Automated fare collection (afc) market by 2022

Automated Fare Collection (AFC) Market Analysis And Segment Forecasts To 2022

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Automated Fare Collection (AFC) Market Analysis And Segment Forecasts To 2022 The automated fare collection market is expected to reach USD 8.51 billion by 2022 according to a new report by Grand View Research, Inc. Automated fare collection systems are the collective components, which enable the automated ticketing system for public transportation network. They provide a stable and integrated platform for all the activities concerned with the fare collection with equipment like automatic gate machine, ticket vending machine, and ticket checking machine.

Automated fare collection systems are used in a number of high transit areas including government buildings, large commercial workplaces, and public transport ports. The growing demand for efficient, automated, and hassle-free transportation is fueling the need for automated Fare collection systems.

Browse the report: http://www.orbisresearch.com/reports/index/automated-fare-collection-afcmarket-analysis-by-technology-smart-cards-magnetic-strip-nfc-ocr-by-component-hardwaresoftware-by-system-tvm-tom-fare-gates-ic-cards-and-segment-forecasts-till-2022 The passenger traffic is growing by leaps and bounds worldwide due to ever-rising population, which in turn is pressurizing the government to initiate and implement new and innovative ways to manage the public transportation services. This is expected to provide for a thriving market for automated fare collection in several countries as the government is investing increasingly in the infrastructure development.

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Automated Fare Collection (AFC) Market Analysis And Segment Forecasts To 2022 The increasing use of wireless connections, smartphone users, smart cards, contactless technology, and electronic payment is expected to append the growth of the market. The growing adoption of smart technologies and strategic alliances of transportation agencies with technology providers to establish such services is further helping the market to grow.

Request a sample of the report: http://www.orbisresearch.com/contacts/request-sample/111310 The global market is highly competitive. The major industry participants include Cubic Systems, Omron Corporation, Thales Group, Advance Cards Systems, Atos SE, Fare Logistics, LG Corporation, NXP Semiconductor, and Samsung SDS.

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