North American Electronic Toll Collection Systems Market 2015-2019 with Kapsch, TrafficCom, Schneider Electric, Siemens, Thales Group & TransCore Dominating

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Jul 06, 2015, 11:19 ET

DUBLIN, June 29, 2015 /PRNewswire/ --

Research and Markets(http://www.researchandmarkets.com/research/s4wkxl/etc_systems) has announced the addition of the "ETC Systems Market in North America 2015-2019" report to their offering.

The analysts forecast the ETC systems market in North America to grow at a CAGR of 10.19 percent over the period 2014-2019.

An electronic toll collection (ETC) system is a technologically sophisticated application that collects cashless toll at toll plazas and toll collection centers. The system uses transponders, antennas, sensors, and wireless communication devices equipped with RFID technology. The vehicles are charged using wireless communication devices installed at the gates and mounted on the vehicles as they drive through the toll gates. They do not have to stop to pay the toll. The ETC system helps reduce traffic congestion on highways and streamline the traffic management process.

Automated cashless transactions at toll gates constitute one of the major trends observed in the market. With the use of ETC systems, vehicle and fleet owners do not have to wait in a long queue to pay the toll.

According to the report, the growing need to eradicate traffic congestion and enhance transportation systems is the main driver that increases the use of ETC systems in North America. With an increase in the number of vehicles, it has become essential to streamline traffic.

Further, the report states that the capital-intensive in nature of the ETC systems market in North America is hindering the market growth.

Scope of the Report

Segmentation of the ETC Systems market in North America by products: