Product Code: 978-1-68038-508-3
Automated Fare Collection Market Growth & Trends:
The global automated fare collection market size is expected to reach USD 28.88 billion by 2030, expanding at a CAGR of 14.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. The automated fare collection industry growth can be attributed to the increasing amount of investments to enhance transport system efficiency worldwide and the use of contactless payment systems. Automated fare collection (AFC) systems enable automated ticketing systems in public transportation, which enhances the operational efficiency of the overall system. These systems offer an integrated platform for the majority of fare-collection activities at various end-use locations such as ticket checking machines, gate machines, and ticket vending machines.
This is expected to create robust opportunities for players in the automated fare collection industry. These systems are primarily used in high transit areas such as public transport ports, large commercial workplaces, and government buildings. The growing traffic activity worldwide continues to force various governments to implement innovative systems for public transportation service management. This is accelerating the adoption of the automated fare collection system in various countries such as the U.K., India, Japan, and China as these governments are consistently investing in transport infrastructure development, supporting the AFC industry growth.
For instance, in January 2019, Aurionpro Solutions implemented the automated fare collection systems for the Noida Metro project in partnership with the State Bank of India, and the Noida Metro Rail Corporation (NMRC). The rising need for easy to use and automated fare-collection systems to maintain high-quality standards for customer service is driving the growth of the automated fare collection industry. The growing construction of mass rapid transportation systems such as metros, light rails, and highways has resulted in higher passenger volumes. The changing business scenario is generating the need for a smart automatic fare collection system.
These automatic fare collection systems not only provide a path toward easier operations but also minimize the risks and costs associated with managing cash, smooth traffic flow, and tracking data and records. These factors are expected to drive the demand in the AFC industry during the forecast period. Due to the growing technological advancement and higher adoption of online payment preferences, people need a variety of options such as cash, card, and e-wallets while in transit. Hence, flexibility remains an attractive feature to customers. Furthermore, AFC solutions provide a safe and reliable payment option that ensures data protection based on industry-standard encryption technology. Hence, these factors are expected to fuel the growth of the automated fare collection industry during the forecast period.
Automated Fare Collection Market Report Highlights:
- The software segment is expected to experience considerable growth with a CAGR of 14.6% over the forecast period. Automatic fare collection software involves advanced technologies, which offer better user experience, fast and more efficient data processing, time-saving, and in-built and error-free payment processing, automation in ticket generation, and error detection capabilities
- The near-field communication (NFC) segment is expected to experience considerable growth with a CAGR of 15.7% over the forecast period. NFC helps establish communication between electronic devices and payment terminals, to share information and data related to payments and other transactions. NFC offers a fast payment solution, can be accessed with personal mobile devices, offers high security, and saves time
- The IC card segment is expected to experience considerable growth with a CAGR of 16.0% over the forecast period. IC Card is a type of rechargeable card, which offers payment options for fares at various end-use facilities such as public transportation stations, vending machines, restaurants, and others by a simple touch or scan
- The entertainment segment is expected to grow with the fastest CAGR of 16.3% from 2023 to 2030. The rapid growth of the entertainment industry requires a fast, automated, and reliable fare collection system to manage a large crowd in venues such as theaters, cricket stadiums, amusement parks, and public fares, among others
