Decreased Chance of Fraud and Counterfeiting Inputs Growth of the Automated Fare Collection System Market

According to a new market research report launched by Inkwood Research, the Global Automated Fare Collection System Market is set to progress with a CAGR of 11.63% and generate a revenue of $21652.05 million during the forecast period of 2023-2032.

This insightful market research report by Inkwood Research focuses on market trends, leading players, supply chain trends, technological innovations, key developments, and future strategies. The report covers all the aspects of this comprehensive market by assessing major geographies and is a valuable asset for existing players, new entrants, and future investors. The study presents a detailed market analysis, with inputs derived from industry professionals across the value chain.

Refer to the Report Summary Here: https://inkwoodresearch.com/reports/automated-fare-collection-system-market/?utm_source=PaidPRNew&utm_medium=OpenPR&utm_campaign=InkwoodPR

The Germany automated fare collection system market is expected to grow with a CAGR of 11.28% during the estimated period, capturing a revenue share of $941.24 million by 2030. The base year considered for the market study is 2022, and the forecast years are from 2023 to 2030.
Here's a link to our Country Report Summary: https://inkwoodresearch.com/reports/germany-automated-fare-collection-system-market/

Global Automated Fare Collection System Market Scenario

The development of the global automated fare collection system market is primarily attributed to several factors, including improvements in transportation infrastructure, a rise in smartphones and internet usage, and a decline in the likelihood of fraud and counterfeiting. Automated fare collecting systems are essential for doing away with the necessity for cash payments and the uncertainty surrounding communication breakdowns between drivers and passengers. As such, this feature also makes using smartcards for hassle-free payment possible.

Because smartcards provide so many benefits, vital data is collected and added to a database instantly, allowing for even faster transactions, shorter processing times, and efficient payment management. Transport operators can improve their financial management by tracking media sales, cash transactions, and transfers with the aid of automatic fare collecting. It also enables operators to lessen the amount of time that staff members spend handling currency, which lowers the risk of fraud. Because of this, the likelihood of fraud and counterfeiting is lower, which boosts the growth of the global automated fare collection system market throughout the projected years.

The Global Automated Fare Collection System Market report provides data tables and includes charts and graphs for visual analysis.

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Market Segmentation

Market by Component:
• Hardware
• Software
• Services

Market by Technology:
• Smartcards
• Optical Character Recognition (OCR)
• Near-Field Communication (NFC)
• Other Technologies

Market by Application:
• Transport & Logistics
• Parking
• Media & Entertainment
• Other Applications

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Report Highlights
- The report provides a detailed analysis of the current and future market trends to identify the investment opportunities
- Market forecasts till 2032, using estimated market values as the base numbers
- Key market trends across the business segments, regions, and countries
- Key developments and strategies observed in the market
- Market dynamics such as drivers, restraints, opportunities, and other trends
- In-depth company profiles of key players and upcoming prominent players
- Growth prospects among the emerging nations through 2032

Companies Profiled
• THALES GROUP
• SCHEIDT & BACHMANN GMBH
• OMRON CORPORATION
• NXP SEMICONDUCTORS NV
• LG CNS
• LECIP HOLDINGS CORPORATION
• DORMAKABA GROUP
• SAMSUNG SDS
• CUBIC TRANSPORTATION SYSTEMS INC
• ATOS SE

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This release was published on openPR.