Market Research Report
Global Automated Fare Collection System Market 2019-2025
|Published by||Orion Market Research Pvt Ltd||Product code||949558|
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|Global Automated Fare Collection System Market 2019-2025|
|Published: June 9, 2020||Content info:||
Global Automated Fare Collection System Market Size, Share & Trends Analysis Report by Technology (Magnetic Strip, Smart Cards, Optical Character Recognition (OCR), and Near Field Communication (NFC)), By Application (Railway & Transport, Parking, Entertainment, and Others), and Forecast 2019-2025
The global automated fare collection system market is projected to grow at a significant CAGR during the forecast period. The primary factors that drive the growth of the market include the increased utilization of plastic money, real-time payments, and digital payment gateways, such as debit card, credit card, along with the Near Field Communication (NFC) payment options. These factors altogether are expected to enhance the growth of the market during the forecast period. These systems are rapidly replacing the conventional ticketing systems, and owing to their various benefits it possesses, such as better process management, revenue generation, financial fraud prevention, and superior system planning; there has been an increase in the adoption of such systems across the globe.
The global automated fare collection system market is segmented on the basis of technology and application. Based on the technology, the market is segmented into the magnetic strip, smart cards, optical character recognition (OCR), and near field communication (NFC). Further, based on the application, the market is segmented into railway & transport, parking, entertainment, and others such as toll collection. Railway & transport segment to contribute a prominent share to the market.
Further, Advanced Card Systems Ltd., NEC Corp., Nippon Signal Co. Ltd., NXP Semiconductors NV, Scheidt & Bachmann GmbH, Thales Group, and Xerox Corp. are some of the prominent players operating in the global automated fare collection system market. New product launches & developments, partnerships, agreements, and acquisitions are some of the growth strategies adopted by the players to sustain in the highly competitive market.
The market study of the global automated fare collection system market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.
Secondary sources include:
The report is intended for automated fare collection system market players, investment companies, industry associations and experts, and other market participants for overall market analysis and competitive analysis. The report provides an in-depth analysis of the market size and growth opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.
The Report Covers: