DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Automated Fare Collection (AFC) Market - Forecasts To 2025" report to their offering.
The global automated fare collection (AFC) market is expected to reach USD 10.74 billion by 2025.
The passenger traffic is growing by leaps and bounds worldwide due to ever rising population which in turn is pressurizing the government to initiate and implement new and innovative ways to manage the public transportation services. This is boosting the trend of automated fare collection in several countries as the government is investing increasingly in the infrastructure development. The need for automated, easy to use, and compact systems for everyday use is also driving the automated fare collection market as with recent technological advancements fare collection has become wireless and multifunctional.
There is growing demand for the automated fare collection systems owing to the developments in the metro infrastructures and increasing government investments from developing economies of Asia Pacific region. The ability of these systems to deliver better management, revenue generation, fraud prevention and better future planning are impelling the automated fare collection system markets.
The increasing use of wireless connections, smart-phone users, smart cards, contactless technology, and electronic payment is expected to append the growth of market. The growing adoption of smart technologies and strategic alliances of transportation agencies with technology providers to establish such services is further helping the market to grow.
- Advanced Card Systems Ltd.
- Atos SE
- Cubic Transportation Systems
- iBlocks Limited
- Indra Sistemas SA
- LG Corporation
- Masabi Ltd.
- Nippon Signal
- NXP Semiconductors N.V.
Key Topics Covered:
1 Methodology and Scope
2 Executive Summary
3 AFC Industry Outlook
4 Automated Fare Collection (AFC) Technology Outlook
5 Automated Fare Collection (AFC) Component Outlook
6 Automated Fare Collection (AFC) System Outlook
7 Automated Fare Collection (AFC) System Regional Outlook
8 Competitive Landscape
For more information about this report visit http://www.researchandmarkets.com/research/nwffpl/automated_fare