Automated Fare Collection 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 market size is estimated at USD 10,100.6 million in 2020, expanding at a CAGR 11.6% from 2021-2027 to reach 15,816.1 million USD in 2027.
Market Dynamics
The shifting payment view of customers eliminates the need for physical currency and reduces transit time, which aids in the elimination of long ticket line-ups, and is a key driving factor for the automation fare collecting system industry. A cashless, end-to-end method for accepting fare payment & implementing different ticketing systems with automated registration is a non - contact fare billing system. Automatic door devices, ticket dispensing computers, recharge stations, and ticket verification machines are all part of it.
One of the main reasons propelling the market growth is the capacities required for hardship and effective transportation methods. Increased use of cashless transactions, real-time transactions, and online payment methods including such as credit card, debit card, and Nearby Field Communications (NFC) earnings are expected are also expected to fuel market expansion during the projected period. Furthermore, growing regional cooperation between system integrators and transportation agencies including airports, railroads, and car parks is fuelling market expansion. The widespread use of wireless connections, cell phones, and contactless technologies for electronic transfers, together with the variable tariff plans provided by these systems, is projected to drive industry development.
North America dominated the worldwide market in 2020 and it will likely remain this throughout the coming years due to the nation's rapid adoption of innovative technology. Factors like an increasing tech-savvy community, enhanced technology, and telecommunications technology deployment, as well as a large percentage of mobile users, have all played a role in the region's extensive implementation and adoption of AFC technologies throughout the years. The APAC regional industry for AFC technologies is seeing a spike in popularity. This is largely due to growing expenditures by emerging-market administrations in railway building infrastructure, national highways growth, and metro constructions to enable multi and sub commuting.
The Automated Fare Collection market is fragmented into the component, application, system, and technology segments. Based on the component, the hardware segment is anticipated to dominate the market. By application, the railways & transport segment is projected to grow at the highest CAGR during the forecast period. By system, the TVM segment is expected to hold the majority of the market share. By technology smart card innovation dominated the market in 2020 as well as is anticipated to do so again throughout the projected timeframe due to its greater operational adaptability and quicker information execution over stripe.
Because of the purchase of smaller enterprises by larger corporations, the market has become more concentrated. Leading firms are also focused on M&A and forming partnerships and alliances to develop their company processes in the Asia Pacific and Germany's rising regions. Cubic Corp., for example, formed a partnership and cooperation deal with Delerrok Inc., a global leader of internet electronic fee collecting solutions for medium and small public transportation, in 2020.
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 Collections by component, region, systems, technology, and application. 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.):
- GMV
- Indra
- Advanced Card Systems Holdings Limited
- Atos SE
- Cubic Transportation Systems, Inc.
- dormakaba Holding
- LECIP Group
- LG CNS
- NXP Semiconductors
- OMRON Corporation
- Samsung SDS
- Scheidt&Bacchhan Gmbh
- Thales Group
Component Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Software
- Hardware
Systems Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Ticket Office Machine (TOM)
- Ticket Vending Machine (TVM)
- Fare Gates
- IC Cards
Technology Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Magnetic Stripe
- Smart Card
- Near Field Communication (NFC)
- Optical Character Recognition (OCR)
Application Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Parking
- Railways & Transportation
- 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.)
- South America (Brazil, Mexico, Argentina, etc.)
- Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa, etc.)
