Automated Fare Collection Market Growth, Size, Trends, Demand, Revenue and Future Outlook
Automated Fare Collection Market Size- By Application, By Technology Software, By Component, By Vertical, By System- Regional Outlook, Competitive Strategies, and Segment Forecast to 2033
| Published: Jan-2024 | Report ID: MACH2404 | Pages: 1 - 244 | Formats*: |
| Category : Equipment and Machinery | |||
Automated fare collection Market Introduction and Overview
According to SPER Market Research, the Global Automated fare collection Market is estimated to reach USD XX billion by 2033 with a CAGR of XX%.
The report includes an in-depth analysis of the Global Automated Fare Collection Market, including market size and trends, product mix, applications, and supplier analysis. A software-based ticketing system known as automated fare collection (AFC) is often installed at the entrance and departure of public transport facilities. Buses, metro trains, fast transit systems, and watercraft all use it. It is made up of recharging terminals, ticket selling and checking devices, and an automated gate. Numerous payment methods, including top-ups, physical tickets, mobile applications, open and closed-loop systems, and more, are also compatible with AFC systems. AFCs provide many advantages over traditional fare-collecting systems, including contactless payment, more operational transparency, and fewer opportunities for human mistakes, theft, cloning, or missing payments.
- June 2019: A deal to buy Alvarado Manufacturing Co. Inc., a top producer of physical access solutions including turnstiles and speed gates, was inked by Dormakaba Holding in June 2019.
- August 2018: To increase cloud-based capabilities for small and mid-sized transport operators, Cubic Transportation Systems, Inc. and Delerrok inked a contract in August 2018. Cubic uses its Transit Management as a Service (TMaaS) platform in conjunction with Delerrok's TouchPass technology to provide full payment and real-time information solutions at a reasonable cost.
Market Opportunities and Challenges
One of the main elements fostering a favourable market outlook is the increased adoption of sustainable and intelligent public transport infrastructure, along with the sectors' rapid digitalization. Around the world, AFC systems are being deployed to reduce line wait times and increase public comfort. Additionally, the industry is expanding due to the rising use of smartphone applications for online ticket purchases and travel route information. These applications provide a hassle-free fare payment experience because they are equipped with contactless open payment solutions using debit and credit cards. Other technical developments that are stimulating growth include the creation of near-field communication (NFC) systems and open road tolling (ORT). Further factors are the adoption of supportive government policies aimed at enhancing transport infrastructure and the growing global development of smart cities.
Automated fare collection systems encounter challenges, including high implementation costs, integration complexities, and user acceptance issues. Security concerns, interoperability issues, and the need for ongoing maintenance add complexity. Regulatory compliance, technological obsolescence, and customization for diverse systems pose additional hurdles. Navigating these challenges requires ongoing industry collaboration and adaptation.
Market Competitive Landscape
The major firms in the automated ticket collection sector are devoting funds to R&D endeavours in order to bolster expansion and improve their commercial practices. A comprehensive study of the major market participants based on their financial results, comparisons of their products, important business plans, and recent strategic partnerships will be included in the report. To further improve their products and obtain a competitive edge in the market, businesses are observed entering into partnerships and mergers and acquisitions. Advanced Card Systems Limited (HNA Technology Investments Holdings), Atos SE, Cubic Corporation, NXP Semiconductors N.V., Omron Corporation, Scheidt & Bachmann GmbH, LECIP Group, LG CNS, Samsung SDS, and Thales Group are some of the major players in the industry that have been studied in terms of competition.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Application, By Technology Software, By Component, By Vertical, By System |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | Atos SE, Cubic Corporation, NXP Semiconductors N.V., Omron Corporation, Scheidt & Bachmann GmbH, LECIP Group, LG CNS, Samsung SDS, and Thales Group |
COVID-19 Impact on Global Automated Fare Collection Market
The pandemic has significantly affected public mobility, with remote work becoming the norm and public transport services being limited or suspended since March 2020. Despite some easing of restrictions, major cities worldwide still witness a substantial 70% to 90% reduction in public transit ridership. This shift has prompted a remarkable transformation in the payment landscape, where individuals increasingly turn to digital payment solutions for contactless transactions. Looking ahead to the post-COVID era, heightened health concerns, and widespread digital adoption are expected to propel the demand for contactless and automated payment systems in the next decade.
