Asia Pacific Electronic Toll Collection System Market Forecast to 2030
Asia Pacific Electronic Toll Collection System Market Forecast to 2030 – Regional Analysis – by Offering (Systems and Services), Technology (RFID, DSRC, ANPR, GNSS, and Others), and Application (Highways and Urban Zones)
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Description
Surging Demand for Effective Traffic Management at Toll Plaza Fuels Asia Pacific Electronic Toll Collection System Market
The state of road infrastructure plays an essential role in the economy’s growth as it connects important small cities, towns, and metropolitan cities for freight transportation by road. Moreover, the continuous maintenance, expansion, and improvement of expressways, highways, bridges, and tunnels ensure the continuous, uninterrupted movement of goods, which contribute toward the respective country’s GDP. However, the administrators face the challenge of maintaining road infrastructure growth along with the number of registered vehicles. As a result, the central or state government agency deploys various tolls for fees and levy tax across strategic locations on roadways for financing new infrastructure, controlling traffic, maintenance, and management of congestion of vehicles.
Rapid urbanization has driven the demand for a robust network of roads connecting cities and towns across the countries globally. Subsequently, this has boosted the investment toward the development of highways, bridges, and expressways for improved freight transportation by road. As a result, this is increasing the demand for efficient toll collection systems in the region’s economies owing to the surge in the number of registered vehicles.
Globally, many companies and government authorities have signed contracts for deploying ETC. A mentioned below is one of them:
In January 2022, the National Highways Authority of India (NHAI) tested the Advanced Traffic Management System (ATMS). This new system is expected to be soon installed on all the national highways and expressways across the country.
In 2021, two 30-year contracts for toll operation on India’s National Highway NH-44 were awarded to Egis.
Therefore, numerous contracts contributing to the demand for effective traffic management at toll plazas are anticipated to create lucrative business opportunities for ETC manufacturers and providers in the coming years.
Asia Pacific Electronic Toll Collection System Market Overview
According to the Ministry of Transport, China had more than 181 million electronic toll collection (ETC) operators in December 2019. The country has experienced 100.34 million new ETC users since May 15, 2022. The Ministry of China issued a circular to universalize freeway ETC devices, aiming to install these devices on over 80% of registered vehicles by year-end. The policy is aimed at relieving freeway traffic congestion and reducing emissions and logistics costs. Furthermore, the government of China is constructing new roads. For instance, in July 2022, China announced its plans to construct a highway network of 461,000 kilometers by 2035 and further increase it to become world-class by 2050. Also, with rural revitalization high on the government’s agenda, the country stepped up investment in rural infrastructure. Some 60,000 km of rural roads were constructed in the first half of 2022, up 17.7% and 9.2% year-on-year, respectively. Therefore, with such factors, the deployment of electronic toll collection systems is increasing in China, thereby boosting market growth.
Asia Pacific Electronic Toll Collection System Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Electronic Toll Collection System Market Segmentation
The Asia Pacific electronic toll collection system market is segmented based on offering, technology, application, and country. Based on offering, the Asia Pacific electronic toll collection system market is bifurcated into systems and services. The systems segment held a larger market share in 2022.
In terms of technology, the Asia Pacific electronic toll collection system market is segmented into RFID, DSRC, ANPR, GNSS, and others. The RFID segment held the largest market share in 2022.
By application, the Asia Pacific electronic toll collection system market is bifurcated into highways and urban zones. The highways segment held a larger market share in 2022.
Based on country, the Asia Pacific electronic toll collection system market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific electronic toll collection system market share in 2022.
Conduent Inc, Kapsch TrafficCom AG, Thales SA, Toshiba Infrastructure Systems and Solutions Corp, Magnetic Autocontrol GmbH, P Square Solutions LLC, Sociedad Iberica de Construcciones Electricas SA, Verra Mobility Corp, Mitsubishi Heavy Industries Ltd., Mitsubishi Heavy Industries Machinery Systems Ltd, Cubic Transportation Systems Inc, and Q-Free ASA are some of the leading companies operating in the Asia Pacific electronic toll collection system market.
