Automated Fare Collection System Market Size By Component (Software, Hardware), By Technology (Magnetic Strip, Smart Cards, Optical Character Recognition (OCR), Near Field Communication (NFC)), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2016 - 2023

Published Date: July - 2024 | Publisher: MRA | No of Pages: 240 | Industry: Media and IT | Format: Report available in PDF / Excel Format

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Automated Fare Collection System Market Size By Component (Software, Hardware), By Technology (Magnetic Strip, Smart Cards, Optical Character Recognition (OCR), Near Field Communication (NFC)), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2016 - 2023

Automated Fare Collection System Market Size

Automated Fare Collection (AFC) System Market size estimated at USD 4 billion in 2015 and is predicted to register over 10% gains from 2016 to 2023.

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The world is getting smarter, and so is the way we pay for transportation. Governments around the globe are pushing for more sustainable and efficient ways to get around, and one major way they're doing that is through automated fare collection systems. These systems use fancy technology like smartcards and electronic payment systems to make it easier and faster for people to pay for rides. In places like the UK and the Netherlands, governments are making it a priority to get smart card technology into the hands of people who use public transit. And it's not just about cards. Governments are also encouraging the use of smartphones to access travel info and pay for fares. This is where big players like Apple, Google, and Samsung come in. They're making it possible to use your phone to pay for train, bus, and other transportation fees, making it even more convenient to get where you need to go.

Automated Fare Collection System Market Report Attributes
Report Attribute Details
Base Year 2015
Automated Fare Collection System Market Size in 2015 4 Billion (USD)
Forecast Period 2016 to 2023
Forecast Period 2016 to 2023 CAGR 10%
2023 Value Projection 9 Billion (USD)
Historical Data for 2012 to 2015
No. of Pages 115
Tables, Charts & Figures 101
Segments covered Component, Technology, and Region
Growth Drivers
  • Favorable government initiatives
  • Expanding transport infrastructure
  • Growing smartphones demand
Pitfalls & Challenges
  • Need for funding

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Smartphones help to integrate mobile application ticketing, on-board ticketing, and online ticketing into smart ticketing solutions, which allow transport authorities and operators to deliver better services to their clients and reduce fare evasion situations & fund leakage.

Automated Fare Collection System Market Analysis

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The hardware market is expected to hold a market share of above 45% by 2023 due to the rising implementation of automatic fare collectors in public transit networks. The transport sector is witnessing a rise in the usage of hardware electronics, such as bus card processors, bus controller units, and portable ticketing devices, which are required for effective implementation of AFC systems. The massive proliferation of metro rails and bus rapid transit systems has resulted in passenger volumes, generating the need for smart fare collection systems.

The Optical Character Recognition (OCR) segment is estimated to hold an automated fare collection system market share of above 20% by 2023 due to the growing usage of the OCR technique for automatic ticket collection. The OCR software is widely used in various forms such as personal smartphone scanning devices, desktop applications, and server-based solutions that are capable of handling workflow without human interaction. By using OCR technique for automated data processing, the transport companies can minimize their dependency on traditional methods of data entry.  

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In Asia, the demand for Automatic Fare Collection (AFC) systems is soaring. Governments are pumping money into public transportation to ease traffic jams and make it easier for people to get around. For example, in Malaysia's capital, Kuala Lumpur, they rolled out a Bus Rapid Transit (BRT) system in Sunway five years ago to reduce traffic. India is doing the same with its metro system in Delhi, where they've added over 200 new AFC gates to keep things moving smoothly. AFC systems make it easier for people to buy tickets and reduce ticket overbooking during rush hour. With more people using smartphones and embracing digital payments, we can expect the demand for AFC systems to continue to rise. Governments are also pushing for smarter transportation infrastructure, which is only going to fuel the growth of this market.

Automated Fare Collection System Market Share

Companies in the fare collection tech market are teaming up with tech giants to boost their products. For instance, Transdev made their system better in 2015 by using Parkeon's consoles to run certain bus routes in the UK. Similarly, QNX Software revealed in May 2015 that their operating system runs fare collection systems such as ticket machines, gates, and bus gear across nations like the Philippines, Singapore, and Thailand. Players in the market are constantly innovating to stand out and beat the competition.

