London, 20 April 2015 – The growing need to eradicate traffic congestion and enhance transportation systems has resulted in the steady growth of the ETC Systems Market in North America, which is expected to post a CAGR of 10.19 percent from 2015-2019, says research firm Technavio.
About the Report:
Traffic congestion leads to longer lines, slow vehicle movement, long trip time and ultimately more frustration for commuters. Congestion increases near toll gates and plazas because of the time taken to pay tolls.
“Toll charging can be done without stopping vehicles and without any manual interference through the use of ETC systems like toll passes, which streamline the flow of traffic,” says Faisal Ghaus, Vice President of Technavio.
The new Technavio report also draws attention towards the cashless transaction model followed by ETC systems, where a user does not have to stop their vehicle at a toll gate to pay the charge. Smartcard ticketing systems for public transport ensure a reduction in paper tickets.
“This system allows customers to choose their mode of transport as well as the duration of their usage,” says Ghaus.
Market Scope and Calculation of Market Size:
The new Technavio report covers the present scenario and the growth prospects of the ETC Systems Market is North America from 2015-2019. To calculate the market size, this report considers the revenue generated by ETC system providers.
Key Information Covered in the Report:
Key Vendors:
Schneider Electric
Siemens AG
The Thales Group
TransCore LP
Market Growth Drivers:
Need to reduce traffic congestion
For a full detailed list, view our report.
Market Challenges:
High cost of operation and maintenance
For a full detailed list, view our report.
Market Trends:
Cashless transactions
For a full detailed list, view our report.
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
