North America accounted for the largest market of advanced transportation pricing systems in 2014. The high penetration of the intelligence transportation system in North America is driving the growth of the advanced transportation pricing systems market in the region. Asia-Pacific is expected to be the fastest growing market during the forecast period. The growing need for crowd management in developing and populous countries, such as India and China is expected to drive the demand of advanced transportation pricing systems in coming years.
The road user fees vary according to the time of the day, or day of the week. It is highest during the periods of peak rush and lowest during less rush hours. The variably priced lanes, variable tolls on entire roadways, cordon charges, and area-wide charges are some of the pricing strategies followed within the congestion pricing. Vehicle miles travelled fee systems are based upon charging the road users, on the basis of miles travelled by them. Congestion pricing system is expected to boost the advanced transportation pricing systems market during the forecast period. Especially in the densely populated emerging countries.
The Advanced Transportation Pricing Systems (ATPS) includes vehicle miles travelled (VMT) fee systems, fee-based express lanes, congestion pricing, and electronic toll collection. Some of the factors driving the growth of the advanced transportation pricing systems market are cashless travel facility, need for saving travel time, and fast toll collection.
The advanced transportation pricing systems increases the safety and efficiency of public transportation systems, and also offers road users with better access to information on system operations. The increased usage of advanced public transportation system is changing the nature of public transportation services and transforming the ways of operation of public transportation systems, which in turn expected to boost the growth of the market during the forecast period. The aim of advanced transportation pricing systems is to increase traveler’s convenience and ridership, and provide more information for effectively making the decision on systems and operations.
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Some of the competitors in the global advanced transportation pricing systems market are, TransCore Inc., Kapsch TrafficCom AG, Q-Free ASA, and EFKON AG.