According to a recent report published by Allied Market Research, titled, Asia-Pacific Tolling & City Congestion Market By Product Type and Region: Opportunity Analysis and Industry Forecast, 20182025, the Asia-Pacific tolling & city congestion was valued at $1,154.9 million in 2017, and is projected to reach $3,932.4 million by 2025, registering a CAGR of 16.7% from 2018 to 2025.
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Factors such as rise in demand for efficient traffic management solutions, increase in the number of vehicles, and reduction in environmental pollution majorly drive 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 restrict the market growth. Furthermore, investments in the idea of smart cities and innovation of smart signal have created lucrative opportunities for the Asia-Pacific tolling & city congestion market.
Key Findings of The Study
Based on product type, the UTM segment dominated the Asia-Pacific tolling & city congestion market in 2017.
ATMS is anticipated to exhibit the highest CAGR during the forecast period.
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The key players operating in the Asia-Pacific 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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