Press release
World Automated Fare Collection System Market – Opportunities and Forecasts, 2015-2022
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An automated fare collection system has various software enabled features including Oracle, Sybase support, support multitier architecture, and XML web services. Fare collection technology platforms such as Smart cards, NFC and OCR systems ensures full interoperability and independence of service providers. Factors such as increase in demand for smartphones, enhanced efficiency, reduced frauds, flexible fare plans, and enhanced security system strengthen the growth of this market. In addition, the government of India, China, and others are focusing on enriching the transport infrastructure and security system, which further drives the growth of the market. However, high installation and maintenance costs of automated fare collection system hinder the market growth. Opportunities such as increase in high speed of public transport, rise of technology payment, and global interoperability are likely to foster market growth.
The market is segmented on the basis of component, application, technology platform, and geography. On the basis of component, the market is categorized into hardware and software. Application wise, it is segmented into bus, toll, car rental, and train. Besides these, on the basis of technology platform, the market is divided into smart cards, near field communications, optical character recognition, and others (magnetic strips and bar codes). Smart cards generated maximum revenue in 2015 and would continue to dominate the market throughout the forecast period. Geographically, the market is segmented across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in the global automated fare collection system market are Advanced Card Systems Ltd., Atos SE, Cubic Transportation Systems, LG CNS, NXP Semiconductors, Omron Corporation, Samsung SDS, Scheidt & Bachmann, LECIP Group and Thales Group.
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KEY BENEFITS
The report includes an in-depth analysis of the world automated fare collection system market, including current trends, drivers, restraints, and growth opportunities.
Porters Five Forces model illustrates the potency of buyers and sellers, which is likely to help the market players to adopt effective strategies.
Value chain analysis provides a clear understanding of the key intermediaries involved and their respective roles at every stage.
Key market players have been profiled to gain an understanding of the strategies adopted by them.
The current market trends are quantitatively analyzed and estimated for the 20152022 period, which have been provided to highlight the financial competency of the market.
MARKET SEGMENTATION
On the Basis of Component
Hardware
Software
On the Basis of Application
Bus
Toll
Train
Car Rental
On the Basis of Technology Platform
Smart Card
Near Field Communications
Optical Character Recognition
Others (Magnetic Strips and Bar Codes)
On the Basis of Geography
North America
Europe
Asia-Pacific
LAMEA
Key Players
Advanced Card Systems Ltd.
Atos SE
Cubic Transportation Systems
LG CNS
NXP Semiconductors
Omron Corp.
Samsung SDS
Scheidt & Bachmann
Thales Group
LECIP Group
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