Global Automated Fare Collection System Market Forecast 2023-2032

The global automated fare collection system market is estimated to progress with a CAGR of 11.63% during the estimated years 2023 to 2032. The market's growth is credited to key drivers, such as the rising number of smartphones and internet services, advancements in transportation infrastructure, lower probability of fraud and counterfeiting, and the advantages of contactless payments.

MARKET INSIGHTS

An automated fare collection system (AFCS), often referred to as the electronic fare collection system, is characterized as an automated system that assists public transit operators in tracking as well as accounting for income. In addition, as a collection of hardware and software tools that enables easy-to-pay fares, AFCS also verifies passenger travel while offering a convenient method of payment instead of cash.

Smartphones are essential for online ticketing, as they make purchasing tickets more convenient and easier via standalone smartphone applications for buses as well as rail travel. It also allows customers to purchase various types of tickets and make cashless payments. Furthermore, mobile connectivity is central to the development of novel and innovative technological solutions for modern problems in the post-pandemic era. Also, as 5G network deployments continue, the ability of the technology to support next-generation offerings, such as cloud services, edge computing, AI, and IoT, is anticipated to propel digital growth and innovation in the global automated fare collection system market.

REGIONAL INSIGHTS

The global automated fare collection system market growth evaluation covers the assessment of the Asia-Pacific, North America, Europe, and Rest of World. The market in the Asia-Pacific is projected to capture the highest revenue share of around 41.20% by the end of the forecast period. The region's market growth is primarily ascribed to the upcoming development initiatives in order to fortify the transportation framework as well as revitalize transportation systems across the Asia-Pacific.

COMPETITIVE INSIGHTS

The global automated fare collection system market is dominated by several well-established players like Samsung, LG, NXP, and Omron. As these players occupy a significant market share compared to other small players, this factor has heightened the overall demand for automated fare collection systems, which is expected to continue over the forecasting years.

Some of the leading companies operating in the global automated fare collection system market are: Cubic Transportation, NXP Semiconductors, Thales Group, etc.

Our report offerings include:

Explore key findings of the overall market
Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
Market Segmentation caters to a thorough assessment of key segments with their market estimations
Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments

Product Code: 31102

1. RESEARCH SCOPE & METHODOLOGY

1.1. STUDY OBJECTIVES
1.2. METHODOLOGY
1.3. ASSUMPTIONS & LIMITATIONS

2. EXECUTIVE SUMMARY

2.1. MARKET SIZE & ESTIMATES
2.2. MARKET OVERVIEW
2.3. SCOPE OF STUDY
2.4. CRISIS SCENARIO ANALYSIS
2.5. MAJOR MARKET FINDINGS
- 2.5.1. CONTACTLESS OPEN PAYMENT
- 2.5.2. EFFICIENT TRANSACTION PROCESS
- 2.5.3. CUSTOMIZED TRAVEL FARE OPTIONS
- 2.5.4. LOW MANPOWER COST

3. MARKET DYNAMICS

3.1. KEY DRIVERS
- 3.1.1. SURGING NUMBER OF SMARTPHONES AND INTERNET SERVICES
- 3.1.2. LESSER PROBABILITY OF FRAUD AND COUNTERFEITING
- 3.1.3. ADVANCEMENTS IN TRANSPORTATION INFRASTRUCTURE
- 3.1.4. ADVANTAGES OF CONTACTLESS PAYMENT SYSTEM
3.2. KEY RESTRAINTS
- 3.2.1. PROJECT FUNDING CHALLENGES AND HIGH INITIAL INVESTMENTS

4. KEY ANALYTICS

4.1. KEY TECHNOLOGY TRENDS
4.2. PORTER'S FIVE FORCES ANALYSIS
- 4.2.1. BUYERS POWER
- 4.2.2. SUPPLIERS POWER
- 4.2.3. SUBSTITUTION
- 4.2.4. NEW ENTRANTS
- 4.2.5. INDUSTRY RIVALRY
4.3. GROWTH PROSPECT MAPPING
4.4. MARKET MATURITY ANALYSIS
4.5. MARKET CONCENTRATION ANALYSIS
4.6. VALUE CHAIN ANALYSIS
- 4.6.1. RESEARCH AND DEVELOPMENT (R&D)
- 4.6.2. RAW MATERIAL & SOFTWARE SOLUTION SUPPLIERS
- 4.6.3. ASSEMBLY UNIT
- 4.6.4. DISTRIBUTION

