Automated Fare Collection System Market Trends, Growth Analysis and Forecasts 2014 to 2021
Research Report on Global Automated Fare Collection System Market 2014 to 2021 added by DecisionDatabases.com studies the current and upcoming Market Size, Share, Demand, Growth Trend and Forecast.
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.
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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.
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Major player assessed in the report is :
– Scheidt & Bachmann GmbH
– NXP Semiconductors
– Omron Corporation
– ST Electronics
– Thales Group
– Trapeze Group
– Atos SE
– Cubic Transportation Systems
– Vix Technology
– Advanced Card Systems Ltd.
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.
SEGMENTATIONS IN REPORT :
1. Automated Fare Collection System By Technology :
– Smart Cards
– Magnetic Strip
2. Automated Fare Collection System By Component :
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