Industry Analysis : Automated Fare Collection Market Industry Analysis 2021

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Transparency Market

Research

Japan, India, and China to Offer Lucrative

Opportunities to Global Automated Fare Collection

Market

Published Date

2015-11-20

87 Page Report

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Report Title

Automated Fare Collection Market - Global Industry Analysis

and Forecast 2021 | TMR

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Automated Fare Collection

REPORT DESCRIPTION

Global Automated Fare Collection Market

According to a new market report published by Transparency Market Research “Automated

Fare Collection Market - Global Industry Analysis, Size, Share, Growth, Trends and

Forecast 2015 - 2021,” the automated fare collection market was valued at US$5.12 bn in

2014, and is expected to reach US$10.87 bn by 2021, at a CAGR of 11.4% from 2015 to 2021.

Automated fare collection system is the combination of components which automates the

ticketing process in the transportation network. The automated fare collection market has been

segmented by technology into smart cards, magnetic strips, NFCs (Near field communication)

and OCR (Optical character recognition). The market by component type has been segmented

into software and hardware. The automated fare collection market by industrial application has

been segmented into bus, toll, car rental, train, e-payment and others. The use of AFC helps in

reduction of operational cost and improves the transaction rate of the ticketing system in

transportation systems. The AFC system also ensures more efficient collection of fare. Use of

latest technology in the automated fare collection system like smartcard, contactless technology

and electronic payment is likely to drive the market.

Broadly, the automated fare collection market by geography has been segmented into North

America, Europe, Asia Pacific and Rest of the World (RoW). North...