GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET FORECAST 2020-2028

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GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET FORECAST 2020-2028

The global automated fare collection system market is predicted to garner $18378 million by 2028, growing at a CAGR of 11.51% during the forecast period. The base year considered for the study is 2019. The estimated period is between 2020 and 2028. The rising use of smartphones is a crucial driving force for the automated fare collection system market. Today, the total number of smartphone users globally have surpassed the three billion mark, and is estimated to grow ahead by several million in the upcoming years.

GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET FORECAST 2020-2028

Global Automated Fare Collection System Market by Component (Hardware (Validators, Turnstiles, Ticket Vending Machines, Other Hardware Components), Software) by Technology (Smart Card, OCR (Optical Character Recognition), NFC (Near Field Communication), Other Technologies) by Application (Bus, Train, Toll, Car) and by Geography.

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The global automated fare collection system market is predicted to garner $18378 million by 2028, growing at a CAGR of 11.51% during the forecast period. The base year considered for the study is 2019. The estimated period is between 2020 and 2028.

The factors augmenting the global automated fare collection market growth are:

  • Rising use of smartphones
  • Less probability of frauds and counterfeiting
  • Customizable & flexible fare plans
  • Advancement of transportation infrastructure
  • Effective and efficient process
  • Advantages of contactless payment system

Global Automated Fare Collection System

The rising use of smartphones is a crucial driving force for the automated fare collection system market. Today, the total number of smartphone users globally have surpassed the three billion mark, and is estimated to grow ahead by several million in the upcoming years. Countries like India, China, and the United States have the highest number of smartphone users. Each of the mentioned countries has over 100 million users. The purchase of travel tickets has become convenient and easy using smartphone applications. It also saves time for the authority as well as travelers. Also, increasing the integration of NFC technology in smartphones will further boost the market.  This also encourages travelers to go cashless.

In 2019, smart card was the largest automated fare collection system technology capturing around 40.89% of the revenue share, whereas the NFC technology is anticipated to be the fastest-growing technology during the forecast period. A smart card is a plastic card which is credit-card sized, and is embedded with a microprocessor. It is portable, can be conveniently stored in a wallet, and does not require a dedicated power supply. The data can be securely stored, which is important, as money is involved.  Many travel smart cards have been launched by different entities in their respective regions. For example, the One Card One Nation initiative launched by the Indian government so as to provide seamless mobility for travel across all modes of public transport.

However, delays in the projects due to funding problems and high initial investments are profoundly restricting the growth of the automated fare collection system market.

The report on the global automated fare collection system market includes segmentation analysis of component, technology, and application.

Market by Component:

  • Hardware
  • Software

Market by Technology:

  • NFC
  • OCR
  • Smart Card
  • Others

Market by Application:

  • Bus
  • Train
  • Toll
  • Car

Geographically, the global automated fare collection system market has been segmented on the basis of four major regions, which includes:

  • North America: the United States and Canada
  • Europe: the United Kingdom, Germany, France, Italy, Russia, Belgium, Poland, and the Rest of Europe
  • Asia Pacific: China, India, Japan, South Korea Australia & New Zealand, Indonesia, Thailand, Vietnam, and the Rest of Asia Pacific
  • Rest of World: Latin America, the Middle East & Africa

In 2019, North America captured the largest market share of 36.17% in terms of revenue. North America is an important market for automated fare collection system. The region accounts for the largest share of the global automated fare collection system market presently. Rising demand from various applications such as bus, train, toll, and car rental would be the key driver for the growth of the automated fare collection system market in North America.

The Asia Pacific region is estimated to record the highest growth for the automated fare collection system market during the projected period. It is mostly due to the high economic growth rates, followed by growing applications and transport infrastructure across the region. The rising monorail and metro services in various cities and virtual ticketing systems will drive the demand for automated fare collection systems in the Asia Pacific region.

