harmful pollutants.

Privacy concerns arise with electronic toll collection systems storing data such as license plate numbers and travel routes, raising questions about potential misuse of personal information and the balance between public interest and individual privacy rights.



Read more at Globe Newswire: Understanding the Dynamics of the Electronic Toll