Automated Fare Collection Market
responsible for the growth of the global automated fare collection market is the strict government standards and regulations set up for various industries. The new payment gateways which include the use of debit, credit, or other bank cards escalate the growth of the global automated fare collection market. The low operating expenses, high return on investments, and improved performance attribute the global market growth. The reduced operating cost, low maintenance cost, and reduced frauds drive the global automated fare collection market.
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Global Automated Fare Collection Market: Segmentation
The global automated fare collection market is segmented based on service type, application, vertical, technology type, and region. The service type segment is divided into training, support, and maintenance, managed service, consulting, and system implementation. The application segment is categorized into theme park applications, parking applications, rail and transport, and others. The vertical segment is classified as retail, media and entertainment, government, transportation and logistics, and others. The technology type segment is bifurcated into magnetic stripes, near field communication, and others. The regional segmentation includes North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa. The rail and transport segment dominate the global automated fare collection market.