Automated Fare Collection System Market
Global Automated Fare Collection System Market Size, Share & Trends Analysis Report by Technology (Magnetic Strip, Smart Cards, Optical Character Recognition (OCR), and Near Field Communication (NFC)), By Application (Railway & Transport, Parking, Entertainment, and Others), and Forecast 2019-2025 Update Available - Forecast 2024-2030
The global automated fare collection system market is projected to grow at a significant CAGR during the forecast period. The contactless end-to-end solution for the collection of fare and alternate solutions for the traditional ticketing system is the automated fare collection system. The systems include ticket vending machines and ticket checking machines, automatic gate machines, and recharging terminals. It aids in providing efficiency to the fare collection and enhances overall transaction rates.
The primary factors that drive the growth of the overall market include the supportive government initiatives that are engaged in the development of sustainable and smart transportation infrastructure. For instance, the government in UK and the Netherlands have introduced these systems to provide smart card technology for the authorities. Further, the increased use of advanced fare collection technologies such as smartcards and electronic payment systems and the growing usage of smartphones for accessing travel information applications are likely to enhance the overall growth of the market during the forecast period.
However, some of the factors that may negatively affect the growth of the market include higher installation and maintenance costs. These systems require higher costs than the overall toll collection systems due to which there may be some delay or may decrease the adoption of these systems. Besides, the various facilities and efficiency provided by these, such as smaller queues and waiting time are the factors that are likely to provide growth opportunities for the market growth in the near future.
Segmental Outlook
The global automated fare collection system market is segmented on the basis of technology and application. Based on the technology, the market is segmented into the magnetic strip, smart cards, optical character recognition (OCR), and near field communication (NFC). Further, based on the application, the market is segmented into railway & transport, parking, entertainment, and others such as toll collection.
Smart Cards Segment to Considerably Grow Over the Forecast Period
Amongst the technology of the global AFC market, the smart cards segment is expected to grow considerably over the forecast period. The smart cards provide various facilities such as efficient fare collection, saves time, improves the overall transaction rate, and also reduces waiting time in queues for buying tickets. The smart card also offers travelers to carry just a single card for all transit modes. For instance, in Abu Dhabi, the UAE administration and Xerox transportation solutions implemented an automated fare collection system for buses offering a single card for the usage of transit modes. Thus, it is expected to considerably drive the segmental growth of the over the forecast period.
Regional Outlook
The global drive the segmental growth of the market is geographically segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Europe is expected to hold a significant share in the global market during the forecast period. This is attributed to the increased implementation of these systems across the region along with the government supportive initiatives for the implementation of these systems. Thus, this is projected to propel the growth of the market in the region during the forecast period.
Further, Asia-Pacific is also expected to witness significant growth in the market owing to the increased focus of the government towards infrastructural development in countries such as India. Expansion of railway infrastructure, highway networks, and metro projects to considerably drive the regional growth of the market during the forecast period.
Global Automated Fare Collection System Market by Region, 2018 (%)
Market Players Outlook
Some of the prominent players operating in the global drive the segmental growth of the market include Advanced Card Systems Ltd., NEC Corp., Nippon Signal Co. Ltd., NXP Semiconductors NV, Scheidt & Bachmann GmbH, Thales Group, Xerox Corp. and others. These are the key companies adopting several organic and inorganic growth strategies such as product launches & developments, partnerships, agreements, and acquisitions to strengthen their product portfolios and maintain a competitive position in the global automated fare collection system market.
Further, companies such as Apple, Google, and Samsung are also playing a vital role in the payment of transportation fees using automated fare collection systems via smartphones. Smartphones allow various applications such as on-board ticketing, and online ticketing into smart ticketing solutions which also aid in the market growth.
The Report Covers
- Market value data analysis of 2018 and forecast to 2025.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global automated fare collection system market. Based on the availability of data, information related to products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
2.3. Rules & Regulations
3. Competitive Landscape
3.1. Key Strategy Analysis
3.2. Key Company Analysis
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Automated Fare COLLECTION System Market by Technology
5.1.1. Magnetic Strip
5.1.2. Smart Cards
5.1.3. Optical Character Recognition (OCR)
5.1.4. Near Field Communication (NFC)
5.2. Global Automated Fare COLLECTION System Market by Application
5.2.1. Railway & Transport
5.2.2. Parking
5.2.3. Entertainment
5.2.4. Others (Toll Collection on Highways)
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. Advanced Card Systems Ltd.