- Asia Pacific region is expected to grow with the fastest CAGR of 16.1% from 2023 to 2030 owing to the rising adoption of modern public transportation infrastructure, growing government initiatives, rising public awareness related to cashless transactions, large tourism base are some key factors driving the automated fare collection industry growth in Asia Pacific region
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market Segmentation & Scope
- 1.2 Research Methodology
- 1.3 Research Scope and Assumptions
- 1.3.1 Purchased Database
- 1.3.2 GVR'S Internal Database
- 1.3.3 List of secondary sources
- 1.3.4 Primary Research
- 1.4 List of Data sources
- 1.5 Market Formulation & Publishing
- 1.6 Data Validation & Publishing
Chapter 2 Executive Summary
- 2.1 Automated Fare Collection Market - Industry Snapshot & Key Buying Criteria, 2018 - 2030
- 2.2 Automated Fare Collection Market, 2018 - 2030 (USD Million)
- 2.2.1 Automated Fare Collection Market, By Component, 2018 - 2030 (USD Million)
- 2.2.2 Automated Fare Collection Market, By Technology, 2018 - 2030 (USD Million)
- 2.2.3 Automated Fare Collection Market, By System, 2018 - 2030 (USD Million)
- 2.2.4 Automated Fare Collection Market, By Application, 2018 - 2030 (USD Million)
Chapter 3 Automated Fare Collection Industry Outlook
- 3.1 Market Lineage Outlook
- 3.1.1 Parent Market Outlook
- 3.2 Automated Fare Collection Market Variable Analysis
- 3.2.1 Market Driver Analysis
- 3.2.2 Market Restraint/Challenge Analysis
- 3.3 Value Chain Analysis
- 3.4 Market Analysis Tools
- 3.4.1 Automated Fare Collection Industry Analysis - Porter's
- 3.4.2 Automated Fare Collection Industry Analysis - PEST
- 3.5 Impact of the COVID on Automated Fare Collection Market
Chapter 4 Automated Fare Collection Component Outlook
- 4.1 Automated Fare Collection (AFC) Market by Component, 2022 and 2030
- 4.2 Hardware
- 4.2.1 AFC hardware market, 2018 - 2030 (USD Million)
- 4.3 Software
- 4.3.1 AFC software market, 2018 - 2030 (USD Million)
Chapter 5 Automated Fare Collection Market Technology Outlook
- 5.1 Automated Fare Collection (AFC) Market by Technology, 2022 and 2030
- 5.2 Smart Card
- 5.2.1 AFC smart card market, 2018 - 2030 (USD Million)
- 5.3 Magnetic Stripe
- 5.3.1 AFC magnetic stripe market, 2018 - 2030 (USD Million)
- 5.4 Near-field communication (NFC)
- 5.4.1 AFC near-field communication market, 2018 - 2030 (USD Million)
- 5.5 Optical Character Recognition (OCR)
- 5.5.1 AFC optical character recognition market, 2018 - 2030 (USD Million)
Chapter 6 Automated Fare Collection Market System Outlook
- 6.1 Automated Fare Collection AFC) Market by System, 2022 and 2030
- 6.2 Ticket Vending Machine (TVM)
- 6.2.1 AFC ticket vending market, 2018 - 2030 (USD Million)
- 6.3 Ticket Office Machine (TOM)
- 6.3.1 AFC ticket office machine market, 2018 - 2030 (USD Million)
- 6.4 Fare Gates
- 6.4.1 AFC fare gates collection market, 2018 - 2030 (USD Million)
- 6.5 IC Cards
- 6.5.1 AFC IC cards market, 2018 - 2030 (USD Million)
Chapter 6 Automated Fare Collection Market Application Outlook
- 6.1 Automated Fare Collection AFC) Market by Application, 2022 and 2030
- 6.2 Railways & Transportation
- 6.2.1 Automated Fare collection in Railway & Transportation, 2018 - 2030 (USD Million)
- 6.3 Parking
- 6.3.1 Automated Fare collection in Parking, 2018 - 2030 (USD Million)
- 6.4 Entertainment
- 6.4.1 Automated Fare collection in Entertainment, 2018 - 2030 (USD Million)
- 6.5 Others
- 6.5.1 Automated Fare collection in Other applications, 2018 - 2030 (USD Million)
Chapter 7 Automated Fare Collection Market Regional Outlook
- 7.1 Automated Fare Collection Market Share by Region, 2022 & 2030
- 7.2 North America
- 7.2.1 North America automated fare collection market, 2018 - 2030 (USD Million)
- 7.2.2 North America automated fare collection market, by component, 2018 - 2030 (USD Million)
- 7.2.3 North America automated fare collection market, by technology, 2018 - 2030 (USD Million)
- 7.2.4 North America automated fare collection market, by system, 2018 - 2030 (USD Million)
- 7.2.5 North America automated fare collection market, by application, 2018 - 2030 (USD Million)
- 7.2.6 U.S.
