The report on the Global Automated Fare Collection System Market gives an estimation of the development of the market based on historical studies and also provides forecasts on the basis of a comprehensive research. The report gives a complete market analysis for the forecasted period from 2020 to 2026. The market is divided into various segments with an in-depth outlook of the competitors and a listing of the profiled key players. The market size in terms of revenue (USD MN) is calculated and provided for the study period along with the dynamics of the market such as the drivers and the restraints.
Automated fare collection (AFC) system is an automated technique used to facilitate ticketing services. This system is an efficient technique which provides comfortable and easy to use technology to the travelers. It is a method which employs e-ticketing technology, smart cards, debit and credit card technology and magnetic strip detector technology to make ticket vending efficient fast and queue free.
Major reason behind adoption of AFC technology by government organizations is to encourage travelers to use public transport like trains, buses, trams and metros. It is a merged ticketing system which helps customers to use multiple travelling mediums on a single ticket. Based on component global automated fare collection system market is segmented into software and hardware. Technology segments global automated fare collection system market into OCR, magnetic strip, NFC and smart cards. Hardware and software are basic components in which data and operational technology is mounted to work according to user expectations.
Increased use of smart card technology and online payment methods prominently drives the global automated fare collection system market. High demand for queue free and automated ticketing system by the huge population using rail transport in the developing regions like India is a major factor to escalate rapid growth for this market. Efforts made by government and integrated institutions to provide better services to its people to encourage use of public travel means is expected to be leverage for the growth of this market. High installation cost of automated system is a major restraint of the global automated fare collection system market.
This report is segmented on the basis of geography as North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America and Europe are the leading regions of this market owing to the high infrastructural development by government organizations. Asia Pacific is expected to show rapid market growth. High dependency of people in region like India and on railway travel significantly supports market growth. China and Japan also help in the growth of Asia Pacific. Latin America and MEA are emerging regions for this market.
The report also covers the complete competitive landscape of the global Automated Fare Collection System market with company profiles of key players such as:
- Scheidt & Bachmann GmbH
- NXP Semiconductors
- Omron Corporation
- ST Electronics
- Thales Group
- Trapeze Group
- Atos SE
- Cubic Transportation Systems
- Vix Technology
- Advanced Card Systems Ltd.
SEGMENTATIONS IN REPORT:
Automated Fare Collection System By Technology
- Smart Cards
- Magnetic Strip
- NFC
- OCR
Automated Fare Collection System By Component
Automated Fare Collection System By Geography
- Asia Pacific
- North America
- Europe
- Latin America
- Middle East And Africa
The Global Automated Fare Collection System Market has been exhibited in detail in the following chapters -
Chapter 1 Automated Fare Collection System Market Preface
Chapter 2 Executive Summary
Chapter 3 Automated Fare Collection System Industry Analysis
Chapter 4 Automated Fare Collection System Market Value Chain Analysis
Chapter 5 Automated Fare Collection System Market Analysis By Technology
Chapter 6 Automated Fare Collection System Market Analysis By Component
Chapter 7 Automated Fare Collection System Market Analysis By Geography
Chapter 8 Competitive Landscape Of Automated Fare Collection System Companies
Chapter 9 Company Profiles Of Automated Fare Collection System Industry