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Global Automated Fare Collection Market Is Estimated To Reach USD 13,594 million in 2026 : Polaris Market Research

Automated Fare Collection Market expected to grow from USD 5,467 million in 2017 to USD 13,594 million by 2026, at a CAGR of 10.9% during the forecast period

Automated fare collection systems automate the ticketing process for transportation network by providing fast access to transport, easy maintenance and security against fraud.”
— Polaris Market Research

BROOKLYN, NY, UNITED STATES, February 8, 2018 /EINPresswire.com/ -- According to a new study published by Polaris Market Research, The Global Automated Fare Collection Market generated USD 5,467 million in 2017 and is anticipated to grow at a CAGR of 10.9% during the forecast period. Automated fare collection systems automate the ticketing process for transportation network by providing fast access to transport, easy maintenance and security against fraud. Automated fare collection system comprises an automatic gate machine, a ticket vending machine, and a ticket checking machine. These systems replace paper tickets with electronic tickets and offer easy collection of usage data through transaction logging, enhanced services, improved customer experience, and flexible pricing schemes.

There has been an increasing demand of automated fare collection systems owing to increasing automation in the transportation sector, and growing need for efficient management of traffic. Governments are significantly investing in developing transportation infrastructure, thereby supporting market growth. The increasing need to reduce overall operation cost, and reduce human labor as increased the adoption of automated fare collection systems. The growing demand from emerging economies, and technological advancements would provide growth opportunities in the coming years.

The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Automated Fare Collection Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.


North America generated the highest revenue in 2017 owing to increasing investments in development of transport infrastructure in the region. The stringent regulations regarding transportation along with technological advancements have increased the adoption of automated fare collection systems in the region.

Competitive Landscape and Key Vendors

The global Automated Fare Collection Market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.

The leading companies profiled in the report include Thales Group, Longbow Technologies S/B, Cubic Corporation, Advanced Card Systems Holdings Limited, Atos SE, Indra Sistemas SA, UL Transaction Security, Siemens AG, Samsung SDS Co. Ltd., GMV Innovating Solutions, Masabi Ltd., and Omron Corporation.

Key Segments

Segment – 1. Component

1.1 Hardware
1.2 Software
1.3 Services

Segment – 2. Technology

2.1 Near-Field Communication (NFC)
2.2 Smart Cards
2.3 Magnetic Strips
2.4 Optical Character Recognition (OCR)
2.5 Others

Segment -3. End-User

3.1 Public Transport Authority
3.2 Private Transport Authority
3.3 Others

Segment – 4. Region

4.1 North America

4.1.1 U.S.
4.1.2 Canada
4.1.3 Mexico

4.2Europe

4.2.1 Germany
4.2.2 UK
4.2.3 France
4.2.4 Italy
4.2.5 Rest of Europe

4.3 Asia-Pacific

4.3.1 China
4.3.2 India
4.3.3 Japan
4.3.4 Rest of Asia-Pacific

4.4 Latin America

4.4.1 Brazil
4.4.2 Rest of Latin America

4.5 Middle East and Africa

Browse other reports by Polaris Market Research:

https://www.polarismarketresearch.com/industry/Electronics-&-Semiconductors/

Neel
Polaris Market Research & Consulting
+16465689980
email us here

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