Automotive & Transportation Industry Automated Fare Collection Market Report

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Automated Fare Collection (AFC) Market Share, Size, Analysis,
Growth, Trends and Forecasts to 2024| Hexa Research
" The automated fare collection (AFC) market is
anticipated to grow significantly from 2016 to 2024
owing to its increased usage in public transport."
The Automated Fare Collection Market is anticipated to be valued beyond USD 8.5 billion by 2024. Automated
fare collection systems are the combined modules, which facilitate the automated ticketing system for public
transportation network. They offer a constant and incorporated platform for all the actions concerned with the
fare gathering with equipment such as ticket checking machine, ticket vending machine, and automatic gate
machine.
These systems are chiefly used in a several high transit areas counting huge commercial workplaces,
government buildings, and public transport ports. The increasing demand for proficient, automated, and
tranquil transportation is spurring the requirement for automated fare collection systems.
The escalating focus on improving the transport infrastructure, safety measures, and simplicity for the
purchaser is likely to stimulate the industry growth in the near future. However smooth revenue collection and
initial high cost of setting up can influence the automated fare collection systems, thereby, propelling the
overall market demand during the forecast period (2016-2024).
Browse Details of Report @ https://www.hexaresearch.com/research-report/automated-fare-collection-afc-
system-market
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