Some of the major companies operating in the market are

  • Thales Group
  • Omron Corporation
  • Advance Card System
  • Samsung
  • GMV
  • Scheidt & Bachmann
  • Sony Corporation
  • Vix Technology
  • LG Corporation
  • Atos
  • Fare Logistics.

Industry Background

In today's world, public transit agencies are finding it more and more important to have the latest technology for collecting fares. It's not just about taking in payments anymore. These systems also gather data that can help agencies improve their operations. People used to have to buy tickets to ride public transit. Now, there are all sorts of payment options that are safer and easier to use. Technology has made it possible for us to use smart cards that are reliable and have fewer errors. As we move towards a smarter, more connected transportation system, we're going to need even more advanced fare collection systems. These systems will make it easier for agencies to manage passenger flow and make our commutes more efficient.

 

Table of Content

Report Content

Chapter 1 Methodology and Scope

1.1 Research Methodology

1.1.1 Initial data exploration

1.1.2 Statistical modeling and forecast

1.1.3 Definitions & forecast parameters

1.2 Data Sources

Chapter 2 Executive Summary

2.1 AFC system industry 3600synopsis, 2012 - 2023

Chapter 3 AFC System Industry Insights

3.1 Industry segmentation

3.2 Industry size &forecast, 2012 - 2023

3.3 Industry ecosystem analysis

3.3.1 Vendor matrix

3.4 Industry impact forces

3.4.1 Growth drivers

3.4.1.1Favorable government initiatives

3.4.1.2Expanding transport infrastructure

3.4.1.3 Growing smartphones demand

3.4.2 Industry pitfalls & challenges

3.4.2.1Need for funding

3.5 Growth potential analysis

3.6 Porter’s analysis

3.7 Competitive landscape, 2015

3.8 PESTEL analysis

3.9 Technology landscape

3.9.1 AFC architecture overview

3.9.2 Network technology insights

3.9.3 Ticketing technology insights

Chapter 4 AFC System Market, By Component

4.1 AFC system market share by component, 2015 & 2023

4.2 Hardware

4.2.1 Global market estimates by region, 2012 - 2023

4.3 Software

4.3.1 Global market estimates by region, 2012 - 2023

Chapter 5 AFC System Market, By Technology

5.1 AFC system market share by technology, 2015 & 2023

5.2 NFC

5.2.1 Global market estimates by region, 2012 - 2023

5.3 Magnetic strip

5.3.1 Global market estimates by region, 2012 - 2023

5.4 OCR

5.4.1 Global market estimates by region, 2012 - 2023

5.5 Smart cards

5.5.1 Global market estimates by region, 2012 - 2023

Chapter 6 AFC System Market, By Region

6.1 AFC system market volume share by region, 2016 & 2023

6.2 North America

6.2.1 Market estimates and forecast by component, 2012 - 2023

6.2.2 Market estimates and forecast by technology, 2012 - 2023

6.2.3 U.S.

6.2.3.1Market estimates and forecast by component, 2012 - 2023

6.2.3.2 Market estimates and forecast by technology, 2012 - 2023

6.2.4 Canada

6.2.4.1 Market estimates and forecast by component, 2012 - 2023

6.2.4.2Market estimates and forecast by technology, 2012 - 2023

6.3 Europe

6.3.1 Market estimates and forecast by component, 2012 - 2023

6.3.2 Market estimates and forecast by technology, 2012 - 2023

6.3.3 UK

6.3.3.1Market estimates and forecast by component, 2012 - 2023

6.3.3.2Market estimates and forecast by technology, 2012 - 2023

6.3.4 Germany

6.3.4.1 Market estimates and forecast by component, 2012 - 2023

6.3.4.2Market estimates and forecast by technology, 2012 - 2023

6.4 Asia Pacific

6.4.1 Market estimates and forecast by component, 2012 - 2023

6.4.2 Market estimates and forecast by technology, 2012 - 2023

6.4.3 China