- 7.2.6.1 U.S. automated fare collection market, 2018 - 2030 (USD Million)
- 9.2.6.2 U.S. automated fare collection market, by component, 2018 - 2030 (USD Million)
- 9.2.6.3 U.S. automated fare collection market, by technology, 2018 - 2030 (USD Million)
- 9.2.6.4 U.S. automated fare collection market, by system, 2018 - 2030 (USD Million)
- 9.2.6.5 U.S. automated fare collection market, by application, 2018 - 2030 (USD Million)
- 7.2.7 Canada
- 7.2.7.1 Canada automated fare collection market, 2018 - 2030 (USD Million)
- 7.2.7.2 Canada automated fare collection market, by component, 2018 - 2030 (USD Million)
- 7.2.7.3 Canada automated fare collection market, by technology, 2018 - 2030 (USD Million)
- 7.2.7.4 Canada automated fare collection market, by system, 2018 - 2030 (USD Million)
- 7.2.7.5 Canada automated fare collection market, by application, 2018 - 2030 (USD Million)
- 7.3 Europe
- 7.3.1 Europe automated fare collection market, 2018 - 2030 (USD Million)
- 7.3.2 Europe automated fare collection market, by component, 2018 - 2030 (USD Million)
- 7.3.3 Europe automated fare collection market, by technology, 2018 - 2030 (USD Million)
- 7.3.4 Europe automated fare collection market, by system, 2018 - 2030 (USD Million)
- 7.3.5 Europe automated fare collection market, by application, 2018 - 2030 (USD Million)
- 7.3.6 U.K.
- 7.3.6.1 U.K. automated fare collection market, 2018 - 2030 (USD Million)
- 7.3.6.2 U.K. automated fare collection market, by component, 2018 - 2030 (USD Million)
- 7.3.6.3 U.K. automated fare collection market, by technology, 2018 - 2030 (USD Million)
- 7.3.6.4 U.K. automated fare collection market, by system, 2018 - 2030 (USD Million)
- 7.3.6.5 U.K. automated fare collection market, by application, 2018 - 2030 (USD Million)
- 7.3.7 Germany
- 7.3.7.1 Germany automated fare collection market, 2018 - 2030 (USD Million)
- 7.3.7.2 Germany automated fare collection market, by component, 2018 - 2030 (USD Million)
- 7.3.7.3 Germany automated fare collection market, by technology, 2018 - 2030 (USD Million)
- 7.3.7.4 Germany automated fare collection market, by system, 2018 - 2030 (USD Million)
- 7.3.7.5 Germany automated fare collection market, by application, 2018 - 2030 (USD Million)
- 7.3.8 France
- 7.3.8.1 France automated fare collection market, 2018 - 2030 (USD Million)
- 7.3.8.2 France automated fare collection market, by component, 2018 - 2030 (USD Million)
- 7.3.8.3 France automated fare collection market, by technology, 2018 - 2030 (USD Million)
- 7.3.8.4 France automated fare collection market, by system, 2018 - 2030 (USD Million)
- 7.3.8.5 France automated fare collection market, by application, 2018 - 2030 (USD Million)
- 7.3.9 Italy
- 7.3.9.1 Italy automated fare collection market, 2018 - 2030 (USD Million)
- 7.3.9.2 Italy automated fare collection market, by component, 2018 - 2030 (USD Million)
- 7.3.9.3 Italy automated fare collection market, by technology, 2018 - 2030 (USD Million)
- 7.3.9.4 Italy automated fare collection market, by system, 2018 - 2030 (USD Million)
- 7.3.9.5 Italy automated fare collection market, by application, 2018 - 2030 (USD Million)
- 7.3.10 Spain
- 7.3.10.1 Spain automated fare collection market, 2018 - 2030 (USD Million)
- 7.3.10.2 Spain automated fare collection market, by component, 2018 - 2030 (USD Million)
- 7.3.10.3 Spain automated fare collection market, by technology, 2018 - 2030 (USD Million)
- 7.3.10.4 Spain automated fare collection market, by system, 2018 - 2030 (USD Million)
- 7.3.10.5 Spain automated fare collection market, by application, 2018 - 2030 (USD Million)
