Asia-Pacific Electronic Toll Collection Market, By Type (All Electronic Tolling & Electronic Toll Collection), By Technology (Radio Frequency Identification, Dedicated Short-Range Communication & Others), By Application, By Country, Competition, Forecast & Opportunities, 2024
Asia-Pacific electronic toll collection market is projected to grow at a CAGR of around 21% during the forecast period.Electronic toll collection system is equipped with advanced technologies for the management of traffic and reducing traffic at toll plazas.
These systems have already gained massive acceptance in developed economies, resulting in increasing demand in developing economies as well.Developing countries are witnessing rapid urbanization, which is boosting the demand for well-connected road network between cities and towns.
Moreover, electronic toll collection or ETC provides crucial information like vehicle registration status and helps to reduce pollution, which in turn is expected to positively influence the market in coming years. However, high cost associated with the installation of these systems can emerge as a challenge for the region’s electronic toll collection market.
Electronic toll collection market in the region can be segmented based on type, technology, application and country.In terms of technology, the market can be classified into radio frequency identification (RFID), dedicated short range communication and others.
Among these, RFID has witnessed significant adoption due to low operational costs associated with that.On the basis of application, the market can be bifurcated into highways and urban.
Highways is the dominant application segment in the market, as highways witness high traffic, requiring better management solutions.
In terms of regional analysis, the market for electronic toll collection has been segmented into Japan, China, South Korea, Australia, India and Malaysia.On account of increasing traffic congestion in India, FASTag, an electronic toll collection system based on RFID technology, was implemented by National Highways Authority of India (NHAI) in 2014.
In 2017, the Ministry of Road Transportation and Highways mandated FASTag for all the new four-wheelers in the country.
Major companies operating in the region’s electronic toll collection market recorded high sale volumes in the 2018 financial year and the trend is likely to continue during the forecast period. List of major players operating in the region include Kapsch Trafficcom AG, Raytheon Company, Siemens AG, Conduent Incorporated, Cubic Corporation, Thales Group, Quarterhill Inc., Transcore (Roper Technologies), Grenobloise DElectronique Et DAutomatismes (GEA) SA, Efkon GmbH, etc. Key players operating in the market are investing in innovations to earn sound returns on investments. Moreover, strategic moves such as mergers and collaborations are also helping the key players of electronic toll collection market to magnify their customer base and expand sales & distribution networks.
• To analyze and forecast Asia-Pacific electronic toll collection market size. • To classify and forecast Asia-Pacific electronic toll collection market based on type, technology, application and country. • To identify drivers and challenges for Asia-Pacific electronic toll collection market. • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Asia-Pacific electronic toll collection market. • To identify and analyze the profile of leading players operating in Asia-Pacific electronic toll collection market. Some of the leading players in Asia-Pacific electronic toll collection market include Kapsch Trafficcom AG, Raytheon Company, Siemens AG, Conduent Incorporated, Cubic Corporation, Thales Group, Quarterhill Inc., Transcore (Roper Technologies), Grenobloise DElectronique Et DAutomatismes (GEA) SA, Efkon GmbH, etc.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of leading manufacturers across the region.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the product offerings, distribution channels and presence of all major players operating in electronic toll collection market in Asia-Pacific. The analyst calculated Asia-Pacific electronic toll collection market by using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Electronic toll collection manufacturers, suppliers, distributors and other stakeholders • Electronic toll collection component manufacturers • Government bodies such as regulating authorities and policy makers • Organizations, forums and alliances related to electronic toll collection market • Market research and consulting firms The study is useful in providing answers to several critical questions that are important for industry stakeholders such as electronic toll collection manufacturers, suppliers, distributors and other stakeholders. The report would enable the stakeholders in strategizing investments and capitalizing on emerging market opportunities.
In this report, Asia-Pacific electronic toll collection market has been segmented into following categories, in addition to the industry trends which have also been detailed below: • Market, by Type: o All Electronic Tolling (AET) o Electronic Toll Collection (ETC) • Market, by Technology: o Radio Frequency Identification (RFID) o Dedicated Short-Range Communication (DSRC) o Others • Market, by Application: o Highways o Urban • Market, by Country: o Japan o China o South Korea o Australia o India o Malaysia
Company Profiles: Detailed analysis of the major companies present in Asia-Pacific electronic toll collection market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
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