The global automated fare collection system market is projected to grow at a significant CAGR during the forecast period. The contactless end-to-end solution for the collection of fare and alternate solutions for the traditional ticketing system is the automated fare collection system. The systems include ticket vending machines and ticket checking machines, automatic gate machines, and recharging terminals. It aids in providing efficiency to the fare collection and enhances overall transaction rates.
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The primary factors that drive the growth of the overall market include the supportive government initiatives that are engaged in the development of sustainable and smart transportation infrastructure. For instance, the government in UK and the Netherlands have introduced these systems to provide smart card technology for the authorities. Further, the increased use of advanced fare collection technologies such as smartcards and electronic payment systems and the growing usage of smartphones for accessing travel information applications are likely to enhance the overall growth of the market during the forecast period.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Automated Fare Collection System Market – Segmentation
By Technology
- Magnetic Strip
- Smart Cards
- Optical Character Recognition (OCR)
- Near Field Communication (NFC)
By Application
- Railway & Transport
- Parking
- Entertainment
- Others
Global Automated Fare Collection System Market – Segmentation by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
The Report Covers
- Market value data analysis of 2018 and forecast to 2025.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global automated fare collection system market. Based on the availability of data, information related to products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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