According to the latest report by IMARC Group, titled “Automated Fare Collection Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, offers a comprehensive analysis of the industry, which comprises insights on the global automated fare collection market size. The global automated fare collection market size reached a value of US$ 6.3 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 11.4% during 2021-2026.

Automatic fare collection (AFC) refers to a ticketing system used in public transport and enables the payment for a fare through vending machines and online services. It consists of depot/station computers, central clearing house, fare media, back-office systems, and devices to read/write media. AFC systems conduct reliable, integrated and accurate fare collection to maintain a smooth passenger flow at peak hours. They offer various benefits, including reduced fraud chances, decreased cash payments, low investment costs, and a seamless customer experience.

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Market Trends:

The growing need for an integrated system for ticketing in public transport networks is primarily fueling the global AFC market growth. The increasing establishment of smart city projects across the globe is further escalating demand for efficient AFC systems. Besides this, the rising requirement for an interoperable fare management system in multi-operator public transports is driving the market growth. Moreover, the increasing utilization of contactless bank cards, particularly in developing nations, is creating a positive outlook for the AFC market.

Automated Fare Collection Market 2021-2026 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • Advanced Card Systems Limited (HNA Technology Investments Holdings)
  • Atos SE, Cubic Corporation
  • Indra Sistemas SA
  • Nippon Signal Co. Ltd.
  • NXP Semiconductors N.V.
  • Omron Corporation, Scheidt & Bachmann GmbH
  • Siemens AG
  • Sony Corporation
  • STMicroelectronics and Thales Group

The report has segmented the market on the basis of component, system type, technology, application and region.

Breakup by Component:

  • Hardware
  • Software and Services

Breakup by System Type:

  • Ticket Vending Machine (TVM)
  • Ticket Office Machine (TOM)
  • Fare Gates
  • IC Cards

Breakup by Technology:

  • Smart Card
  • Magnetic Stripe
  • Near Field Communication (NFC)
  • Others

Breakup by Application:

  • Railways and Transportation
  • Parking
  • Entertainment
  • Others

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

Key highlights of the report:

  • Market Performance (2015-2020)
  • Market Outlook (2021-2026)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive mapping of the competitive landscape

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