Asia-Pacific Electronic Toll Collection Market by Type, Technology, Application, Country & Company - Forecast to 2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 11, 2019--
The “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” report has been added to ResearchAndMarkets.com’s offering.
The 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.
The 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.
- Historical Years: 2014-2017
- Base Year: 2018
- Estimated Year: 2019
- Forecast Period: 2020-2024
Objectives of the Study
- To analyze and forecast the Asia-Pacific Electronic Toll Collection Market size.
- To classify and forecast the Asia-Pacific Electronic Toll Collection Market based on type, technology, application and country.
- To identify drivers and challenges for the Asia-Pacific Electronic Toll Collection Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Asia-Pacific Electronic Toll Collection Market.
- To identify and analyze the profile of leading players operating in the Asia-Pacific Electronic Toll Collection Market.
Key Topics Covered
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Asia-Pacific Electronic Toll Collection Market Outlook
4.1. Market Size & Forecast
4.1.1. By Value
4.2. Market Share & Forecast
4.2.1. By Type (All Electronic Tolling (AET); Electronic Toll Collection (ETC))
4.2.2. By Technology (Radio Frequency Identification (RFID); Dedicated Short-Range Communication (DSRC); Others)
4.2.3. By Application (Highways; Urban)
4.2.4. By Country
4.2.5. By Company
4.3. Market Attractive Index
4.4. Japan Electronic Toll Collection Market Outlook
4.4.1. Market Size & Forecast
18.104.22.168. By Value
4.4.2. Market Share & Forecast
22.214.171.124. By Type (All Electronic Tolling (AET); Electronic Toll Collection (ETC))
126.96.36.199. By Technology (Radio Frequency Identification (RFID); Dedicated Short-Range Communication (DSRC); Others)
4.5. China Electronic Toll Collection Market Outlook
4.6. South Korea Electronic Toll Collection Market Outlook
4.7. Australia Electronic Toll Collection Market Outlook
4.8. India Electronic Toll Collection Market Outlook
4.9. Malaysia Electronic Toll Collection Market Outlook
5. Market Dynamics
6. Market Trends & Developments
7. Competitive Landscape
7.1. Kapsch Trafficcom AG
7.2. Raytheon Company
7.3. Conduent Inc.
7.4. Thales Group
7.5. Cubic Corporation
7.6. Siemens AG
7.7. Grenobloise DElectronique Et DAutomatismes (GEA) S.A.
7.8. Quarterhill Inc.
7.9. Transcore (Roper Technologies)
7.10. Efkon GmbH
(Note: The companies list can be customized based on the client requirements)
8. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/bjipjn
View source version on businesswire.com:https://www.businesswire.com/news/home/20191111005340/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
KEYWORD: ASIA PACIFIC
INDUSTRY KEYWORD: AUTOMOTIVE OTHER AUTOMOTIVE
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 11/11/2019 08:38 AM/DISC: 11/11/2019 08:38 AM