7.2. Advantech Co. Ltd.
7.3. Atos SE
7.4. Cubic Corp.
7.5. Eurotech Group
7.6. GMV Group
7.7. LECIP Holdings Corp.
7.8. Mikroelektronika spol. s r.o.
7.9. NEC Corp.
7.10. Nippon Signal Co. Ltd.
7.11. NXP Semiconductors NV
7.12. Scheidt & Bachmann GmbH
7.13. Smartrac Technology GmbH
7.14. SWARCO AG
7.15. Telexis B.V.,
7.16. Thales Group
7.17. Trapeze Group
7.18. Xerox Corp.
1. GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2018-2025 ($ MILLION)
2. GLOBAL MAGNETIC STRIP AUTOMATED FARE COLLECTION SYSTEM MARKET RESEARCH AND ANALYSIS, 2018-2025 ($ MILLION)
3. GLOBAL SMART CARDS BASED AUTOMATED FARE COLLECTION SYSTEM MARKET RESEARCH AND ANALYSIS, 2018-2025 ($ MILLION)
4. GLOBAL OPTICAL CHARACTER RECOGNITION BASED AUTOMATED FARE COLLECTION SYSTEM MARKET RESEARCH AND ANALYSIS, 2018-2025 ($ MILLION)
5. GLOBAL NEAR FIELD COMMUNICATION (NFC) BASED AUTOMATED FARE COLLECTION SYSTEM MARKET RESEARCH AND ANALYSIS, 2018-2025 ($ MILLION)
6. GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2018-2025 ($ MILLION)
7. GLOBAL AUTOMATED FARE COLLECTION SYSTEM FOR RAILWAYS & TRANSPORT MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
8. GLOBAL AUTOMATED FARE COLLECTION SYSTEM FOR PARKING MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
9. GLOBAL AUTOMATED FARE COLLECTION SYSTEM FOR ENTERTAINMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
10. GLOBAL AUTOMATED FARE COLLECTION SYSTEM FOR OTHER APPLICATIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
11. GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2018-2025 ($ MILLION)
12. NORTH AMERICAN AUTOMATED FARE COLLECTION SYSTEM MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2018-2025 ($ MILLION)
13. NORTH AMERICAN AUTOMATED FARE COLLECTION SYSTEM MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2018-2025 ($ MILLION)
14. NORTH AMERICAN AUTOMATED FARE COLLECTION SYSTEM MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2018-2025 ($ MILLION)
15. EUROPEAN AUTOMATED FARE COLLECTION SYSTEM MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2018-2025 ($ MILLION)
16. EUROPEAN AUTOMATED FARE COLLECTION SYSTEM MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2018-2025 ($ MILLION)
17. EUROPEAN AUTOMATED FARE COLLECTION SYSTEM MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2018-2025 ($ MILLION)
18. ASIA-PACIFIC AUTOMATED FARE COLLECTION SYSTEM MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2018-2025 ($ MILLION)
19. ASIA-PACIFIC AUTOMATED FARE COLLECTION SYSTEM MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2018-2025 ($ MILLION)
20. ASIA-PACIFIC AUTOMATED FARE COLLECTION SYSTEM MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2018-2025 ($ MILLION)
21. REST OF THE WORLD AUTOMATED FARE COLLECTION SYSTEM MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2018-2025 ($ MILLION)
22. REST OF THE WORLD AUTOMATED FARE COLLECTION SYSTEM MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2018-2025 ($ MILLION)
1. GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET SHARE BY TECHNOLOGY, 2018 VS 2025 (%)
2. GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET SHARE BY APPLICATION, 2018 VS 2025 (%)
3. GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET SHARE BY GEOGRAPHY, 2018 VS 2025 (%)
4. US AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE, 2018-2025 ($ MILLION)
5. CANADA AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE, 2018-2025 ($ MILLION)
6. UK AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE, 2018-2025 ($ MILLION)
7. FRANCE AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE, 2018-2025 ($ MILLION)
8. GERMANY AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE, 2018-2025 ($ MILLION)
9. ITALY AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE, 2018-2025 ($ MILLION)
10. SPAIN AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE, 2018-2025 ($ MILLION)
11. ROE AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE, 2018-2025 ($ MILLION)
12. INDIA AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE, 2018-2025 ($ MILLION)
13. CHINA AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE, 2018-2025 ($ MILLION)
14. JAPAN AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE, 2018-2025 ($ MILLION)
15. REST OF ASIA-PACIFIC AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE, 2018-2025 ($ MILLION)
16. REST OF THE WORLD AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE, 2018-2025 ($ MILLION)
