The Europe Automated Fare Collection System Market would witness market growth of 15.5% CAGR during the forecast period (2020-2026). Various governments are introducing digital ticketing systems to make it easier to switch between different modes of transport and to enable people to use public transit services more frequently. In the United Kingdom, for example, the Oyster card was introduced as an electronic token for use in public transport in London, by Transport for London (TfL). The card can be used in London Buses, London Underground, London Overground, Docklands Light Railway (DLR), Tramlink, some river boat services, and most of the National Rail services within the London fare zones.
The Automated Fare Collection system consists of automatic ticket sales, ticket checks, and gate machines. This is a smart card-based contactless back-to-back payment and fare collection system. Rather of paying the fare directly by currency, ticket vending machines are used, as well as electronic systems or other methods. The key components of the system include tickets or other formats, such as generic paper tickets or electronic tickets; ticket vending machines or online systems with a range of payment options; a linked ticket printer, including ticket validators, turnstiles or other means; and a central management system.
Automated Fare Selection is a high-tech system developed specifically for transport operations. These applications require interconnected and secure networks to sustain the easy flow of travelers at peak hours and to collect and transmit data to the core. The system allows passengers to pay for their journey or to drive either with appropriate travel products or with a card balance. Such networks are used in numerous high-traffic locations, including large commercial sites, government buildings, public transport terminals, etc.
Based on Technology Platform, the market is segmented into Smart Card, Optical Character Recognition, Near Field Communication and Others. Based on Component, the market is segmented into Hardware and Software. Based on End User, the market is segmented into Railway, Toll, Parking, Bus and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: Automated Fare Collection System Market in Europe is expected to register a CAGR of 15.5% during the forecast period (2020-2026)
The market research report covers theanalysis of key stake holders of the market. Key companies profiled in the report include Omron Corporation, Atos Group, Dormakaba Holding AG, LG Corporation, NXP Semiconductors N.V., Samsung Electronics Co., Ltd. (Samsung Group), Thales Group S.A., Cubic Corporation, LECIP Holdings Corporation, and Scheidt & Bachmann GmbH.
Market Segmentation:
By Technology Platform
By Component
By End-User
By Country
Companies Profiled
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