The electronic toll collection system market in North America is expected to grow from US$ 1,373.20 million in 2021 to US$ 2,683.00 million by 2028; it is estimated to grow at a CAGR of 10.0% from 2021 to 2028. The effective trade through NAFTA (North America Free Trade Agreement) has ensured the transportation and free trade within the U.S., Canada, and Mexico. Further, the consistent maintenance and connectivity through roads have also risen the demand for robust toll collection across Mexico and Canada. However, low penetration of digital transaction has resulted in limited the ETC systems to national highways and expressways. Whereas Canada superior economic and infrastructure abilities has witnessed greater adoption of ETC systems compared to Mexico. However, the country still lacks a robust and interoperable ETC system unlike its neighboring country U.S. which boasts of an interoperable system
key companies profiled in this research study are:
Kapsch Trafficcom AG
North America Electronic Toll Collection System Market Segmentation
North America Electronic Toll Collection System Market – By Offering:
North America Electronic Toll Collection System Market – By Technology:
North America Electronic Toll Collection System Market – By Application:
North America Electronic Toll Collection System Market – By Country:
The countries considered under the North American region are U.S., Canada, and Mexico. The U.S. being one of the first countries to integrate electronic toll collection systems today boasts a significant network of ETC based systems across various tunnels, bridges, toll gateways, and expressways. Moreover, through a collaborative effort of various inter-state agencies have facilitated the implementation of an efficient ETC system across the country in the past decade. Moreover, the significant freight transportation by road in the U.S. compared to Canada and Mexico has also greatly influenced the adoption of ETC based systems in the country.
This has led to a substantial market share of 53.24% in the North America region owing to leading market penetration of ETC based systems. Subsequently, the ETC system market in the U.S. is expected to witness a steady growth over the forecast period. The rising number of government initiatives to achieve congestion-free transportation, rapidly increasing vehicle demand and production in the North American region, and adoption of the latest technological solutions, such as GPS and GNSS toll collection and tracking solutions are driving the north America electronic toll collection market.
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Major Features of North America Electronic Toll Collection System Market Report:
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America Electronic Toll Collection System Market.
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the North America Electronic Toll Collection System Market, thereby allowing players across the value chain to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth North America market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
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