Summary Info
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According to the Research Team research, the Asia Pacific electronic toll collection system market was valued at US$ 1,227.46 million in 2022 and is expected to reach US$ 2,960.65 million by 2030, registering a CAGR of 11.6% from 2022 to 2030. Increasing demand for interoperable electronic tolling systems and government focus on transportation infrastructure are among the critical factors attributed to the Asia Pacific electronic toll collection system market expansion.
The toll collection systems projects involve a public-private partnership model where government agencies or state bodies usually decide the toll pricing. The objective of toll collection profoundly influences vehicle classification and dynamic pricing for multiple categories of frequent travelers. Thus, effectively restricting the interoperability of toll-collection processes across different states, administrative regions, or provinces within the country. Also, there is an increase in collaborative efforts among different state bodies to participate in joint toll collection systems (accepted by more government agencies) and offer simplified toll collection for different users. This electronic toll collection system operates on a pre-paid account-based system, which various state agencies adopt for a seamless array of freight fees, tolls, and fines across the region.
The data generated via electronic toll collection transponders and RFID tags can provide meaningful insights into the traffic patterns and congestion at various expressways and highways. Also, those insights can be used for improving congestion, traffic management, and other intelligent transportation services. An exhaustive interoperable toll collection system has applications across parking fee payments at airports, malls, bus stations, and intelligent transportation services, among other innovative services. Thus, the demand for interoperable and robust electronic toll collection by the government, as well as state agencies, is fueling the demand for electronic toll collection systems.
On the contrary, leakage and high CapEx and OpEx costs hamper the growth of Asia Pacific electronic toll collection system market.
Based on offering, the Asia Pacific electronic toll collection system market is bifurcated into systems and services. The systems segment held 70.5% market share in 2022, amassing US$ 865.68 million. It is projected to garner US$ 2,166.93 million by 2030 to expand at 12.2% CAGR during 2022-2030.
In terms of technology, the Asia Pacific electronic toll collection system market is categorized into RFID, DSRC, ANPR, GNSS, and others. The RFID segment held 81.2% market share in 2022, amassing US$ 997.14 million. It is projected to garner US$ 2,410.64 million by 2030 to expand at 11.7% CAGR during 2022-2030.
By application, the Asia Pacific electronic toll collection system market is bifurcated into highways and urban zones. The highways segment held 79.1% market share in 2022, amassing US$ 970.40 million. It is projected to garner US$ 2,376.79 million by 2030 to expand at 11.8% CAGR during 2022-2030.
Based on country, the Asia Pacific electronic toll collection system market has been categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 32.7% share of Asia Pacific electronic toll collection system market in 2022. It was assessed at US$ 401.62 million in 2022 and is likely to hit US$ 1,072.93 million by 2030, exhibiting a CAGR of 13.1% during 2022-2030.
Key players operating in the Asia Pacific electronic toll collection system market are Conduent Inc, Kapsch TrafficCom AG, Thales SA, Toshiba Infrastructure Systems and Solutions Corp, Magnetic Autocontrol GmbH, P Square Solutions LLC, Sociedad Iberica de Construcciones Electricas SA, Verra Mobility Corp, Mitsubishi Heavy Industries Ltd., Mitsubishi Heavy Industries Machinery Systems Ltd, Cubic Transportation Systems Inc, and Q-Free ASA, among others.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific electronic toll collection system market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the Asia Pacific electronic toll collection system market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
TABLE OF CONTENTS
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Electronic Toll Collection System Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in Value Chain
5. Asia Pacific Electronic Toll Collection System Market – Key Industry Dynamics
5.1 Electronic Toll Collection System Market – Key Industry Dynamics
5.2 Market Drivers
5.2.1 Long-Term Economic and Safety Benefits
5.2.2 Increasing Demand for Interoperable Electronic Tolling Systems
5.2.3 Government Focus on Transportation Infrastructure
5.3 Market Restraints
5.3.1 Leakage and High CapEx and OpEx Costs
