Reportstack has announced a new market research report on the Global Electronic Toll Collection Systems Market 2014-2018. One of the emerging trends in this 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. The market is expected to post a CAGR of 9.89 percent during the period 2013-2018.
An ETC system is a sophisticated application that includes a group of technologies to provide automated non-stop cashless payment of the road toll at toll plazas or toll collection centers. Vehicles are charged a toll as they drive through the toll gates by various wireless communication devices installed at toll gates and system devices mounted on vehicles. These vehicles do not have to stop to pay the toll. ETC systems help reduce traffic congestion on highways, and the traffic management process is also streamlined.
“The adoption of hybrid technology systems involves the combination of advanced technologies to produce an improved state-of-the-art application,” .
“The adoption of these technologies can make toll collection systems, bridge and tunnel management systems, and public transport ITS more efficient.”
To define the market conditions in the next 3-4 years, the analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
Complete report available @ Global ETC Systems Market 2014-2018.