The latest report by IMARC Group, titled “Asia Pacific Electronic Toll Collection Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the Asia pacific electronic toll collection market is expected to exhibit a CAGR of 11.46% during the forecast period (2022-2027). An electronic toll collection (ETC) system electronically collects tolls without stopping the vehicle at toll booths. It depends on automated vehicle identification (AVI), automated vehicle classification (AVC), transaction processing, violation enforcement system (VES), and transaction processing to automatically perform economical transactions. It operates using antennas, sensors, transponders or tags, and wireless communication devices to provide a cashless facility and enhance transaction speed. In recent years, ETC systems have gained popularity as they reduce fuel consumption on toll bridges, are cost-effective, save travel time, improve cash handling, data collection and payment flexibility, increase capacity, and minimize air pollution and road congestion.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.??
Asia Pacific Electronic Toll Collection Market Trends:
The market is primarily driven by the rising development of transportation and logistics infrastructure across the Asia Pacific region. In addition, governments of various countries are focusing on developing smart cities, which is accelerating the demand for smart toll-collection systems. Moreover, ETC systems are equipped with advanced technologies for managing traffic and reducing traffic at toll plazas. This, coupled with rapid urbanization and the escalating demand for well-connected road networks between cities and towns, represents another major growth-inducing factor. Besides this, ETC systems track users and defaulters violating traffic laws, thus enhancing the transparency of toll-collection processes. Along with this, ETC contains crucial information like vehicle registration status and helps reduce pollution, which is further propelling market growth. Furthermore, the increasing utilization of advanced solutions, such as Global Positioning System (GPS), video analytics, Dedicated Short-Range Communications (DSRC), and Global Navigation Satellite System (GNSS), radio frequency identification (RFID), in these systems is anticipated to create a positive market outlook in the coming years.
- Based on technology, the market has been segmented into RFID, DSRC, and others.
- On the basis of the system, the market has been bifurcated into transponder – or tag-based toll collection systems and other toll collection systems.
- Based on the subsystem, the market has been classified into automated vehicle identification, automated vehicle classification, violation enforcement system, and transaction processing.
- On the basis of the offering, the market has been segregated into hardware, and back office and other services.
- Based on the toll charging, the market has been divided into distance-based, point-based, time-based, and perimeter-based.
- On the basis of the application, the market has been segmented into highways and urban areas.
- Region-wise, the market has been divided into China, Japan, India, South Korea, Australia, Indonesia, and others.
- The competitive landscape of the industry has also been examined, along with detailed profiles of the key players operating in the industry.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
30 N Gould St, Ste
Sheridan, WY (Wyoming) 82801 USA
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800