Automated Fare Collection Market Size, Share & Trends Analysis Report By Component (Hardware, Software), By Technology, By System, By Application, By Region, And Segment Forecasts, 2023 - 2030
- Report ID: 978-1-68038-508-3
- Number of Report Pages: 150
- Format: PDF
- Historical Range: 2018 - 2021
- Forecast Period: 2023 - 2030
- Industry: Technology
Market Segmentation
- Automated Fare Collection Component Outlook (Revenue, USD Million, 2018 - 2030)
- Hardware
- Software
- Automated Fare Collection Technology Outlook (Revenue, USD Million, 2018 - 2030)
- Smart Card
- Magnetic Stripe
- Near-field communication (NFC)
- Optical Character Recognition (OCR)
- Automated Fare Collection System Outlook (Revenue, USD Million, 2018 - 2030)
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- Automated Fare Collection Application Outlook (Revenue, USD Million, 2018 - 2030)
- Railways & Transportation
- Parking
- Entertainment
- Others (Government, Retail)
- Automated Fare Collection Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- North America Automated Fare Collection Market, by Component
- Hardware
- Software
- North America Automated Fare Collection Market, by Technology
- Smart Card
- Magnetic Stripe
- Near-field communication (NFC)
- Optical Character Recognition (OCR)
- North America Automated Fare Collection Market, by System
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- North America Automated Fare Collection Market, by Application
- Railways & Transportation
- Parking
- Entertainment
- Others
- U.S.
- U.S. Automated Fare Collection Market, by Component
- Hardware
- Software
- U.S. Automated Fare Collection Market, by Technology
- Smart Card
- Magnetic Stripe
- Near-field communication (NFC)
- Optical Character Recognition (OCR)
- U.S. Automated Fare Collection Market, by System
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- U.S. Automated Fare Collection Market, by Application
- Railways & Transportation
- Parking
- Entertainment
- Others
- U.S. Automated Fare Collection Market, by Component
- Canada
- Canada Automated Fare Collection Market, by Component
- Hardware
- Software
- Canada Automated Fare Collection Market, by Technology
- Smart Card
- Magnetic Stripe
- Near-field communication (NFC)
- Optical Character Recognition (OCR)
- Canada Automated Fare Collection Market, by System
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- Canada Automated Fare Collection Market, by Application
- Railways & Transportation
- Parking
- Entertainment
- Others
- Canada Automated Fare Collection Market, by Component
- North America Automated Fare Collection Market, by Component
- Europe
- Europe Automated Fare Collection Market, by Component
- Hardware
- Software
- Europe Automated Fare Collection Market, by Technology
- Smart Card
- Magnetic Stripe
- Near-field communication (NFC)
- Optical Character Recognition (OCR)
- Europe Automated Fare Collection Market, by System
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- Europe Automated Fare Collection Market, by Application
- Railways & Transportation
- Parking
- Entertainment
- Others
- Germany
- Germany Automated Fare Collection Market, by Component
- Hardware
- Software
- Germany Automated Fare Collection Market, by Technology
- Smart Card
- Magnetic Stripe
- Near-field communication (NFC)
- Optical Character Recognition (OCR)
- Germany Automated Fare Collection Market, by System
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- Germany Automated Fare Collection Market, by Application
- Railways & Transportation
- Parking
- Entertainment
- Others
- Germany Automated Fare Collection Market, by Component
- U.K.
