Thailand and Philippines Tolling & City Congestion Market Expected to Reach $1,474.7 Million | By Top Leading Companies Efkon GmbH, Toshiba Corporation, Raytheon, Thales Group, Siemens AG, Kapsch, Conduent (Xerox Corporation), Cubic Transportation, Alstom

In 2017, based on product type, the UTM segment dominated the Thailand and Philippines tolling & city congestion market in terms of revenue. However, the ATMS segment is expected to grow at the highest CAGR during the forecast period (2018 - 2025). The Thailand and Philippines tolling & city congestion market portrays a promising future for the technological industry. The current business scenario witnessed an increase in adoption of this technology, particularly in the developing regions. Therefore, key players have been adopting new techniques to provide advanced and innovative product offerings to their customers.

The Thailand and Philippines tolling & city congestion market was valued at $381.1 million in 2017, and is projected to reach $1,474.7 million by 2025, registering a CAGR of 18.6% from 2018 to 2025.

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The tolling system is an automated mechanism, which helps reduce the delay on toll bridges, toll roads, and toll tunnels without human intervention for toll receivers and payers. It can electronically charge a toll to an established customer account through real-time tracking and monitoring system. The latest innovation in tolling system is the electronic toll collection (ETC) that allows vehicles to pass through a toll facility without stopping at the toll center. This tolling system uses technologies such as radio-frequency identification (RFID), dedicated short-range communication (DSRC), infrared, global navigation satellite system (GNSS)/global positioning system (GPS), and video analytics, for its operation.

Traffic management systems are commonly known as intelligent transportation systems (ITS). These are superior applications, which aim to provide innovative services in different modes of transport and traffic management. It helps increase coordination among various users and enables them to stay better informed and make safer and 'smarter' use of transport networks. Smart transportation has various types of applications such as parking management & guidance, passenger information, and in traffic management.

Factors such as rise in demand for efficient traffic management solutions, increase in number of vehicles, and reduction in environmental pollution are major factors driving the adoption of tolling & city congestion systems.

However, high capital investment for transportation & tolling system, large database requirement for road & tolling network, and low acceptance ratio are the major restraining factors for this market. Furthermore, rise in investments in the idea of smart cities and innovation of smart signal offer lucrative opportunities for the Thailand and Philippines tolling & city congestion market.

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The key players operating in the Thailand and Philippines tolling & city congestion market are Efkon GmbH, Toshiba Corporation, Raytheon, Thales Group, Siemens AG, Kapsch, Conduent (Xerox Corporation), Cubic Transportation, Alstom, GE transportation.

Thailand and Philippines tolling & city congestion market is segmented based on product type. Electronic tolling, advanced traffic management solution (ATMS), and urban traffic management (UTM) are studied under the product segment.

The key factors that drive the growth of the Thailand and Philippines tolling & city congestion industry are rise in demand for effective traffic management solutions, increase in number of vehicles, and reduction in environmental pollution. However, high initial capital investment for transportation & tolling system, large database requirement for road & tolling network and loss in jobs owing to the advanced automatic tolling system hamper the growth of the market to a certain extent. The market witnessed significant growth owing to investments in the idea of smart cities, innovation of smart traffic signal, and emergence of internet of things (IoT).

Increase in number of vehicles leads to traffic congestion, if conventional traffic management systems are used. For instance, Los Angeles is the most congested city in the world where citizens spend on an average 102 hours in traffic during peak hours, which is followed by San Francisco, Moscow, and others. Moreover, in Asia-Pacific region, the major cities that face high traffic congestion include Dhaka, New Delhi, and Mumbai. Thus, the demand for smart transportation network is on the rise, which is expected to help in reducing traffic congestion and thus, enhance the safety, sustainability, and efficiency of the transportation network.

Analyst Review:

Thailand and Philippines tolling & city congestion market holds high potential for the transportation industry. The current business scenario witnessed an increase in the demand for effective traffic management solutions, particularly in the developing regions, such as Thailand, Philippines, and others. The key players operating in the industry have adopted various techniques to provide advanced and innovative product offerings to the customers.

The Thailand and Philippines tolling & city congestion market is driven by rise in demand for efficient traffic management solutions, increase in the number of vehicles, and reduction in environmental pollution.

However, high capital investment for transportation & tolling system, large database required for road & tolling network, and low acceptance ratio are the major restraining factors for this market. Furthermore, investments in the idea of smart cities and innovation of smart signal are creating lucrative opportunities for Thailand and Philippines tolling & city congestion market

The key players operating in the Thailand and Philippines tolling & city congestion market are Efkon GmbH, Toshiba Corporation, Raytheon, Thales Group, Siemens AG, Kapsch, Conduent (Xerox Corporation), Cubic Transportation, Alstom, and GE transportation.

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