Asia Pacific Automatic Tolling System Market Analysis, Size, and Share by 2028
Asia Pacific Automatic Tolling System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Offering (Hardware and Services), and Type (Unmanned Self-Service Automated Tollbooth Collection Systems, Unmanned Automated Toll Booth Collection Systems, and Unmanned Wireless Automated Toll Booth Collection Systems)
- Status : Published
- Report Code : TIPRE00024067
- Category : Electronics and Semiconductor
- No. of Pages : 124
- Available Report Formats :
- Last update date : August 04, 2021
2021 Market Size
US$ 1,856.27 Mn
Base year value
2028 Forecast
US$ 2,958.20 Mn
Projected by 2028
CAGR 2022-2028
6.9 %
Growth rate
Addressable Market
US$ 17,120.24 Mn
(2022-2028)
The automatic tolling system market in APAC is expected to grow from US$ 1,856.27 million in 2021 to US$ 2,958.20 million by 2028; it is estimated to grow at a CAGR of 6.9% from 2021 to 2028.
Australia, China, India, Japan, and South Korea are major economies in APAC. Significant economic and safety benefits for long term is the major factor driving the growth of the APAC automatic tolling system market. The toll collection centers are strategically placed toll plazas or collection units that are levied for tax collection, congestion management or maintenance fees for public infrastructure. The volume of traffic flow plays a crucial role in determining the location of toll plazas and subsequently requires a robust and effective toll collection solution. Over the past few years, a surge in congestion at toll plazas has been witnessed due to the increase in the number of vehicles crossing through the tolls. As a result, the toll plazas end up attributing to more fuel consumption for cars and high vehicular pollution due to congestion. For instance, according to a joint study conducted by Transport Corporation of India and Indian Institute of Management, Calcutta (IIM-C), India consumed US$ 14.7 billion worth of additional fuel due to lack of efficiency in freight transportation by road in the country in 2015. Moreover, the delays amounted to almost US$ 6.6 billion to the Indian economy. Also, the delays generally caused at the toll gateways elevates the risk of vehicle accidents and safety to compensate for the loss of time incurred at the congestion. As a result, an electronic toll collection offers a competent alternative solution to the current manual toll for minimizing the congestion at toll gateways and providing seamless transit transaction without the need of supervision. The electronic toll collection systems operate an account-based systems that automatically identifies, classifies, and subsequently charges the vehicle owner as per the agency regulations without the need to stop at the toll plazas. The effective deployment of ETC systems has versatile benefits such as vehicular pollution, congestion management, seamless transit transactions, and intelligent transportation services at expressways. Thus, the long-term benefits associated with the adoption of ETC systems is driving the market penetration of these systems across various emerging economies and is likely to provide profitable business opportunities for the market players during the forecast period.
The COVID-19 that emerged in China has affected several neighboring countries such as India, South Korea, and Japan, among others. The impact of COVID-19 has significantly affected the automatic tolling system market in 2020. The imposition of a ban on commercial activities has disrupted the industrial supply chains in APAC region, leading to raw material shortages. As the automatic tolling system includes various semiconductor components such as cameras, and most of these components are produced in China and other countries of APAC which were badly affected by the pandemic. There are also restrictions on international trade as lockdowns are imposed on the borders of countries. All these have limited the transportation and travelling on road which has limited the growth of the market in the region in year 2020. However, in 2021, with the uplifting of lockdowns and vaccination process, the shipment of raw materials has started again, and the highways has also started constructing. Therefore, this will lead the growth of automatic tolling system market in the region
.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC automatic tolling system market. The APAC automatic tolling system market is expected to grow at a good CAGR during the forecast period.
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
APAC Automatic Tolling System Market Segmentation
APAC Automatic Tolling System Market – By Offering
- Hardware
- Services
APAC Automatic Tolling System Market – By Type
- Unmanned Self-Service Automated Tollbooth Collection System
- Unmanned Automated Toll Booth Collection System
- Unmanned Wireless Automated Toll Booth Collection System
APAC Automatic Tolling System Market, by Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
APAC Automatic Tolling System Market - Companies Mentioned
- Conduent Business Services, LLC
- EFKON GmbH
- Feig Electronic
- IBI Group
- Indra Sistemas, S.A.
- Mitsubishi Heavy Industries Machinery Systems, LTD
- Raytheon Technologies Corporation
- Siemens Mobility
- STMicroelectronics N.V.
- Tecsidel, S.A.
- Thales Group
Asia Pacific Automatic Tolling System Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,856.27 Million |
| Market Size by 2028 | US$ 2,958.20 Million |
| CAGR (2021 - 2028) | 6.9% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Offering
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
- Comprehensive Market Sizing and Forecast Analysis
- Detailed Segmentation Analysis
- In-Depth Market Dynamics Assessment
- Regional and Country-Level Insights
- Competitive Landscape and Company Benchmarking
- Strategic Business Intelligence
Recent Reports
Testimonials
The Insight Partners' SCADA System Market report is comprehensive, with valuable insights on current trends and future forecasts. The team was highly professional, responsive, and supportive throughout. We are very satisfied and highly recommend their services.
RAN KEDEM Partner, Reali Technologies LTDs
I requested a report on a very specific software market and the team produced the report in a few days. The information was very relevant and well presented. I then requested some changes and additions to the report. The team was again very responsive and I got the final report in less than a week.
JEAN-HERVE JENN Chairman, Future Analytica
We worked with The Insight Partners for an important market study and forecast. They gave us clear insights into opportunities and risks, which helped shape our plans. Their research was easy to use and based on solid data. It helped us make smart, confident decisions. We highly recommend them.
PIYUSH NAGPAL Sr. Vice President, High Beam Global
The Insight Partners delivered insightful, well-structured market research with strong domain expertise. Their team was professional and responsive throughout. The user-friendly website made accessing industry reports seamless. We highly recommend them for reliable, high-quality research services
YUKIHIKO ADACHI CEO, Deep Blue, LLC.
This is the first time I have purchased a market report from The Insight Partners.While I was unsure at first, I visited their web site and felt more comfortable to take the risk and purchase a market report.I am completely satisfied with the quality of the report and customer service. I had several questions and comments with the initial report, but after a couple of dialogs over email with their analyst I believe I have a report that I can use as input to our strategic planning process.Thank you so much for taking the extra time and making this a positive experience.I will definitely recommend your service to others and you will be my first call when we need further market data.
JOHN SUZUKI President and Chief Executive Officer, Board Director, BK Technologies
I wish to appreciate your support and the professionalism you displayed in the course of attending to my request for information regarding to infectious disease IVD market in Nigeria. I appreciate your patience, your guidance, and the fact that you were willing to offer a discount, which eventually made it possible for us to close a deal. I look forward to engaging The Insight Partners in the future, all thanks to the impression you have created in me as a result of this first encounter.
DR CHIJIOKE ONYIA MANAGING DIRECTOR, PineCrest Healthcare Ltd.Reason to Buy
- Informed Decision-Making
- Understanding Market Dynamics
- Competitive Analysis
- Identifying Emerging Markets
- Customer Insights
- Market Forecasts
- Risk Mitigation
- Boosting Operational Efficiency
- Strategic Planning
- Investment Justification
- Tracking Industry Innovations
- Aligning with Regulatory Trends
Get Free Sample for