AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |
Back to Blog
Pixia cubic9/23/2023 ![]() ![]() Based on End User, the market is segmented into Railway, Toll, Parking, Bus and Others. Based on Component, the market is segmented into Hardware and Software. There is also a substantial rise in demand for automated fare collection ticketing systems due to rising demand for contactless mobile payment solutions and smartphones, decreased rates of fraud, flexible fare plans, decreased traffic congestion and improved transport infrastructure.įree Valuable Insights: Global Automated Fare Collection System Market to reach a market size of $17.9 billion by 2026īased on Technology Platform, the market is segmented into Smart Card, Optical Character Recognition, Near Field Communication and Others. The implementation of national electronic card systems is expected to offer fare discounts to students and pensioners using public transport. The adoption of automated tariff collection systems would replace passports and paper-based tickets with electronic fare payments. Numerous plans have been proposed in recent years to reform the fare system used in public transport. This provides travelers with one pass to use for all transit modes.Īutomated Fare Collection System Market Share In addition, it is an easy way to collect revenue. This system makes it easier to collect fares quickly, increases the overall transaction rate and saves a huge amount of time, reducing waiting time in queues and looking for cash to buy tickets. This includes automated gate machines, vending machines for tickets, recharging terminals and check machines for tickets. The automated fare collection system is an end-to-end contactless solution for collecting fare payments and replacing the conventional ticketing method with electronic ticketing. Global Automated Fare Collection System Market Size Policy emphasis on improving the efficiency of current mass transportation networks, such as subways, Buses, trams and metros, is also anticipated to promote the usage of technology. Increasing use of new solutions to increase transaction speed and minimize problems related to cash processing and ticket distribution is expected to be one of the leading drivers driving the industry. The Global Automated Fare Collection System Market size is expected to reach $17.9 billion by 2026, rising at a market growth of 16.3% CAGR during the forecast period. ![]()
0 Comments
Read More
Leave a Reply. |