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Automated Fare Collection System Market Worth $12.75 Bn, Globally, by 2027 at 11.6% CAGR: Allied Market Research


 by Application (Bus, Toll, Train, and Car Rental), Component (Hardware, and Software), and Technology Platform (Smart Card, Near Field Communications, Optical Character Recognition (OCR) and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027.  According to the report, the global automated fare collection system industry was estimated at $6.63 billion in 2019, and is expected to hit $12.75 billion by 2027, registering a CAGR of 11.6% from 2020 to 2027.
Drivers, restraints, and opportunities-
Rise in the trend of contactless open payment, increasing demand for smartphones, enhanced transport infrastructure and security system, flexible fare plans, low manpower cost, and less operational time fuel the growth of the global automated fare collection system market. On the other hand, high installation and maintenance cost impede the growth to some extent. Nevertheless, surge in use of high-speed public transport, arrival of digitized payment, and global i ....

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Automated Fare Collection System Market Outlook, Industry Size, Market Share, Forecast 2021-2026


Automated Fare Collection System Market Outlook, Industry Size, Market Share, Forecast 2021-2026
Facto Market Insights as of late distributed statistical surveying report on the worldwide Automated Fare Collection System Market to its assortment of statistical surveying reports.
BriefingWire.com, 4/17/2021 -
Facto Market Insights as of late distributed statistical surveying report on the Automated Fare Collection System Market to its assortment of statistical surveying reports. The exploration report covers point by point examination of market measuring and anticipating of the market covering the market drivers, challenges, opportunity investigation, and patterns, alongside different key bits of knowledge in the worldwide market. The examination report additionally incorporates the investigation of territorial producers and new market players, covering all the data reasonable for the customers to settle on essential bus ....

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