Key Target Audience:
- Transportation authorities and agencies
- Government Authorities
- Technology providers
- system integrators
- Smart Card Manufacturers
- Financial institution
- Passenger and commuter community
Our in-depth analysis of the Automated fare collection Market includes the following segments:
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Key Topics Covered in the Report:
- Global Automated Fare Collection Market Size (FY’2023-FY’2033)
- Overview of Global Automated Fare Collection Market
- Segmentation of Global Automated Fare Collection Market By Application (Parking Applications, Rail and Transport, Theme Park Applications and others)
- Segmentation of Global Automated Fare Collection Market By Technology Software (Magnetic Strips, Near Field Communication, Optical Character Recognition, Smart Card and others)
- Segmentation of Global Automated Fare Collection Market By Vertical (Government, Media & Entertainment, Retail, Transportation and Logistics and others)
- Segmentation of Global Automated Fare Collection Market By Component (Hardware and software)
- Segmentation of Global Automated Fare Collection Market By System (Fare gates, IC Card, Ticket Office Machine, Ticket Vending Machine)
- Statistical Snap of Global Automated Fare Collection Market
- Expansion Analysis of Global Automated Fare Collection Market
- Problems and Obstacles in Global Automated Fare Collection Market
- Competitive Landscape in the Global Automated Fare Collection Market
- Impact of COVID-19 and Demonetization on Global Automated Fare Collection Market
- Details on Current Investment in Global Automated Fare Collection Market
- Competitive Analysis of Global Automated Fare Collection Market
- Prominent Players in the Global Automated Fare Collection Market
- SWOT Analysis of Global Automated Fare Collection Market
- Global Automated Fare Collection Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity, and Challenges Analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Global Automated Fare Collection Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Automated Fare Collection Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Automated Fare Collection Market
7. Global Automated Fare Collection Market, By Application USD Million)
7.1. Global Automated Fare Collection Market Value Share and Forecast, By Application, 2023-20337.2. Parking applications7.3. Rail and Transport7.4. Theme park applications7.5. Others
8. Global Automated Fare Collection Market, By Technology Software (USD Million)
8.1. Global Automated Fare Collection Market Value Share and Forecast, By Technology Software , 2023-20338.2. Magnetic Strips8.3. Near field communication8.4. Optical Character Recognition8.5. Smart card8.6. Others
9. Global Automated Fare Collection Market, By Vertical (USD Million)
9.1. Global Automated Fare Collection Market Value Share and Forecast, By Vertical, 2023-20339.2. Government9.3. Media & Entertainment9.4. Retail9.5. Transportation and logistics9.6. Others
10. Global Automated Fare Collection Market, By Component (USD Million)
10.1. Global Automated Fare Collection Market Value Share and Forecast, By Component, 2023-203310.2. Hardware10.3. Software
11. Global Automated Fare Collection Market, By System (USD Million)
11.1. Global Automated Fare Collection Market Value Share and Forecast, By System, 2023-203311.2. Fare Gates11.3. IC Card11.4. Ticket Office Machine11.5. Ticket Vending Machine11.6. Others
12. Global Automated Fare Collection Market Forecast, 2019-2033 (USD Million)
12.1. Global Automated Fare Collection Market Size and Market Share
13. Global Automated Fare Collection Market, By Application 2019-2033 (USD Million)
13.1. Global Automated Fare Collection Market Size and Market Share By Application (2019-2026)13.2. Global Automated Fare Collection Market Size and Market Share By Application (2027-2033)
14. Global Automated Fare Collection Market, By Technology Software, 2019-2033 (USD Million)
14.1. Global Automated Fare Collection Market Size and Market Share By Technology Software (2019-2026)14.2. Global Automated Fare Collection Market Size and Market Share By Technology Software (2027-2033)
