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Automated Fare Collection System Market Status (2016-2020) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2021-2027

Format: PDF | Pages: 312 | Report ID: MRS1044


Report Description

The global Automated Fare Collection System market size is estimated at USD 6,701.8 million in 2020, expanding at a CAGR of 7.7% from 2021-2027.

Market Dynamics

Automated Fare Collection System is an automated version of the manual fare collection system. It is a contactless, end-to-end solution for collecting fare payments. This advanced technology is used to calculate the fare based on the time of service or the points of entry and exit of the system.

The growing adoption of cashless fare collection systems for transportation modes and the trend to shift toward card payments are major driving factors of the market growth. In Addition, technological advancement along with rising investment by the government to improve the infrastructure of the transport system are expected to witness market growth during the forecast period.

However, high installation & maintenance costs and less adoption rates in developing and underdeveloped countries are likely to hinder the market growth during the forecast period.

Based on Component, the market is bifurcated into Hardware, Software, and Services. The Hardware segment is estimated to hold the largest market share during the forecast period owing to the rising number of deployments of new Automated Fare Collection systems by governments for providing superior public transportation services.

Based on Technology, the market is segmented into Smart Card, Magnetic stripes, Optical Character Recognition (OCR), Near Field Communications, and Others. The Smart Card technology segment witnessed the largest market share during the forecast period owing to its enhanced operating flexibility and faster processing speed than other technologies.

Based on End-Use, the market is bifurcated into Railways & Transportation, Car Rental, Toll, Parking, Entertainment, and Others. The Railways & Transportation segment is projected to hold the largest market share in the Automated Fare Collection System market during the forecast period due to rapid growth in railway infrastructure, highway networks, and development of expressways across many countries.

Regionally, the North American region holds the largest revenue share in 2020 and is estimated to register significant growth during the forecast period owing to the rapid adoption of emerging technologies in this region.

On the other hand, Asia Pacific accounted for a significant growth rate during the forecast period owing to the increasing investments from governments, growing digital payment infrastructure, and higher smartphone penetration in the region.

Some of the prominent players are Advanced Card Systems Ltd., Atos SE, Cubic Corporation, GMV, Genfare, Indra Sistemas, S.A., LECIP Group, LG Corporation, Longbow Technologies S/B, OMRON Corporation, ST Electronics, Samsung SDS Co. Ltd., Scheidt & Bacchhan Gmbh, Siemens AG, Singapore, Technologies Electronics Limited, Thales Group, Telexis B.V., Trapeze Group, UL Identity Management & Security and Vix Technology, among others.

The report begins with an overview of the Industry Chain structure, and describes the industry environment, then analyses market size and forecast of Automated Fare Collection System Market by component, technology, end-use, and region. In addition, this report introduces the market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.

Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products, etc.):

  • Advanced Card Systems Ltd.
  • Atos SE
  • Cubic Corporation
  • GMV
  • Genfare
  • Indra Sistemas, S.A
  • LECIP Group
  • LG Corporation
  • Longbow Technologies S/B
  • OMRON Corporation
  • ST Electronics
  • Samsung SDS Co. Ltd.
  • Scheidt & Bacchhan Gmbh
  • Siemens AG
  • Singapore Technologies Electronics Limited
  • Thales Group
  • Telexis B.V.
  • Trapeze Group
  • UL Identity Management & Security
  • Vix Technology

Component Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Hardware
  • Software
  • Services

Technology Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Smart Card
  • Magnetic stripes
  • Optical Character Recognition (OCR)
  • Near Field Communications
  • Others

End-Use Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Railways & Transportation
  • Car Rental
  • Toll
  • Parking
  • Entertainment
  • Others

Region Coverage (Regional Consumption, Demand & Forecast by Countries, etc.):

  • North America (U.S., and Canada)
  • Europe (Germany, U.K., France, Italy, Spain, etc.)
  • Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
  • Latin America (Brazil, Mexico, Argentina, etc.)
  • Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa, etc.)

Frequently Asked Questions

The global Automated Fare Collection System market size is estimated at USD 6,701.8 million in 2020, expanding at a CAGR 7.7% from 2021-2027.
North America captured the highest revenue in 2021 and is projected to continue its dominance during the study period.
The global industry is growing at a promising growth rate over the study period.
Asia Pacific (especially China, and India) region is projected to grow at the fastest growth rate during the study period.
The worldwide market is characterized by the presence of large number of small scale and medium scale players.

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