Automated Fare Collection System Market Status (2016-2020) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2021-2027
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.)
Table Of Content
1. Automated Fare Collection System Market Overview Refrigerants
1.1. Product Overview and Scope of Automated Fare Collection System
1.2. Global Market Growth Prospects and Revenue Estimates
1.3. Global Automated Fare Collection System Market Size Growth Rate Analysis by Component: 2020 VS 2027
1.3.1. Hardware
1.3.2. Software
1.3.3. Services
1.4. Global Automated Fare Collection System Consumption Comparison by Technology: 2020 VS 2027
1.4.1. Smart Card
1.4.2. Magnetic stripes
1.4.3. Optical Character Recognition (OCR)
1.4.4. Near Field Communications
1.4.5. Others
1.5. Global Automated Fare Collection System Consumption Comparison by End-Use: 2020 VS 2027
1.5.1. Railways & Transportation
1.5.2. Car Rental
1.5.3. Toll
1.5.4. Parking
1.5.5. Entertainment
1.5.6. Others
1.6. Global Automated Fare Collection System Market Size Estimates and Forecasts by Region: 2020 VS 2027
1.6.1. North America Automated Fare Collection System Estimates
1.6.2. Europe Automated Fare Collection System Estimates
1.6.3. Asia-Pacific Automated Fare Collection System Estimates
1.6.4. Latin America Automated Fare Collection System Estimates
1.6.5. Middle East & Africa Automated Fare Collection System Estimates
2. Market Competition by Manufacturers
2.1. Global Automated Fare Collection System Revenue Market Share by Manufacturers (2020)
2.2. Automated Fare Collection System Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.3. Global Automated Fare Collection System Average Price by Manufacturers (2016-2021)
