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Global $15.83 Billion Automated Fare Collection (AFC) Market Forecast to 2023: Demand for Congestion-Free Transportation Systems is a Major Driver - ResearchAndMarkets.comThe "Automated Fare Collection (AFC) - Global Market Outlook (2017-2023)" report has been added to ResearchAndMarkets.com's offering. The Global Automated Fare Collection (AFC) Market accounted for $6.38 billion in 2016 and is expected to reach $15.83 billion by 2023 growing at a CAGR of 13.9% during the forecast period. Demand for congestion-free transportation systems, reduction in environmental pollution and support from various governments to invest on automated fare collection system are some factors driving the market growth. However, high installation cost and slow growth in emerging countries are hampering the market. Fare collection technology platforms and developments in developing economies will provide ample opportunity for the market to grow. On the basis of components, the hardware segment retains the largest market share in automated fare collection industry and is expected to maintain its leading position during the forecast period owing to development in Europe and Asia Pacific region. Report Scope
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For more information about this report visit https://www.researchandmarkets.com/research/nsfckc/global_15_83?w=4 View source version on businesswire.com: https://www.businesswire.com/news/home/20180615005753/en/ |