The global automated fare collection (AFC) system market is expected to reach USD 8.52 billion by 2022, according to a new study by Grand View Research, Inc. Increasing government initiatives to improve public transport systems worldwide is expected to contribute to revenue growth. Officials justify these initiatives for better management of revenue generated, fraud prevention, and better future planning of transport services, with passenger traffic worldwide constantly on the rise, owing to rising population. The rail passenger and freight traffic worldwide could grow at a considerable rate annually. To meet growing rail traffic needs, annual transport investment is expected to increase at a significant rate. AFC systems market is a core component of intelligent transportation systems (ITS) and the technology is primarily deployed to automate and manage the fare collection in public transport.
http://www.grandviewresearch.com/industry-analysis/automated-fare-collection-afc-system-market
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