Global Automated Fare Collection AFC Market Research Report 2023(Status and Outlook)
Report Overview
Automatic Fare Collection System (AFC) is a contactless smartcard-based end-to-end solution for fare collection and payment. The state-of-the-art solution is uniquely designed with the demand of revenue services for modern transit operation in mind. Furthermore, with the advent of smartcard technology and proliferation of its business applications, AFC also enables transit operators to expand revenue opportunities, exploit the benefits of payment integration with other transit operators as well as non-transit service providers.
The European market segment leads the overall AFC industry in the world segmented by regional areas and is closely followed by the North American market owing to a developed transportation infrastructure. In coming years, the Asia-Pacific market is expected to grow the fastest with the increasing demand from developing countries like China and India.
The Global Automated Fare Collection AFC Market Size was estimated at USD 7490.8 million in 2022 and is projected to reach USD 12427.61 million by 2029, exhibiting a CAGR of 7.50% during the forecast period.
Bosson Research’s latest report provides a deep insight into the global Automated Fare Collection AFC market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc.
The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Automated Fare Collection AFC Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.
In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Automated Fare Collection AFC market in any manner.
Global Automated Fare Collection AFC Market: Market Segmentation Analysis
The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.
Key Company
Cubic Systems
Omron Corporation
Thales Group
Advance Cards Systems
Atos SE
Fare Logistics
LG Corporation
NXP Semiconductor
Samsung SDS
Market Segmentation (by Type)
Hardware
Software
Market Segmentation (by Application)
Paints & Coatings
Agro Chemicals
Rubber & Resin
Printing Inks
Industrial Cleaning
Other
Geographic Segmentation
North America (USA, Canada, Mexico)
Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
South America (Brazil, Argentina, Columbia, Rest of South America)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)
Key Benefits of This Market Research:
Industry drivers, restraints, and opportunities covered in the study
Neutral perspective on the market performance
Recent industry trends and developments
Competitive landscape & strategies of key players
Potential & niche segments and regions exhibiting promising growth covered
Historical, current, and projected market size, in terms of value
In-depth analysis of the Automated Fare Collection AFC Market
Overview of the regional outlook of the Automated Fare Collection AFC Market:
Key Reasons to Buy this Report:
Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change
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