Press release
Automated Fare Collection System Market - Huge Profitable Business & Next Big Thing To Adhering Social/Physical Distancing Considering Covid-19 Pandemics
The global interoperability feature of smartcards fosters the growth of the automated fare collection system market. It includes a single card that can be used for many modes of transport including taxis, cars, buses, ferries, and others, globally. Octopus Cards Ltd. (OCL) and Shenzhentong Co. Ltd. (SZT) launched Hu Tong Xing card that is compatible with Hong Kong readers as well as Shenzhen card readers. This two-in-one card provides greater convenience to residents of both the regions. The global acceptance of Hu Tong Xing type of cards is expected to increase the adoption of AFC systems.Get detailed COVID-19 impact analysis on the Automated Fare Collection System @ https://www.alliedmarketresearch.com/request-for-customization/1401?reqfor=covid
According to a recent report published by Allied Market Research, titled, "Automated Fare Collection System Market by Application, Component, Technology Platform, and others: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global automated fare collection system market size was valued at $6.03 billion in 2018, and is projected to reach $14.17 billion by 2026, registering a CAGR of 11.2% from 2019 to 2026.
Presently, the U.S. dominates the market, followed by Canada and Mexico in North America. However, Mexico is expected to grow at a higher CAGR during the forecast period. In addition, in 2018, China led the market in the Asia-Pacific region followed by Japan, India, South Korea, and rest of Asia-Pacific countries.
Download Report Sample (254 Pages PDF with Insights, Charts, Tables, Figures) @ https://www.alliedmarketresearch.com/request-sample/1401
Increase in the use of high-speed public transport and high-speed metro trains & monorails is expected to foster the growth of the market, thereby enabling high revenue generation for operators. Tickets are issued as paper tickets or electronic tickets, which can be bought either in advance or at the time of the ride which is expected to create ample number of opportunities for the key players operating in the global automated fare collection system market.
Technology payment is the type of fare media, such as cash, token, paper ticket, or mobile ticketing and equipment, which is used to collect fares. Organizations are increasingly setting a broad range of payment options to offer an easy payment method to commuters. In addition, many organizations offer one or more than one mode of multiple-ride passes and discounted multi-ride options such as 4-6 months, weekly, and daily passes. Mobile ticketing model is preferred over other modes of payment. This model comprises a registered mobile subscription, which can be either prepaid or postpaid. Traveler's identity is known by scanning his/her mobile number at the entrance or exit of a vehicle and then the amount is deducted from the balance in the mobile as per the distance travelled by the passenger, as a result of which the considerable use of smartphones offers a convenient fare payment method which is opportunistic for the market expansion.
Interested to Procure The Data? Inquire here @ https://www.alliedmarketresearch.com/purchase-enquiry/1401
The installation of automated fare collection system incurs high cost. The installation of AFCS in transport companies include installing payment collection equipment and checking devices, setting of communication network (wired networks), and installing network equipment (all kinds of networks), fixing the installed system hardware, fine-tuning and testing system hardware, and interaction between system components. This increases overall installation cost, which hinders the stated growth.
The high cost of turnstile and fare boxes results in high maintenance cost of automated fare collection systems. In magnetic fare cards, magnetic stripes can be unintentionally erased or damaged using objects such as refrigerator magnet. Moreover, large number of high skilled maintenance people result in high maintenance cost of AFC systems, which hampers the market growth.
Schedule a Call with Our Analysts/Industry Experts to Find Solution for Your Business @ https://www.alliedmarketresearch.com/connect-to-analyst/1401
Automated ticketing systems allow operators to execute variable and flexible fare plans based on time or means of travel or type of commuter. In addition, it allows operators to cater to the demands of passengers by customizing travel fare options, including unlimited ride passes, free inter-modal transfers, and discounted passes during off-peak periods or a particular mode. Thereby, it drives the growth of the automated face collection system market.
The key players profiled in the automated fare collection system market share include Alstom, Bombardier, CRRC Corporation Limited, General Electric, Hitachi Ltd., Siemens, Stadler Rail AG, The Greenbrier Companies, Inc., TRANSMASHHOLDING, and TrinityRail.
Key Findings of Automated Fare Collection System Market:
o By application, the train segment generated the highest revenue in the automated fare collection market analysis in 2018.
o Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period while considering automated fare collection market growth.
o Latin America leads the market in the LAMEA region.
o The leading companies listed in the automated fare collection system market report expects high revenue from automated fare collection system market returns.
Similar Reports Specially Prepared with Covid-19 Impact Analysis -
Covid-19 Impact Analysis on U.S. & European Automatic Toll Payment Machines @ https://www.alliedmarketresearch.com/request-for-customization/6488?reqfor=covid
Covid-19 Impact Analysis on Electronic Toll Collection @ https://www.alliedmarketresearch.com/request-for-customization/780?reqfor=covid
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Automated Fare Collection System Market - Huge Profitable Business & Next Big Thing To Adhering Social/Physical Distancing Considering Covid-19 Pandemics here
News-ID: 2038237 • Views: …
More Releases from Allied Market Research

