Automated Fare Collection Market - Global Industry Size, Share, Growth, Trends and Forecast Analysis Upto 2021

Global Automated Fare Collection Market: Snapshot

The recent developments in the transportation systems across developed and developing economies alike are creating a huge demand for automated fare collection. This applies especially to a majority of Europe and Asia Pacific countries, where the development of smart transport systems is helping create a greater application scope for automated fare collection vendors. At the same time, the integration of stable automated fare collection systems can impart significant improvements in the transportation networks that already exist.

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Another driver that automated fare collection companies can look for is the growth of the car rental business across the globe, coupled with the growing demand for e-payment solutions. App-based car rental and public transport is expected to be upcoming key trend in the market.

There are, however, complications in installing automated fare collection systems, such as the high installation cost and integration issues. These problems can be solved through improving technologies and the growth of healthy vendor competition.

These factors are collectively expected to put the automated fare collection at a revenue of US$10.87 bn by the end of 2021. This market is expected to progress at a CAGR of 11.4% from 2015 to 2021 by revenue.

Asia Pacific to Remain Leading Contributor to Automotive Fuel Delivery and Injection Systems Revenue

Geographically, the market for automotive fuel delivery and injection systems can be segmented into Asia Pacific, North America, and Europe, as well as Rest of the World. In 2014, Europe held the leading position in this market with a share of 35.1%. The formation of low emission zones in various nations in the European Union has compelled automobile manufacturers in this region to invest heavily in fuel delivery and injection systems, leading to high market growth.

Analysts at TMR predict the region to remain the leading contributor to the global market in the near future. However, the growth prospect for automotive fuel delivery and injection systems looks most promising in Asia Pacific. The growing concerns over the emission of exhaust gas have compelled governments in several economies in this region, such as China and India, to implement various norms to curb environmental damages, which is expected to fuel the demand for these systems over the next few years in Asia Pacific.

The opportunity for automotive fuel delivery and injection systems in Europe is expected to rise to US$25.1 bn by 2021, whereas Asia Pacific is likely to register a CAGR of 5.0% during the period from 2015 to 2021.

Immense Popularity of Port Fuel Injection Systems Fuels Demand for them

Direct injection, port fuel injection, throttle body injection, and sequential fuel injection are the main types of automotive fuel delivery and injection systems available across the world. The immense popularity of port fuel injection systems, thanks to their superior air and fuel mixture ratio, low cost, and relatively simple design, has kept their demand way ahead of other systems.

With a revenue of US$17.9 bn, the segment emerged as the market leader in 2014. Between 2015 and 2021, it is likely to rise at a CAGR of 4.80% in terms of revenue by 2021, retaining its leadership.

The leading manufacturers of automotive fuel delivery and injection systems are Denso Corp., Delphi Automotive Plc., Robert Bosch GmbH, and Continental AG. Magneti Marelli S.P.A, Ti Automotive Inc., Hitachi Automotive Systems Ltd., Lucas TVS Ltd., Edelbrock LLC, and MSD Ignition are some of the other prominent players in this market.

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