Automated Fare Collection System Market will reach $12.9 million by 2 Automated Fare Collection System Market Forecast a | Page 7

Automated Fare Collection System Market Key Findings
• North America leads the AFC market by generating a revenue of $1.6
billion in 2016 and is expected to grow at a CAGR of 12.5% during the
forecast period of (2017-2024)
• The Automated bus fare collection segment generated a revenue of
$1.28 billion in 2016.
• The rapidly increasing demand for contactless open payment solutions
is driving the growth of the AFC market.
• Asia Pacific region is going to witness the highest growth, having a
CAGR of 14.7% during the forecast period.
• Automated toll fare collection market will witness the highest CAGR of
13.9% during the forecast period.