India Electronic Toll Collection Market to be Led by South Region
The rising need for effective traffic management and
case less traveling facilities is driving the India electronic toll collection
market during the forecast period.
According to TechSci Research report, “India
Electronic Toll Collection Market - By Region, Competition, Forecast, and
Opportunities, 2029,” the India electronic toll collection market is
expected to register robust growth during the forecast period. The need to save time and reduce traffic congestion
and the demand for caseless travel options for quick toll transactions are the
main forces that are likely to boost this market over the next few years. To
address the soaring need for better, safer, and more secure infrastructure, it
is anticipated that the India electronic toll collection market would continue
its rapid rise. Fast, effective, and reasonably priced services are offered in
the electronic toll collection market. They include user-friendly buttons that
are simple to use.
Since these systems do away with the necessity for
several toll plazas, which saves money for road operator agencies, they are
also advantageous for traffic agencies and businesses. The environment benefits
from electronic toll-collecting systems because they lessen the number of
emissions that vehicles release when they stop at manual toll booths.
Impact of COVID-19 on India Electronic Toll Collection
Market
The outbreak of COVID-19 severely impacted the
electronic toll collection market in the country. Due to the lockdown and
social distancing, the supply chain of various raw materials was disturbed.
Also, limited transportation and traveling activities across the country
reduced the demand for electronic toll-collection systems. The pandemic also
hampered the condition of manufacturing units as the supply of various crucial
components required in the production of electronic toll collection systems
stopped. Apart from this, restrictions imposed on road movement, along with the
increasing number of COVID cases, influenced individuals to stay at home and
refrain from traveling on the roads, which severely impacted the growth of the
market. Additionally, the closing down of various major ports, together with
the restrictions imposed on international trade activities, affected the demand
for electronic toll collection systems in the India electronic toll collection
market in the last few years.
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Pages and an in-depth TOC on the "India Electronic Toll Collection Market.”
India electronic toll collection market is segmented
by type, technology, end user, and region. Based on type, the market is
segmented into automatic vehicle identification systems, violation enforcement
systems, automatic vehicle identification systems, and others. Based on
technology, the market is segmented into radio frequency identification,
dedicated short-range communication, global navigation satellite system, video
analytics, cell phone tolling, and others. Based on end user, the market is
segmented into highways and urban areas. The market analysis also studies the
regional segmentation to devise regional market segmentation, divided among
North, East, West, and South.
Based on type, the automatic vehicle identification
system segment dominates in the India electronic toll collection market in 2023
due to FASTag's popularity at the toll collection station. Government officials
in developing nations are taking steps to put an autonomous vehicle
identification system in place.
Based on end user, the highways category is
anticipated to register high growth throughout the anticipated period. The use
of ETC systems is growing as a result of the expansion of the transportation
infrastructure to expeditiously collect tolls and ease highway traffic. For
instance, the Indian government plans to spend USD 741.5 billion on building
65,000 kilometers of national roads by 2022.
Based on technology, radio frequency identification
dominates the India electronic toll collection market in 2023 due to the rising
awareness about the benefits of RFID technology. To collect toll money, RFID
placed on an electronic toll-collecting system reads RFID tags.
Key players in the India electronic toll collection
market include:
- Arya Omnital
- KENT Intelligent Transportation Systems (India) Pvt.
Ltd.
- TollPlus
- Tollman International Pvt Ltd
- Thales India
- Mitsubishi Heavy Industries
- Siemens India
- Transcore Holdings Inc.
- Cubic Transportation System India Private Limited
- Neology Inc.
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“The expanding trend of automating various tasks, the
rising usage of smart tags on automobiles, the rising improvements in
information technology (IT)-related technologies, and smart transportation
services are some of the key factors driving the market. The growing tendency
of automating various jobs is another important driver propelling the market's
expansion at the time, increasing the demand for ETC systems. Additionally, the
market is growing as smart tags are being used on more vehicles and automatic
parking systems are being installed in more public areas. The industry is also
rising as a result of the increased usage of ETC systems, which provide
comprehensive and detailed information on the toll charges charged against each
vehicle. Additionally, governing agencies of various countries are investing in
improving their transportation and logistics infrastructure, which is
bolstering the growth of the market,” said Mr. Karan Chechi, the Research
Director at TechSci Research, a research-based global management consulting
firm.
India Electronic Toll Collection Market By Type
(Automatic Vehicle Identification System, Violation Enforcement System,
Automatic Vehicle Identification System, and Others), By Technology (Radio
Frequency Identification, Dedicated Short Range Communication, Global
Navigation Satellite System, Video Analytics, Cell Phone Tolling, and Others),
By End User (Highway, Urban Area), By Region, Competition, Forecast &
Opportunities, 2029 has assessed the India electronic toll collection
market's future development potential and provides data and information on
market size, structure, and projected market growth. The report's goal is to
give current market knowledge and assist decision-makers in making informed
investment decisions. Furthermore, the study identifies and analyses emerging
trends, as well as key drivers, constraints, and opportunities in the India
electronic toll collection market.
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