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Automated Fare Collection Market

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“All parts of the world, whether developing or developed, hold transport at a high priority when it comes to development and expansion,” states a TMR analyst. “The latest development trend in transport is the implementation of smart transport system
Automated Fare Collection Market to Witness a Rise of US$10.87 bn by the end of
2021
Close to only 11% of the global automated fare collection market was taken up by regional
players in 2014, indicating a highly consolidated market. The top three players – NXP
Semiconductors, Atos, and Omron Corporation – collectively held a share of 56% in
revenue in 2014. As stated by Transparency Market Research in a new report, all top
automated fare collection services and technologies providers are constantly on the cutting
edge of automated fare collection technologies through continuous innovation and system
development. These innovations allow the vendors to tackle the rapid increase in demand
while providing safe and secure transaction methods.
Other key strategies adopted by the automated fare collection vendors include a significant
scale of acquisitions and mergers to maintain and grow market value. At the same time, the
players also invest heavily in improvement techniques of their own products. This includes
investing in advanced bug tracking, real-time data solutions, and integrated operations.
Transport Networks Improve, Add Greater Scope for Automated Fare Collection
“All parts of the world, whether developing or developed, hold transport at a high priority
when it comes to development and expansion,” states a TMR analyst. “The latest
development trend in transport is the implementation of smart transport systems, which can
sync perfectly with the new automated fare collection systems available in the market.”
View and Download TOC of Automated Fare Collection Market Research Report @
https://www.transparencymarketresearch.com/report-toc/7784
The use of automated fare collection in smart transport is expected to improve the overall
flow of traffic and help government and other agencies cut down on operation costs.
Additionally, the implementation of automated fare collection systems directly in the
existing transport systems can also help substantially in reducing road congestion, which is a
key cause of high fuel consumption and carbon emissions.
Organization and Integration Challenges Hinder Automated Fare Collection Vendor Growth
The implementation of automated fare collection systems involves the installation of
multiple hardware and software in a transportation system. It brings out a key challenge
faced by all players: the complex nature of an automated fare collection system and its
integration. The various components in an automated fare collection system may make it
exceedingly difficult to integrate them with a current organization, especially when it comes
to switching between automatic and manual fare collection.
North America Leads Automated Fare Collection Revenue Generation
The global automated fare collection market is expected to accrue a revenue of US$10.87 bn
by the end of 2021. The revenue is speculated to be progressing at a CAGR of 11.4% within
a forecast period from 2015 to 2021.
Smart card technology has contributed significantly to the revenue growth. This segment is
expected to reach US$4.69 bn by 2021.
North America will be the leading region for most automated fare collection releases and
development. This region is expected to generate US$3.87 bn in the automated fare
collection market by 2021. Europe automated fare collection follows closely with an
expected revenue of US$3.44 bn in 2021.
Browse Complete Report @
https://www.transparencymarketresearch.com/automated-fare-collection-market.html
The information presented in this review is based on a Transparency Market Research
report, titled, “Automated Fare Collection Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast 2015 - 2021.”
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ashutosh
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