Some of the well-established players in the global automated fare collection system market are:

  • LG CNS
  • Atos SE
  • Samsung SDS
  • SCHEIDT & Bachmann GmbH
  • Cubic Transportation Systems Inc
  • OMRON Corporation
  • NXP Semiconductors

Key findings of the global automated fare collection system market are:

  • Hardware is the rapidly growing component in the market.
  • The smart card category is dominant in the technology segment in the market.
  • The automated fare collection system is prominently being applied in train transport.
  1. RESEARCH SCOPE & METHODOLOGY
    • STUDY OBJECTIVES
    • SCOPE OF STUDY
    • METHODOLOGY
    • ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    • MARKET SIZE & ESTIMATES `
    • MARKET OVERVIEW
  3. MARKET DYNAMICS
    • PARENT MARKET ANALYSIS: AUTOMATION MARKET
    • MARKET DEFINITION
    •    KEY DRIVERS
      • RISING USE OF SMARTPHONES
      • LESS PROBABILITY OF FRAUDS AND COUNTERFEITING
      • CUSTOMIZABLE & FLEXIBLE FARE PLANS
      • ADVANCEMENT OF TRANSPORTATION INFRASTRUCTURE
      • EFFECTIVE AND EFFICIENT PROCESS
      • ADVANTAGES OF CONTACTLESS PAYMENT SYSTEM
    •    KEY RESTRAINTS
      • PROJECT DELAY AND FUNDING PROBLEMS
      • HIGH INITIAL INVESTMENT
  1. KEY ANALYTICS
    • KEY INVESTMENT INSIGHTS
    •    PORTER’S FIVE FORCE ANALYSIS
      • BUYER POWER
      • SUPPLIER POWER
      • SUBSTITUTION
      • NEW ENTRANTS
      • INDUSTRY RIVALRY
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
    • VALUE CHAIN ANALYSIS
  2. MARKET BY COMPONENT
    •    HARDWARE
      • VALIDATORS
      • TURNSTILES
      • TICKET VENDING MACHINES
      • OTHER HARDWARE COMPONENTS
    • SOFTWARE
  3. MARKET BY TECHNOLOGY
    • SMART CARD
    • OCR (OPTICAL CHARACTER RECOGNITION)
    • NFC (NEAR FIELD COMMUNICATION)
    • OTHER TECHNOLOGIES
  4. MARKET BY APPLICATION
    • BUS
    • TRAIN
    • TOLL
    • CAR
  5. GEOGRAPHICAL ANALYSIS
    •    NORTH AMERICA
      • UNITED STATES
      • CANADA
    •    EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • ITALY
      • RUSSIA
      • BELGIUM
      • POLAND
      • REST OF EUROPE
    •    ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA & NEW ZEALAND
      • THAILAND
      • INDONESIA
      • VIETNAM
      • REST OF ASIA PACIFIC
    •    REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA
  1. COMPANY PROFILES
    • LG CNS
    • OMRON CORPORATION
    • SAMSUNG SDS
    • SCHEIDT & BACHMANN GMBH
    • CUBIC TRANSPORTATION SYSTEMS INC
    • ATOS SE
    • DORMAKABA HOLDING
    • LECIP HOLDINGS CORPORATION
    • NXP SEMICONDUCTORS
    • THALES GROUP

 LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – AUTOMATED FARE COLLECTION SYSTEM

TABLE 2: GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET, BY COMPONENT, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 3: GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET, BY COMPONENT, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 4: GLOBAL HARDWARE COMPONENT MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 5: GLOBAL HARDWARE COMPONENT MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 6: GLOBAL HARDWARE COMPONENT MARKET, BY TYPE, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 7: GLOBAL HARDWARE COMPONENT MARKET, BY TYPE, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 8: GLOBAL SOFTWARE COMPONENT MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 9: GLOBAL SOFTWARE COMPONENT MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 10: GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET, BY TECHNOLOGY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 11: GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET, BY TECHNOLOGY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 12: GLOBAL SMART CARD MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILL

TABLE 13: GLOBAL SMART CARD MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 14: GLOBAL OCR MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 15: GLOBAL OCR MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 16: GLOBAL NFC MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 17: GLOBAL NFC MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 18: GLOBAL OTHER TECHNOLOGIES MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 19: GLOBAL OTHER TECHNOLOGIES MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 20: GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET, BY APPLICATION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 21: GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET, BY APPLICATION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 22: GLOBAL BUS AUTOMATED FARE COLLECTION MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 23: GLOBAL BUS AUTOMATED FARE COLLECTION MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 24: GLOBAL TRAIN AUTOMATED FARE COLLECTION SYSTEM MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 25: GLOBAL TRAIN AUTOMATED FARE COLLECTION SYSTEM MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 26: GLOBAL TOLL MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 27: GLOBAL TOLL MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 28: GLOBAL CAR MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 29: GLOBAL CAR MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 30: GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 31: GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET, BY GEOGRAPHY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 32: NORTH AMERICA AUTOMATED FARE COLLECTION SYSTEM MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 33: NORTH AMERICA AUTOMATED FARE COLLECTION SYSTEM MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 34: EUROPE AUTOMATED FARE COLLECTION SYSTEM MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 35: EUROPE AUTOMATED FARE COLLECTION SYSTEM MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 36: ASIA PACIFIC AUTOMATED FARE COLLECTION SYSTEM MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 37: ASIA PACIFIC AUTOMATED FARE COLLECTION SYSTEM MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 38: REST OF WORLD AUTOMATED FARE COLLECTION SYSTEM MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 39: REST OF WORLD AUTOMATED FARE COLLECTION SYSTEM MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

LIST OF FIGURES

FIGURE 1: KEY INVESTMENT INSIGHTS

FIGURE 2: PORTER’S FIVE FORCE ANALYSIS

FIGURE 3: OPPORTUNITY MATRIX

FIGURE 4: VENDOR LANDSCAPE

FIGURE 5: GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET, GROWTH POTENTIAL, BY COMPONENT, IN 2019

FIGURE 6: GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET, BY HARDWARE COMPONENT, 2020-2028 (IN $ MILLION)

FIGURE 7: GLOBAL AUTOMATED FARE COLLECTION SYSTEM HARDWARE MARKET, BY VALIDATORS, 2020-2028 (IN $ MILLION)

FIGURE 8: GLOBAL AUTOMATED FARE COLLECTION SYSTEM HARDWARE MARKET, BY TURNSTILES, 2020-2028 (IN $ MILLION)

FIGURE 9: GLOBAL AUTOMATED FARE COLLECTION SYSTEM HARDWARE MARKET, BY TICKET VENDING MACHINES, 2020-2028 (IN $ MILLION)

FIGURE 10: GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET, BY OTHER HARDWARE COMPONENTS, 2020-2028 (IN $ MILLION)

FIGURE 11: GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET, BY SOFTWARE COMPONENT, 2020-2028 (IN $ MILLION)

FIGURE 12: GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET, GROWTH POTENTIAL, BY TECHNOLOGY, IN 2019

FIGURE 13: GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET, BY SMART CARD, 2020-2028 (IN $ MILLION)

FIGURE 14: GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET, BY OCR, 2020-2028 (IN $ MILLION)

FIGURE 15: GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET, BY NFC, 2020-2028 (IN $ MILLION)

FIGURE 16: GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET, BY OTHER TECHNOLOGIES, 2020-2028 (IN $ MILLION)

FIGURE 17: GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2019

FIGURE 18: GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET, BY BUS, 2020-2028 (IN $ MILLION)

FIGURE 19: GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET, BY TRAIN, 2020-2028 (IN $ MILLION)

FIGURE 20: GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET, BY TOLL, 2020-2028 (IN $ MILLION)

FIGURE 21: GLOBAL AUTOMATED FARE COLLECTION SYSTEM MARKET, BY CAR, 2020-2028 (IN $ MILLION)

FIGURE 22: NORTH AMERICA AUTOMATED FARE COLLECTION SYSTEM MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 23: UNITED STATES AUTOMATED FARE COLLECTION SYSTEM MARKET, 2020-2028 (IN $ MILLION)

FIGURE 24: CANADA AUTOMATED FARE COLLECTION SYSTEM MARKET, 2020-2028 (IN $ MILLION)