Table Of Content
1. Automated Fare Collection Market Overview
1.1. Product Overview and Scope of Automated Fare Collection
1.2. Global Market Growth Prospects and Revenue Estimates
1.3. Global Automated Fare Collection Market Size Growth Rate Analysis by Technology 2020 VS 2027
1.3.1. Smart Card
1.3.2. Magnetic Stripe
1.3.3. Near Field Communication (NFC)
1.3.4. Optical Character Recognition (OCR)
1.4. Global Automated Fare Collection Consumption Comparison by Application: 2020 VS 2027
1.4.1. Railways & Transportation
1.4.2. Parking
1.4.3. Entertainment
1.4.4. Others
1.5. Global Automated Fare Collection Consumption Comparison by Component: 2020 VS 2027
1.5.1. Hardware
1.5.2. Software
1.6. Global Automated Fare Collection Consumption Comparison by Service: 2020 VS 2027
1.6.1. Ticket Vending Machine (TVM)
1.6.2. Ticket Office Machine (TOM)
1.6.3. Fare Gates
1.6.4. IC Cards
1.7. Global Automated Fare Collection Market Size Estimates and Forecasts by Region: 2020 VS 2027
1.7.1. North America Automated Fare Collection Estimates
1.7.2. Europe Automated Fare Collection Estimates
1.7.3. China Automated Fare Collection Estimates
1.7.4. Japan Automated Fare Collection Estimates
2. Market Competition by Manufacturers
2.1. Global Automated Fare Collection Revenue Market Share by Manufacturers (2020)
2.2. Automated Fare Collection Market Share by Company Technology (Tier 1, Tier 2 and Tier 3)
2.3. Global Automated Fare Collection Average Price by Manufacturers (2016-2021)
2.4. Manufacturers Automated Fare Collection Production Sites, Area Served, Product Types
2.5. Automated Fare Collection Market Competitive Situation and Trends
2.5.1. Automated Fare Collection Market Concentration Rate
2.5.2. Mergers & Acquisitions, Expansion
3. Global Automated Fare Collection Consumption by Region (2016-2021)
3.1. Global Automated Fare Collection Consumption by Region
3.2. Global Automated Fare Collection Consumption Market Share by Region
3.2.1. North America
3.2.2. North America Automated Fare Collection Consumption Growth Rate (2016-2021)
3.2.3. North America Automated Fare Collection Consumption, Price and Gross Margin (2016-2021)
3.2.4. North America Automated Fare Collection 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 Consumption Growth Rate (2016-2021)
3.2.7. Europe Automated Fare Collection Consumption, Price and Gross Margin (2016-2021)
3.2.8. Europe Automated Fare Collection 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 Consumption Growth Rate (2016-2021)
3.2.11. Asia Pacific Automated Fare Collection Consumption, Price and Gross Margin (2016-2021)
3.2.12. Asia Pacific Automated Fare Collection 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. South Korea
3.2.13. South America
3.2.14. South America Automated Fare Collection Consumption Growth Rate (2016-2021)
3.2.15. South America Automated Fare Collection Consumption, Price and Gross Margin (2016-2021)
3.2.16. South America Automated Fare Collection 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 Consumption Growth Rate (2016-2021)
