Automated Fare Collection Market Growth, Size, Trends, Demand, Revenue and Future Outlook: SPER Market Research

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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.

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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:

By Application:	Parking applications Rail and Transport Theme park applications
By Technology Software:	Magnetic Strips Near field communication Optical Character Recognition Smart card
By Vertical:	Government Media & Entertainment Retail Transportation and logistics
By Component:	Hardware Software
By System:	Fare Gates IC Card Ticket Office Machine Ticket Vending Machine

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 report
1.2. Market segment analysis

2. Research Methodology

2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation

3. Executive Summary

4. Market Dynamics

4.1. Driver, Restraint, Opportunity, and Challenges Analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Automated Fare Collection Market

5. Market variable and outlook

5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis

6. Competitive Landscape

6.1. Global Automated Fare Collection Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. 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, 2023-2033
7.2. Parking applications
7.3. Rail and Transport
7.4. Theme park applications
7.5. 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 , 2023-2033
8.2. Magnetic Strips
8.3. Near field communication
8.4. Optical Character Recognition
8.5. Smart card
8.6. Others

9. Global Automated Fare Collection Market, By Vertical (USD Million)

9.1. Global Automated Fare Collection Market Value Share and Forecast, By Vertical, 2023-2033
9.2. Government
9.3. Media & Entertainment
9.4. Retail
9.5. Transportation and logistics
9.6. Others

10. Global Automated Fare Collection Market, By Component (USD Million)

10.1. Global Automated Fare Collection Market Value Share and Forecast, By Component, 2023-2033
10.2. Hardware
10.3. Software

11. Global Automated Fare Collection Market, By System (USD Million)

11.1. Global Automated Fare Collection Market Value Share and Forecast, By System, 2023-2033
11.2. Fare Gates
11.3. IC Card
11.4. Ticket Office Machine
11.5. Ticket Vending Machine
11.6. 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-Pacific
18.3.1. Australia
18.3.2. China
18.3.3. India
18.3.4. Japan
18.3.5. South Korea
18.3.6. Rest of Asia-Pacific
18.4. Europe
18.4.1. France
18.4.2. Germany
18.4.3. Italy
18.4.4. Spain
18.4.5. United Kingdom
18.4.6. Rest of Europe
18.5. Middle East and Africa
18.5.1. Kingdom of Saudi Arabia
18.5.2. United Arab Emirates
18.5.3. Rest of Middle East & Africa
18.6. North America
18.6.1. Canada
18.6.2. Mexico
18.6.3. United States
18.7. Latin America
18.7.1. Argentina
18.7.2. Brazil
18.7.3. Rest of Latin America

19. Company Profile

19.1. Atos SE
19.1.1. Company details
19.1.2. Financial outlook
19.1.3. Product summary
19.1.4. Recent developments
19.2. Cubic Transportation Systems, Inc.
19.2.1. Company details
19.2.2. Financial outlook
19.2.3. Product summary
19.2.4. Recent developments
19.3. Dormakaba Holding
19.3.1. Company details
19.3.2. Financial outlook
19.3.3. Product summary
19.3.4. Recent developments
19.4. LECIP Group
19.4.1. Company details
19.4.2. Financial outlook
19.4.3. Product summary
19.4.4. Recent developments
19.5. LG CNS
19.5.1. Company details
19.5.2. Financial outlook
19.5.3. Product summary
19.5.4. Recent developments
19.6. NXP semiconductors
19.6.1. Company details
19.6.2. Financial outlook
19.6.3. Product summary
19.6.4. Recent developments
19.7. OMRON Corporation
19.7.1. Company details
19.7.2. Financial outlook
19.7.3. Product summary
19.7.4. Recent developments
19.8. Samsung SDS
19.8.1. Company details
19.8.2. Financial outlook
19.8.3. Product summary
19.8.4. Recent developments
19.9. Scheidt&bacchhan Gmbh
19.9.1. Company details
19.9.2. Financial outlook
19.9.3. Product summary
19.9.4. Recent developments
19.10. Thales Group
19.10.1. Company details
19.10.2. Financial outlook
19.10.3. Product summary
19.10.4. Recent developments
19.11. 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.

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SPER-Methodology-2

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Frequently Asked Questions About This Report

How big is Automated Fare Collection Market?

Automated Fare Collection Market is projected to reach USD XX Billion by 2033, growing at a CAGR of XX% during the forecast period.

What is the growth rate of Automated Fare Collection Market?

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.

What is the anticipated CAGR of Automated Fare Collection Market during the forecast period?

Automated Fare Collection Market CAGR of XX% during the forecast period.

How can I get a sample report on Automated Fare Collection Market?

You can get the sample pages by clicking the link -Click Here

What is the market size of Automated Fare Collection Market?

Automated Fare Collection Market size is USD XX Billion from 2023 to 2033.

Which segment is expected to lead Automated Fare Collection Market?

Automated Fare Collection Market Segment is Covered By Application, By Technology Software, By Component, By Vertical, By System

Which region is expected to have the highest market share in Automated Fare Collection Market?

The North America region is anticipated to have the highest market share in Automated Fare Collection Market.

Who are the key players 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

What is the conclusion of Automated Fare Collection Market?

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.