PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1349964
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1349964
Automated Fare Collection System Market, By System Component, By Application, By End Use, By Geography (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030
Global Automated Fare Collection System market is estimated to be valued at US$ 27.94 Bn by 2030.
| Report Coverage | Report Details | ||
|---|---|---|---|
| Base Year: | 2022 | Market Size in 2023: | US$ 10.81 Bn |
| Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
| Forecast Period 2023 to 2030 CAGR: | 12.60% | 2030 Value Projection: | US$ 27.94 Bn |
The global automated fare collection (AFC) system market refers to the market for technology solutions and systems used to automate the process of fare collection and ticketing in public transportation networks. AFC systems are designed to streamline the payment process, improve operational efficiency, and enhance the passenger experience in various modes of transportation, including buses, trains, trams, and metros.
Global automated fare collection system market is segmented based on system component, application, End-use Industry, type, and region. Based on the System Component, the market is further segmented into Hardware. On the basis of application, the global automated fare collection market is segmented into Bus Rapid Transit, Light Rail Transit, Train, and Others. On the basis of End-use Industry, the market is segmented into Public Transport Authority and Private Transport Authority.
Market Dynamics:
The growth of the global automated fare collection system market during the forecast period is driven by factors such as the increasing population and the widespread adoption of the Internet of Things (IoT) in everyday life. The growing population puts pressure on public transportation systems, making it increasingly challenging to handle ticket distribution, checking, and related activities solely through human operators. The adoption of automated fare collection systems (AFC) can alleviate a significant workload by automating these processes.
Furthermore, the integration of IoT into daily life simplifies the adoption of public transport-related apps. Instead of purchasing physical tickets, consumers prefer to use apps or scan Quick Response (QR) codes to buy tickets, as reported by a study from Coherent Market Insights. The use of mobile apps and other IoT technologies accelerates the adoption of the global automated fare collection system market.
The Automated Fare Collection System manufacturers are constantly adopting advanced technologies such as 5G, and Wi-Fi 6, to provide high-quality products to the consumers.
Key features of the study:
- This report provides in-depth analysis of the global automated fare collection system market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2023-2030), considering 2022 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global automated fare collection system market based on the following parameters- company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include TSC Auto ID Technology Co., Ltd., Toshiba TEC Corporation, Honeywell International Inc., Bixolon Co., Ltd., Citizen Holdings Co., Ltd., Star Micronics Co., Ltd., Seiko Epson Corporation, SATO Holdings Corporation, Brother International Corporation
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- Global Automated Fare Collection System market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global automated fare collection system market
Detailed Segmentation:
- Global Automated Fare Collection System Market, By System Component:
- Direct Hardware
- Software
- Services
- Global Automated Fare Collection System Market, By Application:
- Bus Rapid transit
- Light Rail Transit
- Train
- Others
- Global Automated Fare Collection System Market, By End-use Industry:
- Public Transport Authority
- Private Transport Authority
- Global Automated Fare Collection System Market, By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Company Profiles:
- Cubic Corporation
- TSC Auto ID Technology Co., Ltd
- TEC Corporation
- Bixolon Co., Ltd
- Citizen Holdings Co., Ltd.
- Star Micronics Co., Ltd
- Seiko Epson Corporation
- SATO Holdings Corporation
- Brother International Corporation
- Others
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By System Component
- Market Snippet, By Application
- Market Snippet, By End Use
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- The enhanced user experience provided by AFC systems is projected to fuel the growth of the global automated fare collection system market in the forecast period.
- Transportation authorities' proactive measures to encourage technology adoption are expected to drive the global automated fare collection system market growth.
- Restraints
- Challenges Ahead: High Installation Costs Impede Growth of global automated fare collection system market.
- Component integration issues may hinder the growth of the global automated fare collection system market.
- Opportunities
- Investments in transportation infrastructure and emerging economy projects create lucrative business opportunities.
- The upgrading of existing transit projects is predicted to offer attractive business opportunities for key industry players.
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product Launches/Approvals
- PEST Analysis
- PORTER's Analysis
- Merger and Acquisition Scenario
4. Global Automated Fare Collection System Market- Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
5. Global Automated Fare Collection System Market, By System Component, 2018-2030, (US$ Bn)
- Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2018-2030
- Segment Trends
- Direct Hardware
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Bn)
- Software
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Bn)
- Services
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Bn)
6. Global Automated Fare Collection System Market, By Application, 2018-2030, (US$ Bn)
- Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2018-2030
- Segment Trends
- Bus Rapid Transit
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Bn)
- Light Rail Transit
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Bn)
- Train
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Bn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Bn)
7. Global Automated Fare Collection System Market, By End Use, 2018-2030, (US$ Bn)
- Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2018-2030
- Segment Trends
- Public Transport Authority
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Bn)
- Private Transport Authority
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Bn)
8. Global Automated Fare Collection System Market, By Region, 2018-2030, (US$ Bn)
- Introduction
- Market Share Analysis, By Country, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, For Country 2018-2030
- Country Trends
- North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By System Component, 2023-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End Use, 2023-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2023-2030, (US$ Bn)
- Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By System Component, 2023-2030, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End Use, 2023-2030, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2023-2030, (US$ Bn)
- Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By System Component, 2023-2030, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End Use, 2023-2030, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2023-2030, (US$ Bn)
- Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By System Component, 2023-2030, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End Use, 2023-2030, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2023-2030, (US$ Bn)
- Middle East & Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By System Component, 2023-2030, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End Use, 2023-2030, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2023-2030, (US$ Bn)
9. Competitive Landscape
- Cubic Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- TSC Scheidt & Bachmann GmbH
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- TEC Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Bixolon Co., Ltd
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Citizen Holdings Co., Ltd
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Star Micronics Co., Ltd
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Seiko Epson Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- SATO Holdings Corporation.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Brother International Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Analyst Views
10. Section
- Research Methodology
- About us
