June 02, 2023
Recently, National Development and Reform Commission and Ministry of Communications published "Implementation Plan to Accelerate Implementation of Electronic Continuous Express Express Toll Service" which has drawn attention of all walks of life to ETC industry. . The policy states that by end of this year, number of ETC users across country will exceed 180 million, full ETC coverage will be achieved at expressway toll booths, ETC lanes will become main toll lanes, trucks will be tolled without parking. , and high rate of non-stop tolls on expressways will reach 90%. Above, all manual toll lanes support electronic toll collection methods such as mobile payment.
In past, car owners not only had to make an appointment in advance and go to a designated location to stand in a long line to apply for an ETC, but they also had to provide a lot of relevant information and spend hundreds of dollars to buy an OBU. Next, free ETC, such as "direct online processing of small program application, free installation of ETC equipment, only 4.6% discount on road fees, and free delivery of 200 yuan fuel card", etc., free ETC information from major banks and financial institutions at a time Swipe screen with your friends.
ETC contributes to industry explosion
A report by Hua Chuang Securities Research shows that policy-driven ETC market is expected to increase space to more than 10 billion, and companies associated with it are expected to benefit significantly.
1. ETC multifunctional and intelligent terminals
On one hand, despite active development of ETC at present time, use of ETC is still sporadic and only useful for highway driving, so many people are not very interested in using ETC. However, with popularization and development of ETC in future, ETC will be integrated with car applications such as driving recorder, reversing radar and GPS navigation to form a single car intelligent module to meet needs of future car development. On other hand, integration of ETC and Internet will also provide car owners with online financial services and traffic information services to achieve diversified interoperability.
2. The combined operation of entire ETC network forms network mode of operation
Currently, ETC lane plans adopted in different provinces of my country are diverging, and it is difficult for users across country to create a single interface, and travel between provinces does not go smoothly. In future, a standardized model of ETC operation will inevitably be formed. The huge market created by upgraded layout is absolutely good news for ETC system integrators, engineering companies and OEMs.
3. Promoting ETC payments
ETC stands for intelligent integration of cars and transport. It has two main functions: automatic vehicle identification and electronic payment for transport. The electronic payment function of ETC in transportation, combined with Internet technology, integrates resources of automotive aftermarket market and can promote ubiquity of ETC in automobile, vehicle and personal consumption scenarios such as parking, refueling, car washing, illegal payment of tolls. , public transport, online shopping, etc., thus forming an ETC-based car life payment system that permeates every aspect of our lives.
4. ETC Bank Express Service
The policy of country immediately led to rapid growth of ETC banking assets. At same time, car owners who know how to run an ETC business are also high-quality potential customers for banks. These high-quality resources can become key learning objects for development of banking property. It can be said that whoever borrows more ETC client resources has more wealth.
The prospects for development of ETS are not in doubt, but subject matter experts note that from point of view of existing technical level, ETS still have adjacent channel interference, openness of clearing and settlement system, personalized service problems and initial costs are actual factors limiting its development. It can be foreseen that whoever can solve these practical problems in future will be able to catch up with ETC dividend period and get rich.
