The latest report by IMARC Group, titled “Asia Pacific Electronic Toll Collection Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the Asia pacific electronic toll collection market is expected to exhibit a CAGR of 11.16% during the forecast period (2023-2028). 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.
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.
|Base Year of the Analysis
||Technology, System, Subsystem, Offering, Toll Charging, Application, Country
||China, Japan, India, South Korea, Australia, Indonesia, Others
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