2.4. Manufacturers Automated Fare Collection System Production Sites, Area Served, Product Types
2.5. Automated Fare Collection System Market Competitive Situation and Trends
2.5.1. Automated Fare Collection System Market Concentration Rate
2.5.2. Mergers & Acquisitions, Expansion
3. Global Automated Fare Collection System Consumption by Region (2016-2021)
3.1. Global Automated Fare Collection System Consumption by Region
3.2. Global Automated Fare Collection System Consumption Market Share by Region
3.2.1. North America
3.2.2. North America Automated Fare Collection System Consumption Growth Rate (2016-2021)
3.2.3. North America Automated Fare Collection System Consumption, Price and Gross Margin (2016-2021)
3.2.4. North America Automated Fare Collection System Consumption by Country
3.2.4.1. U.S.
3.2.4.2. Canada
3.2.5. Europe
3.2.6. Europe Automated Fare Collection System Consumption Growth Rate (2016-2021)
3.2.7. Europe Automated Fare Collection System Consumption, Price and Gross Margin (2016-2021)
3.2.8. Europe Automated Fare Collection System Consumption by Country
3.2.8.1. Germany
3.2.8.2. U.K.
3.2.8.3. France
3.2.8.4. Italy
3.2.8.5. Spain
3.2.9. Asia Pacific
3.2.10. Asia Pacific Automated Fare Collection System Consumption Growth Rate (2016-2021)
3.2.11. Asia Pacific Automated Fare Collection System Consumption, Price and Gross Margin (2016-2021)
3.2.12. Asia Pacific Automated Fare Collection System Consumption by Country
3.2.12.1. China
3.2.12.2. India
3.2.12.3. Japan
3.2.12.4. Indonesia
3.2.12.5. Malaysia
3.2.12.6. Australia
3.2.12.7. Latin Korea
3.2.13. Latin America
3.2.14. Latin America Automated Fare Collection System Consumption Growth Rate (2016-2021)
3.2.15. Latin America Automated Fare Collection System Consumption, Price and Gross Margin (2016-2021)
3.2.16. Latin America Automated Fare Collection System Consumption by Country
3.2.16.1. Brazil
3.2.16.2. Mexico
3.2.16.3. Argentina
3.2.17. Middle East and Africa
3.2.18. Middle East and Africa Automated Fare Collection System Consumption Growth Rate (2016-2021)
3.2.19. Middle East and Africa Automated Fare Collection System Consumption, Price and Gross Margin (2016-2021)
3.2.20. Middle East and Africa Automated Fare Collection System Consumption by Country
3.2.20.1. Saudi Arabia
3.2.20.2. Kuwait
3.2.20.3. UAE
3.2.20.4. Latin Africa
4. Global Automated Fare Collection System Consumption by Component (2016-2021)
4.1. Global Automated Fare Collection System Price by Component (2016-2021)
4.2. Global Automated Fare Collection System Revenue Market Share by Component (2016-2021)
4.2.1. Hardware
4.2.2. Software
4.2.3. Services
5. Global Automated Fare Collection System Consumption by Technology (2016-2021)
5.1. Global Automated Fare Collection System Price by Technology (2016-2021)
5.2. Global Automated Fare Collection System Revenue Market Share by Technology (2016-2021)
5.2.1. Smart Card
5.2.2. Magnetic stripes
5.2.3. Optical Character Recognition (OCR)
5.2.4. Near Field Communications
5.2.5. Others
6. Global Automated Fare Collection System Consumption by End-Use (2016-2021)
6.1. Global Automated Fare Collection System Price by End-Use (2016-2021)
6.2. Global Automated Fare Collection System Revenue Market Share by End-Use (2016-2021)
6.2.1. Railways & Transportation
6.2.2. Car Rental
6.2.3. Toll
6.2.4. Parking
6.2.5. Entertainment
6.2.6. Others
7. Key Companies Profiled
7.1. Advanced Card Systems Ltd.
7.1.1. Advanced Card Systems Ltd. Automated Fare Collection System Corporation Information
7.1.2. Advanced Card Systems Ltd. Automated Fare Collection System Product Portfolio
7.1.3. Advanced Card Systems Ltd. Automated Fare Collection System Consumption, Price and Gross Margin (2016-2021)
7.1.4. Advanced Card Systems Ltd. Main Business and Markets Served
7.1.5. Advanced Card Systems Ltd. Recent Developments/Updates
7.2. Atos SE
7.3. Cubic Corporation
7.4. GMV
7.5. Genfare
7.6. Indra Sistemas, S.A
7.7. LECIP Group
7.8. LG Corporation
7.9. Longbow Technologies S/B
7.10. OMRON Corporation
7.11. ST Electronics
7.12. Samsung SDS Co. Ltd.
7.13. Scheidt & Bacchhan Gmbh
7.14. Siemens AG
7.15. Singapore Technologies Electronics Limited
7.16. Thales Group
7.17. Telexis B.V.
7.18. Trapeze Group
7.19. UL Identity Management & Security
7.20. Vix Technology
8. Marketing Channel, Distributors and Customers
8.1. Marketing Channel
8.2. Automated Fare Collection System Distributors List
8.3. Automated Fare Collection System Customers
9. Market Dynamics
9.1. Automated Fare Collection System Industry Trends
9.2. Automated Fare Collection System Growth Drivers
9.3. Automated Fare Collection System Market Challenges
9.4. Automated Fare Collection System Market Restraints
10. Global Automated Fare Collection System Consumption and Demand Forecast, by Region (2022-2027)
10.1. Global Forecasted Demand Analysis of Automated Fare Collection System, by Regions and Country
10.1.1. North America Forecasted Consumption of Automated Fare Collection System by Country
10.1.2. Europe Market Forecasted Consumption of Automated Fare Collection System by Country
10.1.3. Asia Pacific Market Forecasted Consumption of Automated Fare Collection System by Region
10.1.4. Latin America Forecasted Consumption of Automated Fare Collection System by Country
10.1.5. Middle East and Africa Forecasted Consumption of Automated Fare Collection System by Country
11. Global Automated Fare Collection System Consumption and Demand Forecast, by Component Segments (2022-2027)
11.1. Global Forecasted Consumption of Automated Fare Collection System by Component Segments(2022-2027)
11.2. Global Consumption and Price Forecast by Component Segments (2022-2027)
11.3. Global Forecasted Growth Rate of Automated Fare Collection System by Component Segments(2022-2027)
12. Global Automated Fare Collection System Consumption and Demand Forecast, by Technology Segments (2022-2027)
12.1. Global Forecasted Consumption of Automated Fare Collection System by Technology Segments(2022-2027)
12.2. Global Consumption and Price Forecast by Technology Segments (2022-2027)
12.3. Global Forecasted Growth Rate of Automated Fare Collection System by Technology Segments(2022-2027)
13. Global Automated Fare Collection System Consumption and Demand Forecast, by End-Use Segments (2022-2027)
13.1. Global Forecasted Consumption of Automated Fare Collection System by End-Use Segments(2022-2027)
13.2. Global Consumption and Price Forecast by End-Use Segments (2022-2027)
13.3. Global Forecasted Growth Rate of Automated Fare Collection System by End-Use Segments(2022-2027)
14. Research Finding and Conclusion
15. Methodology and Data Source
15.1. Methodology/Research Approach
15.1.1. Research Programs/Design
15.1.2. Market Size Estimation
15.1.3. Market Breakdown and Data Triangulation
15.2. Data Source
15.2.1. Secondary Sources
15.2.2. Primary Sources
15.3. Author List
15.4. Disclaimer
Research Methodology
Our research studies are primarily performed in five phases which include Secondary Research, Primary Research, Subject Matter Expert Advice, Quality Check, and Final Review. The process opted for conducting thorough research to make authentic business reports is briefly described below-
Secondary Research-
- Based on the understanding of requirements, we conducted secondary research to identify the Segment specifications, qualitative and quantitative data along with the factors responsible for the growth of the market.
- The secondary sources referred for the study include press releases, company annual reports, and research papers related to the industry.
- Various sources such as industry magazines, trade journals, government websites, and associations were also reviewed for gathering precise analysis on opportunities for business expansions in the market.
- Moreover, quantitative as well as qualitative data were also extracted from paid databases, which included Reuters, Factiva, Bloomberg, One Source, and Hoovers, which proved to be useful for in-depth technical study of the market.
Primary Research-
- The research carried out during the desk research was verified by primary interviews. Primary research was scheduled with a number of industry experts for conducting telephonic interviews, and also our team send questionnaires through their official emails.
- The secondary data collected was then verified by various industry participants which included Segment managers, marketing managers, VPs, CEOs, purchasing managers, subject matter experts.
- An interview with the mentioned participants aids invalidation of our research findings regarding the Segment.
- It helps in the provision of first-hand data on factors such as market size, growth, regional trends, market trends, and competition in the industry. This approach makes our findings precise in order to help our clients in strategic decision-making processes.
Subject Matter Advice-
- The secondary and primary research key findings were then validated by the in-house subject matter experts having extensive experience in the market research industry.
- Specific requirements of the clients were reviewed by the experts to check for completion of the market study. Experts help in channelizing the representation skills of the analyst in terms of providing data that can be easily understood by our customers.
Quality Check-
- The analysis done by the research team was further reviewed to check for data accuracy provided to suit the clients’ specific requirements.
- This revision was done in various phases to check the data authenticity and to remove negligible errors in the final compilation.
Final Review-
- After the quality check, a final review of the report was done to look after the presentation, formatting, and to recheck if all the requirements of the clients were addressed. The next phase remains dispatch of the report to the client.
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