FIGURE 25: EUROPE AUTOMATED FARE COLLECTION SYSTEM MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 26: UNITED KINGDOM AUTOMATED FARE COLLECTION SYSTEM MARKET, 2020-2028 (IN $ MILLION)

FIGURE 27: GERMANY AUTOMATED FARE COLLECTION SYSTEM MARKET, 2020-2028 (IN $ MILLION)

FIGURE 28: FRANCE AUTOMATED FARE COLLECTION SYSTEM MARKET, 2020-2028 (IN $ MILLION)

FIGURE 29: ITALY AUTOMATED FARE COLLECTION SYSTEM MARKET, 2020-2028 (IN $ MILLION)

FIGURE 30: RUSSIA AUTOMATED FARE COLLECTION SYSTEM MARKET, 2020-2028 (IN $ MILLION)

FIGURE 31: BELGIUM AUTOMATED FARE COLLECTION SYSTEM MARKET, 2020-2028 (IN $ MILLION)

FIGURE 32: POLAND AUTOMATED FARE COLLECTION SYSTEM MARKET, 2020-2028 (IN $ MILLION)

FIGURE 33: REST OF EUROPE AUTOMATED FARE COLLECTION SYSTEM MARKET, 2020-2028 (IN $ MILLION)

FIGURE 34: ASIA PACIFIC AUTOMATED FARE COLLECTION SYSTEM MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 35: CHINA AUTOMATED FARE COLLECTION SYSTEM MARKET, 2020-2028 (IN $ MILLION)

FIGURE 36: JAPAN AUTOMATED FARE COLLECTION SYSTEM MARKET, 2020-2028 (IN $ MILLION)

FIGURE 37: INDIA AUTOMATED FARE COLLECTION SYSTEM MARKET, 2020-2028 (IN $ MILLION)

FIGURE 38: SOUTH KOREA AUTOMATED FARE COLLECTION SYSTEM MARKET, 2020-2028 (IN $ MILLION)

FIGURE 39: AUSTRALIA & NEW ZEALAND AUTOMATED FARE COLLECTION SYSTEM MARKET, 2020-2028 (IN $ MILLION)

FIGURE 40: THAILAND AUTOMATED FARE COLLECTION SYSTEM MARKET, 2020-2028 (IN $ MILLION)

FIGURE 41: INDONESIA AUTOMATED FARE COLLECTION SYSTEM MARKET, 2020-2028 (IN $ MILLI

FIGURE 42: VIETNAM AUTOMATED FARE COLLECTION SYSTEM MARKET, 2020-2028 (IN $ MILLION)

FIGURE 43: REST OF ASIA PACIFIC AUTOMATED FARE COLLECTION SYSTEM MARKET, 2020-2028 (IN $ MILLION)

FIGURE 44: REST OF WORLD AUTOMATED FARE COLLECTION SYSTEM MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 45: LATIN AMERICA AUTOMATED FARE COLLECTION SYSTEM MARKET, 2020-2028 (IN $ MILLION)

FIGURE 46: MIDDLE EAST & AFRICA AUTOMATED FARE COLLECTION SYSTEM MARKET, 2020-2028 (IN $ MILLION)

  1. MARKET BY COMPONENT
    •    HARDWARE
      • VALIDATORS
      • TURNSTILES
      • TICKET VENDING MACHINES
      • OTHER HARDWARE COMPONENTS
    • SOFTWARE
  2. MARKET BY TECHNOLOGY
    • SMART CARD
    • OCR (OPTICAL CHARACTER RECOGNITION)
    • NFC (NEAR FIELD COMMUNICATION)
    • OTHER TECHNOLOGIES
  3. MARKET BY APPLICATION
    • BUS
    • TRAIN
    • TOLL
    • CAR
  4. GEOGRAPHICAL ANALYSIS
    •    NORTH AMERICA
      • UNITED STATES
      • CANADA
    •    EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • ITALY
      • RUSSIA
      • BELGIUM
      • POLAND
      • REST OF EUROPE
    •    ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA & NEW ZEALAND
      • THAILAND
      • INDONESIA
      • VIETNAM
      • REST OF ASIA PACIFIC
    •    REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA

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