3.2.19. Middle East and Africa Automated Fare Collection Consumption, Price and Gross Margin (2016-2021)
3.2.20. Middle East and Africa Automated Fare Collection Consumption by Country
3.2.20.1. Saudi Arabia
3.2.20.2. Kuwait
3.2.20.3. UAE
3.2.20.4. South Africa
4. Global Automated Fare Collection Consumption by Technology (2016-2021)
4.1. Global Automated Fare Collection Price by Technology (2016-2021)
4.2. Global Automated Fare Collection Revenue Market Share by Technology (2016-2021)
4.2.1. Smart Card
4.2.2. Near Field Communication (NFC)
4.2.3. Magnetic Stripe
4.2.4. Optical Character Recognition (OCR)
5. Global Automated Fare Collection Consumption by Application (2016-2021)
5.1. Global Automated Fare Collection Price by Application (2016-2021)
5.2. Global Automated Fare Collection Revenue Market Share by Application (2016-2021)
5.2.1. Railways & Transportation
5.2.2. Parking
5.2.3. Entertainment
5.2.4. Others
6. Global Automated Fare Collection Consumption by Component (2016-2021)
6.1. Global Automated Fare Collection Price by Component (2016-2021)
6.2. Global Automated Fare Collection Revenue Market Share by Component (2016-2021)
6.2.1. Hardware
6.2.2. Software
7. Global Automated Fare Collection Consumption by System (2016-2021)
7.1. Global Automated Fare Collection Price by System (2016-2021)
7.2. Global Automated Fare Collection Revenue Market Share by System (2016-2021)
7.2.1. Ticket Vending Machine (TVM)
7.2.2. Ticket Office Machine (TOM)
7.2.3. Fare Gates
7.2.4. IC Cards
8. Key Companies Profiled
8.1. GVM
8.1.1. GVM Automated Fare Collection Corporation Information
8.1.2. GVM Automated Fare Collection Product Portfolio
8.1.3. GVM Automated Fare Collection Consumption, Price and Gross Margin (2016-2021)
8.1.4. GVM Main Business and Markets Served
8.1.5. GVM Recent Developments/Updates
8.2. Indra
8.3. Advanced Card Systems Holdings Limited
8.4. Atos SE
8.5. Cubic Transportation Systems, Inc.
8.6. dormakaba Holding
8.7. LECIP Group
8.8. LG CNS
8.9. NXP Semiconductors
8.10. OMRON Corporation
8.11. Samsung SDS
8.12. Scheidt&Bacchhan Gmbh
8.13. Thales Group
9. Marketing Channel, Distributors and Customers
9.1. Marketing Channel
9.2. Automated Fare Collection Distributors List
9.3. Automated Fare Collection Customers
10. Market Dynamics
10.1. Automated Fare Collection Industry Trends
10.2. Automated Fare Collection Growth Drivers
10.3. Automated Fare Collection Market Challenges
10.4. Automated Fare Collection Market Restraints
11. Global Automated Fare Collection Consumption and Demand Forecast, by Region (2022-2027)
11.1. Global Forecasted Demand Analysis of Automated Fare Collection, by Regions and Country
11.1.1. North America Forecasted Consumption of Automated Fare Collection by Country
11.1.2. Europe Market Forecasted Consumption of Automated Fare Collection by Country
11.1.3. Asia Pacific Market Forecasted Consumption of Automated Fare Collection by Region
11.1.4. Latin America Forecasted Consumption of Automated Fare Collection by Country
11.1.5. Middle East and Africa Forecasted Consumption of Automated Fare Collection by Country
12. Global Automated Fare Collection Consumption and Demand Forecast, by Component Segments (2022-2027)
12.1. Global Forecasted Consumption of Automated Fare Collection by Component Segments (2022-2027)
12.2. Global Consumption and Price Forecast by Component Segments (2022-2027)
12.3. Global Forecasted Growth Rate of Automated Fare Collection by Component Segments (2022-2027)
13. Global Automated Fare Collection Consumption and Demand Forecast, by System Segments (2022-2027)
13.1. Global Forecasted Consumption of Automated Fare Collection by System Segments (2022-2027)
13.2. Global Consumption and Price Forecast by System Segments (2022-2027)
13.3. Global Forecasted Growth Rate of Automated Fare Collection by System Segments (2022-2027)
14. Global Automated Fare Collection Consumption and Demand Forecast, by Application Segments (2022-2027)
14.1. Global Forecasted Consumption of Automated Fare Collection by Application Segments (2022-2027)
14.2. Global Consumption and Price Forecast by Application Segments (2022-2027)
14.3. Global Forecasted Growth Rate of Automated Fare Collection by Application Segments (2022-2027)
15. Global Automated Fare Collection Consumption and Demand Forecast, by Technology Segments (2022-2027)
15.1. Global Forecasted Consumption of Automated Fare Collection by Technology Segments (2022-2027)
15.2. Global Consumption and Price Forecast by Technology Segments (2022-2027)
15.3. Global Forecasted Growth Rate of Automated Fare Collection by Technology Segments (2022-2027)
16. Research Finding and Conclusion
17. Methodology and Data Source
17.1. Methodology/Research Approach
17.1.1. Research Programs/Technology
17.1.2. Market Size Estimation
17.1.3. Market Breakdown and Data Triangulation
17.2. Data Source
17.2.1. Secondary Sources
17.2.2. Primary Sources
17.3. Author List
17.4. 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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