The Global Digital Fare Meters Market size is projected to grow at a CAGR of 9.2% from 2021-2028. The growth in the market is attributed to the increased adoption of digital fare meters across various industries such as auto rickshaw and taxi service providers due to their ease of use and accuracy, which has led to increased demand for this type of meter.
Digital Fare Meters are devices that display the fare of a vehicle with an integrated printer to print receipts for both passengers and drivers. They are used in the Taxi Services, Auto Rickshaw industry.
On basis of Type, the market is segmented into Meters With Printers, and Meter Without Printers.
This type of meter captures data from the transaction in a printed receipt that can be checked by passengers for authenticity while traveling on public transport or taxis.
This meter does not have printers installed and generates reports internally which allows officials to monitor a number of transactions without relying on receipts. These types are usually used in small-to-medium-sized taxi fleets because these fares are typically charged via a monthly ticket scheme rather than per mile or minute traveled, so there is less need to provide customers with individual receipts.
On basis of Application, the market is segmented into Auto Rickshaw, Taxi Services. The market has witnessed a significant shift in application towards Auto Rickshaw as a result of its increasing usage in India due to government incentives such as subsidies on purchase for electric auto-rickshaws and free travel for women drivers with low fuel costs among others. There has been an increase in awareness about hybrid vehicles which are derived from both gasoline-powered engines as well as electrical power generation systems that started rolling out across various cities.
On basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. In terms of market share in 2019 among the regions covered by this report, North America is forecast to hold a significant chunk that is followed by Europe and APAC respectively.
There will be an increase in demand for digital fare meters from emerging markets such as India due to its low cost with more advanced features like GPS tracking and internet connectivity which can help generate revenue-based fares with minimal legal disputes whereas there has been a decline in demand from traditional markets mainly owing to lack of awareness about digitization coupled with a high level of illiteracy as well as an inability to understand English language which often leads customers into facing problems while using pay machines or ATM kiosk.
Up Market Research published a new report titled “Digital Fare Meters Market research report which is segmented by Types (Meters With Printers, Meters With Without Printers), By Applications (Auto Rickshaw, Taxi), By Players/Companies Sansui Electronics, Pulsar Technologies, Precision Electronic Instruments, Pricol, Super Meter, MIJO AUTO Meter, Superb Meter, Automotive Techno, National Meter, Maruti Meter, Unique Digital Meters, Srisenthilnathan Meter Works, Ar.Micro Equipment”.
|Report Attributes||Report Details|
|Report Title||Digital Fare Meters Market Research Report|
|By Type||Meters With Printers, Meters With Without Printers|
|By Application||Auto Rickshaw, Taxi|
|By Companies||Sansui Electronics, Pulsar Technologies, Precision Electronic Instruments, Pricol, Super Meter, MIJO AUTO Meter, Superb Meter, Automotive Techno, National Meter, Maruti Meter, Unique Digital Meters, Srisenthilnathan Meter Works, Ar.Micro Equipment|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||207|
|Number of Tables & Figures||145|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Meters With Printers, Meters With Without Printers and By Application Auto Rickshaw, Taxi.
Some of the companies that are profiled in this report are:
Digital Fare Meters Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Digital Fare Meters Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
Reasons to Purchase the Digital Fare Meters Market Report:
Some other reports from this category!