Automated Fare Collection (AFC) Market by Manufacturers, Countries, Type and Application, Forecast to 2022
According to Stratistics
MRC, the Global Automated Fare Collection (AFC) Market is accounted for $6.38
billion in 2016 and is expected to reach $15.83 billion by 2023 growing at a
CAGR of 13.9% during the forecast period. Demand for congestion free
transportation systems, reduction in environmental pollution and support from
various governments to invest on automated fare collection system are some
factors driving the market growth. However, high installation cost and slow
growth in emerging countries are hampering the market. Fare collection
technology platforms and developments in developing economies will provide
ample opportunity for the market to grow.
On the basis of
components, the hardware segment retains the largest market share in automated
fare collection industry and is expected to maintain its leading position
during the forecast period owing to development in Europe and Asia Pacific
region.
In terms of geography, North America region has been an extremely open and competitive market with regards to the adoption of AFC solutions across major industry applications. This region has been particularly responsive toward adopting the latest technological advancements, such as NFC and magnetic stripes. Moreover, strict government standards and regulations framed for various industries have also driven the growth of this region.
Some of the key players in this market include Omron Corp, NXP Semiconductors, LG Corporation, GMV, Atos SE, Samsung, Cubic Transportation Systems, Scheidt & Bachmann, Fare Logistics, Siemens AG, Advanced Card Systems, Sony Corporation, Trapeze Group, Vix Technology, Thales Group, Singapore Technologies Electronics Limited Xerox Corporation, Nippon Signal, Masabi Ltd., Indra Sistemas SA, iBlocks Limited and ST Electronics.
Service Types Covered:
• System Implementation
• Training, Support, and Maintenance
• Managed Services
• Consulting
In terms of geography, North America region has been an extremely open and competitive market with regards to the adoption of AFC solutions across major industry applications. This region has been particularly responsive toward adopting the latest technological advancements, such as NFC and magnetic stripes. Moreover, strict government standards and regulations framed for various industries have also driven the growth of this region.
Some of the key players in this market include Omron Corp, NXP Semiconductors, LG Corporation, GMV, Atos SE, Samsung, Cubic Transportation Systems, Scheidt & Bachmann, Fare Logistics, Siemens AG, Advanced Card Systems, Sony Corporation, Trapeze Group, Vix Technology, Thales Group, Singapore Technologies Electronics Limited Xerox Corporation, Nippon Signal, Masabi Ltd., Indra Sistemas SA, iBlocks Limited and ST Electronics.
Service Types Covered:
• System Implementation
• Training, Support, and Maintenance
• Managed Services
• Consulting
Full report with Table of
Content: https://marketreportscenter.com/reports/571505/automated-fare-collection-afc-global-market-outlook-2017-2023
Applications
Covered:
• Theme Park
• Parking
• Rail and Transport
• Other Applications
End Users Covered:
• Retail
• Transportation and Logistics
• Media and Entertainment
• Government
• Other End Users
Systems Covered:
• Fare gates
• Ticket vending machine
• IC cards
• Ticket office machine
• Theme Park
• Parking
• Rail and Transport
• Other Applications
End Users Covered:
• Retail
• Transportation and Logistics
• Media and Entertainment
• Government
• Other End Users
Systems Covered:
• Fare gates
• Ticket vending machine
• IC cards
• Ticket office machine
…
About
Market Reports Center;
Market Reports Center is an e-commerce platform
obliging the needs of knowledge workers, experts, professionals who are subject
to market research information for their work, or to make strategic business
decisions. We are dedicated to create a comprehensive offering of market
research which is accurate, credible and affordable.
Connect
for more details:
Sam
Collins
Market
Reports Center
1-646-883-3044
(US)
Comments
Post a Comment