According to the latest report by IMARC Group, titled "Asia Pacific Electronic Toll Collection Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026", the Asia Pacific electronic toll collection market is currently witnessing strong growth. On account of these factors, the market is expected to continue its strong growth during 2021-2026. Electronic toll collection (ETC) depends on transaction processing, automated vehicle classification, automated vehicle identification, and violation enforcement system to automatically exercise monetary transactions at toll booths. It operates using transponders, sensors, antennas, and wireless communication devices to provide a cashless facility, enhance transaction speed, and increase data quality. It minimizes fuel consumption on toll bridges, controls air pollution, reduce road congestion, and saves travel time.
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.
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Market Trends:
In the Asia Pacific region, the upgradations of transportation and logistics infrastructures, along with the growing traffic congestion, are primarily propelling the growth of the ETC market. Moreover, governments of several nations across the region are focusing on the development of smart cities which is positively influencing the demand for ETC systems. Furthermore, ETC systems track the defaulters violating traffic laws, along with maintaining the transparency of toll collection procedures, thereby further catalyzing the market growth. Additionally, the rising installation of advanced solutions, such as Dedicated Short-Range Communications, video analytics, Global Positioning System, Global Navigation Satellite System, etc., with ETC will continue to drive the market growth across the region in the coming years.
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Key Market Segmentation:
Breakup by Technology:
- RFID
- DSRC
- Others
Breakup by System:
- Transponder - or Tag-Based Toll Collection Systems
- Other Toll Collection Systems
Breakup by Subsystem:
- Automated Vehicle Identification
- Automated Vehicle Classification
- Violation Enforcement System
- Transaction Processing
Breakup by Offering:
- Hardware
- Back Office and Other Services
Breakup by Toll Charging:
- Distance Based
- Point Based
- Time Based
- Perimeter Based
Breakup by Application:
- Highways
- Urban Areas
Breakup by Country:
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- COVID-19 Impact on the Market
- Porter's Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.