Global Automated Fare Collection Market, By Component (Hardware, Software), Service Type (Consulting, System Implementation, Training, Support, and Maintenance, Managed Services), System (Ticket Vending Machine (TVM), Ticket Office Machine (TOM), Fare Gates, IC Cards), Technology (Near-Field Communication (NFC), Magnetic Stripes, Smart Card, Optical Character Recognition (OCR), Others), Application (Rail and Transport, Parking, Theme Park, Others), End User (Transportation and Logistics, Government, Media and Entertainment, Retail, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Automated Fare Collection Market Analysis and Insights : Global Automated Fare Collection Market
The automated fare collection market size is valued at USD 25,197.92 million by 2028 and is expected to grow at a compound annual growth rate of 13.20% over the forecast period of 2021 to 2028. Data Bridge Market Research report on automated fare collection market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the markets growth.
The automated fare collection is a type of a system which is used to automate the ticketing system. This system consists of ticket checking machines, ticket vending machines, automatic gate machines and recharging terminals.
The automated fare collection market has a huge potential and is expected grow over the forecast period of 2021 to 2028, owing to the increase in investment emphasis on automated fare collection by various governments. In addition, the decrease in environmental pollution and various benefit of cashless travel facility are also largely influencing the growth of the automated fare collection market. Also the rise in need for solutions enabling congestion-free traffic is another driver anticipated to flourish the automated fare collection market growth. Additionally, the development in the transport infrastructure and security system and flexible fare plans are also expected to boost the growth of the automated fare collection market in the above mentioned forecast period.
However, the market of automated fare collection though has certain limitations which are expected to obstruct the potential growth of the market such as the high installation cost and slow growth in the developing and underdeveloped countries, whereas the lack of inter-operability and standardization among automated fare collection products can challenge the growth of the automated fare collection market in the above mentioned forecast period.
In addition, the need for public-private partnerships and rapid shift toward open road tolling are projected to offer various growth opportunities for the automated fare collection market in the forecast period of 2021 to 2028.
This automated fare collection market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on automated fare collection market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Automated Fare Collection Market Scope and Market Size
The automated fare collection market is segmented on the basis of component, service type, system, technology, application and end user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the automated fare collection market is segmented into hardware and software.
- The automated fare collection market is segmented on the basis of service type into consulting, system implementation, training, support, and maintenance and managed services.
- On the basis of system, the automated fare collection market is segmented into ticket vending machine (TVM), ticket office machine (TOM), fare gates and IC cards.
- Based on technology, the automated fare collection market is segmented into near-field communication (NFC), magnetic stripes, smart card, optical character recognition (OCR) and others.
- Based on application, the automated fare collection market is segmented into rail and transport, parking, theme park and others. Rail and transport has further been segmented into ticket vending machine, automatic collection gate, passenger service machine and smart card ticketing. Parking has further been segmented into parking entry/exit barriers, auto pay machine and ticket validating machine.
- Based on end user, the automated fare collection market is segmented into transportation and logistics, government, media and entertainment, retail and others.
Automated Fare Collection Market Country Level Analysis
The automated fare collection market is analyzed and market size, volume information is provided by country, component, service type, system, technology, application and end user as referenced above.
The countries covered in the automated fare collection market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).
North America leads the automated fare collection market because of the rise in tech-savvy population, better internet and communication network infrastructures and large number of smartphone users. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 due to high investments from governments of emerging economies aimed at the development of railway infrastructure and development of highway network.
The country section of the automated fare collection market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Automated Fare Collection Market Share Analysis
The automated fare collection market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to automated fare collection market.
The major players covered in the automated fare collection market report are Cubic Corporation, Indra, Thales Group, GMV, ST Engineering, Atos SE, Longbow Technologies Sdn Bhd, Samsung, Genfare, Advanced Card Systems Ltd., NIPPON SIGNAL CO., LTD., OMRON Corporation, Vix Technology, Scheidt & Bachmann GmbH, Siemens, NXP Semiconductors, LG CNS, Sony Corporation, LECIP HOLDINGS CORPORATION, and Masabi Ltd, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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