Global Electronic Toll Collection and Road Usage Charging market to reach €490 billion in 2030
BRUSSELS, BELGIUM--(Business Wire / Korea Newswire)--As the UK government just announced it is considering Road Usage Charging (RUC) as a funding solution for its road network, RUC schemes are being pushed ahead around the world. In the US, Asia, Africa and Oceania, electronic tolling is becoming crucial to bridge financing gaps and substitute declining gas tax receipts.
PTOLEMUS Consulting Group forecasts that 874 million global subscriptions in ETC/RUC schemes will be active by 2030, collecting over €490 billion every year by 2030.
PTOLEMUS’ Electronic Tolling Global Study is the 3rd edition of its highly popular Electronic Tolling series of reports, and represents the most comprehensive review of the global ETC/RUC market to-date, including 950 pages of insights, data, analyses and forecasts.
PTOLEMUS expects the global ETC/RUC market to grow at 13% CAGR to 2030, driven by multiple factors including: environmental policy, economic development, interoperability schemes and growth of cashless payments, propelled by COVID-19.
Dr Andrew Jackson, PTOLEMUS’ Research Director stated: “Since our 2017 report, much has changed. From Utah to Kenya, to the Netherlands and China, we devoted over 9,000 hours to analyse the market.” He continued: “EETS has moved from unachievable to unavoidable. Spain may need to toll its motorways again and Audi launched connected vehicle tolling in all its new models in the US.”
PTOLEMUS’ report analyses road funding and tolling strategies of 55 countries and 14 US states. It examines the current status of ETC and RUC schemes, how each area has evolved its legislation and value chain, and provides guidance on infrastructure developments and business opportunities.
According to Dr Jackson, “the changes in the last 3 years have been impressive but they are nothing compared to what will come: from mobile tolling to ANPR and video tolling, city congestion charges and low emission zones (LEZ) to nationwide road pricing schemes. Electronic tolling is moving into the mainstream”.
PTOLEMUS Consulting Group is the first strategy consulting & research firm entirely focused on connected & autonomous mobility. It assists leading mobility stakeholders including governments, toll agencies, road operators, toll technology and service providers, automotive OEMs and vertical service providers in defining & deploying their strategies.
For more information, please contact Andrew Jackson, at email@example.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201202005736/en/
PTOLEMUS Consulting Group
+44 7930 053 727
This is a news release distributed by Korea Newswire on behalf of this company.