Industry Background:
Automated fare collection is defined as a ticketing system in public transport where the money is not paid directly but via vending machine, online service or other digital methods. This system helps the consumer to get the ticket easily. These systems facilitate fare collection, monitoring of issuing, improves the overall transaction rate, saves the extensive amount of time, maintenance, process control and more. Factors such as an increase in demand for smartphones, improved efficiency, adjustable fare plans, and improved security systems encourage the growth of the automated fare collection system market.This growth is primarily driven by Benefits of Cashless Travel Facility
.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | K Unit |
Value Unit | USD (Million) |
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 Air Freight & Logistics 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 Manufacturers, such as Cubic Transportation (United States), Thales Group (France), Samsung SDS (South Korea), Indra (Spain), ST Electronics (Switzerland), ATOS (France), Advanced Card Systems Holdings Limited (Hong Kong), Genfare (United States), iBlocks Limited (United Kingdom), LG (South Korea), Masabi (United Kingdom), Nippon Signal (Japan), NXP Semiconductors N.V. (Netherlands), Omron (Japan), Scheidt & Bachmann GmbH (Germany), Siemens AG (Germany) and Sony (Japan), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Influencing Trend:
Use of Advanced Technology That Brings in Efficiency and Makes the Whole Process Far simpler and More Convenient
Market Growth Drivers:
Benefits of Cashless Travel Facility, Rise in Usage of Real-Time Payment and Digital Payment Gateways such as Debit Card and Credit Card, Increasing Need For Automation to Increase Efficiency and Need for Solutions Enabling Congestion-Free Traffic
Challenges:
Lack of Inter-Operability and Standardization Among Automated Fare Collection Products
Restraints:
High Cost of Installation and Implementation
Opportunities:
Rapid Public Infrastructure Developments in Developing Economies Across the World and The requirement for Public-Private Partnerships Toward Open Road Tolling
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 Manufacturers 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 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 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 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 Study Sheds Light on
The Automated Fare Collection Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Automated Fare Collection industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Automated Fare Collection 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 Manufacturers 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.