The global Automatic Fare Collection Systems market size is expected to reach USD 8260.0 Million by 2024 expanding at a CAGR | Analysis by Top Key Vendors – Cubic, Thales, Omron, Samsung SDS

The global Automatic Fare Collection Systems Market is thoroughly analysed by covering major segments of the market. An in-depth market segmentation is covered below that reflects the vital elements included in the wearable gaming accessories market research report. According to market is projected to grow at a stellar CAGR during the period of assessment, 2019-2024.

Global Automatic Fare Collection Systems Market overview:

The report of global Automatic Fare Collection Systems Market includes the competitive landscape section which provides the full and in-depth analysis of the current market trends, changing technologies and developments that will be beneficial for the companies, which are competing in the market. The report offers an overview of revenue, demand, and supply of data, futuristic cost, and growth analysis during the projected the year.

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With the slowdown in world economic growth, the Automatic Fare Collection Systems industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Automatic Fare Collection Systems market size to maintain the average annual growth rate of 0.0630425507646 from 3580.0 million $ in 2014 to 4860.0 million $ in 2019, Market analysts believe that in the next few years, Automatic Fare Collection Systems market size will be further expanded, we expect that by 2024, The market size of the Automatic Fare Collection Systems will reach 8260.0 million $.

The Global Automatic Fare Collection Systems Market is segmented on the basis of Product Type, Application, End Use Industry and Region. On the Basis of Product Type segment, the Automatic Fare Collection Systems Market is sub segmented into Ticket Vending Machine, Ticket Office Machine, Fare Gates, IC Cards. Based on End Use Industry segment, the Automatic Fare Collection Systems Market is sub segmented into Rail & Transit Solution, Entertainment Solution. Smartphones have become an essential tool for online ticketing, thereby boosting the overall growth of the automated fare collection system market. Smartphones make purchasing of tickets easier and convenient with standalone smartphone applications for travelling in buses and railways, which fuels the market growth. It allows customers to purchase any type of ticket and make cashless payments. Nowadays, customers value the comfort of using preloaded cards for transactions to enhance transit experience of travelers.

Automated fare collection system is a contactless, end-to-end solution for collecting fare payments and replacing traditional ticketing system with automated ticketing. It comprises automatic gate machines, ticket vending machines, recharging terminals, and ticket checking machines. This system facilitates efficiency in fare collection, improves the overall transaction rate, and saves extensive amount of time, thereby, minimizes waiting time in queues and searching for cash to buy tickets. In addition, it is an easy method for revenue collection. It offers travelers to carry one card to use for all transit modes.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Furthermore, it offers a detailed description and business profiles of leading key players operating in the global regions. It includes an overview of companies, contact information, methodologies, revenue generation, and successful strategies. North America, Latin America, Asia-Pacific, Africa, and Europe have been analyzed to get better insights about target market across the globe.

Some of the major players that operate in the Global Automatic Fare Collection Systems Market are Cubic, Thales, Omron, Samsung SDS, The Nippon Signal, ST Electronics, Gunnebo, Scheidt & Bachmann, Indra Company, Shanghai Potevio Company Limited, NXP Semiconductors, United, Huaming, Advance Cards Systems, Huahong Jitong, GaoXin Modern, LECIP Group, GRG Banking, Easyway, KML Engineering Limited.

Latest Industry Updates:

Cubic Corporation :- Today announced that its Cubic Mission Solutions (CMS) business division completed National Information Assurance Partnership (NIAP) Common Criteria testing and validation for its DTECH M3X and M3-SE servers using version 8.2 of Virtual Mobility Controller (VMC) from Aruba, a Hewlett Packard Enterprise company. The M3X-APP and M3-SE-SVR4 are now listed as IPsec VPN Gateway, Wireless Local Area Networks (WLAN) Access System and Traffic Filtering Firewall solutions on the NSA CSfC Components List.

The combination of Aruba VMC with Cubic’s modular servers provides highly secure networking utilizing VPN, Wireless Lan Controller (WLC) and firewall capabilities in a small ruggedized platform that meets MIL-STD 810 and 461 test methods.

Cubic’s DTECH M3 Series servers such as the M3X-APP and M3-SE-SVR4 are a crucial component of many U.S. Department of Defense (DoD), United States Special Operations Command (USSOCOM) and international defense partners’ programs and infrastructure. The Aruba and Cubic solution allows the hyper-enabled operator to safely transmit secure/classified data over available commercial or unsecured networks. The Aruba and Cubic products validated in this process represent a best-in-class solution offering unsurpassed quality and performance.

“Common criteria validation and the inclusion of Cubic equipment on the National Security Agency (NSA) CSfC Components List marks a significant evolution in our CSfC partnering strategy. We are trusted by our most demanding customers to provide a reliable and secure solution for their most challenging missions,” said Mike Barthlow, senior vice president and general manager, Rugged IoT, Cubic Mission Solutions. “This milestone represents an important step forward in our commitment to both the CSfC program and to our broad base of DoD customers with secure wireless needs.”

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Table of Contents:

Global Automatic Fare Collection Systems Market Report 2019

1 Automatic Fare Collection Systems Definition

2 Global Automatic Fare Collection Systems Market Major Player Share and Market Overview

3 Major Player Automatic Fare Collection Systems Business Introduction

4 Global Automatic Fare Collection Systems Market Segmentation (Region Level)

5 Global Automatic Fare Collection Systems Market Segmentation (Product Type Level)

6 Global Automatic Fare Collection Systems Market Segmentation (Industry Level)

7 Global Automatic Fare Collection Systems Market Segmentation (Channel Level)

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