Automated Fare Collection Market

Automated Fare Collection Market to Expand at a CAGR of 11.4% over 2015-2021 as
Public Transport Facilities Develop
The demand within the global market for automated fare collection has been rising
on account of advancements in the field of automation technologies, finds
Transparency Market Research (TMR). The vendors in the global market for
automated fare collection have been improving their services to fetch the benefits of
superior
performance.
Furthermore,
the
competitive
landscape
of
the
global automated fare collection market is expected to become increasingly
fragmented in the years to come. This is due to the continual entry of new players in
the global automated fare collection market across the globe. There is also a
possibility of voluminous revenues falling under the kitty of the leading vendors in
the global automated fare collection market.
Request a Sample - https://www.transparencymarketresearch.com/sample/sample.php?
flag=S&rep_id=7784
The leading vendors in the global automated fare collection market have been
striking collaborations with transportation companies over the past decade. This has
helped these vendors in building a strong foundation for launching their future
products and services. The small and medium-sized vendors in the global market for
automated fare collection are expected to form alliances amongst themselves. This
could help these vendors in sustaining amidst cutthroat competition from established
vendors. Some of the key vendors in the global automated fare collection market are
Omron Corporation, GMV, Siemens AG, and Atos.
Transparency Market Research (TMR) finds that the global automated fare collection
market would expand at a starry CAGR of 11.4% over the period between 2015 and
2021. The cumulative revenues within the global market for automated fare collection
are expected to touch US$10.87 bn by 2021-end. On the basis of geography, the
market for automated fare collection in North America is projected to expand at a
starry rate in the years to come. This owes to the matured transport industry in the
US and Canada.
Download Report TOC for in-depth analysis @
https://www.transparencymarketresearch.com/report-toc/7784
Advancements in the Transport Sector to Propel Market Demand
The transportation industry across the globe has been making rapid advancements
over the past decade. The emerging economies have especially been steadfast in
improving the transport industry. This factor has played a key role in the growth of
the global automated fare collection market in recent times. Moreover, the domain of
public transport has also made rapid advancements in recent times which has in turn
given a boost to the demand within the global automated fare collection market. The
investments made by governments towards inducting improved technologies in public
transport facilities have aided market growth.

Download Report