Automated Fare Collection Market: Booming Growth at a 14.2% CAGR to Reach USD 45.85 Billion by 2030

𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐅𝐚𝐫𝐞 𝐂𝐨𝐥𝐥𝐞𝐜𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐭 𝐭𝐨 𝐑𝐞𝐚𝐜𝐡 𝐔𝐒𝐃 𝟐𝟒.𝟗𝟏 𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟎, 𝐃𝐫𝐢𝐯𝐞𝐧 𝐛𝐲 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭𝐬 𝐚𝐧𝐝 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞𝐝 𝐀𝐝𝐨𝐩𝐭𝐢𝐨𝐧

The global automated fare collection (AFC) market is poised for significant growth, with a projected CAGR of XX% from 2024 to 2030. Valued at USD XX billion in 2023, the market is expected to reach USD 24.91 billion by the end of the forecast period. This surge is fueled by the increasing adoption of digital payment solutions and technological advancements in public transportation systems.

𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐅𝐚𝐫𝐞 𝐂𝐨𝐥𝐥𝐞𝐜𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐕𝐢𝐞𝐭𝐧𝐚𝐦: 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐭𝐡𝐞

Vietnam is witnessing robust growth in the adoption of AFC systems, driven by the government's push for smart urban transportation. Key developments include partnerships between Viettel Group and global technology providers to enhance payment gateways for public transit. Investments in metro and high-speed rail projects further highlight the country's commitment to modernizing its transportation infrastructure.

𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐅𝐚𝐫𝐞 𝐂𝐨𝐥𝐥𝐞𝐜𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐂𝐡𝐢𝐧𝐚: 𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐭𝐡𝐞

China dominates the AFC market in Asia, leveraging its extensive public transportation network and advanced digital payment systems. Major players such as Alibaba Group and Tencent are driving innovation with integrated payment solutions. Recent mergers, including UnionPay's collaboration with local transit authorities, underscore the consolidation trend within the industry.

𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐅𝐚𝐫𝐞 𝐂𝐨𝐥𝐥𝐞𝐜𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐡𝐚𝐢𝐥𝐚𝐧𝐝: 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐭𝐡𝐞

Thailand's AFC market is expanding rapidly, supported by the government's "Thailand 4.0" initiative. Projects such as the Bangkok Metro expansion are incorporating cutting-edge fare collection technologies. Partnerships with companies like Samsung SDS are enabling the deployment of seamless payment systems, enhancing commuter convenience.

𝐋𝐨𝐨𝐤𝐢𝐧𝐠 𝐟𝐨𝐫 𝐦𝐨𝐫𝐞 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧? 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐨𝐫 𝐢𝐧𝐪𝐮𝐢𝐫𝐞 𝐧𝐨𝐰 : https://www.maximizemarketresearch.com/request-sample/35458/

𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐅𝐚𝐫𝐞 𝐂𝐨𝐥𝐥𝐞𝐜𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐉𝐚𝐩𝐚𝐧: 𝐂𝐨𝐧𝐬𝐨𝐥𝐢𝐝𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐭𝐡𝐞

Japan continues to lead with advanced AFC solutions, integrating biometric payment technologies into its transportation systems. Companies such as Sony Corporation and Hitachi are spearheading innovations. Recent acquisitions, including Hitachi's strategic partnerships with European AFC providers, have strengthened the country's market position.

𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐅𝐚𝐫𝐞 𝐂𝐨𝐥𝐥𝐞𝐜𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐨𝐮𝐭𝐡 𝐊𝐨𝐫𝐞𝐚: 𝐔𝐩𝐝𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐭𝐡𝐞

South Korea is embracing NFC-enabled and contactless fare payment technologies, with firms like LG CNS and Kakao Mobility driving this transition. The government's investment in smart city initiatives has further boosted the adoption of AFC systems, positioning the country as a regional leader in technological advancements.

𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐅𝐚𝐫𝐞 𝐂𝐨𝐥𝐥𝐞𝐜𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞: 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐭𝐡𝐞

Singapore's AFC market is characterized by its pioneering use of contactless card systems and mobile payments. The collaboration between EZ-Link and global payment giants like Visa has set benchmarks for efficiency and user convenience. The country's focus on green transportation solutions is also driving innovation in the AFC sector.

𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐅𝐚𝐫𝐞 𝐂𝐨𝐥𝐥𝐞𝐜𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬: 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐭𝐡𝐞

The United States is experiencing significant growth in AFC systems, led by investments in modernizing transit infrastructure. Key players, including Cubic Transportation Systems, are deploying AI-driven fare management solutions. Recent mergers, such as Cubic's acquisition of Delerrok, highlight the market's consolidation trend.

𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐅𝐚𝐫𝐞 𝐂𝐨𝐥𝐥𝐞𝐜𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐄𝐮𝐫𝐨𝐩𝐞: 𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐭𝐡𝐞

Europe's AFC market is characterized by advancements in open-loop payment systems and integration with digital wallets. Companies like Thales Group and Siemens are leading the way with innovative solutions. Notable developments include Thales' acquisition of smaller regional players to strengthen its portfolio in automated fare solutions.

𝐋𝐨𝐨𝐤𝐢𝐧𝐠 𝐟𝐨𝐫 𝐦𝐨𝐫𝐞 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧? 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐨𝐫 𝐢𝐧𝐪𝐮𝐢𝐫𝐞 𝐧𝐨𝐰 :https://www.maximizemarketresearch.com/request-sample/35458/

𝐃𝐢𝐬𝐜𝐨𝐯𝐞𝐫 𝐤𝐞𝐲 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐝𝐫𝐢𝐯𝐢𝐧𝐠 𝐭𝐡𝐞 𝐠𝐫𝐨𝐰𝐭𝐡 𝐨𝐟 𝐭𝐡𝐞 𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐅𝐚𝐫𝐞 𝐂𝐨𝐥𝐥𝐞𝐜𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 :

𝐛𝐲 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲

Smart Cards
Near Field Communication (NFC)
Magnetic Stripe

The market has been split into three segments based on technology: Near Field Communication (NFC), Smart Cards, and Magnetic Stripe. The Smart Cards subsegment is anticipated to produce the most income out of all of these. Revenue from the Smart Cards subsegment peaked in 2023. As the Automated Fare Collection (AFC) Market's revenue leader in 2023, the Smart Cards subsegment is essential to the global transformation of public transit systems. Secure chips included in contactless payment mechanisms, such as smart cards, enable smooth fare transactions. Commuters can easily access a variety of transit options, including buses, trains, and subways, by using these cards as digital wallets. Smart cards are essential to AFC because they can expedite fare collection, improve customer convenience, and

𝐛𝐲 𝐂𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭

Hardware
Software

𝐛𝐲 𝐒𝐲𝐬𝐭𝐞𝐦

Ticket Vending Machine (TVM)
Ticket Office Machine (TOM)
Fare Gates
IC Cards

𝐛𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧

Railways & Transportation

Parking
Entertainment
Others (Government, Retail)

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐝𝐚𝐭𝐚 𝐚𝐧𝐝 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐛𝐲 𝐯𝐢𝐞𝐰𝐢𝐧𝐠 𝐭𝐡𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 : @https://www.maximizemarketresearch.com/market-report/global-automated-fare-collection-market/35458/

𝐋𝐞𝐚𝐫𝐧 𝐚𝐛𝐨𝐮𝐭 𝐭𝐡𝐞 𝐭𝐨𝐩 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐝𝐫𝐢𝐯𝐢𝐧𝐠 𝐢𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐭𝐡𝐞 𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐅𝐚𝐫𝐞 𝐂𝐨𝐥𝐥𝐞𝐜𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 :

North America
1. Cubic Corporation(United States)
2. Visa Inc. (United States)
3. CPI Card Group Inc. (United States)
4. TransCore (United States)
Europe
5. Thales Group (France)
6. NXP Semiconductors (Netherlands)
7. Samsung SDS (South Korea)
8. LG CNS Co., Ltd. (South Korea)
9. Scheidt & Bachmann GmbH (Germany)
10. Siemens AG (Germany)
11. STMicroelectronics (Switzerland)
12. Atos SE (France)
13. Indra Sistemas S.A. (Spain)
14. GMV Innovating Solutions (Spain)

Asia Pacific
15. Huawei Technologies Co., Ltd. (China)
16. Nippon Signal Co., Ltd. (Japan)
17. Vix Technology (Australia)
18. SC Soft (Hong Kong)

