Global Automated Fare Collection Market was valued US$ XX Bn in 2018 and is expected to reach US$ 22.60 Bn by 2026, at a CAGR of around XX % during a forecast period.
Global Automated Fare Collection Market
Automatic fare collection (AFC) System is a station equipment that involves automatic ticket checking. Nowadays, integrated platforms are essential to keep passenger flow run easily at all data purposes to be collected and transmitted into the center.
Increasing the implementation of digital technologies to develop transaction processing speed and to reduce problems related to cash handling and automatic ticket managing are expected to driving factors in the market. Moreover, the fare collection equipment in other sectors in developing economies will provide ample opportunity for this market.
Based on the component, the hardware segment is held dominated by XX% market sharing during the forecast period, owing to an improved quantity of deployments of automatic fare collection novel systems by managements across the domain to provide larger public transportation services. Hardware electronics, such as automobile processors, bus controller components, and portable ticketing devices, which are required for effective application in the systems are key factors that are going to change the market dynamics.
Smart card technology segment expected to dominate the XX% market share during the forecast period. The smart cards segment is to provide authentication, data storage, and application processing. Smart cards are normally used in applications that need secure transactions and protect personal information for instance credit cards and another form of a payment card, and transportation fare payment cards. Its improved operating flexibility and quicker processing speed than magnetic stripe cards.
Regionally, North America is expected to account for the largest share of the automatic fare collection market during the forecast period. North America region has been a particularly competitive market with respects to the assumption of automatic fare collection solutions across major business applications. This region has been most responsive to adopting the latest technological developments, such as near field communication and magnetic stripes. Furthermore, severe government values and regulations bounded for various businesses have also driven the growth of this region.
The objective of the report is to present a complete calculation of the Global Automated Fare Collection Market and contains thoughtful insights, historical data, facts, industry-validated market data and plans with a suitable set of assumptions and methodology. The report also helps in the Global Automated Fare Collection Market is a dynamic structure by identifying and analyzing the market segments and project the global market size. The additional, report also focuses on the competitive analysis of key player’s by-product, financial position, price, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment shortly to the emerging segment in the Global Automated Fare Collection Market.
Scope of the Global Automated Fare Collection Market
Global Automated Fare Collection Market By Component
Global Automated Fare Collection Market By Technology
• Smart Card
• Magnetic Stripe
• Near Field Communication (NFC)
• Optical Character Recognition (OCR)
Global Automated Fare Collection Market By Applications
Global Automated Fare Collection Market By Systems
• Ticket Vending Machine (TVM)
• Ticket Office Machine (TOM)
• Fare Gates
• IC Cards
Global Automated Fare Collection Market By Vertical
• Transportation and logistics
• Media and entertainment
Global Automated Fare Collection Market By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Global Automated Fare Collection Market Key players
• Cubic Corporation
• Indra Sistemas SA
• Thales Group
• ST Electronics
• Atos SE
• Longbow Technologies
• Samsung SDS
• Advanced Card Systems Holdings Limited
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