Automated Fare Collection System Market will reach $12.9 million by 2 Automated Fare Collection System Market Forecast a | Page 2

The Global Automated Fare Collection market was valued at $4.81 billion in 2016,
and is projected to reach $12.9 billion by 2024, growing at a CAGR of 13.3% from
2017 to 2024. By application type, Bus segment, generated the highest revenue
share of $1.28 billion in 2016, growing at a CAGR of 13.6% in the global AFC
market. Among major regions, North America AFC market was the highest
revenue generating market valued at $1.6 billion in 2016.