Thailand and Philippines Tolling & City Congestion Market – Competitive Analysis of Key Player
According to a recent report published by Allied Market Research, titled,the Thailand and Philippines tolling & city congestion market was valued at $381.1 million in 2017, and is projected to reach $1,474.7 million by 2025, registering a CAGR of 18.6% from 2018 to 2025.
The tolling system is an automated mechanism, which helps reduce the delay on toll bridges, toll roads, and toll tunnels without human intervention for toll receivers and payers. It can electronically charge a toll to an established customer account through real-time tracking and monitoring system. The latest innovation in tolling system is the electronic toll collection (ETC) that allows vehicles to pass through a toll facility without stopping at the toll center. This tolling system uses technologies such as radio-frequency identification (RFID), dedicated short-range communication (DSRC), infrared, global navigation satellite system (GNSS)/global positioning system (GPS), and video analytics, for its operation.
Traffic management systems are commonly known as intelligent transportation systems (ITS). These are superior applications, which aim to provide innovative services in different modes of transport and traffic management. It helps increase coordination among various users and enables them to stay better informed and make safer and 'smarter' use of transport networks. Smart transportation has various types of applications such as parking management & guidance, passenger information, and in traffic management.
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Factors such as rise in demand for efficient traffic management solutions, increase in number of vehicles, and reduction in environmental pollution are major factors driving 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 are the major restraining factors for this market. Furthermore, rise in investments in the idea of smart cities and innovation of smart signal offer lucrative opportunities for the Thailand and Philippines tolling & city congestion market.
The key players operating in the Thailand and Philippines tolling & city congestion market are Efkon GmbH, Toshiba Corporation, Raytheon, Thales Group, Siemens AG, Kapsch, Conduent (Xerox Corporation), Cubic Transportation, Alstom, GE transportation.
Analyst Review:
Thailand and Philippines tolling & city congestion market holds high potential for the transportation industry. The current business scenario witnessed an increase in the demand for effective traffic management solutions, particularly in the developing regions, such as Thailand, Philippines, and others. The key players operating in the industry have adopted various techniques to provide advanced and innovative product offerings to the customers.
The Thailand and Philippines tolling & city congestion market is driven by rise in demand for efficient traffic management solutions, increase in the number of vehicles, and reduction in environmental pollution.
However, high capital investment for transportation & tolling system, large database required for road & tolling network, and low acceptance ratio are the major restraining factors for this market. Furthermore, investments in the idea of smart cities and innovation of smart signal are creating lucrative opportunities for Thailand and Philippines tolling & city congestion market
The key players operating in the Thailand and Philippines 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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on Friday November 02 2018, 1:17 PM EST.
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