The Global Automotive Pay As You Go Road Charging Market size is estimated to be USD 7.83 billion in 2019 and is predicted to reach USD 15.98 billion by 2030 with a CAGR of 6.7% from 2020-2030.
Automotive Pay As You Go Road Charging is tax which is taken from the vehicle owner in the form of tax which is further used for the maintenance of infrastructure. It also depends on the fuel type of vehicle as there is an inclination towards hybrid and electric vehicle which led to the construction of various charging points for the vehicles. It is network of vehicle charging points across the state, country or region.
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Market Dynamics and Trends:
The improving and modernizing infrastructure with advancement in technologies are expected to fuel the market growth. Furthermore, increase demand of hybrid and electric vehicle coupled with fluctuation in fuel prices are expected to enhance the growth of automotive pay as you go road charging market.
The other factors include increase in disposable income, increase in population led to the increased demand of vehicles coupled with increasing environmental issues. However, high cost of maintenance and lack of skilled workforce are expected to hamper the growth of automotive pay as you go road charging market. Moreover, increase in R&D and government regulations coupled with changing polices are expected to create ample opportunities in the market over the forecast period.
Market Segmentations and Scope of the Study:
The global automotive pay as you go road charging market share is analyzed on the basis of type, system, technology, infrastructure type and geography. On the basis of type, the market is segmented into Electronic Toll Collection and All Electronic Toll Collection. Based on system type, the market is fragmented into Automated Vehicle Identification and Automated Vehicle Classification. On the basis of technology, the market is divided into Radio Frequency Identification, Dedicated Short Range Communication, Video Analytics, and Global Positioning System. Based on infrastructure type, the market is fragmented into Highway and Urban. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
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Geographical Analysis:
North America is expected to hold the major market share over the forecast period owing to the increased adoption of automotive pay as you go road charging. Furthermore, developing infrastructure and technological advancement coupled with increasing fuel prices are expected to propel the growth of automotive pay as you go road charging market.
Asia Pacific is expected to show considerable growth with developing market size owing t the increase in disposable income and increase in environmental concerns. Moreover, increased inclination towards hybrid and electric vehicle coupled with increasing automotive industry are further expected to augment the growth of automotive pay as you go road charging market.
Competitive Landscape:
The automotive pay as you go road charging market, which is highly competitive, consists of a few major players. Companies, such as Kapsch, Siemens AG, Toll Collect GmbH, G.E.A., Q Free ASA, Far Eastern Electronic Toll Collection Co, Schneider Electric, International Road Dynamics, Transcore Holding INC, and Thales group among others.
In the recent past there have been various developments atken palce in the market which is also expected to takes place in the near future to further contribute the overall market growth. For instance, in December 2018, Aviva launches new PAYG home and car insurance that guarantees that an individual won’t be charged more than new customers Under Aviva's shake-up, customers will make interest-free monthly payments and they won't be charged fees to cancel or change policies.
Key Benefits:
The automotive pay as you go road charging market report provides a quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.
The study comprises a deep dive analysis of the automotive pay as you go road charging market trend including current and future trends for depicting the prevalent investment pockets in the market.
The report provides detailed information related to key drivers, restraints, opportunities and their impact on the automotive pay as you go road charging market.
The report incorporates a competitive analysis of the market players along with their market share in the global automotive pay as you go road charging market.
The study elaborates SWOT analysis and Porters Five Forces model for the automotive pay as you go road charging market.
Value chain analysis in the automotive pay as you go road charging market study provides a clear picture of the stakeholders’ roles.
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