Wilmington, Delaware, United States, March 28, 2017 (GLOBE NEWSWIRE) — The report “World Automated Fare Collection System Market – Opportunities and Forecast 2022”, available on MarketIntelReports, estimates that rising focus on improving transport infrastructure by growing economies, like India and China, will fuel future demand.
Browse numerous Market Tables as well as Figures which are spread through 110 Pages and an in-depth TOC on the “Automated Fare Collection System Market Forecast 2022” http://www.marketintelreports.com/report/allied0012/world-automated-fare-collection-system-market–opportunities-and-forecasts-20152022
Scope & Regional Forecast of the Automated Fare Collection System Market
Automated fare collection system is a contactless, end-to-end result for collecting fare payment, replacing traditional ticketing system with automated ticketing and fare collection systems. It comprises automatic gate machines, ticket vending machines, recharging terminals, and ticket checking machines. This system enables efficiency in fare collection, improves the overall transaction rate, and saves extensive amount of time, thereby minimizing waiting time in queues and searching for cash to buy tickets. In addition, it is the easiest method for revenue collection. It offers travelers to carry one card for use on all transit modes. For instance, in December 2015, UAE with Xerox Transportation solutions introduced automated fare collection system for Abu Dhabi buses, which reduced traffic congestion and waiting in queues.
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An automated fare collection system has various software enabled features including Oracle, Sybase support, support multitier architecture, and XML web services. Fare collection technology platforms such as Smart cards, NFC and OCR systems ensures full interoperability and independence of service providers. Factors such as increase in demand for smartphones, enhanced efficiency, reduced frauds, flexible fare plans, and enhanced security system strengthen the growth of this market. In addition, the government of India, China, and others are focusing on enriching the transport infrastructure and security system, which further drives the growth of the market. However, high installation and maintenance costs of automated fare collection system hinder the market growth. Opportunities such as increase in high speed of public transport, rise of technology payment, and global interoperability are likely to foster market growth.
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Prominent Segmentations Involved in the Automated Fare Collection System Market
The Automated Fare Collection System Market can be broken down into various segmentations on the basis of –
- Component: Hardware and Software.
- Application: Bus, Toll, Train and Car Rental.
- Technology Platform: Smart Card, Near Field Communications, Optical Character Recognition and Others (Magnetic Strips and Bar Codes).
- Geographical Location: North America, Europe, Asia-Pacific and LAMEA.
Some of the sample companies profiled in the Automated Fare Collection System Market report are as follows:
- Advanced Card Systems Ltd.
- Atos SE
- Cubic Transportation Systems
- LG CNS
- NXP Semiconductors
- Omron Corp.
- Samsung SDS
- Scheidt & Bachmann
- Thales Group
- LECIP Group
Why buy this report?
- Get a detailed picture of the Automated Fare Collection System Market.
- Pinpoint growth sectors and identify factors driving change.
- Understand the competitive environment, the market’s major players and leading brands.
- A five-year forecast method is used in order to assess how the market is predicted to develop.
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