Tolling and City Congestion Market Strategies 2020- 2025 Top Growing companies fkon GmbH, Toshiba Corporation, Raytheon, Thales Group, Siemens AG, Kapsch, Conduent
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Increasing demand for effective traffic management solutions, burgeoning number of vehicles, and pressing need to reduce environment pollution have boosted the growth of the market. However, high initial capital investment for transportation & tolling system and requirement of large database for road & tolling network hamper the market growth. On the contrary, increasing inclination toward smart cities, emergence of the internet of things, and innovation of smart traffic signal are expected to create lucrative opportunities in the future.
UTM segment to witness highest demand by 2025
In 2017, the UTM segment garnered the largest market share, contributing about two-thirds of the total market revenue and is expected to maintain its dominance throughout the study period. However, the ATMS segment is expected to register the fastest CAGR of 20.5% during the forecast period, as ATMS uses roadside traffic sensors to offer real-time information. In addition, the electronic tolling segment is anticipated to show gradual growth during 2018-2025.
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Hong Kong to portray fastest CAGR through 2025
Hong Kong region is expected to manifest the fastest CAGR of 23.8% during the study period, owing to continuous developments and advancement in technologies coupled with supportive government policies related to tolling & traffic congestion. However, Singapore region held the largest market share in 2017, contributing about 22% of the total revenue, owing to increased population and surge in demand for transportation services in the region. The other regions analyzed in the report include Thailand, Philippines, South Korea, and Malaysia.
The key players Operating in the Asia-Pacific tolling & City Congestion Market
* Efkon GmbH,
* Siemens AG,
* Conduent (Xerox Corporation),
* Alstom, Toshiba Corporation,
* Thales Group,
* Siemens AG,
* Cubic Transportation
* GE transportation.
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Driving factors for the market
1.Rise in demand for effective traffic management solutions
2.Increase in number of vehicles
3.Reduction in environmental pollution
Market Restraints and Opportunities:
1.High initial capital investment for transportation & tolling system
2.Large database requirement for road & tolling network
3.Loss in jobs due to advance automatic tolling system.
4.Investments in the idea of smart cities
5.Innovation of smart traffic signal
6.Emergence of internet of things (IoT)
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