According to the latest report by IMARC Group, titled “Automated Fare Collection Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, The global automated fare collection market reached a value of US$ 6.3 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 11.4% during 2021-2026.
Industry Definition and Application:
The automatic fare collection (AFC) refers to a ticketing system used in public transport and enables the payment for a fare through vending machines and online services. It consists of depot/station computers, central clearing house, fare media, back-office systems, and devices to read/write media. AFC systems conduct reliable, integrated and accurate fare collection to maintain a smooth passenger flow at peak hours. They offer various benefits, including reduced fraud chances, decreased cash payments, low investment costs, and a seamless customer experience.
Request Free Sample Report: https://www.imarcgroup.com/automated-fare-collection-market/requestsample
Automated Fare Collection Market Trends:
The growing need for an integrated system for ticketing in public transport networks is primarily fueling the global AFC market growth. The increasing establishment of smart city projects across the globe is further escalating demand for efficient AFC systems. Besides this, the rising requirement for an interoperable fare management system in multi-operator public transports is driving the market growth. Moreover, the increasing utilization of contactless bank cards, particularly in developing nations, is creating a positive outlook for the AFC market.
Automated Fare Collection Market 2021-2026 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Advanced Card Systems Limited (HNA Technology Investments Holdings)
- Atos SE
- Cubic Corporation
- Indra Sistemas SA
- Nippon Signal Co. Ltd.
- NXP Semiconductors N.V.
- Omron Corporation
- Scheidt & Bachmann GmbH
- Siemens AG, Sony Corporation
- Thales Group
The report has segmented the market on the basis of component, system type, technology, application and region.
Breakup by Component:
- Software and Services
Breakup by System Type:
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
Breakup by Technology:
- Smart Card
- Magnetic Stripe
- Near Field Communication (NFC)
Breakup by Application:
- Railways and Transportation
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico Others)
- Middle East and Africa
Ask Analyst and Browse Full Report with TOC List of Figure: https://www.imarcgroup.com/request?type=report&id=2574&flag=C
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive mapping of the competitive landscape
Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Address: 134 N 4th St. Brooklyn, NY 11249, USA
Follow us on Twitter: @imarcglobal