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 significant growth in the forecast period. Key drivers include the imperative to save time, alleviate traffic congestion, and meet the rising demand for seamless, cashless toll transactions. These factors are expected to propel market expansion as India seeks enhanced infrastructure solutions for improved safety and efficiency. Electronic toll collection (ETC) systems offer fast, efficient, and user-friendly services, simplifying toll payments through intuitive interfaces.
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By eliminating the need for multiple toll plazas, ETC systems reduce operational costs for road operators and enhance efficiency for traffic agencies and businesses. Moreover, these systems contribute to environmental conservation by minimizing vehicle emissions associated with manual toll booths.
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The COVID-19 pandemic had a profound impact on the India electronic toll collection market. Lockdown measures and social distancing disrupted the supply chains of essential raw materials, limiting transportation activities and reducing demand for ETC systems. Manufacturing operations were also affected as critical component supplies were disrupted. Restrictions on road travel, compounded by rising COVID-19 cases, prompted individuals to stay home, further impeding market growth. Additionally, the closure of major ports and constraints on international trade activities exacerbated the decline in demand for electronic toll collection systems in India.
The market segmentation of the India electronic toll collection market includes types such as automatic vehicle identification systems, violation enforcement systems, and others. Technologies segment the market into radio frequency identification, dedicated short-range communication, global navigation satellite system, video analytics, cell phone tolling, and others. End-user categorizations cover highways and urban areas, with regional market segmentation spanning 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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