Published by IMARC Services Private Limited
Posted on September 9, 2021
According to the latest report by IMARC Group, titled “Automated Fare Collection Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, The global automated fare collection market reached a value of US$ 6.3 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 11.4% during 2021-2026.
The automatic fare collection (AFC) refers to a ticketing system used in public transport and enables the payment for a fare through vending machines and online services. It consists of depot/station computers, central clearing house, fare media, back-office systems, and devices to read/write media. AFC systems conduct reliable, integrated and accurate fare collection to maintain a smooth passenger flow at peak hours. They offer various benefits, including reduced fraud chances, decreased cash payments, low investment costs, and a seamless customer experience.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Request Free Sample Report: https://www.imarcgroup.com/automated-fare-collection-market/requestsample
Market Trends:
The growing need for an integrated system for ticketing in public transport networks is primarily fueling the global AFC market growth. The increasing establishment of smart city projects across the globe is further escalating demand for efficient AFC systems. Besides this, the rising requirement for an interoperable fare management system in multi-operator public transports is driving the market growth. Moreover, the increasing utilization of contactless bank cards, particularly in developing nations, is creating a positive outlook for the AFC market.
Automated Fare Collection Market 2021-2026 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
The report has segmented the market on the basis of component, system type, technology, application and region.
Breakup by Component:
Breakup by System Type:
Breakup by Technology:
Breakup by Application:
Breakup by Region:
Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/automated-fare-collection-market
Key highlights of the report:
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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Electric Truck Market: https://www.imarcgroup.com/electric-truck-market
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us
IMARC Group
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Website: https://www.imarcgroup.com/
Email: sales@imarcgroup.com
USA: +1-631-791-1145
Follow us on twitter: @imarcglobal
Linkedin: https://www.linkedin.com/company/imarc-group
According to the latest report by IMARC Group, titled “Automated Fare Collection Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, The global automated fare collection market reached a value of US$ 6.3 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 11.4% during 2021-2026.
The automatic fare collection (AFC) refers to a ticketing system used in public transport and enables the payment for a fare through vending machines and online services. It consists of depot/station computers, central clearing house, fare media, back-office systems, and devices to read/write media. AFC systems conduct reliable, integrated and accurate fare collection to maintain a smooth passenger flow at peak hours. They offer various benefits, including reduced fraud chances, decreased cash payments, low investment costs, and a seamless customer experience.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Request Free Sample Report: https://www.imarcgroup.com/automated-fare-collection-market/requestsample
Market Trends:
The growing need for an integrated system for ticketing in public transport networks is primarily fueling the global AFC market growth. The increasing establishment of smart city projects across the globe is further escalating demand for efficient AFC systems. Besides this, the rising requirement for an interoperable fare management system in multi-operator public transports is driving the market growth. Moreover, the increasing utilization of contactless bank cards, particularly in developing nations, is creating a positive outlook for the AFC market.
Automated Fare Collection Market 2021-2026 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
The report has segmented the market on the basis of component, system type, technology, application and region.
Breakup by Component:
Breakup by System Type:
Breakup by Technology:
Breakup by Application:
Breakup by Region:
Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/automated-fare-collection-market
Key highlights of the report:
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Other Reports By IMARC Group:
Electric Truck Market: https://www.imarcgroup.com/electric-truck-market
Automotive Heat Shield Market: https://www.imarcgroup.com/automotive-heat-shield-market
Automotive Slipper Clutch Market: https://www.imarcgroup.com/automotive-slipper-clutch-market
Automotive Climate Control Market: https://www.imarcgroup.com/automotive-climate-control-market
Automotive Thermal System Market: https://www.imarcgroup.com/automotive-thermal-system-market
Automotive Blind Spot Detection System Market: https://www.imarcgroup.com/automotive-blind-spot-detection-system-market
Automotive Refinish Coatings Market: https://www.imarcgroup.com/automotive-refinish-coatings-market
Telehandler Market: https://www.imarcgroup.com/telehandler-market
Europe Robotic Lawn Mower Market: https://www.imarcgroup.com/europe-robotic-lawn-market
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us
IMARC Group
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Website: https://www.imarcgroup.com/
Email: sales@imarcgroup.com
USA: +1-631-791-1145
Follow us on twitter: @imarcglobal
Linkedin: https://www.linkedin.com/company/imarc-group
