Fare Collection (AFC) – Global Market Outlook (2017-2023)”
report has been added to ResearchAndMarkets.com’s
The Global Automated Fare Collection (AFC) Market accounted for $6.38
billion in 2016 and is expected to reach $15.83 billion by 2023 growing
at a CAGR of 13.9% during the forecast period.
Demand for congestion-free transportation systems, reduction in
environmental pollution and support from various governments to invest
on automated fare collection system are some factors driving the market
growth. However, high installation cost and slow growth in emerging
countries are hampering the market. Fare collection technology platforms
and developments in developing economies will provide ample opportunity
for the market to grow.
On the basis of components, the hardware segment retains the largest
market share in automated fare collection industry and is expected to
maintain its leading position during the forecast period owing to
development in Europe and Asia Pacific region.
Service Types Covered
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