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.
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This Survey report covers the major market insights and industry approach toward growth in the upcoming years. The Automated Fare Collection System market report presents data and information on the development of the investment structure, technological improvements, market trends and developments, capabilities and comprehensive information on the key players of the Automated Fare Collection System market. The worldwide market strategies undertaken, with respect to the current and future scenario of the industry, have also been listed in the study.
The study addresses the elements driving the worldwide Automated Fare Collection System Market. Traders and investors can use this data to strategize to increase market share and newcomers can use it to locate opportunities and grow in the business. There are also some restrictions on the expansion of this market. The Automated Fare Collection System Market study also provides company biographies, SWOT analysis and business strategies for major industry players. In addition, the research focuses on key industry players, providing details such as business descriptions, skills, current financials and company advancements.
The report begins with a brief presentation and overview of the Automated Fare Collection System market, about the current market landscape, market trends, major market players, product type, application and region. It also includes the impact of COVID-19 on the global Automated Fare Collection System market trends, future forecasts, growth opportunities, end-user industries and market players. It also provides historical data, current market scenarios and future insights into the Automated Fare Collection System market. This study provides a comprehensive understanding of market value with the product price, demand, gross margin and supply of the Automated Fare Collection System market. The competitive perspective section of the report presents a clear insight into the market share analysis of the major players in the industry.
Global Automated Fare Collection System Market Segmentation:
The key players covered in this study
Thales
Scheidt & Bachmann GmbH
OMRON Corporation
NXP Semiconductors.
LG CNS.
LECIP HOLDINGS CORPORATION
Atos SE
Cubic Corporation
Market segment by Type, the product can be split into
Ticket Office Machine (TOM)
Ticket Vending Machine (TVM)
Market segment by Application, split into
Train
Bus
Toll
Car Rentals
Others
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The key points of the report:
1. The report provides a basic overview of the industry including its definition, applications and manufacturing technology.
2. The report explores the international major industry players in detail. In this part, the report presents the company profile, product specifications, capacity, production value, market shares for each company.
3. Through the statistical analysis, the report depicts the global total market of Automated Fare Collection System industry including capacity, production, production value, cost/profit, supply/demand import/export.
4. The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
5. The report then estimates 2022-2028 market development trends of Automated Fare Collection System industry. Analysis of upstream raw materials, downstream demand, and current market dynamics is also carried out.
6. The report makes some important proposals for a new project of Automated Fare Collection System Industry before evaluating its feasibility.
The new Automated Fare Collection System Market report offers a comprehensive study of the current scenario of the market including major market dynamics.
Also, it highlights the in-depth marketing research with the newest trends, drivers, and segments with reference to regional and country.
Further, this report profiles top key players and analyze their market share, strategic development, and other development across the world.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the automated fare collection system market include Advanced Card Systems Ltd., Atos SE, Cubic Transportation Systems, NXP Semiconductors, Omron Corporation, Scheidt & Bachmann GmbH, ST Electronics, Thales Group, Trapeze Group and Vix Technology.
An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global Automated Fare Collection System Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/automated-fare-collection-system-market/download-sampleMarket DynamicsThe automated fare collection (AFC) system market is estimated to grow mainly due to the rise in the adoption of cashless fare collection system for transportation modes across all the developed and developing regions.
Further, growing intelligence in the transportation sector along with rising investment by government in order to improve the infrastructure of the transport system is again propelling the market growth.
