Automated Fare Collection Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024

Category : Semiconductor and Electronics | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC232

Automated fare collection is a system used in transporting networks, designed to increase the efficiency in the process of collecting fare and improvement in the transaction rate. It can also be called as automated ticketing system. The automated fare collection system also facilitate the transport system in expanding customer base and its establishment. In addition, this system aids to save time as it removes waiting in queues for purchasing tickets. Furthermore, installation of automated fare collection system allows the transport authorities to deliver enhanced services to their customers. This is considered as a smart payment method used in intelligent public transport systems. This system consists of ticket vending machines, ticket checking machines, automatic gate machines and recharging terminals. This system enables travellers to access several transportation modes including railways, metro, buses and taxi, for travelling using pre-paid cards and tickets to pass or cross via the automated electronic gates.
Development of metro and mono rail services in the developing cities is one of key driver facilitating the growth of automated fare collection market. Another reason for the growth of market is the increasing focus of governments towards improvement and advancement of both transportation infrastructure as well as transportation security. The rising preference of people to make payments using their credit or debit cards is also driving the market for automated fare collection systems. Other factors propelling the market growth include awareness to adopt new and smart technology and increased benefits delivered by such systems. Some of the new technologies developed for automated fare collection includes commercial vehicle operation, advanced traffic management system, automated fare collection enabled theme parks, advanced public transportation and advanced transportation pricing systems.
The preference and adoption of these systems is increasing due to its ability to deliver more accurate and reliable operations and reducing the probability of errors as compared to the traditional methods used for collecting fare. However, the high cost of installation required for automated fare collection systems and high cost included in the development of infrastructure are the major factors restricting the market growth. Although, the increasing demand for systems that helps in the enhancement of business operations in order to maximize profitability is anticipated to drive the market in the near future. Many established transport agencies are entering into strategic partnerships with several automated fare collection system manufacturers, financial institutions and solution providers to incorporate the automate fare collection process and enable them to decrease the overall costs.
The market for automated fare collection is classified on the basis of application, technology, service type, industry and geography. By application, the market is segmented into rail & transport, theme parks, parking and others. On the basis of technology, the market is segmented by near-field communication, magnetic stripes and others. Further, based on service type, the market is bifurcated into consulting, training, support & maintenance, system implementation and managed services. On the basis of industry vertical, the segmentation of the market includes government, transportation & logistics, retail, media & entertainment and others. Geographically, the market is bifurcated into North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
North America is expected to have a highly competitive and extremely open market for automated fare collection owing to the tendency to adopt new and latest technology and stringent government regulations framed for many industries in this region. APAC is analyzed to witness a high growth for the automated fare collection market in the near future attributed by increased implementation of these systems by companies to offer high degree of services to their customers in terms of performance, quality and capacity. Some of the key players in the market include Cubic Transportation, Samsung SDS, Thales Group, and ST Electronics among others. 

Related Reports

Single Board Computer Market (By Component: Solution [VME, cPCI, VPX, xTCA], Service [System Integration, Customization, Aftersales]; By Processor: ARM, x86, Atom, PowerPC; By End-use: Industrial Automation, Aerospace & Defense, Transportation, Medical, Entertainment; By Application: Test & Measurement, Communication, Data Processing, Research) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026

Introduction The single board computer is made by growing density of integrated circuits. Single Board Computer is obtained by integrating all the functionalities on a single board. This configuration of the single board computer also reduces the overall cost of the system by dropping number of connectors and bus drivers and eliminating the number of required circuit boards. The report provides analysis of

Smart Home Market (By Product: Lighting Control, Security & Access Control, HVAC, Entertainment, Smart Speaker, Home Healthcare, Smart Kitchen, Home Appliances, Smart Furniture, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026

Introduction Smart homes are automated homes with various smart functions such as control lighting, entertainment systems, appliances and climate. It also consists of home security such as alarm systems and access control. Home devices are main element of the Internet of Things (IoT), when connected with the Internet. A smart home generally connects controlled devices to a gateway or central hub. The repor

Telecom Electronic Manufacturing Services (EMS) Market (By Service: Electronic design & engineering, Electronics assembly, Electronic manufacturing, Supply chain management, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026

Introduction The global telecom electronic manufacturing services (EMS) market size is anticipated to around USD 234.2 billion by 2026, this market is anticipated to grow with 7.4% CAGR during the forecast time period. Market Dynamics IoT is the following key pattern and is a

Metrology Service Market (By Product: Coordinate Measuring Machine (CMM) [Gantry Machine, Bridge Machine, Articulated Arm Machine, Horizontal Arm Machine], Optical Digitizer and Scanner (ODS) [3D Laser Scanner, White Light Scanner, Laser Tracker]; By Applications: Automotive, Aerospace, Industrial, Power Generation, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026

Introduction The global metrology service market size is anticipated to around USD 1.2 billion by 2026, this market is anticipated to grow with 8.0% CAGR during the forecast time period. Market Dynamics Market for Coordinate Measuring Machine (CMM) is relied upon to witness a

Hospital Light Market (By Product: Surface-mounted Lights, Troffers, Surgical Lamps; By Technique: Fluorescent, Halogen, LED; By Point of Use: Operating Rooms, Patient Wards, and ICUs, Examination Rooms) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026

Introduction Hospital lights play a crucial role in healthcare, improving both the staff’s ability and patient experience to offer the required level of care. Their main motto is not only to maintain at a certain level of care but also LED lighting can boost the care environment and reduce costs by saving power and improving operational efficiency. Furthermore, the main purpo

Force Sensor Market (By Type: Tension Force, Compression Force, Both; By Application: Industry: Oil & Gas, Automotive, Medical, Industrial, Aerospace & Defense) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026

Introduction The force sensors are the sensors that are used to measure the force between the two surfaces. These sensors are majorly used for converting the applied pressure into the equivalent value of electric current. Force sensors can be easily integrated into force measurement application as it is ultra-thin sensors. Force sensors are known to be force sensing sensor, when th

Cart Summary