6.4.3.1Market estimates and forecast by component, 2012 - 2023

6.4.3.2Market estimates and forecast by technology, 2012 - 2023

6.4.4 India

6.4.4.1Market estimates and forecast by component, 2012 - 2023

6.4.4.2Market estimates and forecast by technology, 2012 - 2023

6.4.5 Japan.

6.4.5.1Market estimates and forecast by component, 2012 - 2023

6.4.5.2Market estimates and forecast by technology, 2012 - 2023

6.5 Latin America

6.5.1 Market estimates and forecast by component, 2012 - 2023

6.5.2 Market estimates and forecast by technology, 2012 - 2023

6.5.3 Brazil

6.5.3.1Market estimates and forecast by component, 2012 - 2023

6.5.3.2Market estimates and forecast by technology, 2012 - 2023

6.5.4 Mexico

6.5.4.1Market estimates and forecast by component, 2012 - 2023

6.5.4.2Market estimates and forecast by technology, 2012 - 2023

6.6 Middle East and Africa (MEA)

6.6.1 Market estimates and forecast by component, 2012 - 2023

6.6.2 Market estimates and forecast by technology, 2012 - 2023

6.6.3 KSA

6.6.3.1Market estimates and forecast by component, 2012 - 2023

6.6.3.2Market estimates and forecast by technology, 2012 - 2023

6.6.4 UAE

6.6.4.1Market estimates and forecast by component, 2012 - 2023

6.6.4.2Market estimates and forecast by technology, 2012 - 2023

Chapter 7 Company Profiles

7.1 Advanced Card Systems

7.1.1 Company Overview

7.1.2 Financial Performance

7.1.3 Product Benchmarking

7.1.4 Strategic Initiatives

7.2 Atos

7.2.1 Company Overview

7.2.2 Financial Performance

7.2.3 Product Benchmarking

7.2.4 Strategic Initiatives

7.3 Cubic Transportation Systems

7.3.1 Company Overview

7.3.2 Financial Performance

7.3.3 Product Benchmarking

7.3.4 Strategic Initiatives

7.4 Fare Logistics

7.4.1 Company Overview

7.4.2 Financial Performance

7.4.3 Product benchmarking

7.4.4 Strategic Initiatives

7.5 GMV

7.5.1 Company Overview

7.5.2 Financial Performance

7.5.3 Product Benchmarking

7.5.4 Strategic Initiatives

7.6 LG Corporation

7.6.1 Company Overview

7.6.2 Financial Performance

7.6.3 Product Benchmarking

7.6.4 Strategic Initiatives

7.7 NXP Semiconductors

7.7.1 Company Overview

7.7.2 Financial Performance

7.7.3 Product Benchmarking

7.7.4 Strategic Initiatives

7.8 Omron Corp

7.8.1 Company Overview

7.8.2 Financial Performance

7.8.3 Product Benchmarking

7.8.4 Strategic Initiatives

7.9 Samsung

7.9.1 Company Overview

7.9.2 Financial Performance

7.9.3 Product Benchmarking

7.9.4 Strategic Initiatives

7.10 Scheidt & Bachmann

7.10.1 Company Overview

7.10.2 Financial Performance

7.10.3 Product Benchmarking

7.10.4 Strategic Initiatives

7.11 Siemens

7.11.1 Company Overview

7.11.2 Financial Performance

7.11.3 Product Benchmarking

7.11.4 Strategic Initiatives

7.12 Sony Corporation

7.12.1 Company Overview

7.12.2 Financial Performance

7.12.3 Product Benchmarking

7.12.4 Strategic Initiatives

7.13 Singapore Technologies Electronics Limited

7.13.1 Company Overview

7.13.2 Financial Performance

7.13.3 Product Benchmarking

7.13.4 Strategic Initiatives

7.14 Thales Group

7.14.1 Company Overview

7.14.2 Financial Performance

7.14.3 Product Benchmarking

7.14.4 Strategic Initiatives

7.15 Trapeze Group

7.15.1 Company Overview

7.15.2 Financial Performance

7.15.3 Product Benchmarking

7.15.4 Strategic Initiatives

7.16 Vix Technology

7.16.1 Company Overview

7.16.2 Financial Performance

7.16.3 Product Benchmarking

7.16.4 Strategic Initiatives
 

  • Thales Group
  • Omron Corporation
  • Advance Card System
  • Samsung
  • GMV
  • Scheidt & Bachmann
  • Sony Corporation
  • Vix Technology
  • LG Corporation
  • Atos
  • Fare Logistics.

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