At 13.0% CAGR, Europe Electronic Toll Collection System Market is Projected to be Worth US$ 3,922.06 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe electronic toll collection system market was valued at US$ 1,476.78 million in 2022 and is expected to reach US$ 3,922.06 million by 2030, registering a CAGR of 13.0% from 2022 to 2030. Surging demand for effective traffic management at toll plaza and deployment of blockchain technology are among the critical factors attributed to the Europe electronic toll collection system market expansion.

The state of road infrastructure plays an essential role in the economy's growth as it connects important small cities, towns, and metropolitan cities for freight transportation by road. Moreover, the continuous maintenance, expansion, and improvement of expressways, highways, bridges, and tunnels ensure the continuous, uninterrupted movement of goods, which contribute toward the respective country's GDP. However, the administrators face the challenge of maintaining road infrastructure growth along with the number of registered vehicles. As a result, the central or state government agency deploys various tolls for fees and levy tax across strategic locations on roadways for financing new infrastructure, controlling traffic, maintenance, and management of congestion of vehicles.

Rapid urbanization has driven the demand for a robust network of roads connecting cities and towns across the countries globally. Subsequently, this has boosted the investment toward the development of highways, bridges, and expressways for improved freight transportation by road. As a result, this is increasing the demand for efficient toll collection systems in the region's economies owing to the surge in the number of registered vehicles.

Globally, many companies and government authorities have signed contracts for deploying ETC. A few of them are mentioned below.

•    In 2023, the management and toll collection contract for the A24 Blankenburg Connection, a road serving the Rotterdam region of the Netherlands, was awarded to Via Verde. A-to-Be will supply RDW, the Netherlands Vehicle Authority National Roads Traffic Agency, with its MoveBeyond back-office system as part of this deal, acting as Via Verde's essential technology partner. The technology created by A-to-Be serves as the foundation for the Via Verde solution.
  
  
•    In July 2022, the UK Department for Transport's National Highways awarded Verra Mobility a contract to recover unpaid road user charges and corresponding penalties for the Dartford-Thurrock River Crossing, which is a free-flow location, where the liable party resides outside of the country.
  
  
•    In May 2019, Toll4Europe was authorized as a European service provider for toll collecting in Germany by the German Federal Office for Goods Transport. The company's several-month-long testing and pilot operation were successfully concluded. In the German road network, heavy cargo vehicles are subjected to tolls collected by Toll4Europe.
  
  Therefore, numerous contracts contributing to the demand for effective traffic management at toll plazas are anticipated to create lucrative business opportunities for ETC manufacturers and providers in the coming years.
  
  On the contrary, leakage and high CapEx and OpEx costs hamper the growth of Europe electronic toll collection system market.
  
  Based on offering, the Europe electronic toll collection system market is bifurcated into systems and services. The systems segment held 72.1% market share in 2022, amassing US$ 1,065.05 million. It is projected to garner US$ 2,929.19 million by 2030 to expand at 13.5% CAGR during 2022-2030.
  
  In terms of technology, the Europe electronic toll collection system market is categorized into RFID, DSRC, ANPR, GNSS, and others. The DSRC segment held 74.1% market share in 2022, amassing US$ 1,094.30 million. It is projected to garner US$ 2,929.92 million by 2030 to expand at 13.1% CAGR during 2022-2030.
  
  By application, the Europe electronic toll collection system market is bifurcated into highways and urban zones. The highways segment held 78.7% market share in 2022, amassing US$ 1,162.50 million. It is projected to garner US$ 3,136.74 million by 2030 to expand at 13.2% CAGR during 2022-2030.
  
  Based on country, the Europe electronic toll collection system market has been categorized into Germany, the UK, France, Italy, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 31.8% share of Europe electronic toll collection system market in 2022. It was assessed at US$ 469.32 million in 2022 and is likely to hit US$ 1,349.34 million by 2030, exhibiting a CAGR of 14.1% during 2022-2030.
  
  Key players operating in the Europe electronic toll collection system market are Conduent Inc, Kapsch TrafficCom AG, Thales SA, Magnetic Autocontrol GmbH, Sociedad Iberica de Construcciones Electricas SA, Verra Mobility Corp, Mitsubishi Heavy Industries Ltd., Cubic Transportation Systems Inc, and Q-Free ASA, among others.
  
  
•    In February 2022, Thales announced the implementation of an electronic toll collection system in Guatemala.
  
  
•    In July 2022, Verra Mobility expanded Toll and Violation Management Solutions in europe with new partner agreements.
  
  

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