Automated
Fare Collection Market Size and Growth Rate:
Automated Fare Collection System
Market is expected to reach USD 10.09 billion by 2022 growing at a CAGR of
13.19% during the forecast period 2017 to 2022.
Automated
Fare Collection Market Overview:
New operators such as electronic fare
group organizations can look for the majority of the car manufacturing market
across the world, linked with the increasing interest for e-payment solutions.
App-based car rental and known transportation are likely to be a significant
bearing within the business.
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Automated Fare Collection Market @
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Automated
Fare Collection Market Growth Drivers and Restraints:
There are some other factors that can
be hindering the automated fare collection system market such as the leading
installation price and combination effects. Those difficulties can be resolved
with changing technologies and the bulk of normal dealer engagement.
Circumstances such as an improvement
for enhanced efficiency, smartphones, reduced frauds, flexible fare plans, and
enhanced security system strengthen the completion of automated fare collection
system business. Nevertheless, large installation and subsistence expenses of
an automated fare collection system hamper the business growth. Opportunities
such as an improvement in large speed of public transport, increase of
technology payment, and global interoperability are expected to foster
automated fare collection system market extension.
Geographical Analysis of Automated
Fare Collection Market:
Based on the geography, the world
market has preponderance in Europe and Asia Pacific nations, wherever the
community of smart transport operations is supporting to produce more
comprehensive treatment scope for automatic fare collection vendors. At each
corresponding period, the combination of solid electronic ration selection
systems can allow meaningful changes in the transport networks that previously
survive.
North America is supposed to be the
important region for this business due to the huge spending on support over the
projected years. Technological advancements in the U.S, the settled standards
and the market for available services, are expected to perform an important
role in feeding global business demand. Moreover, the government of China,
India, and others are concentrating on improving the transportation support and
security system, which further encourages the majority of the automated fare
collection method market
Countries such as China, India, and
Japan are projected to witness an improvement in search for automated fare
collections due to the development activities and management investment on
transportation.
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Key Players of Automated
Fare Collection Market:
Some of the important players
functioning in the global automated fare collection system market include Atos
SE, Cubic Transportation Systems, LG CNS, Advanced Card Systems Ltd., Scheldt
& Bachmann, NXP Semiconductors, Samsung SDS, Omron Corporation, LECIP
Group, and Thales Group.
Automated
Fare Collection Market Segmentation:
By
Application:
·
Rail and
Transport
·
Parking
By Service:
·
Consulting
·
System Implementation
·
Training, Support, and Maintenance
·
Managed Services
By Technology:
·
Near-Field Communication
·
Magnetic Stripes
By Industry:
·
Transportation and Logistics
·
Government
·
Media and Entertainment
·
Retail
By Region:
·
North America
·
South America
·
Europe
·
Asia Pacific
·
Middle East and Africa
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