Increasing demand for
improving traffic flow per lane and reducing pollution using electronic toll
collection to drive Asia-Pacific electronic toll collection market through 2024
According
to TechSci Research report, “Asia-Pacific Electronic Toll Collection Market By Type, By Technology,
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 2019-2024. Demand for traffic management is growing across the region,
on account of increasing road traffic and need for saving time, which is
expected to drive the electronic toll collection market of Asia-Pacific in the coming
years. Electronic toll collection systems are more efficient when compared with
traditional toll collection systems, as they help in reducing delays on toll
roads. Moreover, government initiatives to build smart cities are anticipated
to positively influence the market during forecast period.
Browse 6 market data Tables and 29 Figures
spread through 80 Pages and an in-depth TOC on "Asia-Pacific
Electronic Toll Collection Market"
On the basis of type, the market can be segmented into
all electronic tolling and electronic toll collection. Electronic toll
collection segment accounted for the largest market share in 2018 and is expected
to register growth during the forecast period, as it helps to solve the problem
of traffic congestion on various toll collection sites. In terms of technology,
the market can be segmented into radio frequency identification (RFID),
dedicated short-range communication and others. RFID technology acquired the
lion’s share in 2018 and the segment is anticipated to maintain its leading
position in coming years, as it has low operation cost when compared with its
counterparts.
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Major players operating in Asia-Pacific electronic toll collection market
are Kapsch Trafficcom AG, Raytheon Company, Siemens AG, Conduent Incorporated,
Cubic Corporation, Thales Group, Quarterhill Inc., Grenobloise DElectronique Et
DAutomatismes (GEA) SA, Transcore (Roper Technologies), Efkon GmbH, etc. The companies operating in the market are adopting organic and inorganic
strategies such as product launch, investments & expansions and agreements
& contracts to ensure growth in the market.
“Asia-Pacific electronic toll collection
market is expected to register growth in coming years, on the back of increasing
industrialization & urbanization and surging demand for electronic toll
collection in developing economies, such as China and India, owing to
increasing traffic and development of road infrastructure. The market would
offer lucrative growth opportunities to companies operating in this domain,
owing to technological advancements and favorable government initiatives.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Asia-Pacific Electronic Toll Collection Market By
Type, By Technology, By Application, By Country, Competition, Forecast &
Opportunities, 2024” has
evaluated the future growth potential of Asia-Pacific electronic toll
collection market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in Asia-Pacific electronic toll
collection market.
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India RFID Market Forecast and Opportunities, 2018
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