Automated Fare Collection System Market Overview :
Automation is a set of technologies that results in operation of machines and systems without significant human intervention and achieves performance superior to manual operation. Automation Systems may include Control Systems but the reverse is not true. Control Systems may be parts of Automation Systems. Automation is a technology concerned with the application of mechanical, electronic, and computer-based systems to operate and control production. This would show an increased growth trend for the market in the future years. For all the transportation industry. Automatic Fare Collection System is one of basic station equipment that consists of automatic gate machine, ticket vending machine and ticket checking machine. In this, stable and integrated platforms are necessarily to keep passenger flow run smoothly at peak hours; at the same time, all data will be gathered and transmitted into center.
Automated fare collection system is the solution that will improves the ticketing system, accurate and reliable fare collection, fraud prevention, faster transactions, ticket checking machines, recharging terminals, ticket vending machines. This system improves efficiency of the automated fare collection system. The automated system has influences increasing demand of smartphones, flexible fare plans. However, some of the issues such as high installation cost and high maintenance cost are the major hindrances for the market growth. Moreover, increase in high speed of public transport, and rise of technology payment is expected to generate profitable opportunities for the global market in the given forecast period.
Global automated fare collection system market is segmented on the basis of component type, application type, technology platform and geography. The component type segment is further classified into hardware and software. On the basis of application, the segmentation consist bus, toll, train and car(rental). Further by technology has being classified into optical character recognition, smart card, near field communication and other (Magnetic strips and bar codes)
The key players operating in the global automated fare collection system market are General Electric Company, Eaton Corporation Plc, Delphi Automotive LLP, ClipperCreek, Inc., Siemens AG, Delta Electronics, Inc., Schneider Electric SE, Robert Bosch GmbH, Evatran Group, Inc., and Tesla Motors, Inc., among others.
The key takeaways from the report
- The report will provide detailed analysis of the Automated Fare Collection System Market with respect to major segments such as component, application, technology, and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of the Automated Fare Collection System Market has been included in the report
- Profile of the key players in the Automated Fare Collection System Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Automated Fare Collection System Market
- Optical Character Recognition
- Smart Card
- Near Field Communication
- Other (Magnetic Strips And Bar Codes)
- Car Rental
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Middle East