5. MARKET BY COMPONENT

5.1. HARDWARE
5.2. SOFTWARE
5.3. SERVICES

6. MARKET BY TECHNOLOGY

6.1. SMARTCARDS
6.2. OPTICAL CHARACTER RECOGNITION (OCR)
6.3. NEAR-FIELD COMMUNICATION (NFC)
6.4. OTHER TECHNOLOGIES

7. MARKET BY APPLICATION

7.1. TRANSPORT & LOGISTICS
7.2. PARKING
7.3. MEDIA & ENTERTAINMENT
7.4. OTHER APPLICATIONS

8. GEOGRAPHICAL ANALYSIS

8.1. NORTH AMERICA
- 8.1.1. MARKET SIZE & ESTIMATES
- 8.1.2. NORTH AMERICA AUTOMATED FARE COLLECTION SYSTEM MARKET GROWTH DRIVERS
- 8.1.3. NORTH AMERICA AUTOMATED FARE COLLECTION SYSTEM MARKET CHALLENGES
- 8.1.4. NORTH AMERICA - KEY GOVERNMENT INITIATIVES
- 8.1.5. NORTH AMERICA - KEY PLAYERS
- 8.1.6. COUNTRY ANALYSIS
  - 8.1.6.1. UNITED STATES
  - 8.1.6.1.1. UNITED STATES AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE & OPPORTUNITIES
  - 8.1.6.2. CANADA
  - 8.1.6.2.1. CANADA AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE & OPPORTUNITIES
8.2. EUROPE
- 8.2.1. MARKET SIZE & ESTIMATES
- 8.2.2. EUROPE AUTOMATED FARE COLLECTION SYSTEM MARKET GROWTH DRIVERS
- 8.2.3. EUROPE AUTOMATED FARE COLLECTION SYSTEM MARKET CHALLENGES
- 8.2.4. EUROPE - KEY GOVERNMENT INITIATIVES
- 8.2.5. EUROPE - KEY PLAYERS
- 8.2.6. COUNTRY ANALYSIS
  - 8.2.6.1. UNITED KINGDOM
  - 8.2.6.1.1. UNITED KINGDOM AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE & OPPORTUNITIES
  - 8.2.6.2. GERMANY
  - 8.2.6.2.1. GERMANY AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE & OPPORTUNITIES
  - 8.2.6.3. FRANCE
  - 8.2.6.3.1. FRANCE AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE & OPPORTUNITIES
  - 8.2.6.4. ITALY
  - 8.2.6.4.1. ITALY AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE & OPPORTUNITIES
  - 8.2.6.5. SPAIN
  - 8.2.6.5.1. SPAIN AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE & OPPORTUNITIES
  - 8.2.6.6. POLAND
  - 8.2.6.6.1. POLAND AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE & OPPORTUNITIES
  - 8.2.6.7. REST OF EUROPE
  - 8.2.6.7.1. REST OF EUROPE AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE & OPPORTUNITIES
8.3. ASIA-PACIFIC
- 8.3.1. MARKET ESTIMATES & SIZES
- 8.3.2. ASIA-PACIFIC AUTOMATED FARE COLLECTION SYSTEM MARKET GROWTH DRIVERS
- 8.3.3. ASIA-PACIFIC AUTOMATED FARE COLLECTION SYSTEM MARKET CHALLENGES
- 8.3.4. ASIA-PACIFIC - KEY GOVERNMENT INITIATIVES
- 8.3.5. ASIA-PACIFIC - KEY PLAYERS
- 8.3.6. COUNTRY ANALYSIS
  - 8.3.6.1. CHINA
  - 8.3.6.1.1. CHINA AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE & OPPORTUNITIES
  - 8.3.6.2. JAPAN
  - 8.3.6.2.1. JAPAN AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE & OPPORTUNITIES
  - 8.3.6.3. INDIA
  - 8.3.6.3.1. INDIA AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE & OPPORTUNITIES
  - 8.3.6.4. SOUTH KOREA
  - 8.3.6.4.1. SOUTH KOREA AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE & OPPORTUNITIES
  - 8.3.6.5. INDONESIA
  - 8.3.6.5.1. INDONESIA AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE & OPPORTUNITIES
  - 8.3.6.6. THAILAND
  - 8.3.6.6.1. THAILAND AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE & OPPORTUNITIES
  - 8.3.6.7. VIETNAM
  - 8.3.6.7.1. VIETNAM AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE & OPPORTUNITIES
  - 8.3.6.8. AUSTRALIA & NEW ZEALAND
  - 8.3.6.8.1. AUSTRALIA & NEW ZEALAND AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE & OPPORTUNITIES
  - 8.3.6.9. REST OF ASIA-PACIFIC
  - 8.3.6.9.1. REST OF ASIA-PACIFIC AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE & OPPORTUNITIES
8.4. REST OF WORLD
- 8.4.1. MARKET ESTIMATES & SIZES
- 8.4.2. REST OF WORLD AUTOMATED FARE COLLECTION SYSTEM MARKET GROWTH DRIVERS
- 8.4.3. REST OF WORLD AUTOMATED FARE COLLECTION SYSTEM MARKET CHALLENGES
- 8.4.4. REST OF WORLD - KEY GOVERNMENT INITIATIVES
- 8.4.5. REST OF WORLD - KEY PLAYERS
- 8.4.6. REGIONAL ANALYSIS
  - 8.4.6.1. LATIN AMERICA
  - 8.4.6.1.1. LATIN AMERICA AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE & OPPORTUNITIES
  - 8.4.6.2. MIDDLE EAST & AFRICA
  - 8.4.6.2.1. MIDDLE EAST & AFRICA AUTOMATED FARE COLLECTION SYSTEM MARKET SIZE & OPPORTUNITIES