- 7.4 Asia Pacific
- 7.4.1 Asia Pacific automated fare collection market, 2018 - 2030 (USD Million)
- 7.4.2 Asia Pacific automated fare collection market, by component, 2018 - 2030 (USD Million)
- 7.4.3 Asia Pacific automated fare collection market, by technology, 2018 - 2030 (USD Million)
- 7.4.4 Asia Pacific automated fare collection market, by system, 2018 - 2030 (USD Million)
- 7.4.5 Asia Pacific automated fare collection market, by application, 2018 - 2030 (USD Million)
- 7.4.6 China
- 7.4.6.1 China automated fare collection market, 2018 - 2030 (USD Million)
- 7.4.6.2 China automated fare collection market, by component, 2018 - 2030 (USD Million)
- 7.4.6.3 China automated fare collection market, by technology, 2018 - 2030 (USD Million)
- 7.4.6.4 China automated fare collection market, by system, 2018 - 2030 (USD Million)
- 7.4.6.5 China automated fare collection market, by application, 2018 - 2030 (USD Million)
- 7.4.7 India
- 7.4.7.1 India automated fare collection market, 2018 - 2030 (USD Million)
- 7.4.7.2 India automated fare collection market, by component, 2018 - 2030 (USD Million)
- 7.4.7.3 India automated fare collection market, by technology, 2018 - 2030 (USD Million)
- 7.4.7.4 India automated fare collection market, by system, 2018 - 2030 (USD Million)
- 7.4.7.5 India automated fare collection market, by application, 2018 - 2030 (USD Million)
- 7.4.8 Japan
- 7.4.8.1 Japan automated fare collection market, 2018 - 2030 (USD Million)
- 7.4.8.2 Japan automated fare collection market, by component, 2018 - 2030 (USD Million)
- 7.4.8.3 Japan automated fare collection market, by technology, 2018 - 2030 (USD Million)
- 7.4.8.4 Japan automated fare collection market, by system, 2018 - 2030 (USD Million)
- 7.4.8.5 Japan automated fare collection market, by application, 2018 - 2030 (USD Million)
- 7.4.9 South Korea
- 7.4.9.1 South Korea automated fare collection market, 2018 - 2030 (USD Million)
- 7.4.9.2 South Korea automated fare collection market, by component, 2018 - 2030 (USD Million)
- 7.4.9.3 South Korea automated fare collection market, by technology, 2018 - 2030 (USD Million)
- 7.4.9.4 South Korea automated fare collection market, by system, 2018 - 2030 (USD Million)
- 7.4.9.5 South Korea automated fare collection market, by application, 2018 - 2030 (USD Million)
- 7.4.10 Australia
- 7.4.10.1 Australia automated fare collection market, 2018 - 2030 (USD Million)
- 7.4.10.2 Australia automated fare collection market, by component, 2018 - 2030 (USD Million)
- 7.4.10.3 Australia automated fare collection market, by technology, 2018 - 2030 (USD Million)
- 7.4.10.4 Australia automated fare collection market, by system, 2018 - 2030 (USD Million)
- 7.4.10.5 Australia automated fare collection market, by application, 2018 - 2030 (USD Million)
- 7.5 Latin America
- 7.5.1 Latin America automated fare collection market, 2018 - 2030 (USD Million)
- 7.5.2 Latin America automated fare collection market, by component, 2018 - 2030 (USD Million)
- 7.5.3 Latin America automated fare collection market, by technology, 2018 - 2030 (USD Million)
- 7.5.4 Latin America automated fare collection market, by system, 2018 - 2030 (USD Million)
- 7.5.5 Latin America automated fare collection market, by application, 2018 - 2030 (USD Million)
- 7.5.6 Brazil
- 7.5.6.1 Brazil automated fare collection market, 2018 - 2030 (USD Million)
- 7.5.6.2 Brazil automated fare collection market, by component, 2018 - 2030 (USD Million)
- 7.5.6.3 Brazil automated fare collection market, by technology, 2018 - 2030 (USD Million)
