Automated Fare Collection System Market Segmented By Technology, Component And Geography To 2024

The report offers complete insights of Automated Fare Collection System Market based on historical study and evaluates future projections for the period 2017-2024. Further, the report covers current market share, growth, trends and forecast for the involved market segments along with the impact of drivers & restraints and potential opportunities for these segments. The report also analyses the competitive profiling of major players including their company overview, financials, product portfolio and recent developments.

View More About this Report @ http://www.decisiondatabases.com/ip/964-automated-fare-collection-system-market-report

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.

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. Technology segments global automated fare collection system market into OCR, magnetic strip, NFC and smart cards. Hardware and software are basic components in which data and operational technology is mounted to work according to user expectations.

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.

Get FREE Sample Report Copy @ https://www.decisiondatabases.com/contact/download-sample-964

Key players in the global automated fare collection system market are Scheidt & Bachmann GmbH, NXP Semiconductors, Omron Corporation, ST Electronics, Thales Group, Trapeze Group, Atos SE, Cubic Transportation Systems, Vix Technology and Advanced Card Systems Ltd. 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
- NFC
- OCR

2.Automated Fare Collection System By Component:
- Hardware
- Software

Buy Complete Global Automated Fare Collection System Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-964

About-Us:

DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics. DecisionDatabases.com is proficient in providing syndicated research report, customized research reports, company profiles and industry databases across multiple domains.

Our expert research analysts have been trained to map client’s research requirements to the correct research resource leading to a distinctive edge over its competitors. We provide intellectual, precise and meaningful data at a lightning speed.

3rd Floor,Fountain chambers,
Nanabhai Lane,Fort, Mumbai - 1
E-Mail: sales@decisiondatabases.com
Phone: +91 99 28 237112
Web: www.decisiondatabases.com

This release was published on openPR.