Consumer & Luxury Goods Market Research News

Explore automated fare collection system market that will reach $12.9 million by 2024

Consumer Market Research

The Asia Pacific region is going to witness the highest growth in terms of Automated Fare Collection Market. This is the result of developing and emerging countries concentrated in the region. Countries like India and China are focusing on various public transportation projects like trams, subways and BRT services, which are eventually assisting in the market growth

As per the report "Automated Fare Collection System Market Make an Inquiry about this news by application (Bus, Toll, Train and Car rental), by component (Software & Services, hardware) by technology platform (Smart card, NFC, OCR, and Others), by geography (North America, Europe, Asia Pacific and Rest of World), Global Opportunity Analysis and Industry Forecast, (2016–2024)," The global Automated Fare Collection market was valued at $4.81 billion in 2016, and is projected to reach $12.9 billion by 2024, growing at a CAGR of 13.3% from 2017 to 2024. By application type, Bus segment, generated the highest revenue share of $1.28 billion in 2016, growing at a CAGR of 13.6% in the global AFC market.

Among major regions, North America AFC market was the highest revenue generating market valued at $1.6 billion in 2016.

To know more about the report, visit at…on-system-market Make an Inquiry about this news

North America generated the highest revenue in 2016, in terms of Automatic Fare Collection Market

North America led the AFC market by generating a revenue of $1.6 billion in 2016 and is expected to grow at a CAGR of 12.5% during the forecast period of (2017-2024).