- U.K. Automated Fare Collection Market, by Component
- Hardware
- Software
- U.K. Automated Fare Collection Market, by Technology
- Smart Card
- Magnetic Stripe
- Near-field communication (NFC)
- Optical Character Recognition (OCR)
- U.K. Automated Fare Collection Market, by System
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- U.K. Automated Fare Collection Market, by Application
- Railways & Transportation
- Parking
- Entertainment
- Others
- U.K. Automated Fare Collection Market, by Component
- France
- France Automated Fare Collection Market, by Component
- Hardware
- Software
- France Automated Fare Collection Market, by Technology
- Smart Card
- Magnetic Stripe
- Near-field communication (NFC)
- Optical Character Recognition (OCR)
- France Automated Fare Collection Market, by System
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- France Automated Fare Collection Market, by Application
- Railways & Transportation
- Parking
- Entertainment
- Others
- France Automated Fare Collection Market, by Component
- Italy
- Italy Automated Fare Collection Market, by Component
- Hardware
- Software
- Italy Automated Fare Collection Market, by Technology
- Smart Card
- Magnetic Stripe
- Near-field communication (NFC)
- Optical Character Recognition (OCR)
- Italy Automated Fare Collection Market, by System
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- Italy Automated Fare Collection Market, by Application
- Railways & Transportation
- Parking
- Entertainment
- Others
- Italy Automated Fare Collection Market, by Component
- Spain
- Spain Automated Fare Collection Market, by Component
- Hardware
- Software
- Spain Automated Fare Collection Market, by Technology
- Smart Card
- Magnetic Stripe
- Near-field communication (NFC)
- Optical Character Recognition (OCR)
- Spain Automated Fare Collection Market, by System
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- Spain Automated Fare Collection Market, by Application
- Railways & Transportation
- Parking
- Entertainment
- Others
- Spain Automated Fare Collection Market, by Component
- Europe Automated Fare Collection Market, by Component
- Asia Pacific
- Asia Pacific Automated Fare Collection Market, by Component
- Hardware
- Software
- Asia Pacific Automated Fare Collection Market, by Technology
- Smart Card
- Magnetic Stripe
- Near-field communication (NFC)
- Optical Character Recognition (OCR)
- Asia Pacific Automated Fare Collection Market, by System
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- Asia Pacific Automated Fare Collection Market, by Application
- Railways & Transportation
- Parking
- Entertainment
- Others
- China
- China Automated Fare Collection Market, by Component
- Hardware
- Software
- China Automated Fare Collection Market, by Technology
- Smart Card
- Magnetic Stripe
- Near-field communication (NFC)
- Optical Character Recognition (OCR)
- China Automated Fare Collection Market, by System
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- China Automated Fare Collection Market, by Application
- Railways & Transportation
- Parking
- Entertainment
- Others
- China Automated Fare Collection Market, by Component
- India
- India Automated Fare Collection Market, by Component
- Hardware
- Software
- India Automated Fare Collection Market, by Technology
- Smart Card
- Magnetic Stripe
- Near-field communication (NFC)
- Optical Character Recognition (OCR)
- India Automated Fare Collection Market, by System
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- India Automated Fare Collection Market, by Application
- Railways & Transportation
- Parking
- Entertainment
- Others
- India Automated Fare Collection Market, by Component
- Japan
- Japan Automated Fare Collection Market, by Component
- Hardware
- Software
- Japan Automated Fare Collection Market, by Technology
- Smart Card
- Magnetic Stripe
- Near-field communication (NFC)
- Optical Character Recognition (OCR)
- Japan Automated Fare Collection Market, by System
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- Japan Automated Fare Collection Market, by Application
- Railways & Transportation
- Parking
- Entertainment
- Others
- Japan Automated Fare Collection Market, by Component
- South Korea
- South Korea Automated Fare Collection Market, by Component
- Hardware
- Software
- South Korea Automated Fare Collection Market, by Technology
- Smart Card
- Magnetic Stripe
- Near-field communication (NFC)
- Optical Character Recognition (OCR)
- South Korea Automated Fare Collection Market, by System
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- South Korea Automated Fare Collection Market, by Application
- Railways & Transportation
- Parking
- Entertainment
- Others
- South Korea Automated Fare Collection Market, by Component
- Australia
- Australia Automated Fare Collection Market, by Component
- Hardware
- Software
- Australia Automated Fare Collection Market, by Technology
- Smart Card
- Magnetic Stripe
- Near-field communication (NFC)
- Optical Character Recognition (OCR)
- Australia Automated Fare Collection Market, by System
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- Australia Automated Fare Collection Market, by Application
- Railways & Transportation
- Parking
- Entertainment
- Others
- Australia Automated Fare Collection Market, by Component
- Asia Pacific Automated Fare Collection Market, by Component
- Latin America
- Latin America Automated Fare Collection Market, by Component
- Hardware
- Software
