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Automated Fare Collection System Market - Forecast to 2026

Automated Fare Collection System Market

Automated Fare Collection System Market

According to a new market research report published by Global Market Estimates, the Automated Fare Collection (AFC) System Market is projected to grow from USD 7.01 billion in 2021 and is expected to reach USD 13.02 billion by 2026 at a CAGR of 12.01% from 2021 to 2026.
Growing cashless travel options and a shift towards open road tolling are important drivers of market growth during the forecast period.

Browse 151 Market Data Tables and 111 Figures spread through 181 Pages and in-depth TOC on “Global Automated Fare Collection (AFC) System Market - Forecast to 2026" https://www.globalmarketestimates.com/market-report/automated-fare-collection-afc-system-market-3603

By Component (Hardware, Software), By Technology (Smart Card, Magnetic Stripe, Near Field Communication (NFC), Optical Character Recognition (OCR)), By System (Ticket Vending Machine (TVM), Ticket Office Machine (TOM), Fare Gates, IC Cards), By Application (Railways & Transportation, Parking, Entertainment, Others), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa), Competitive Landscape Company Market Share Analysis, and Competitor Analysis

Key Market Insights
• Increased use of digital payment, real-time purchases, and digital wallet portals, such as debit card, credit card, and Near Field Communication (NFC) payment applications, are anticipated to fuel market expansion.
• The smart card technology segment is anticipated to have the largest share in the market owing to its greater operational versatility and information processing as compared to magnetic stripe cards as per technology outlook.
• The ticket vending machine (TVM) segment as per system outlook, is anticipated to have the largest share in the market due to the increased dependability and correctness of operations carried out by autonomous machines.
• As per the application type outlook, railways and transportation segment are anticipated to witness the largest share due to the rapid proliferation of railway infrastructure, motorway networks, and expressway development in a number of countries.
• Cubic Corporation, Advanced Card Systems Ltd., Indra Sistemas SA, Atos SE, GMV, LG CNS, LECIP Holdings Corporation, Omron Corporation, Masabi Ltd., NXP Semiconductors N.V., Nippon Signal Co., Ltd., Scheidt & Bachmann GmbH, Samsung SDS Co. Ltd., among others, are the key players in the automated fare collection (AFC) system market

Browse the Report @ https://www.globalmarketestimates.com/market-report/automated-fare-collection-afc-system-market-3603

Component Outlook (Revenue, USD Billion, 2021-2026)
• Hardware
• Software

System Outlook (Revenue, USD Billion, 2021-2026)
• Ticket Vending Machine (TVM)
• Ticket Office Machine (TOM)
• Fare Gates
• IC Cards

Technology Outlook (Revenue, USD Billion, 2021-2026)
• Smart Card
• Magnetic Stripe
• Near Field Communication (NFC)
• Optical Character Recognition (OCR)

Application Outlook (Revenue, USD Billion, 2021-2026)
• Railways & Transportation
• Parking
• Entertainment
• Others

Regional Outlook (Revenue, USD Billion, 2021-2026)
North America
• The U.S.
• Canada
• Mexico
Europe
• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of APAC
Central & South America
• Brazil
• Argentina
• Rest of CSA
Middle East & Africa
• Saudi Arabia
• UAE
• Rest of MEA

Contact: Yash Jain
Email address: yash.jain@globalmarketestimates.com
Phone Number: +16026667238
Website: https://www.globalmarketestimates.com
Check our Latest Blogs: https://www.globalmarketestimates.com/blog-posts.php

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Global Market Estimates is an India based market research and consulting company. The company provides syndicated research reports, customised research reports and consulting services to their clients and helps them achieve their business goals on a commercial level. Global Market Estimates database is used by the world's well known and prolific academic institutions and Fortune 500 companies to understand the global and regional business environment to excel in their business goals.

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