Automatic Fare Collection System Market Opportunity Assessment 2021-2027 Growing with Major Key Player

Automatic Fare Collection System Market

Population explosion and the burgeoning number of commuters are driving the global transportation sector. This scenario has paved the way for a trailblazing automated technology that streamlines the fare collection process. Automated Fare Collection (AFC) systems are used in several urban public transport systems, which are shifting from paper tickets printed via a small machine with a keypad to digital tickets (smart cards). Although paper tickets and passes still occupy a significant share in urban and rural rail transit systems and commuter rail, over the past few years, these ticketing methods have moved to magnetic stripe cards and contactless smart cards – inexpensive technologies that render additional data collection options and security. Additionally, with the concept of smart cities growing around the globe, the proclivity toward AFC systems is evident. Cities are integrating advanced technologies into municipal operations, starting from transportation to infrastructure repair.

The Major Players Covered in this Report:
Advanced Card Systems Ltd., Cubic Transportation Systems, Atos SE, LG CNS, NXP Semiconductors, Samsung SDS, Omron Corp., Scheidt & Bachmann, Thales Group, and LECIP Group. 

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By Component, Hardware, Ticket Vending Machine, Fare Gates, Others (Ticket Office Machine, Station Infrastructure), Software

By Application, Retail (Parking) , Transportation and Logistics, Subway Station, Train station/Metro railways, Airports, Media and Entertainment , Government , Others

By Technology, Near-Field Communication , Magnetic Strips & Tokens , QR Code/Barcode , Smart Cards

Segmentation Insights

The automatic fare collection system market is segmented by component, application, and technology. The hardware segment includes ticket vending machines and fare gates, among others. Ticket vending machines and fare gates play a crucial role in the retailing of tickets and are complex systems interconnected with other systems and back-office software. Fare gates have potential growth prospects across the Middle-East as the region focuses on technological developments in the transport sector. For instance, in 2018, the Road Transport Authority of Dubai (United Arab Emirates) announced the opening of 13 extra fare gates, where commuters can pay via Apple Pay, Samsung Pay, or NoI cards at all Dubai metro ticket windows.

Regional Analysis For Automatic Fare Collection System Market:

North America (United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

In this study, the years considered to estimate the market size of the Automatic Fare Collection System are as follows:

History Year: 2014-2019
Base Year: 2019
Estimated Year: 2020
Forecast Year 2021 to 2026

The study objectives of this report are:

To study and forecast the market size of the Automatic Fare Collection System in the global market.
To analyze the global key players, SWOT analysis, value, and global market share for top players.
To define, describe and forecast the market by type, end-use, and region.
To analyze and compare the market status and forecast among global major regions.
 Analyze the potential of the global market and the advantages, opportunities and challenges, constraints, and risks of key regions.
Identify the key trends and factors that are driving or holding back market growth.
To analyze the opportunities in the market for stakeholders by identifying the high-growth segments.
Strategic analysis of each submarket in light of individual growth trends and market contributions.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
Complete analysis of the strategic strategy and growth of key players

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