Automated Fare Collection System Market Analysis By Global Key Players - Atos, Cubic Corporation, GMV, NXP Semiconductors, Samsung Electronics, LG Electronics, Siemens, Sony Electronics, Vix Technology

Automated Fare Collection System Market in U.S. share was over 85% of the North American revenue in 2015, and is forecast to remain the leading country over the forecast timeline. Asia Pacific automated fare collection system market size is set to surpass USD 2.5 billion by 2023, driven by growing transit projects in China and India. The availability of improved transport statistics for future infrastructure planning and service enhancements is a compelling growth driver for the industry.

Request for a sample of this research report @ www.gminsights.com/request-sample/detail/406

Automated Fare Collection (AFC) System Market size is expected to reach USD 9.84 billion by 2023; as per a new research report by Global Market Insights, Inc. Growing preference for integrated ticketing and electronic payments will drive AFC system market size in the coming years. A core component of the Intelligent Transportation System (ITS) market, this technology is expected to witness growth due to increased transport infrastructure developments globally.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & analysis:

1. Atos
2. Cubic Corporation
3. GMV
4. NXP Semiconductors
5. Samsung Electronics
6. LG Electronics
7. Siemens
8. Sony Electronics
9. Vix Technology

Positive regulatory landscape is also forecast to impel automated fare collection system market growth. Fraud prevention, improved revenue management and transport service planning capabilities are among the key benefits of implementation. Considerable advancements in communications technology and proliferation of personal mobile devices such as smartphones and tablets will favorably impact the industry. This trend is particularly prevalent in Asia Pacific, with China automated fare collection system market size forecast to surpass USD 700 million by 2023.

Make an inquiry for buying this report @ www.gminsights.com/inquiry-before-buying/406

The industry is technology-driven, with continued efforts for enhancing information safety. NFC automated fare collection system market share is set to grow at 12.3% CAGR estimations from 2016 to 2023. In addition to facilitating automated connections, the technology also provides an improved user experience. NFC can be used from point-to-point to pay-as-you-go schemes and offers multiple payment options.

Smart cards accounted for over 30% of the global revenue in 2015. These products are portable, more cost effective to manufacture than competing segments, and present low degree of complexity. It works on the premise of an embedded microchip that can write and process data in a protected environment, and can be contact-based or contactless in nature.

AFC hardware market size was over USD 2.2 billion in 2015. The software segment is likely see 10.4% CAGR growth from 2016 to 2023. Considerable support is provided by independent software companies and developers, this includes DBMS (database management systems), SDK (software development kits), server solutions, mobile platforms, middleware, etc. Together these constitute a key part of the overall system efficiency in addition to facilitating the running of devices across the entire network.

Browse Full Reports: https://www.gminsights.com/industry-analysis/automated-fare-collection-AFC-system-market

Major hardware includes booking office machines, Ticket Vending Machines (TVM), handheld and mobile terminals, fare gates, etc. The segment is expected to grow at 10.3% CAGR from 2016 to 2023.

Based on the usage location, these products can be categorized into on-board and off-board equipment. Consumables include proximity cards, flash pass, ticket personalization equipment, etc.

Intelligent AFC systems are capable of estimating the best fare on the basis of parameters such as relevant discounts, prior journey logs, and travel length. Transparent fee collection methods help significantly boost customer satisfaction and bring value to transport authorities and end users.

Major companies accounting for automated fare collection system market share are Major companies accounting for automated fare collection system market share are Advanced Card Systems, Atos, Cubic Corporation, Fare Logistics, GMV, LG Corporation, NXP Semiconductors, Omron Corp, Samsung, Scheidt & Bachmann, Siemens, Sony Electronics, Singapore Technologies Electronics Limited, Thales Group, Trapeze Group, and Vix Technology.

Browse Related Reports: https://www.gminsights.com/industry-analysis/electronic-shelf-label-esl-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com

This release was published on openPR.