15. Global Automated Fare Collection Market, By Vertical, 2019-2033 (USD Million)
15.1. Global Automated Fare Collection Market Size and Market Share By Vertical (2019-2026)15.2. Global Automated Fare Collection Market Size and Market Share By Vertical (2027-2033)
16. Global Automated Fare Collection Market, By System, 2019-2033 (USD Million)
16.1. Global Automated Fare Collection Market Size and Market Share By System (2019-2026)16.2. Global Automated Fare Collection Market Size and Market Share By System (2027-2033)
17. Global Automated Fare Collection Market, By Component, 2019-2033 (USD Million)
17.1. Global Automated Fare Collection Market Size and Market Share By Component (2019-2026)17.2. Global Automated Fare Collection Market Size and Market Share By Component (2027-2033)
18. Global Automated Fare Collection Market, By Region, 2019-2033 (USD Million)
18.1. Global Automated Fare Collection Market Size and Market Share By Region (2019-2026)18.2. Global Automated Fare Collection Market Size and Market Share By Region (2027-2033)18.3. Asia-Pacific18.3.1. Australia18.3.2. China18.3.3. India18.3.4. Japan18.3.5. South Korea18.3.6. Rest of Asia-Pacific18.4. Europe18.4.1. France18.4.2. Germany18.4.3. Italy18.4.4. Spain18.4.5. United Kingdom18.4.6. Rest of Europe18.5. Middle East and Africa18.5.1. Kingdom of Saudi Arabia18.5.2. United Arab Emirates18.5.3. Rest of Middle East & Africa18.6. North America18.6.1. Canada18.6.2. Mexico18.6.3. United States18.7. Latin America18.7.1. Argentina18.7.2. Brazil18.7.3. Rest of Latin America
19. Company Profile
19.1. Atos SE19.1.1. Company details19.1.2. Financial outlook19.1.3. Product summary19.1.4. Recent developments19.2. Cubic Transportation Systems, Inc.19.2.1. Company details19.2.2. Financial outlook19.2.3. Product summary19.2.4. Recent developments19.3. Dormakaba Holding19.3.1. Company details19.3.2. Financial outlook19.3.3. Product summary19.3.4. Recent developments19.4. LECIP Group19.4.1. Company details19.4.2. Financial outlook19.4.3. Product summary19.4.4. Recent developments19.5. LG CNS19.5.1. Company details19.5.2. Financial outlook19.5.3. Product summary19.5.4. Recent developments19.6. NXP semiconductors19.6.1. Company details19.6.2. Financial outlook19.6.3. Product summary19.6.4. Recent developments19.7. OMRON Corporation19.7.1. Company details19.7.2. Financial outlook19.7.3. Product summary19.7.4. Recent developments19.8. Samsung SDS19.8.1. Company details19.8.2. Financial outlook19.8.3. Product summary19.8.4. Recent developments19.9. Scheidt&bacchhan Gmbh19.9.1. Company details19.9.2. Financial outlook19.9.3. Product summary19.9.4. Recent developments19.10. Thales Group19.10.1. Company details19.10.2. Financial outlook19.10.3. Product summary19.10.4. Recent developments19.11. Others
20. List of Abbreviations
21. Reference Links
22. Conclusion
23. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Automated Fare Collection Market is projected to reach USD XX Billion by 2033, growing at a CAGR of XX% during the forecast period.
Automated Fare Collection Market grew in market size from 2023. The Market is expected to reach USD XX Billion by 2033, at a CAGR of XX% during the forecast period.
Automated Fare Collection Market CAGR of XX% during the forecast period.
You can get the sample pages by clicking the link -Click Here
Automated Fare Collection Market size is USD XX Billion from 2023 to 2033.
Automated Fare Collection Market Segment is Covered By Application, By Technology Software, By Component, By Vertical, By System
The North America region is anticipated to have the highest market share in Automated Fare Collection Market.
The key players in the market include Companies Covered Atos SE, Cubic Corporation, NXP Semiconductors N.V., Omron Corporation, Scheidt & Bachmann GmbH, LECIP Group, LG CNS, Samsung SDS, and Thales Group
Automated Fare Collection Market, including market size and trends, product mix, applications, and supplier analysis. A software-based ticketing system known as automated fare collection (AFC) is often installed at the entrance and departure of public transport facilities.
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