PUBLISHER: QYResearch | PRODUCT CODE: 1873452
PUBLISHER: QYResearch | PRODUCT CODE: 1873452
The global market for Automatic Fare Collection (AFC) Station Equipment was estimated to be worth US$ 5973 million in 2024 and is forecast to a readjusted size of US$ 9597 million by 2031 with a CAGR of 7.1% during the forecast period 2025-2031.
Automatic Fare Collection (AFC) Station Equipment is a contactless smartcard-based end-to-end solution for fare collection and payment. AFC machine is the equipment used in the automatic fare collection system. The elements of AFC system are:Ticket vending machines (TVMs), where passengers can buy a ticket for their journey; Ticket office machines (TOMs), used by railway staff to issue tickets at stations; Fare gates, which form a barrier between the "unpaid" area of the station and the "paid" area where passengers must possess a valid ticket. The fare gate will read and release the gate when a valid ticket is presented.
Global key players of automatic fare collection (AFC) station equipment include Cubic Corporation, Thales Group, Omron Corporation, The Nippon Signal, Scheidt & Bachmann, etc. The top five players hold a share over 37%. Asia-Pacific is the largest market, has a share about 44%, followed by Europe, and North America, with share 27% and 21%, separately.
1. Rapid Urbanization and Rising Passenger Numbers
Urban centers are growing rapidly, with millions of people relying daily on metro, rail, bus, and other public transport networks. To manage increasing footfall efficiently, operators need robust machines that automate ticketing, top-ups, and access control. AFC Machines help reduce congestion at ticket counters and station gates, streamlining passenger flow.
2. Government Investments in Smart City and Smart Transport Projects
Many governments have launched smart city programs aimed at modernizing urban mobility. Automated fare collection is a core part of these programs, with AFC Machines playing a crucial role. Funding and policy support for digital ticketing, real-time passenger information, and integrated mobility solutions are driving demand for advanced machines.
3. Growing Adoption of Cashless and Contactless Payment Technologies
Passengers increasingly prefer tap-and-go payments using smart cards, mobile wallets, or contactless bank cards. AFC Machines have evolved to support these trends - modern ticket vending machines, gates, and validators can process mobile QR codes, NFC payments, and open-loop transactions. The shift away from cash reduces handling costs and supports hygiene.
4. Demand for Improved Revenue Protection and Fraud Reduction
Revenue leakage due to fare evasion and manual ticketing errors remains a significant issue for many transport operators. AFC Machines ensure proper fare validation, keep detailed electronic records, and minimize human error. Automatic gates prevent unpaid entry and exit, acting as a physical barrier against fare dodging.
This report aims to provide a comprehensive presentation of the global market for Automatic Fare Collection (AFC) Station Equipment, focusing on the total sales revenue, key companies market share and ranking, together with an analysis of Automatic Fare Collection (AFC) Station Equipment by region & country, by Type, and by Application.
The Automatic Fare Collection (AFC) Station Equipment market size, estimations, and forecasts are provided in terms of sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Automatic Fare Collection (AFC) Station Equipment.
Market Segmentation
By Company
Segment by Type
Segment by Application
By Region
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size. This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Automatic Fare Collection (AFC) Station Equipment company competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Revenue of Automatic Fare Collection (AFC) Station Equipment in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Revenue of Automatic Fare Collection (AFC) Station Equipment in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.