9. COMPETITIVE LANDSCAPE

9.1. KEY STRATEGIC DEVELOPMENTS
- 9.1.1. ACQUISITIONS
- 9.1.2. PRODUCT LAUNCHES & DEVELOPMENTS
- 9.1.3. PARTNERSHIPS & AGREEMENTS
9.2. COMPANY PROFILES
- 1.1.1. ATOS SE
  - 1.1.1.1. COMPANY OVERVIEW
  - 1.1.1.2. FINANCIAL ANALYSIS
  - 1.1.1.3. PRODUCTS / SERVICES LIST
  - 1.1.1.4. STRENGTHS & CHALLENGES
- 1.1.2. CUBIC TRANSPORTATION SYSTEMS INC
  - 1.1.2.1. COMPANY OVERVIEW
  - 1.1.2.2. FINANCIAL ANALYSIS
  - 1.1.2.3. PRODUCTS / SERVICES LIST
  - 1.1.2.4. STRENGTHS & CHALLENGES
- 1.1.3. DORMAKABA GROUP
  - 1.1.3.1. COMPANY OVERVIEW
  - 1.1.3.2. FINANCIAL ANALYSIS
  - 1.1.3.3. PRODUCTS / SERVICES LIST
  - 1.1.3.4. STRENGTHS & CHALLENGES
- 1.1.4. LECIP HOLDINGS CORPORATION
  - 1.1.4.1. COMPANY OVERVIEW
  - 1.1.4.2. FINANCIAL ANALYSIS
  - 1.1.4.3. PRODUCTS / SERVICES LIST
  - 1.1.4.4. STRENGTHS & CHALLENGES
- 1.1.5. LG CNS
  - 1.1.5.1. COMPANY OVERVIEW
  - 1.1.5.2. FINANCIAL ANALYSIS
  - 1.1.5.3. PRODUCTS / SERVICES LIST
  - 1.1.5.4. STRENGTHS & CHALLENGES
- 1.1.6. NXP SEMICONDUCTORS NV
  - 9.2.1.1. COMPANY OVERVIEW
  - 9.2.1.2. FINANCIAL ANALYSIS
  - 9.2.1.3. PRODUCTS / SERVICES LIST
  - 9.2.1.4. STRENGTHS & CHALLENGES
- 1.1.7. OMRON CORPORATION
  - 1.1.7.1. COMPANY OVERVIEW
  - 1.1.7.2. FINANCIAL ANALYSIS
  - 1.1.7.3. PRODUCTS / SERVICES LIST
  - 1.1.7.4. STRENGTHS & CHALLENGES
- 1.1.8. SAMSUNG SDS
  - 1.1.8.1. COMPANY OVERVIEW
  - 1.1.8.2. FINANCIAL ANALYSIS
  - 1.1.8.3. PRODUCTS / SERVICES LIST
  - 1.1.8.4. STRENGTHS & CHALLENGES
- 1.1.9. SCHEIDT & BACHMANN GMBH
  - 1.1.9.1. COMPANY OVERVIEW
  - 1.1.9.2. FINANCIAL ANALYSIS
  - 1.1.9.3. PRODUCTS / SERVICES LIST
  - 1.1.9.4. STRENGTHS & CHALLENGES
- 1.1.10. THALES GROUP
  - 1.1.10.1. COMPANY OVERVIEW
  - 1.1.10.2. FINANCIAL ANALYSIS
  - 1.1.10.3. PRODUCTS / SERVICES LIST
  - 1.1.10.4. STRENGTHS & CHALLENGES