Automated Fare Collection System Market Size, Share, Forecast Report, 2020-2027

Warning: DOMDocument::loadHTML(): htmlParseEntityRef: expecting ';' in Entity, line: 13 in /home/multiwpmr/public_html/report-details.php on line 448
The report provides rational insights along with historical and forecast data to aid in better understanding of the Global Automated Fare Collection System Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of the Automated Fare Collection System market. This study also provides a detailed overview of the opportunities along with the current trends observed in the target market.

The automated fare collection system market size was valued at $5.39 billion in 2017, and is projected to reach $14.17 billion by 2026, registering a CAGR of 11.2% from 2019 to 2026.

Automated fare collection system is a contactless, end-to-end solution for collecting fare payments and replacing traditional ticketing system with automated ticketing. It comprises automatic gate machines, ticket vending machines, recharging terminals, and ticket checking machines. This system facilitates efficiency in fare collection, improves the overall transaction rate, and saves extensive amount of time, thereby, minimizes waiting time in queues and searching for cash to buy tickets. In addition, it is an easy method for revenue collection. It offers travelers to carry one card to use for all transit modes.

The report covers major players operating in the market along with the key strategies implemented to achieve a competitive edge against a majority of the vendors which provides a competitive outlook of the industry. The competitive landscape further includes details about different players and their position on a global and a local level is also explained in detail in this compiled study. These insights were prepared through mapping business strategies and products that offer high revenue generation capacities. Key players of the global Automated Fare Collection System market are included as given below:

� Atos SE

� Cubic Transportation Systems, Inc.

� dormakaba Holding

� LECIP Group

� LG CNS

� NXP Semiconductors

� OMRON Corporation

� Samsung SDS

� Scheidt&Bacchhan Gmbh

� Thales Group

The global Automated Fare Collection System market has been segmented as below:

By Application

� Bus

� Toll

� Train

� Car Rental

By Component

� Hardware

� Software

By Technology Platform

� Smart Card

� Near Field Communications

� Optical Character Recognition (OCR)

� Others (Magnetic Strips and Bar Codes)

By Region

� North America

o U.S.

o Canada

o Mexico

� Europe

o UK

o Germany

o France

o Spain

o Russia

o Rest of Europe

� Asia-Pacific

o China

o India

o Japan

o South Korea

o Rest of Asia-Pacific

� LAMEA

o Latin America

o Middle East

o Africa

Reasons to Purchase this Report:

Estimates Automated Fare Collection System development trends with SWOT analysis

� Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players

� Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market's expansion

� Market dynamics scenario, along with growth opportunities for players in the years to come

� Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the mentioned forecast period

� Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects