Global Automatic Fare Collection System market to Witness High Demand Due to Increasing Trend for Contactless Payment Option

Automatic fare collection system market is forecast to grow at 13.81% for 2019 to 2027with factors such as high maintenance cost and increasing funding issues hampering the market growth.

Automatic fare collection system market has shown a significant adoption rate and preferences from the North America region.Increasing tech-savvy population and improvement in the communication network infrastructure will enhance the market growth in the region.

Global Automatic Fare Collection System Market Scenario

According to Data Bridge Market Research the automatic fare collection system market in developing regions is witnessing a growth in terms of its adoption rate, due toincreasing demand for smartphones, enhanced transport infrastructure &security system, increasing trend for contactless payment option, rising government initiatives to support infrastructural growth.

Now the question is which are the regions that automatic fare collection system market players should target? Data Bridge Market Research has forecastmarket leaders to target North America developing regions to help them in attaining better volume of revenue generation.

Automatic fare collection systemmarket is becoming more competitive every year with hardwarecurrently being the largest market component for the forecast period of 2020 to 2027. Data Bridge Market Research’s new reporthighlights the major growth factors and opportunities in the automatic fare collection system market.

For more analysis on the automatic fare collection system market, request for a briefing with our analysts

Global Automatic Fare Collection SystemMarket Development

Bharat Electronics Limited announced the launch of their new automatic fare collection gating system SWAGAT in March 2019. This new fare collection system can work in all cities and in all mode of transportation. The main aim of the launch is to enhance the government initiative for cashless, digital India.

Scope of the Global Automatic Fare Collection System Market

Automatic fare collection system market is segmented on the basis of countries into U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa

  • All country based analysis of the automatic fare collection system market is further analysed based on maximum granularity into further segmentation. On the basis of component, the automatic fare collection system market is segmented into hardware and software. Based on technology, the automatic fare collection system market is segmented into smart card, NFC, optical character recognition, magnetic strip and barcodes.The application segment of the automatic fare collection system market is divided into toll, bus, car rental and train.
  • Automated fare collection system is an advanced and automated process of gathering the payments in the public transportation channel. They are replacing the conventional ticketing system with the automated ticketing. They usually consist of ticket vending machines, gate machines, ticket checking machines and other. Different technologies which are used in the automated fare collection systems are optical character recognition, magnetic strip, bar codes, smart cards and others. They have the ability to decrease the waiting time and also enhance the overall transaction rate.

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Key Pointers Covered in the Global Automatic Fare Collection SystemMarket Industry Trends and Forecast to 2027

  • Market Size
  • Market New Sales Volumes
  • Market Replacement Sales Volumes
  • Installed Base
  • Market By Brands
  • Market Procedure Volumes
  • Market Product Price Analysis
  • Market Shares in Different Regions
  • Recent Developments for Market Competitors
  • Market Upcoming Applications
  • Market Innovators Study

Key Market Competitors Covered in the Report

  • Thales Group
  • OMRON Corporation
  • Vix Technology
  • Scheidt& Bachmann GmbH
  • IndraSistemas, S.A.
  • Siemens
  • Advanced Card Systems Ltd.
  • NXP Semiconductors
  • Atos SE
  • Cubic Corporation
  • LG CNS
  • Sony Corporation
  • Singapore Technologies Engineering Ltd
  • Masabi Ltd
  • Trapeze Group

Above are the key players covered in the report, to know about more and exhaustive list of automatic fare collection system companies, contact us

Research Methodology: Global Automatic Fare Collection System Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecast 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 enquiry.

The key research methodology used by 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 Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global Vs Regional 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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