Industry Background:
Automated fare collection system refers to the automated ticketing system used to analyze passenger flow records for public transport. Fare collection and ticket issued play an important role in the proper management of the overall transportation system. Automated fare collection system reduces the risk of fraud from both transport companies and customers end. Some of the features of the automated fare collection systems are it is real-time data collection of rider’s data, transaction, security, effective management of the collected funds, and others. Increasing demand for public transports from the public worldwide driving the demand for automated fare collection system
According to AMA Research, the market for Automated Fare Collection Systems is expected to register a CAGR of 11.01% during the forecast period to 2027. This growth is primarily driven by Increase in Number of Daily Travelers
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | unit |
Value Unit | USD (Million) |
Dominating Type | Smart Card |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Robotics & Automation sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Advanced Card Systems Ltd. (Hong Kong), Thales Group (France), Omron Corporation (Japan), Vix Technology (United Kingdom), Samsung (South Korea), GMV (Spain), NIPPON SIGNAL CO., LTD (Japan) and NXP SEMICONDUCTORS N.V. (Netherlands), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
2019, Bharat Electronics launched the new automated fare collection system called SWAGAT for metro, bus, and trains. The recent developments in the transportation industry generating huge demand for automated fare collection system
Influencing Trend:
Adoption of New Technologies Such as Near-Field Communication (NFC), Magnetic Stripes
Market Growth Drivers:
Increase in Number of Daily Travelers and Increasing Adoption of Public Transportation Primarily, Metro Railways, and Rapid Bus
Challenges:
Issue Related to the Malfunctioning of These Systems and Lack of Digital Money, and E Payments Platforms and IT Infrastructure from Developing Countries
Restraints:
Higher Initial Investments in Installing Automated Fare Collection Systems
Opportunities:
Rising Demand for Advanced Public Transport Solutions in Both Nations, Highly Escalating Bit Money Infrastructure over the Past Decade and Minimizes the Customer Waiting Time as Well as Operational Expenses, and Increasing Adoption from Number of Applications
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Automated Fare Collection Systems Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Automated Fare Collection Systems Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Automated Fare Collection Systems players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Automated Fare Collection Systems Study Sheds Light on
The Automated Fare Collection Systems Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Automated Fare Collection Systems industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Automated Fare Collection Systems industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.