- 7.5.6.4 Brazil automated fare collection market, by system, 2018 - 2030 (USD Million)
- 7.5.6.5 Brazil automated fare collection market, by application, 2018 - 2030 (USD Million)
- 7.5.7 Mexico
- 7.5.7.1 Mexico automated fare collection market, 2018 - 2030 (USD Million)
- 7.5.7.2 Mexico automated fare collection market, by component, 2018 - 2030 (USD Million)
- 7.5.7.3 Mexico automated fare collection market, by technology, 2018 - 2030 (USD Million)
- 7.5.7.4 Mexico automated fare collection market, by system, 2018 - 2030 (USD Million)
- 7.5.7.5 Mexico automated fare collection market, by application, 2018 - 2030 (USD Million)
- 7.5.8 Argentina
- 7.5.8.1 Argentina automated fare collection market, 2018 - 2030 (USD Million)
- 7.5.8.2 Argentina automated fare collection market, by component, 2018 - 2030 (USD Million)
- 7.5.8.3 Argentina automated fare collection market, by technology, 2018 - 2030 (USD Million)
- 7.5.8.4 Argentina automated fare collection market, by system, 2018 - 2030 (USD Million)
- 7.5.8.5 Argentina automated fare collection market, by application, 2018 - 2030 (USD Million)
- 7.6 MEA
- 7.6.1 MEA automated fare collection market, 2018 - 2030 (USD Million)
- 7.6.2 MEA automated fare collection market, by component, 2018 - 2030 (USD Million)
- 7.6.3 MEA automated fare collection market, by technology, 2018 - 2030 (USD Million)
- 7.6.4 MEA automated fare collection market, by system, 2018 - 2030 (USD Million)
- 7.6.5 MEA automated fare collection market, by application, 2018 - 2030 (USD Million)
- 7.6.6 UAE
- 7.6.6.1 UAE automated fare collection market, 2018 - 2030 (USD Million)
- 7.6.6.2 UAE automated fare collection market, by component, 2018 - 2030 (USD Million)
- 7.6.6.3 UAE automated fare collection market, by technology, 2018 - 2030 (USD Million)
- 7.6.6.4 UAE automated fare collection market, by system, 2018 - 2030 (USD Million)
- 7.6.6.5 UAE automated fare collection market, by application, 2018 - 2030 (USD Million)
- 7.6.7 Saudi Arabia
- 7.6.7.1 Saudi Arabia automated fare collection market, 2018 - 2030 (USD Million)
- 7.6.7.2 Saudi Arabia automated fare collection market, by component, 2018 - 2030 (USD Million)
- 7.6.7.3 Saudi Arabia automated fare collection market, by technology, 2018 - 2030 (USD Million)
- 7.6.7.4 Saudi Arabia automated fare collection market, by system, 2018 - 2030 (USD Million)
- 7.6.7.5 Saudi Arabia automated fare collection market, by application, 2018 - 2030 (USD Million)
- 7.6.8 South Africa
- 7.6.8.1 South Africa automated fare collection market, 2018 - 2030 (USD Million)
- 7.6.8.2 South Africa automated fare collection market, by component, 2018 - 2030 (USD Million)
- 7.6.8.3 South Africa automated fare collection market, by technology, 2018 - 2030 (USD Million)
- 7.6.8.4 South Africa automated fare collection market, by system, 2018 - 2030 (USD Million)
- 7.6.8.5 South Africa automated fare collection market, by application, 2018 - 2030 (USD Million)
Chapter 8 Competitive Analysis
- 8.1 Company Categorization (Mature Players, Emerging Players)
- 8.2 Company Ranking Analysis, 2022
- 8.3 Strategy Mapping
- 8.4 Company Profiles (Overview, Financial Performance, Product Overview, Strategic Initiatives)
- 8.4.1 Advanced Card Systems Ltd.
- 8.4.2 ATOS SE
- 8.4.3 GMV
- 8.4.4 Indra Sistemas SA
- 8.4.5 LECIP Holdings Corporation
- 8.4.6 LG Corporation
- 8.4.7 Siemens AG
- 8.4.8 Thales Group
- 8.4.9 Omron Corporation
- 8.4.10 Masabi Ltd
- 8.4.11 Nippon Signal
- 8.4.12 Scheidt & Bachmann GmbH
- 8.4.13 Samsung SDS Co. Ltd.