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Automated Fare Collection System Market Share

Report ID: GMI406
Published Date: Apr 2016
Report Format: PDF

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Automated Fare Collection System Market Share

The companies present in the automated fare collection (AFC) system market are enhancing their product capabilities through partnerships with technology companies. For example, in October 2015, Transdev enhanced its fare collection system by using Parkeon’s Wayfarer6 driver consoles to operate on certain UK bus routes. In May 2015, QNX Software announced that its QNX Neutrino OS is powering dare collection system, which includes ticketing machines, automatic gates, and onboard bus equipment throughout the countries including the Philippines, Singapore, and Thailand. Companies operating in the market are focusing on product innovations to differentiate their offerings and gain a competitive edge over their competitors.

Some of the major companies operating in the market are:

Thales Group
Omron Corporation
Advance Card System
Samsung
GMV
Scheidt & Bachmann
Sony Corporation
Vix Technology
LG Corporation
Atos
Fare Logistics.

Authors: Suraj Gujar

Frequently Asked Questions (FAQ) :

The market size of automated fare collection system was valued over USD 4 billion in 2015.

The industry share of automated fare collection system market is projected to witness 10% growth rate during 2016 to 2023.

Dramatic rise in the demand for smartphone and favorable government initiatives are likely to drive the demand for AFC systems.

Prevalent use of OCR technology in personal smartphone scanning devices, server-based solutions and desktop application are likely to boost the demand for optical character recognition technology.

Increase in the use of hardware electronics, including bus controller units, bus card processors and portable ticketing devices is likely to provide substantial gain to manufacturers of automated fare collection (AFC) system.

Favorable government policies for the development of transportation systems will aid stakeholders to invest in the industry.