𝐆𝐞𝐭 𝐚𝐧𝐬𝐰𝐞𝐫𝐬 𝐭𝐨 𝐜𝐫𝐢𝐭𝐢𝐜𝐚𝐥 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐬𝐡𝐚𝐩𝐢𝐧𝐠 𝐭𝐡𝐞 𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐅𝐚𝐫𝐞 𝐂𝐨𝐥𝐥𝐞𝐜𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 :

What is Automated Fare Collection ?
What is the growth rate of the Automated Fare Collection Market?
Which are the factors expected to drive the Automated Fare Collection market growth?
What is the CAGR at which the Automated Fare Collection market will grow during the forecast period?
What are the different segments of the Automated Fare Collection Market?
Which is the fastest growing region in the Automated Fare Collection market?
What growth strategies are the players considering to increase their presence in Automated Fare Collection ?
What are the upcoming opportunities and trends for the Automated Fare Collection Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Automated Fare Collection Market?
Who are the leading companies and what are their portfolios in Automated Fare Collection Market?
What segments are covered in the Automated Fare Collection Market?
Who are the key players in the Automated Fare Collection market?

𝐆𝐚𝐢𝐧 𝐚𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐯𝐚𝐥𝐮𝐚𝐛𝐥𝐞 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝐭𝐡𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐥𝐢𝐧𝐤 @https://www.maximizemarketresearch.com/request-sample/35458/

𝐆𝐞𝐭 𝐚 𝐜𝐥𝐨𝐬𝐞𝐫 𝐥𝐨𝐨𝐤 𝐚𝐭 𝐭𝐡𝐞 𝐠𝐚𝐦𝐞-𝐜𝐡𝐚𝐧𝐠𝐢𝐧𝐠 𝐩𝐫𝐨𝐝𝐮𝐜𝐭𝐬 𝐝𝐫𝐢𝐯𝐢𝐧𝐠 𝐬𝐮𝐜𝐜𝐞𝐬𝐬.

Past Size and Competitive Landscape
• Past Pricing and price curve by region
• Size, Share, Size Forecast by different segment
• Dynamics Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Segmentation A detailed analysis by segment with their sub-segments and Region
• Competitive Landscape Profiles of selected key players by region from a strategic perspective

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐨𝐮𝐫 𝐭𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐭𝐨 𝐮𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐬𝐡𝐢𝐟𝐭𝐬 :

♦ global Chatbots Market https://www.maximizemarketresearch.com/market-report/global-chatbots-market-key-trends/7204/

♦ global Dietary Supplements Market https://www.maximizemarketresearch.com/market-report/global-dietary-supplements-market/26277/

♦ Infant Formula Market https://www.maximizemarketresearch.com/market-report/infant-formula-market/124801/

♦ Industrial Hemp Market https://www.maximizemarketresearch.com/market-report/global-industrial-hemp-market/33440/

♦ Global Gaming Market https://www.maximizemarketresearch.com/market-report/global-gaming-market/44697/

♦ US Artificial Intelligence (AI) Market https://www.maximizemarketresearch.com/market-report/us-artificial-intelligence-ai-market/11352/

♦ Microcrystalline Cellulose Market https://www.maximizemarketresearch.com/market-report/microcrystalline-cellulose-market/13475/

♦ Global Agricultural Micronutrients Market https://www.maximizemarketresearch.com/market-report/global-agricultural-micronutrients-market/50434/

♦ Global Automatic Train Control Market https://www.maximizemarketresearch.com/market-report/global-automatic-train-control-market/29767/

♦ Geospatial Solutions Market https://www.maximizemarketresearch.com/market-report/global-geospatial-solutions-market/61529/

𝐑𝐞𝐚𝐜𝐡 𝐎𝐮𝐭 𝐭𝐨 𝐌𝐚𝐱𝐢𝐦𝐢𝐳𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐟𝐨𝐫 𝐈𝐧-𝐃𝐞𝐩𝐭𝐡 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐚𝐧𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 :

MAXIMIZE MARKET RESEARCH PVT. LTD.
3rd Floor, Navale IT park Phase 2,
Pune Banglore Highway, Narhe
Pune, Maharashtra 411041, India.
sales@maximizemarketresearch.com
www.maximizemarketresearch.com

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.

This release was published on openPR.