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.
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.