Automotive Pay As You Go Road Charging Market
The GlobalAutomotive Pay As You Go Road Charging Market size is estimated to be USD7.83 billion in 2019 and is predicted to reach USD 15.98 billion by 2030 with aCAGR of 6.7% from 2020-2030.
Automotive Pay As You Go Road Charging is tax whichis taken from the vehicle owner in the form of tax which is further used forthe maintenance of infrastructure. It also depends on the fuel type of vehicleas there is an inclination towards hybrid and electric vehicle which led to theconstruction of various charging points for the vehicles. It is network ofvehicle charging points across the state, country or region.
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MarketDynamics and Trends:
Theimproving and modernizing infrastructure with advancement in technologies areexpected to fuel the market growth. Furthermore, increase demand of hybrid andelectric vehicle coupled with fluctuation in fuel prices are expected toenhance the growth of automotive pay as you go road charging market.
Theother factors include increase in disposable income, increase in population ledto the increased demand of vehicles coupled with increasing environmentalissues. However, high cost of maintenance and lack of skilled workforce areexpected to hamper the growth of automotive pay as you go road charging market.Moreover, increase in R&D and government regulations coupled with changingpolices are expected to create ample opportunities in the market over theforecast period.
Market Segmentations andScope of the Study:
Theglobal automotive pay as you go road charging market share is analyzed on thebasis of type, system, technology, infrastructure type and geography. On thebasis of type, the market is segmented into Electronic Toll Collection and AllElectronic Toll Collection. Based on system type, the market is fragmented intoAutomated Vehicle Identification and Automated Vehicle Classification. On thebasis of technology, the market is divided into Radio Frequency Identification,Dedicated Short Range Communication, Video Analytics, and Global PositioningSystem. Based on infrastructure type, the market is fragmented into Highway andUrban. Geographic breakdown and analysis of each of the aforesaid segmentsincludes regions comprising North America, Europe, Asia-Pacific, and RoW.
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Geographical Analysis:
NorthAmerica is expected to hold the major market share over the forecast periodowing to the increased adoption of automotive pay as you go road charging.Furthermore, developing infrastructure and technological advancement coupledwith increasing fuel prices are expected to propel the growth of automotive payas you go road charging market.
AsiaPacific is expected to show considerable growth with developing market sizeowing t the increase in disposable income and increase in environmentalconcerns. Moreover, increased inclination towards hybrid and electric vehiclecoupled with increasing automotive industry are further expected to augment thegrowth of automotive pay as you go road charging market.
Competitive Landscape:
Theautomotive pay as you go road charging market, which is highly competitive,consists of a few major players. Companies, such as Kapsch, Siemens AG, TollCollect GmbH, G.E.A., Q Free ASA, Far Eastern Electronic Toll Collection Co,Schneider Electric, International Road Dynamics, Transcore Holding INC, andThales group among others.
Inthe recent past there have been various developments atken palce in the marketwhich is also expected to takes place in the near future to further contributethe overall market growth. For instance, in December 2018, Aviva launches newPAYG home and car insurance that guarantees that an individual won’t be chargedmore than new customers Under Aviva's shake-up, customers will makeinterest-free monthly payments and they won't be charged fees to cancel orchange policies.
Key Benefits:
Theautomotive pay as you go road charging market report provides a quantitativeanalysis of the current market and estimations through 2020-2030 that assistsin identifying the prevailing market opportunities to capitalize on.
Thestudy comprises a deep dive analysis of the automotive pay as you go roadcharging market trend including current and future trends for depicting theprevalent investment pockets in the market.
Thereport provides detailed information related to key drivers, restraints,opportunities and their impact on the automotive pay as you go road chargingmarket.
Thereport incorporates a competitive analysis of the market players along withtheir market share in the global automotive pay as you go road charging market.
Thestudy elaborates SWOT analysis and Porters Five Forces model for the automotivepay as you go road charging market.
Valuechain analysis in the automotive pay as you go road charging market studyprovides a clear picture of the stakeholders’ roles.
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