Global Urinary Drainage Bags Market: Trends, Growth, and Insights to 2031
The global urinary drainage bags market is experiencing robust growth, with its market size valued at $1.4billion in 2021 and projected to reach $2billion by 2031. This expansion represents a compound annual growth rate (CAGR) of 3.8% from 2021 to 2031, highlighting the increasing demand for these essential medical devices.
Get a Sample Copy of this Report: https://www.alliedmarketresearch.com/request-sample/A17529
What Are Urinary Drainage Bags?
Urinary drainage bags are specialized medical devices designed to collect…

Cream Powder Market to Reach $8.9 Billion by 2031 with 6.4% CAGR
The global cream powder industry was estimated at $4.8 billion in 2021 and is expected to hit $8.9 billion by 2031, registering a CAGR of 6.4% from 2022 to 2031.
The cream powder market is experiencing growth due to various factors, including the increasing popularity of bakeries and HoReCa (hotels, restaurants, and cafes) and rising consumer demand for natural products. The dairy-based segment is a significant contributor to the market's growth…

Micro Drone Market Valued at $6.71 Billion in 2020, Expected to Reach $28.91 Bil …
The global micro drone industry generated $6.71 billion in 2020, and is expected to reach $28.91 billion in 2030, witnessing a CAGR of 17.2% from 2021 to 2030. The report provides an extensive analysis of changing market dynamics, top segments, top investment pockets, regional landscape, value chain, and competitive scenario.
Increased operational efficiency and rise in demand for improved surveillance drive the growth of the global micro drone market. However, strict…

Microwavable Foods Market to reach $230.93 billion by 2031, growing at a CAGR of …
The global microwaveable foods industry was accounted for $120.45 billion in 2020, and is expected to reach $230.93 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.
Rise in popularity of fast-food restaurants and large population base coupled with increase in number of quick-service restaurants drive the global microwaveable foods market. However, lack of awareness about microwavable foods hinders the market growth. On the contrary, rise in…
More Releases for Automated
Automated Fiber Placements And Automated Tape Laying (AFP- ATL) Machines Market …
According to Market Research Intellect, the global Automated Fiber Placements And Automated Tape Laying (AFP- ATL) Machines market under the Internet, Communication and Technology category is expected to register notable growth from 2025 to 2032. Key drivers such as advancing technologies, changing consumer behavior, and evolving market dynamics are poised to shape the trajectory of this market throughout the forecast period.
The market for automated tape laying (ATL) and automated fiber…
Ace Automated Gates | Austin Enhances Security with Premium Automated Gate Solut …
Ace Automated Gates | Austin enhances property security with premium automated gate solutions. Specializing in gate installation, repair, and advanced access control systems, they provide high-quality electric and motorized gates for residential and commercial properties. Offering expert craftsmanship and durable materials, they ensure long-lasting security and convenience.
Austin, TX - Home and business owners seeking enhanced security, convenience, and style can now rely on Ace Automated Gates | Austin [https://aceautomatedgatesaustin.com/] for…
Automated Autoinjectors Market
The "Automated Autoinjectors Market" is expected to reach USD xx.x billion by 2031, indicating a compound annual growth rate (CAGR) of xx.x percent from 2024 to 2031. The market was valued at USD xx.x billion In 2023.
Growing Demand and Growth Potential in the Global Automated Autoinjectors Market, 2024-2031
Verified Market Research's most recent report, "Automated Autoinjectors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2030," provides an in-depth examination…
Automated Journalism Market All Sets for Continued Outperformance: Automated Ins …
HTF MI introduces new research on Automated Journalism covering the micro level of analysis by competitors and key business segments (2024-2030). The Automated Journalism explores a comprehensive study of various segments like opportunities, size, development, innovation, sales, and overall growth of major players. The research is carried out on primary and secondary statistics sources and it consists of both qualitative and quantitative detailing. Some of the major key players profiled…
Automated Fiber Placements and Automated Tape Laying (AFP- ATL) Machines Market …
Automated fiber placement and automated tape laying machines are used for the fabrication of composites parts used in aerospace and defense industries. These machines help in precisely placing fiber tapes, tows and sheets on molds or cores to manufacture composite parts with high strength and lightweight properties.
Market Dynamics:
Increasing demand from aerospace and defense industry is one of the major factors estimated to boost the growth of the AFP- ATL machines…
Automated Microbiology Market - Efficiency Meets Accuracy: Redefining Microbiolo …
Newark, New Castle, USA: The "Automated Microbiology Market" provides a value chain analysis of revenue for the anticipated period from 2022 to 2030. The report will include a full and comprehensive analysis of the business operations of all market leaders in this industry, as well as their in-depth market research, historical market development, and information about their market competitors
Automated Microbiology Market: https://www.growthplusreports.com/report/automated-microbiology-market/7801
This latest report researches the industry structure, sales, revenue,…