- The market is witnessing steady growth due to rising government investments in intelligent transportation systems and the widespread adoption of automatic vehicle identification technologies
- Growing adoption of cashless tolling systems and real-time traffic monitoring platforms is enabling faster throughput at toll booths, improving road safety and user experience
- The hardware segment accounted for the largest market revenue share in 2024, driven by the widespread deployment of physical components such as RFID readers, antennas, sensors, and cameras at toll plazas and gantries
- The reliability and durability of hardware systems in varying environmental conditions make them indispensable for accurate vehicle identification and classification. The demand is further bolstered by infrastructure modernization initiatives across major toll networks in the country