- Latin America Automated Fare Collection Market, by Technology
- Smart Card
- Magnetic Stripe
- Near-field communication (NFC)
- Optical Character Recognition (OCR)
- Latin America Automated Fare Collection Market, by System
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- Latin America Automated Fare Collection Market, by Application
- Railways & Transportation
- Parking
- Entertainment
- Others
- Brazil
- Brazil Automated Fare Collection Market, by Component
- Hardware
- Software
- Brazil Automated Fare Collection Market, by Technology
- Smart Card
- Magnetic Stripe
- Near-field communication (NFC)
- Optical Character Recognition (OCR)
- Brazil Automated Fare Collection Market, by System
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- Brazil Automated Fare Collection Market, by Application
- Railways & Transportation
- Parking
- Entertainment
- Others
- Brazil Automated Fare Collection Market, by Component
- Mexico
- Mexico Automated Fare Collection Market, by Component
- Hardware
- Software
- Mexico Automated Fare Collection Market, by Technology
- Smart Card
- Magnetic Stripe
- Near-field communication (NFC)
- Optical Character Recognition (OCR)
- Mexico Automated Fare Collection Market, by System
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- Mexico Automated Fare Collection Market, by Application
- Railways & Transportation
- Parking
- Entertainment
- Others
- Mexico Automated Fare Collection Market, by Component
- Argentina
- Argentina Automated Fare Collection Market, by Component
- Hardware
- Software
- Argentina Automated Fare Collection Market, by Technology
- Smart Card
- Magnetic Stripe
- Near-field communication (NFC)
- Optical Character Recognition (OCR)
- Argentina Automated Fare Collection Market, by System
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- Argentina Automated Fare Collection Market, by Application
- Railways & Transportation
- Parking
- Entertainment
- Others
- Argentina Automated Fare Collection Market, by Component
- Latin America Automated Fare Collection Market, by Component
- Middle East & Africa
- Middle East & Africa Automated Fare Collection Market, by Component
- Hardware
- Software
- Middle East & Africa Automated Fare Collection Market, by Technology
- Smart Card
- Magnetic Stripe
- Near-field communication (NFC)
- Optical Character Recognition (OCR)
- Middle East & Africa Automated Fare Collection Market, by System
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- Middle East & Africa Automated Fare Collection Market, by Application
- Railways & Transportation
- Parking
- Entertainment
- Others
- U.A.E
- U.A.E Automated Fare Collection Market, by Component
- Hardware
- Software
- U.A.E Automated Fare Collection Market, by Technology
- Smart Card
- Magnetic Stripe
- Near-field communication (NFC)
- Optical Character Recognition (OCR)
- U.A.E Automated Fare Collection Market, by System
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- U.A.E Automated Fare Collection Market, by Application
- Railways & Transportation
- Parking
- Entertainment
- Others
- U.A.E Automated Fare Collection Market, by Component
- Saudi Arabia
- Saudi Arabia Automated Fare Collection Market, by Component
- Hardware
- Software
- Saudi Arabia Automated Fare Collection Market, by Technology
- Smart Card
- Magnetic Stripe
- Near-field communication (NFC)
- Optical Character Recognition (OCR)
- Saudi Arabia Automated Fare Collection Market, by System
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- Saudi Arabia Automated Fare Collection Market, by Application
- Railways & Transportation
- Parking
- Entertainment
- Others
- Saudi Arabia Automated Fare Collection Market, by Component
- South Africa
- South Africa Automated Fare Collection Market, by Component
- Hardware
- Software
- South Africa Automated Fare Collection Market, by Technology
- Smart Card
- Magnetic Stripe
- Near-field communication (NFC)
- Optical Character Recognition (OCR)
- South Africa Automated Fare Collection Market, by System
- Ticket Vending Machine (TVM)
- Ticket Office Machine (TOM)
- Fare Gates
- IC Cards
- South Africa Automated Fare Collection Market, by Application
- Railways & Transportation
- Parking
- Entertainment
- Others
- South Africa Automated Fare Collection Market, by Component
- Middle East & Africa Automated Fare Collection Market, by Component
- North America
Automated Fare Collection Market Dynamics
Drivers: Increasing Investments In Transport Infrastructure Development
The global increase in passenger traffic is a result of population growth. The United Nations Department of Economic and Social Affairs (UN DESA) reported in 2018 that 55% of the world’s population resides in urban areas, a figure projected to rise to over 68% by 2050. This rapid urbanization worldwide presents various challenges to the transportation sector. In countries such as India, where industrialization is fast-paced, people are moving from rural to urban areas, necessitating improved transportation infrastructure. To address these issues, governments are investing heavily in metro infrastructure development in countries such as India, Brazil, Canada, the U.S., the UK, and China. This is likely to boost the demand for automated fare collection systems in the future. For example, in August 2023, Cubic Transportation Systems (CTS), a provider of integrated transit solutions, implemented its Umo Platform, an automated fare collection system, in BC Transit’s Victoria Regional Transit System in Canada. This new system allows BC Transit riders to pay for their journeys using the Umo Mobility smartphone app or by topping up their Umo smart card. The app also assists passengers in planning their trips with real-time information and map navigation features. In addition, in June 2022, the National Capital Region Transport Corporation (NCRTC), an Indian government venture, collaborated with Paytm Payments Bank Limited to create an automated fare collection system for India’s first Regional Rapid Transit System (RRTS) between Delhi and Meerut.
