Automated Fare Collection AFC System Market 2021-2026
New Study Reports ” Automated Fare Collection AFC System Market 2021 Global Opportunities, Challenges, Strategies and Forecasts 2026″ has been Added on PersistenceMarketResearch.
Report Details:
This report provides in depth study of “Automated Fare Collection AFC System Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Automated Fare Collection AFC System Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.
Drivers and Constraints
The fundamental dynamics that are explored in the report hold substantial influence over the Automated Fare Collection AFC System market. The report further studies on the value, volume trends, and the pricing history of the market. In addition to it, various growth factors, restraints, and opportunities are also analyzed for the market to study the in-depth understanding of the market.
The need to improve driving experience goes in hand with the necessitation of deploying advanced regulatory systems for traffic and transportation. Automated fare collection (AFC) systems are becoming more popular across transportation authorities as an ideal solution for ticketing passengers. By improving the efficiency of ticketing systems and streamlining the fare transaction process, automated fare collection systems will soon be observed as an enhanced service arranged by transportation authorities. Persistence Market Research’s latest report projects that the global market for automated fare collection systems will surpass US$ 11.8 Bn revenues towards the end of 2024.
Key Players:
The report has profiled some of the Important players prevalent in the global like – Cubic Corporation, Thales Group, Xerox Corporation, Eurotech SPA, Nippon Signal Co. Ltd., Advantech Co. Ltd., NEC Corporation, Advanced Card Systems Holdings Limited, Omron Corporation and Scheidt & Bachman GmbH. and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Automated Fare Collection AFC System.
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The report, titled “Automated Fare Collection Systems Market: Global Industry Analysis and Forecast, 2016-2024,” illustrates that the global automated fare collection systems market, which is presently valued at US$ 4.7 Bn will surge at 11.1% CAGR during the eight-year forecast period. Factors such as easy installation, low-cost maintenance and compatibility to technological advancements are observed to drive the demand for automated fare collection systems across the globe. The market is expected to witness surplus revenue growth on the account of advancements instated in automated fare collection systems. Companies manufacturing such systems are providing additional features that further enhance the user experience, and continue to propel in accordance with transportation authorities.
Rising adoption of automated fare collection systems is also associated with growing need for advanced transportation solutions. Traffic authorities continue to struggle with old-fashioned transit systems and end up suffering losses worth millions of dollars. Through automated fare collection systems, these authorities will be at an advantage in terms of operational fluency and controlling expenditure budget. A majority of automated fare collection systems are availed in the form of hardware. Revenues amassed from sales of AFC hardware have been projected to account for more than 40% share throughout the forecast period. Demand for AFC software will also gain traction, while services will continue to procure consistent share on global market value between 2017 and 2024.
The report reveals nearly half of automated fare collection systems sold across the globe will be installed for buses and light trail transit systems. Train services will be observed as the largest application, with a little over 40% share on global revenues by 2024-end. Likewise, public transport will remain the largest end-user industry for automated fare collection systems in the world, accounting for over three-fourth of global revenues at any point during the forecast tenure. Revenues from sales of automated fare collection systems in private transport circuits will grow at a steadfast CAGR of 11.9%.
The report further reveals that North America and Europe will remain at the forefront, dominating with a collective global revenue share of more than 55%. The Asia-Pacific automated fare collection systems market, on the other hand, is anticipated to showcase a robust value CAGR of 12.4% during the forecast period.
View Report Table of Contents, Figures, and Tables
Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Key Stakeholders
Automated Fare Collection AFC System Market Manufacturers
Automated Fare Collection AFC System Market Distributors/Traders/Wholesalers
Automated Fare Collection AFC System Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Major Highlights of the Automated Fare Collection AFC System Market Report:
- The Automated Fare Collection AFC System Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
- The report dives deeper into the market and explains the dynamic factors bolstering market growth.
- The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
- The report analyzes the Automated Fare Collection AFC System Market presence across major regions of the world.
- It determines the production & consumption capacities and demand & supply dynamics of each regional market.
- The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
- It provides company overview and SWOT analysis of each of the market players.
Key Questions Answered in This Report.
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
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