Automated Fare Collection (Afc) System Market - Global Industry Analysis and Forecast 2015 - 2021

Automated Fare Collection (AFC) System Market - Global Industry

Analysis and Forecast 2015 - 2021

Persistence Market Research

Automated Fare Collection (AFC) System

Market - Global Industry Analysis and

Forecast 2015 - 2021

Persistence Market Research

1

Automated Fare Collection (AFC) System Market - Global Industry

Analysis and Forecast 2015 - 2021

Persistence Market Research Released New Market Report on “Automated Fare Collection

(AFC) System Market - Global Industry Analysis and Forecast 2015 - 2021”.

Automated fare collection (AFC) system is the automated version of manual fare collection. It

allows public transportation authority’s such as metro, rail, and buses to implement fast and

efficient ticketing system. The automated fare collection system allows tracing and managing

the funds generated through sales and by use of transport fare media, thereby helping to thrust

revenue of the companies. Contactless technology, smart card, and electronic payment reduce

the cost associated with handling cash transaction. Smart cards technology is extensively used

fare collection systems because it offers benefits such as reduced maintenance & operating

cost, improve efficiency, and reduced frauds.

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The automated fare collection system market is segmented on the basis of technology,

components and geography. Based on technology, the automatic fare collection system market

can be categorized into smart cards, magnetic strips, near field communication (NFC), and

optical character recognition (OCR). The adoption of NFC technology is expected to remain

high owing to its benefits such as fault tolerance and high speed contactless transaction. These

technologies reduce the cost associated with handling cash transactions and save time of

travelers by eliminating the queue for obtaining tickets. On the basis of components, the

automated fare collection system market can be segmented as hardware...