Services Segment to Dominate APAC Automatic Tolling System Market during 2020–2028    

According to a new market research study on “APAC Automatic Tolling System Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Offering and Type” is expected to reach US$ 2,958.20 million by 2028 from 1,856.27 US$ million in 2021. The market is estimated to grow at a CAGR of 6.9% from 2021 to 2028. The report provides trends prevailing in the APAC automatic tolling system market along with the drivers and restraints pertaining to the market growth. Significant economic and safety benefits for long term is the major factor driving the growth of the APAC automatic tolling system market. However, the issue associated with high initial and operating costs hinders the growth of APAC automatic tolling system market.   

 The APAC automatic tolling system market is segmented into offering and type. Based on offering, the APAC automatic tolling system market is segmented into hardware and services. The services segment held the largest market share in 2020. Based on type, the automatic tolling system market is segmented into unmanned self-service automated toll booth collection system, unmanned automated toll booth collection system, and unmanned wireless automated toll booth collection system. The unmanned automated toll booth collection system segment led the automated tolling system market in 2020. Based on country, the APAC automatic tolling system market is segmented into Australia, China, India, Japan, and South Korea.

The COVID-19 that emerged in China has affected several neighboring countries such as India, South Korea, and Japan, among others. The impact of COVID-19 has significantly affected the automatic tolling system market in 2020. The imposition of a ban on commercial activities has disrupted the industrial supply chains in APAC region, leading to raw material shortages. As the automatic tolling system includes various semiconductor components such as cameras, and most of these components are produced in China and other countries of APAC which were badly affected by the pandemic. There are also restrictions on international trade as lockdowns are imposed on the borders of countries. All these have limited the transportation and travelling on road which has limited the growth of the market in the region in year 2020. However, in 2021, with the uplifting of lockdowns and vaccination process, the shipment of raw materials has started again, and the highways has also started constructing. Therefore, this will lead the growth of automatic tolling system market in the region.

Conduent Business Services, LLC; EFKON GmbH; Feig Electronic; IBI Group; Indra Sistemas, S.A.; Mitsubishi Heavy Industries Machinery Systems, LTD; Raytheon Technologies Corporation; Siemens Mobility; STMicroelectronics N.V.; Tecsidel, S.A.; and Thales Group are among the leading companies in the APAC automatic tolling system market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, IBI Group completed the designing and installation of Closed Toll Collection System at Nandi Economic Corridor Enterprises Limited in Bengaluru, India with 8 toll plazas and 140 lanes.

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