Automated Fare Collection System Trends and Forecast
The future of the global automated fare collection system market looks promising with opportunities in the bus, toll, train, and car rental markets. The global automated fare collection system market is expected to reach an estimated $31.0 billion by 2030 with a CAGR of 14.4% from 2024 to 2030. The major drivers for this market are increasing population in urban areas are putting pressure on public transportation systems, rising demand for faster and more convenient travel experiences from passengers, and growing demand for multi-modal ticketing solutions that allow seamless travel across different modes of public transportation.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Automated Fare Collection System by Segment
The study includes a forecast for the global automated fare collection system by technology platform, component, application, and region.
Automated Fare Collection System Market by Technology Platform [Shipment Analysis by Value from 2018 to 2030]:
• Smart Card
• Optical Character Recognition
• Near Field Communications
• Others
Automated Fare Collection System Market by Component [Shipment Analysis by Value from 2018 to 2030]:
• Hardware
• Software
Automated Fare Collection System Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Bus
• Toll
• Train
• Car Rental
Automated Fare Collection System Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Automated Fare Collection System Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies automated fare collection system companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the automated fare collection system companies profiled in this report include-
• Atos
• Cubic Transportation Systems
• Dormakaba
• LECIP Group
• LG CNS
• NXP Semiconductors
• OMRON
• Samsung
• Scheidt&Bacchhan
• Thales Group
Automated Fare Collection System Market Insights
Lucintel forecasts that near field communication is expected to witness the highest growth over the forecast period.
Within this market, train is expected to witness the highest growth.
APAC is expected to witness highest growth over the forecast period due to strong economic growth, increased disposable income, local governments investing more in infrastructure, and significant pledges from business titans.
Features of the Global Automated Fare Collection System Market
Market Size Estimates: Automated fare collection system market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Automated fare collection system market size by technology platform, component, application, and region in terms of value ($B).
Regional Analysis: Automated fare collection system market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different technology platform, component, application, and regions for the automated fare collection system market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the automated fare collection system market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the automated fare collection system market size?
Answer: The global automated fare collection system market is expected to reach an estimated $31.0 billion by 2030.
Q2. What is the growth forecast for automated fare collection system market?
Answer: The global automated fare collection system market is expected to grow with a CAGR of 14.4% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the automated fare collection system market?
Answer: The major drivers for this market are increasing population in urban areas are putting pressure on public transportation systems, rising demand for faster and more convenient travel experiences from passengers, and growing demand for multi-modal ticketing solutions that allow seamless travel across different modes of public transportation.
Q4. What are the major segments for automated fare collection system market?
Answer: The future of the global automated fare collection system market looks promising with opportunities in the bus, toll, train, and car rental markets.
Q5. Who are the key automated fare collection system market companies?
Answer: Some of the key automated fare collection system companies are as follows:
• Atos
• Cubic Transportation Systems
• Dormakaba
• LECIP Group
• LG CNS
• NXP Semiconductors
• OMRON
• Samsung
• Scheidt&Bacchhan
• Thales Group
Q6. Which automated fare collection system market segment will be the largest in future?
Answer: Lucintel forecasts that near field communication is expected to witness the highest growth over the forecast period.
Q7. In automated fare collection system market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period due to strong economic growth, increased disposable income, local governments investing more in infrastructure, and significant pledges from business titans.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the automated fare collection system market by technology platform (smart card, optical character recognition, near field communications, and others), component (hardware and software), application (bus, toll, train, and car rental), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Automated Fare Collection System Market, Automated Fare Collection System Market Size, Automated Fare Collection System Market Growth, Automated Fare Collection System Market Analysis, Automated Fare Collection System Market Report, Automated Fare Collection System Market Share, Automated Fare Collection System Market Trends, Automated Fare Collection System Market Forecast, Automated Fare Collection System Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.