5.3.2 Lack of Standardization and Evaluation Metrics for ETC Systems
5.4 Market Opportunities
5.4.1 Surging Demand for Effective Traffic Management at Toll Plaza
5.4.2 Deployment of Blockchain Technology
5.5 Future Trends
5.5.1 Satellite-Based GPS/GNSS Systems
5.6 Impact of Drivers and Restraints:
6. Electronic Toll Collection System Market – Asia Pacific Market Analysis
6.1 Asia Pacific Electronic Toll Collection System Market Revenue (US$ Million), 2022 – 2030
6.2 Electronic Toll Collection System Market Forecast and Analysis
7. Asia Pacific Electronic Toll Collection System Market Analysis – Offering
7.1 Systems
7.1.1 Overview
7.1.2 Systems Market, Revenue and Forecast to 2030 (US$ Million)
7.2 Services
7.2.1 Overview
7.2.2 Services Market, Revenue and Forecast to 2030 (US$ Million)
8. Asia Pacific Electronic Toll Collection System Market Analysis – Technology
8.1 RFID
8.1.1 Overview
8.1.2 RFID Market, Revenue and Forecast to 2030 (US$ Million)
8.2 DSRC
8.2.1 Overview
8.2.2 DSRC Market, Revenue and Forecast to 2030 (US$ Million)
8.3 ANPR
8.3.1 Overview
8.3.2 ANPR Market, Revenue and Forecast to 2030 (US$ Million)
8.4 GNSS
8.4.1 Overview
8.4.2 GNSS Market, Revenue and Forecast to 2030 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others Market, Revenue and Forecast to 2030 (US$ Million)
9. Asia Pacific Electronic Toll Collection System Market Analysis – Application
9.1 Highways
9.1.1 Overview
9.1.2 Highways Market, Revenue and Forecast to 2030 (US$ Million)
9.2 Urban Zones
9.2.1 Overview
9.2.2 Urban Zones Market, Revenue and Forecast to 2030 (US$ Million)
10. Asia Pacific Electronic Toll Collection System Market – Country Analysis
10.1 Asia Pacific
10.1.1 Asia Pacific Electronic Toll Collection System Market Overview
10.1.2 Asia Pacific Electronic Toll Collection System Market Revenue and Forecasts and Analysis – By Country
10.1.2.1 Asia Pacific Electronic Toll Collection System Market Revenue and Forecasts and Analysis – By Country
10.1.2.2 China Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.2.1 China Electronic Toll Collection System Market Breakdown by Offering
10.1.2.2.2 China Electronic Toll Collection System Market Breakdown by Technology
10.1.2.2.3 China Electronic Toll Collection System Market Breakdown by Application
10.1.2.3 Japan Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.3.1 Japan Electronic Toll Collection System Market Breakdown by Offering
10.1.2.3.2 Japan Electronic Toll Collection System Market Breakdown by Technology
10.1.2.3.3 Japan Electronic Toll Collection System Market Breakdown by Application
10.1.2.4 India Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.4.1 India Electronic Toll Collection System Market Breakdown by Offering
10.1.2.4.2 India Electronic Toll Collection System Market Breakdown by Technology
10.1.2.4.3 India Electronic Toll Collection System Market Breakdown by Application
10.1.2.5 Australia Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.5.1 Australia Electronic Toll Collection System Market Breakdown by Offering
10.1.2.5.2 Australia Electronic Toll Collection System Market Breakdown by Technology
10.1.2.5.3 Australia Electronic Toll Collection System Market Breakdown by Application
10.1.2.6 South Korea Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.6.1 South Korea Electronic Toll Collection System Market Breakdown by Offering
10.1.2.6.2 South Korea Electronic Toll Collection System Market Breakdown by Technology
10.1.2.6.3 South Korea Electronic Toll Collection System Market Breakdown by Application
10.1.2.7 Rest of Asia Pacific Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.7.1 Rest of Asia Pacific Electronic Toll Collection System Market Breakdown by Offering
10.1.2.7.2 Rest of Asia Pacific Electronic Toll Collection System Market Breakdown by Technology
10.1.2.7.3 Rest of Asia Pacific Electronic Toll Collection System Market Breakdown by Application
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Merger and Acquisition
12. Company Profiles
12.1 Conduent Inc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Kapsch TrafficCom AG
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Mitsubishi Heavy Industries Machinery Systems Ltd
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Thales SA
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Toshiba Infrastructure Systems and Solutions Corp
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Magnetic Autocontrol GmbH
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Sociedad Iberica de Construcciones Electricas SA
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 P Square Solutions LLC
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Verra Mobility Corp
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Mitsubishi Heavy Industries Ltd