Supportive Government Initiatives For Smart Cities
The idea of smart cities has been gaining popularity recently, with governments in emerging economies across Asia Pacific, MEA, and Latin America launching initiatives to support smart city developments. However, for these projects to be implemented and monitored effectively over time, a proactive and stable government is essential. Government bodies play a crucial role in making informed decisions and facilitating changes. City and local governments have a more significant role in smart city initiatives than national and regional governing bodies. These local and city governments have been taking on diverse roles such as enablers of solutions, stewards, and strategists, by creating effective ecosystems for transport solutions and generating strong market opportunities for the AFC market. Government bodies are anticipated to be the main proponents of smart and innovative solutions, facilitating flexible regulations, enabling the entry of new players, and simultaneously protecting the interests of the citizens and the city. They are also focusing on implementing automated fare collection systems across various smart city projects to cater to commuters’ needs and enhance their quality of life. Several public transportation companies are also concentrating on adopting various intelligent transportation systems to expedite the global transition to smart cities. For example, in October 2023, Metrobus, a public transport service provider in Johannesburg, South Africa, introduced an intelligent transportation system that includes free public Wi-Fi, an onboard bus camera monitoring system, and an automated fare collection platform. The company’s goal is to decrease the drivers’ unsupervised income by installing cashless automated fare collection systems.
Restrains: High Initial Costs Of Afc Solutions And Funding Shortages
The use of automated fare collection systems has been on the rise in recent years due to their numerous advantages. However, the market’s growth is hampered by factors such as the high initial investment required for these systems and the financial commitment necessary for long-term projects. The need for organizational consolidation to develop integrated solutions and systems for operating the automated fare collection infrastructure presents another challenge to the market. The lack of a systematic approach to maintaining AFC solutions and a shortage of skilled personnel also adversely affect the implementation of AFC solutions. In addition, funding delays and shortages can postpone current and future projects. As transportation authorities are the main customers of these systems, delays in funding due to slow approvals are common. This lag in funding can deter private entities from investing in urban development projects, thereby impeding market growth.
What Does This Report Include?
This section will provide insights into the contents included in this automated fare collection market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Automated fare collection market qualitative analysis
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Industry overview
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Industry trends
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Market drivers and restraints
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Market size
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Growth prospects
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Porter’s analysis
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PESTEL analysis
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Key market opportunities prioritized
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Competitive landscape
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Company overview
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Financial performance
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Product benchmarking
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Latest strategic developments
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Automated fare collection market quantitative analysis
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Market size, estimates, and forecast from 2018 to 2030
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Market estimates and forecast for product segments up to 2030
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Regional market size and forecast for product segments up to 2030
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Market estimates and forecast for application segments up to 2030
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Regional market size and forecast for application segments up to 2030
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Company financial performance
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