Automated Fare Collection (AFC) Market Expected to Reach $13.9 Billion by 2022 with CAGR of 13.8%

Automated Fare Collection (AFC) -Market Demand, Growth, Opportunities and analysis of Top Key Player Forecast to 2022


New York, NY -- (SBWIRE) -- 04/27/2017 -- Automated Fare Collection (AFC) Industry


According to Stratistics MRC, the Global Automated Fare Collection (AFC) Market is accounted for $5.6 billion in 2015 and expected to grow at a CAGR of 13.8% to reach $13.9 billion by 2022. Demand for Congestion free transportation systems, reduction in environmental pollution and support from various governments to invest on automated fare collection system is driving the market growth. However, high installation cost will hamper market growth. Fare collection technology platforms and developments in developing economies will provide ample opportunity for the market to grow.

The magnetic stripes technology segment and smart card technology are growing during forecast period. The hardware segment commanded the largest share due to development in Europe and Asia Pacific region. North America is expected to dominate the market followed by Europe. Asia Pacific is the fastest growing market due to enhancement in transportation infrastructure and security system.

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Some of the key players in global Automated Fare Collection (AFC) market are

Advanced Card Systems Ltd., Atos SE, Cubic Transportation Systems, Scheidt & Bachmann GmbH, NXP Semiconductors N.V , Omron Corporation, ST Electronics, Thales Group, Trapeze Group, iBlocks Limited, Indra Sistemas SA, LG Corporation, Masabi Ltd., Nippon Signal, Samsung SDS Co. Ltd., Siemens AG, Sony Corporation, Singapore Technologies Electronics Limited (ST Electronics), Xerox Corporation and Vix Technology.

Technologies Covered:
- Near-Field Communication (NFC)
- Optical character recognition (OCR)
- Smart Card
- Magnetic Stripes
- Other technologies (Barcoding, others)

Applications Covered:
- Parking
Auto Pay Machine
Parking Entry/Exit Barriers
Ticket Validating Machine
- Rail and Transport
Automatic Collection Gate
Passenger Service Machine
Ticket Vending Machine
Smart Card Ticketing
- Theme Park
- Electronic toll collection
- e-payment

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Systems Covered:
- Fare Gates
- IC cards
- Ticket Office Machine
- Ticket Vending Machine

Components Covered:
- Hardware
- Software

Regions Covered:
- North America
- Europe
Rest of Europe
- Asia Pacific
New Zealand
Rest of Asia Pacific
- Rest of the World
Middle East
South Africa

What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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