The electronic toll collection market is estimated to be worth $9.8 billion by 2024. That’s a pretty impressive figure that shows no signs of slowing down any time soon. This increase in the popularity of toll roads and other similar services is directly linked to the increased usage of connected cars and digital wallets best usa online casino. These innovations have changed the way people pay for road usage, which will have an impact on the car industry for many years to come. Read on to find out more about the future of e-tolling and driving in general…
What is Electronic Toll Collection?
Electronic toll collection (ETC) refers to the use of vehicle-mounted transponders or scanners to automatically pay for toll roads or other types of road usage. In some cases, you can use your smartphone as a wallet to pay for road usage. This technology is used around the world on a variety of transport systems. ETC can also be used for other types of payment, such as for parking and fuel. There are many different types of ETC systems. Some of the most notable include open road tolling, closed road tolling, hybrid systems and open lane systems.
How does e-tolling work?
When you drive on a toll road, your vehicle is checked for an RFID or a transponder. This is a small device that looks like a small box. If your car has one of these, then you don’t have to stop and manually pay for the toll. Instead, the vehicle passes through a magnetic field that reads the transponder and automatically charges your account. For vehicles without a transponder, the system uses cameras to read license plates. A computer then connects with a database to check for any unpaid tolls. If you have an unpaid toll, it could get sent to collections. Depending on the type of toll road your vehicle is driving on, there will be a prescribed distance where you need to slow down. Some toll roads have signs that alert you to the correct speed while others use sensors to detect your speed. If you are caught speeding, you may receive a fine australianonlinecasinosites.com.
The future of driving: self-driving cars and more
More than 60% of driving car accidents are caused by driver error. This is why many governments are pushing towards autonomous and even self-driving cars. Some of the world’s top automakers have also committed to increasing the number of autonomous vehicles on the road. But while autonomous cars might be the future, they won’t be the present. That’s because autonomous cars are still in the testing phase. So far, nobody has managed to create the perfect self-driving car. While some companies have incredibly advanced prototypes, it will take years for self-driving cars to become a common sight on the road. Automakers are aware of this and are taking a cautious approach. Some have even stated that self-driving vehicles will never be 100% safe and will always be a work in progress. Therefore, despite the hype, it’s unlikely that we will see fully autonomous cars on the road any time soon.
Blockchain could be the key to safe and reliable self-driving cars
As previously mentioned, the issue with autonomous and self-driving cars is that they aren’t 100% reliable. Nobody can guarantee that they will never cause an accident and they can’t be fully trusted. Automakers are aware of this issue and are looking to solve it by implementing blockchain technology. By using blockchain, they aim to create a tamper-proof digital car record that can be trusted and relied upon. By recording each and every detail of a vehicle’s journey, along with all the data from its sensors and cameras, a blockchain network would create a complete history of a vehicle. This means that if an accident does occur, investigators will have a reliable source of information to refer to.
There are many reasons why the electronic toll collection market will grow over the next few years. One of these reasons is the increased usage of connected cars, which allows drivers to pay for toll roads using their vehicle’s onboard computer. This means that drivers don’t have to stop and manually pay for tolls. Other reasons include the introduction of more open-road tolling on highways that don’t require drivers to stop. This will also increase the number of people using toll roads, which will increase revenue for ETC companies. Finally, the rise of self-driving cars could also mean more drivers trust autonomous vehicles and thus use toll roads more often.