Tag Archives: Automated Fare Collection Market

Automated Fare Collection Market Growth To Be Driven By Enhanced Demand In Railways,Taxi Services, Road Charging, Rental Cars, Airports Sectors Till 2025:Grand View Research,inc.

The global¬†automated fare collection (AFC) market¬†is expected to reach USD 10.74 billion by 2025 according to a new report by Grand View Research, Inc. Automated fare collection systems are the collective components which enable the automated ticketing system for public transportation network. They provide a stable and integrated platform for all the activities regarding the fare collection with equipment like automatic gate machine, ticket vending machine, and ticket checking machine. Automated fare collection systems are used in a number of high transit areas including government buildings, large commercial workplaces and public transport ports. The growing demand for an …

Automated Fare Collection Market is the automated ticketing systems designed for transportation networks

Automated fare collection system is the combination of components which automates the ticketing process in the transportation network. The automated fare collection market has been segmented by technology into smart cards, magnetic strips, NFCs (Near field communication) and OCR (Optical character recognition). The market by component type has been segmented into software and hardware. The automated fare collection market by industrial application has been segmented into bus, toll, car rental, train, e-payment and others. The use of AFC helps in reduction of operational cost and improves the transaction rate of the ticketing system in transportation systems. The AFC system also