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Automated Fare Collection Market Analysis, Size, Share - Global Industry Report, 2024 | Hexa Research

The automated fare collection (AFC) system market is anticipated to grow significantly from 2016 to 2024 owing to its increased usage in public transport. AFC system provides easy, efficient solution by eliminating manual fare collection. It has helped in reducing customer waiting time for buying tickets. Fare collection has evolved from cash, tickets, tokens, monthly passes to AFC. It consists of automatic gate equipment, ticket vending machines, & checking terminals.

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Automated Fare Collection Market Analysis, Size, Share - Global Industry Report, 2024 | Hexa Research

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  1. Hexa Research Fact-based market research, penetrating industry insights and validated forecasts to help you make better decisions for a stronger future Automated Fare Collection Market Research Report - Global Industry Analysis, Growth and Forecast to 2024: Hexa Research The automated fare collection market is anticipated to be valued beyond USD 8.5 billion by 2024. Automated fare collection systems are the combined modules, which facilitate the automated ticketing system for public transportation network. They offer a constant and incorporated platform for all the actions concerned with the fare gathering with equipment such as ticket checking machine, ticket vending machine, and automatic gate machine. These systems are chiefly used in a several high transit areas counting huge commercial workplaces, government buildings, and public transport ports. The increasing demand for proficient, automated, and tranquil transportation is spurring the requirement for automated fare collection systems. Contact: +1-800-489-3075 Email : sales@hexaresearch.com Website: http://www.hexaresearch.com/

  2. Hexa Research Fact-based market research, penetrating industry insights and validated forecasts to help you make better decisions for a stronger future Browse Detail Report@ https://www.hexaresearch.com/research-report/automated-fare-collection-afc- system-market The escalating focus on improving the transport infrastructure, safety measures, and simplicity for the purchaser is likely to stimulate the industry growth in the near future. However smooth revenue collection and initial high cost of setting up can influence the automated fare collection systems, thereby, propelling the overall market demand during the forecast period (2016-2024). The global market can be segmented by technologies, components, systems, system components, and regions. Technologies are magnetic strip, smart Card, NFC, and OCR. Components consist of hardware software. Systems include fare gates, ticket vending machine, ticket office machine, and IC cards.Market systems components are ticket vending machine by component, ticket office machine by component, fare gates by component, and IC cards by components. Key regional segments in the market comprise North America, Europe, Asia-Pacific, the Middle East & Africa (MEA), and Latin America. Europe dominates the total AFC market and is strongly followed by the North American market due to a developed transportation communications. The overall automated fare collection market is extremely competitive in nature. The key manufacturers are NXP Semiconductor, Omron Corporation Thales Group, LG Corporation, Advance Cards Systems, Fare Logistics, and Samsung SDS. Strategic mergers & acquisitions and partnerships and are projected to be the most successful strategies for market players to acquire a competitive benefit in the promising markets. Also, this will potentially augment their technological capability. There has been a Contact: +1-800-489-3075 Email : sales@hexaresearch.com Website: http://www.hexaresearch.com/

  3. Hexa Research Fact-based market research, penetrating industry insights and validated forecasts to help you make better decisions for a stronger future novel trend of partnerships among the transit service suppliers and product makers for the integration and interoperability of systems. Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/automotive-and-transportation- industry About Us: Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives. Contact Us: Ryan Shaw Hexa Research Felton Office Plaza 6265 Highway 9 Felton, California 95018 United States Phone: +1-800-489-3075 Email: sales@hexaresearch.com Website - http://www.hexaresearch.com/ Follow us on Linkedin: https://www.linkedin.com/company/hexa-research Contact: +1-800-489-3075 Email : sales@hexaresearch.com Website: http://www.hexaresearch.com/

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