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Automated Fare Collection Market Future Forecast Assessed On The Basis Of How The Market Is Predicted To Grow

11-20-2017 05:45 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
Automated Fare Collection Market Future Forecast Assessed

Close to only 11% of the global automated fare collection market was taken up by regional players in 2014, indicating a highly consolidated market. The top three players – NXP Semiconductors, Atos, and Omron Corporation – collectively held a share of 56% in revenue in 2014. As stated by Transparency Market Research in a new report, all top automated fare collection services and technologies providers are constantly on the cutting edge of automated fare collection technologies through continuous innovation and system development. These innovations allow the vendors to tackle the rapid increase in demand while providing safe and secure transaction methods.

Other key strategies adopted by the automated fare collection vendors include a significant scale of acquisitions and mergers to maintain and grow market value. At the same time, the players also invest heavily in improvement techniques of their own products. This includes investing in advanced bug tracking, real-time data solutions, and integrated operations.

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Transport Networks Improve, Add Greater Scope for Automated Fare Collection

“All parts of the world, whether developing or developed, hold transport at a high priority when it comes to development and expansion,” states a TMR analyst. “The latest development trend in transport is the implementation of smart transport systems, which can sync perfectly with the new automated fare collection systems available in the market.”

The use of automated fare collection in smart transport is expected to improve the overall flow of traffic and help government and other agencies cut down on operation costs.

Additionally, the implementation of automated fare collection systems directly in the existing transport systems can also help substantially in reducing road congestion, which is a key cause of high fuel consumption and carbon emissions.

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Organization and Integration Challenges Hinder Automated Fare Collection Vendor Growth

The implementation of automated fare collection systems involves the installation of multiple hardware and software in a transportation system. It brings out a key challenge faced by all players: the complex nature of an automated fare collection system and its integration. The various components in an automated fare collection system may make it exceedingly difficult to integrate them with a current organization, especially when it comes to switching between automatic and manual fare collection.

North America Leads Automated Fare Collection Revenue Generation

The global automated fare collection market is expected to accrue a revenue of US$10.87 bn by the end of 2021. The revenue is speculated to be progressing at a CAGR of 11.4% within a forecast period from 2015 to 2021.

View Report @ https://www.transparencymarketresearch.com/automated-fare-collection-market.html

Smart card technology has contributed significantly to the revenue growth. This segment is expected to reach US$4.69 bn by 2021.

North America will be the leading region for most automated fare collection releases and development. This region is expected to generate US$3.87 bn in the automated fare collection market by 2021. Europe automated fare collection follows closely with an expected revenue of US$3.44 bn in 2021.

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

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