Global automatic fare collection system market expected to reach around USD 14.5 billion by 2025, at a CAGR approximately 13.7% between 2019 and 2025. The automatic fare collection system market is anticipated to grow notably in the future, owing to the ability of faster transactions.
The primary reason driving the market’s growth is the expansion of environmental measures to automate fare collection. Another factor driving market expansion is the increased demand for solutions to ensure congestion-free traffic. In addition, the growing contribution to reducing environmental degradation and the adoption of the cashless travel facility are two other aspects contributing to the market’s growth. The report on the Global Automated Fare Collection Market provides a comprehensive analysis of the industry. The research includes a detailed analysis of key segments, trends, drivers, constraints, the competitive landscape, and other important market variables.
Some companies in the market include :
Advanced Card Systems Ltd., Cubic Corporation, Atos SE, GMV, Indra Sistemas SA, LECIP Holdings Corporation, LG CNS, Masabi Ltd., Omron Corporation, Nippon Signal Co., Ltd., NXP Semiconductors N.V., Samsung SDS Co. Ltd., Scheidt & Bachmann GmbH, Siemens AG, Telexis B.V., Singapore Technologies Engineering Limited, Trapeze Group, Thales Group, UL Identity Management & Security, Vix Technology, and Thales Group.
Automated Fare Collection Market, By Technology
• Near field communication
• Magnetic stripes
Based on Technology, the market is bifurcated into Near field communication, Magnetic stripes, Others. The Smart card technology segment holds the largest market share and is estimated to witness the highest CAGR during the forecast period. The factors that can be attributed to enhanced operating flexibility and faster processing speed than magnetic stripe cards are accelerating the demand for this segment.
Automated Fare Collection Market, By Vertical
• Transportation and logistics
• Media and entertainment
Key Benefits For Stakeholders
- This study comprises analytical depiction of the automated fare collection system market trends with current trends and future estimations to depict the imminent investment pockets.
- The overall potential is determined to understand the profitable trends to gain a stronger foothold.
- The automated fare collection system market analysis report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current growth and automated fare collection system market forecasts quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the automated fare collection system market share.
- The study also comprises the automated fare collection system market opportunity, which helps key players in decision making.
- The leading players in the industry are expecting high revenue margin from automated fare collection system market returns.