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
12.11 Cubic Transportation Systems, Inc.
12.11.1 Key Facts
12.11.2 Business Description
12.11.3 Products and Services
12.11.4 Financial Overview
12.11.5 SWOT Analysis
12.11.6 Key Developments
12.12 Q-Free ASA
12.12.1 Key Facts
12.12.2 Business Description
12.12.3 Products and Services
12.12.4 Financial Overview
12.12.5 SWOT Analysis
12.12.6 Key Developments
13. Appendix
13.1 About the Research Team
13.2 Word Index
LIST OF TABLES
Table 2. Electronic Toll Collection System Market Revenue and Forecasts To 2030 (US$ Million)
Table 3. Asia Pacific Electronic Toll Collection System Market Revenue and Forecasts To 2030 (US$ Million) – Offering
Table 4. Asia Pacific Electronic Toll Collection System Market Revenue and Forecasts To 2030 (US$ Million) – Technology
Table 5. Asia Pacific Electronic Toll Collection System Market Revenue and Forecasts To 2030 (US$ Million) – Application
Table 6. Asia Pacific Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn) – By Country
Table 7. China Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn) – By Offering
Table 8. China Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn) – By Technology
Table 9. China Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn) – By Application
Table 10. Japan Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn) – By Offering
Table 11. Japan Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn) – By Technology
Table 12. Japan Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn) – By Application
Table 13. India Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn) – By Offering
Table 14. India Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn) – By Technology
Table 15. India Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn) – By Application
Table 16. Australia Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn) – By Offering
Table 17. Australia Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn) – By Technology
Table 18. Australia Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn) – By Application
Table 19. South Korea Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn) – By Offering
Table 20. South Korea Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn) – By Technology
Table 21. South Korea Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn) – By Application
Table 22. Rest of Asia Pacific Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn) – By Offering
Table 23. Rest of Asia Pacific Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn) – By Technology
Table 24. Rest of Asia Pacific Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn) – By Application
Table 25. List of Abbreviation
LIST OF FIGURES
Figure 2. Ecosystem: Electronic Toll Collection System Market
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Asia Pacific Electronic Toll Collection System Market Revenue (US$ Million), 2022 – 2030
Figure 5. Asia Pacific Electronic Toll Collection System Market Share (%) – Offering, 2022 and 2030
Figure 6. Systems Market Revenue and Forecasts To 2030 (US$ Million)
Figure 7. Services Market Revenue and Forecasts To 2030 (US$ Million)
Figure 8. Asia Pacific Electronic Toll Collection System Market Share (%) Technology, 2022 and 2030
Figure 9. RFID Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10. DSRC Market Revenue and Forecasts To 2030 (US$ Million)
Figure 11. ANPR Market Revenue and Forecasts To 2030 (US$ Million)
Figure 12. GNSS Market Revenue and Forecasts To 2030 (US$ Million)
Figure 13. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 14. Asia Pacific Electronic Toll Collection System Market Share (%) Application, 2022 and 2030
Figure 15. Highways Market Revenue and Forecasts To 2030 (US$ Million)
Figure 16. Urban Zones Market Revenue and Forecasts To 2030 (US$ Million)
Figure 17. Electronic Toll Collection System Market, by Key Countries – Revenue (2022) (US$ Million)
Figure 18. Electronic Toll Collection System Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 19. China Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 20. Japan Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 21. India Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 22. Australia Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 23. South Korea Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 24. Rest of Asia Pacific Electronic Toll Collection System Market Revenue and Forecasts to 2030 (US$ Mn)
1. Conduent Inc
2. Kapsch TrafficCom AG
3. Thales SA
4. Toshiba Infrastructure Systems and Solutions Corp
5. Magnetic Autocontrol GmbH
6. P Square Solutions LLC
7. Sociedad Iberica de Construcciones Electricas SA
8. Verra Mobility Corp
9. Mitsubishi Heavy Industries Ltd.
10. Cubic Transportation Systems, Inc
11. Mitsubishi Heavy Industries Machinery Systems Ltd
12. Q-Free ASA.
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