Press Release

RFID Segment to Dominate APAC Electronic Toll Collection Market till 2024

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 nearly 10% 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 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.  

 

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 Siemens AG, Kapsch Trafficcom AG, Transcore (Roper Technologies), Cubic Corporation, Thales Group, Quarterhill Inc., Grenobloise DElectronique Et DAutomatismes (GEA) SA, Conduent Incorporated, Raytheon Company and Efkon GmbH. 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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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

ICT | May, 2019

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

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