The Automated Fare Collection Market is expected to rise at an annual rate of 13.20% in the forecast period of 2021 to 2028 and will reach USD 25,197.92 million by 2028 due to the increasing investment emphasis on automated fare collection by various governments.
On the other hand, a rise in the installation cost and slow growth in the developing and underdeveloped countries is expected to obstruct the market growth in the above-mentioned forecast period. Lack of interoperability and standardization among automated fare collection products is projected to challenge the automated fare collection market.
Automated Fare Collection Market Scenario
According to Data Bridge Market Research, the markets for automated fare collection is accelerating because of the decline in the environmental pollution and various benefit of cashless travel facility. Additionally, an increase in the need for solutions enabling congestion-free traffic positively affects the automated fare collection market.
Furthermore, growth in the transport infrastructure and security system and flexible fare plans extend profitable opportunities to the market players.
Now the question is, which are the other regions that automated fare collection market targeting? Data Bridge Market Research has estimated a large growth in Asia-Pacific due to growing investments from governments of emerging economies aimed at the growth of railway infrastructure and the development of highway networks.
For more analysis on the automated fare collection market, request a briefing with our analysts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-automated-fare-collection-market
Automated Fare Collection Market Scope
The automated fare collection market is segmented on the basis of countries into U.S., Canada, and Mexico in North America, Brazil, Argentina, and the rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of the Middle East and Africa (MEA)as a part of the Middle East and Africa (MEA).
- All country-based analysis of the automated fare collection market is further analyzed based on maximum granularity into further segmentation. The automated fare collection market is segmented on the basis of component, service type, system, technology, application, and end-user. On the basis of components, the automated fare collection market is segmented into hardware and software. On the basis of service type, the automated fare collection market is segmented into consulting, system implementation, training, support, and maintenance, and managed services. On the basis of the system, the automated fare collection market is segmented into the ticket vending machine (TVM), ticket office machine (TOM), fare gates, and IC cards. On the basis of technology, the automated fare collection market is segmented into near-field communication (NFC), magnetic stripes, smart cards, optical character recognition (OCR), and others. On the basis of application, the automated fare collection market is segmented into rail and transport, parking, theme park, and others. On the basis of end-users, the automated fare collection market is segmented into transportation and logistics, government, media and entertainment, retail, and others.
- The automated fare collection is a kind of a system, used to automate the ticketing system. This system comprises ticket checking machines, ticket vending machines, automatic gate machines and also the recharging terminals.
To know more about the study, https://www.databridgemarketresearch.com/reports/global-automated-fare-collection-market
Key Pointers Covered in the Automated Fare Collection Market Industry Trends and Forecast to 2028
- Market Size
- Market New Sales Volumes
- Market Replacement Sales Volumes
- Market Installed Base
- Market By Brands
- Market Procedure Volumes
- Market Product Price Analysis
- Market Cost of Care Analysis
- Market Shares in Different Regions
- Recent Developments for Market Competitors
- Market Upcoming Applications
- Market Innovators Study
Key Market Competitors Covered in the Report
- Cubic Corporation
- Indra
- Thales Group
- GMV
- ST Engineering
- Atos SE
- Longbow Technologies Sdn Bhd
- SAMSUNG
- Genfare
- Advanced Card Systems Ltd.
- NIPPON SIGNAL CO., LTD.
- OMRON Corporation
- Vix Technology
- Scheidt & Bachmann GmbH
- Siemens
- NXP Semiconductors
- LG CNS
- Sony Corporation
- LECIP HOLDINGS CORPORATION
- Masabi Ltd
Above are the key players covered in the report. To know about more and exhaustive list of automated fare collection companies’ contact us https://www.databridgemarketresearch.com/toc/?dbmr=global-automated-fare-collection-market
Research Methodology of Automated Fare Collection Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or can drop down your inquiry.
The key research methodology used by the DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market timeline analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis, and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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