The Global Automated Fare Collection (AFC) System Market was valued at USD 9.2 billion in 2020 and is projected to reach USD 16.82 billion by 2028, at a CAGR of 13.6% during the forecast period. AFC is a technology that automates the booking system or fare collecting. This method boosts the ticketing system and transaction rate efficiency even further. End consumers will benefit from the development of these solutions. Smart cards, electronic payment, and contactless technology, when combined with automatic fare collection, help to reduce the costs associated with manual ticketing. The growing desire for speedier payment processes, owing to an increase in the number of daily commuters, has boosted the demand for speedy payment solutions across the country. Additionally, the government is implementing numerous crucial initiatives for the growth of rapid transportation solutions in India, particularly in Tier-I and Tier-II cities, through smart city development projects. The automated fare collection systems market has seen increased expansion in recent years due to the rapid development of transportation solutions.
The report offers insightful information about the market dynamics of the Automated Fare Collection System market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Automated Fare Collection System market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Automated Fare Collection System market.
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The study’s scope includes a rating of main service providers, profits and pricing in key market segments utilizing business scenarios. The Automated Fare Collection System research study also investigates the supply chain and industry dealers in depth. The market study also considers a number of crucial elements that influence the global industry’s growth. The report also provides a statistical picture of the global industry, indicating the number of external and internal driving and restraining factors. The Automated Fare Collection System Market Research study’s will feature a large amount of unique data. A number of Automated Fare Collection System industry professionals and key opinion leaders also do extensive quantitative and qualitative research in order to obtain a better understanding of the market and industry performance.
The report provides a comprehensive analysis of company profiles listed below:
Thales
Scheidt & Bachmann GmbH
OMRON Corporation
NXP Semiconductors.
LG CNS.
LECIP HOLDINGS CORPORATION
Atos SE
Cubic Corporation
Type Analysis of World Wide Automated Fare Collection System Market:
Ticket Office Machine (TOM)
Ticket Vending Machine (TVM)
Segmentation of global Automated Fare Collection System Market by Application:
Train
Bus
Toll
Car Rentals
Others
The study report offers a comprehensive analysis of Automated Fare Collection System Market size across the globe as regional and country level market size analysis, CAGR estimation of market growth during the forecast period, revenue, key drivers, competitive background and sales analysis of the payers. Along with that, the report explains the major challenges and risks to face in the forecast period. Automated Fare Collection System Market is segmented by Type, by Application, Players, stakeholders and other participants in the global Automated Fare Collection System Market will be able to gain the upper hand as they use the report as a powerful resource.
Global Automated Fare Collection System Market segment by Region/Country including:
• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Spain etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
• South America (Brazil, Argentina and Colombia etc.)
• Middle East & Africa (South Africa, UAE and Saudi Arabia etc.)
Scope of this Report:
• This report segments the global Automated Fare Collection System market comprehensively and provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions.
• The report helps stakeholders understand the pulse of the Automated Fare Collection System market and provides them with information on key market drivers, restraints, challenges and opportunities.
• This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem, new product development, agreement and acquisitions.
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This research report gives detailed data about the major factors influencing the growth of the Automated Fare Collection System market at the global level forecast of the market size, in terms of value, market share by region and segment, regional market positions, segment and country opportunities for growth, Key company profiles, SWOT Analysis, product portfolio and growth strategies. In this report, the market’s essential sides such as top participants, expansion strategies, business models and other market features to improve Automated Fare Collection System market insight.
