An electronic toll
collection (ETC) system is a sophisticated application that includes a group of
technologies to provide automated non-stop cashless payment of road toll at
toll plazas or toll collection center. The system works with various technology-enabled
products such as transponders, antennas, sensors, and wireless communication
devices equipped with RFID technology. The vehicles are charged toll, as they
drive through the toll gates, by means of various wireless communication
devices installed at toll gates and system devices mounted on the vehicle. The
vehicle do not have to stop to pay the toll. The ETC system helps to reduce
traffic congestion on highways and the traffic management process is also
streamlined.
Analysts forecast
the Global ETC
Systems market to grow at a
CAGR of 9.89 percent over the period 2013-2018.
The report
recognizes the following companies as the key players in the Global Electronic
Toll Collection Systems Market: EFKON AG, Kapsch TrafficCom AG, Schneider
Electric, Siemens AG, Thales Group and TransCore LP
Other Prominent
Vendors in the market are: 3M, Grenobloise d'Electronique et d'Automatismes,
Hitachi, International Road Dynamics, Metro Infrasys, Mitsubishi Heavy
Industries, OMRON Electronics, Perceptics, Q-Free, SAIC, TRMI Systems
Integration, Watchdata and Xerox.
One of the emerging
trends in the market is automated cashless transactions at toll gates. With
this, vehicle and fleet owners do not have to wait in a long queue to pay the
toll. Moreover, the emergence of hybrid technologies has given a major push to
the efficiency of these systems.
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Covered in this Report
This report covers
the present scenario and the growth prospects of the Global ETC Systems market
for the period 2014-2018. To calculate the market size, this report covers the
revenue generated by ETC systems providers. The report also provides data on
different segments of the Global ETC Systems market. The market is segmented
according to ETC systems products, ETC systems technology, and on the basis of
geography.
Global Electronic
Toll Collection (ETC) Systems Market 2014-2018, has been prepared based on an
in-depth market analysis with inputs from industry experts. The report covers
the Americas and the APAC and EMEA regions; it also covers the Global ETC
Systems market landscape and its growth prospects in the coming years. The
report also includes a discussion of the key vendors operating in this market.
According to the
report, one of the main drivers of the Global ETC Systems market is the growing
need to eradicate traffic congestion in metropolitan areas. With an increase in
the number of vehicles worldwide, it has become essential to control traffic in
a streamlined flow.
Further, the report
states that The Global ETC Systems market is capital-intensive in nature, and
that is one of the major challenges hindering the growth of the market. The
market is characterized by its high cost of operation and maintenance over
time, which leads to an increase in cash outflow from businesses.
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