According to TechSci Research report, “India Electronic Toll Collection Market - By Region, Competition, Forecast, and Opportunities, 2029,” The India electronic toll collection market is poised for robust growth in the upcoming years. Key drivers include the need to save time, reduce traffic congestion, and provide cashless travel options for quick toll transactions. These factors are expected to propel the market forward by addressing the increasing demand for improved, safer, and more efficient infrastructure across the country. Electronic toll collection systems offer fast, efficient, and cost-effective services, featuring user-friendly interfaces that simplify usage.
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Moreover, these systems contribute to cost savings for road operator agencies by eliminating the need for multiple toll plazas. They also benefit the environment by reducing vehicle emissions generated when vehicles stop at manual toll booths.
Impact of COVID-19 on the India Electronic Toll Collection Market
The outbreak of COVID-19 significantly affected the electronic toll collection market in India. The pandemic disrupted the supply chain of various raw materials and components essential for manufacturing electronic toll collection systems. Restrictions on transportation and reduced travel activities during lockdowns led to a decline in the demand for these systems. Manufacturing units faced challenges due to disruptions in the supply of crucial components required for production.
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Furthermore, restrictions on road movement and the rise in COVID-19 cases prompted individuals to stay at home, further impacting road travel and toll collections. The closure of major ports and restrictions on international trade activities also contributed to the downturn in demand for electronic toll collection systems in the Indian market in recent years.
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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