Automated Fare Collection (AFC) System Market Size, Share, Growth, Global Trends, Industry Analysis and Forecast to 2027Price: 3200/- USD | Published Date: June 10, 2020 |
The global automated fare collection system market size is expected to grow at a significant CAGR of more than 11% during the forecast period 2020 to 2027. The increasing use of digital payments such as credit cards, debit cards, and near field communication (NFC) payment are some factors to drive the market. These systems are rapidly adopted by various industries such as rail and transportations due to their benefits such as time-saving, better process management, and fraud prevention. The government is rapidly accepting these systems to develop smart transportation infrastructure. However, higher installation and maintenance cost is projected to hinder the market growth over the forecast period.
The market is segmented on the basis of component, technology, application, systems, and geography. By component, the market is classified into hardware and software. The hardware segment dominated the market in 2019 due to the growing number of automated fare collection systems deployment by government across the globe. By technology, the segment is classified into magnetic stripe, smart cards, NFC, and optical character recognition. The smart card segment held the largest share of automated fare collection systems market in 2019 and projected to grow at the same trend over the forecast period due to faster processing and enhanced operating flexibility.
On the basis of application, the market is segmented into railway & transportation, parking, entertainment, and other application. The railway and transportation segment dominated the market in 2019 and accounted for the fastest-growing segment over the forecast period due to the rapidly expanding of highways and railways infrastructure across the globe. The AFC systems are rapidly used for toll collection at various highways which helps the government and transit system operators to reduce vehicle congestion and to improve the traffic flow.
The report provides both, qualitative and quantitative analyses of the market, the competitive landscape, and the preferred development strategies of key players which help to formulate competitive market strategies and make informed decisions. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market, and expert opinion obtained from interviews with industry executives and experts from prominent companies.
According to Research Corridor, this study will provide in-depth analysis of segments on the basis of current trends, market dynamics and country level analysis of automated fare collection (afc) system industry. This report provides market estimates and forecast for the period 2018-2027, along with respective CAGRs for each segment and regional distribution for the period 2020-2027. In depth analysis of competitive landscape, porter's five forces model, value chain analysis, and pricing strategies are also covered in the report scope.
Historical & Forecast Period
- 2018 - Historical Year for automated fare collection (afc) system Market
- 2019 - Base Year for automated fare collection (afc) system Market
- 2020-2027 - Forecast Period for automated fare collection (afc) system Market
The automated fare collection (afc) system market report offers a primary overview of the automated fare collection (afc) system industry covering different product definitions, classifications, and participants in the industry chain structure. The quantitative and qualitative analysis is provided for the global market considering competitive landscape, development trends, and key critical success factors (CSFs) prevailing in the automated fare collection (afc) system industry.
Automated Fare Collection (AFC) System Market Segmentation:
- Smart Cards
- Magnetic Stripe
- Near Field Communication (NFC)
- Optical Character Recognition (OCR)
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- Railways & Transportation
List of Key Companies:
- Advanced Card Systems Ltd.
- Cubic Corporation
- Atos SE
- Indra Sistemas SA
- LECIP Holdings Corporation
- LG CNS
- Masabi Ltd.
- Omron Corporation
Automated Fare Collection (AFC) System Market Report Scope
This report provides an investigative analysis of the automated fare collection (afc) system market encapsulated in detailed sections such as
- Research Methodology
- Research Scope
- Executive Market Summary: Industry Snapshot
- Industry Outlook
- Critical Success Factors (CSFs) for the Market
- Market Dynamics
- Key Opportunities
- Market Porters Five Force Analysis
- Market Value Chain/Ecosystem Analysis
- Market Attractive Investment Proposition
- Market PESTEL Analysis
- Market Positioning of Key Vendors
- Market Segmentation Outlook
- Regional Outlook
- Company Profiles of Key Vendors
Geographically, the automated fare collection (afc) system Market report comprises dedicated sections centering on the regional market revenue and trends. The automated fare collection (afc) system market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific and Rest of the World (RoW). The RoW segment consists Latin America and the Middle East & Africa. The automated fare collection (afc) system market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance and others. automated fare collection (afc) system Market estimates have also been provided for the historical years 2017 & 2018 along with forecast for the period from 2018 - 2027.
- North America automated fare collection (afc) system Market Revenue and Forecast
- Europe automated fare collection (afc) system Market Revenue and Forecast
- Asia Pacific automated fare collection (afc) system Market Revenue and Forecast
- Latin America automated fare collection (afc) system Market Revenue and Forecast
- Middle East and Africa automated fare collection (afc) system Market Revenue and Forecast
Key Questions Answered by Automated Fare Collection (AFC) System Market Report
- Market size and forecast of the automated fare collection (afc) system market for the period from 2018 to 2027
- Compounded annual growth rate (CAGR%) for individual segments in various regional markets through 2025
- Value chain analysis
- Market share analysis combined with competitive landscape of key players
- Profiles of key market players covering overall business operations, geographic presence, product portfolio, financial status and news coverage
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