Germany Automated Fare Collection System Market Forecast 2023-2030

Germany Automated Fare Collection System Market Forecast 2023-2030

KEY FINDINGS

The Germany automated fare collection system market is evaluated to progress with a CAGR of 11.28% over the forecast period. The base year regarded for the studied market is 2022, and the estimated years are from 2023 to 2030. Some of the key factors propelling the country’s market growth include the rising investments in cutting-edge technologies as well as infrastructure for developing fully automated fare collection systems, in addition to the increasing adoption of mobile devices for ticketing solutions.

MARKET INSIGHTS

Automated fare collection systems (AFCS), also known as electronic fare collection systems, is characterized as an automated system that enables public transit operators to account for and track income. Technologies such as optical character recognition (OCR), smart cards, near field communication (NFC), as well as other technologies, including magnetic strips and bar codes, are widely used in the automated fare collection system market.

Since their introduction in the year 1997, contactless smart cards have continued to remain the standard fare media in automated fare collection (AFC) systems. However, several others systems support multiple media types, as well. For example, MaskTech qualified and extended the MTCOS Professional, its certified secure operating system, for the eTicketing system in Germany. Such developments, in turn, are expected to augment the country’s market growth during the forecast years.

COMPETITIVE INSIGHTS

Prominent players operating in the market include Dormakaba Group, Atos SE, Cubic Transportation Systems etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments