Dublin, Aug. 20, 2019 (GLOBE NEWSWIRE) -- The "Automated Fare Collection Market Size, Share & Trends Analysis Report By System (TVM, TOM), By Technology (Smart Card, NFC), By Application, By Component (Hardware, Software), And Segment Forecasts, 2019 - 2025" report has been added to ResearchAndMarkets.com's offering.
The global automated fare collection market size is expected to reach USD 19.89 billion by 2025 registering a CAGR of 13.6% from 2019 to 2025.
Growing adoption of digital technologies to improve transaction processing speed and to reduce issues associated with cash handling and ticket management is anticipated to remain one of the leading factors driving the market.
Focus of governments on the performance optimization of existing public transit systems, such as subways, buses, trams, and metros, is also expected to boost the usage of technology-driven AFC systems for digital transaction processing and payment management.
Increasing penetration of the technology has provided transit system operators an effective way to reduce counter congestions, operational costs, waiting time, and cash leakage issues often faced in traditional fare collection systems. This has also facilitated hassle-free and convenient travel experiences for commuters.
Rising awareness about these benefits is compelling transit operators to replace conventional physical ticketing machines and toll booths with contactless AFC systems. The data generated by such systems is further used in implementing a data-driven network optimization approach for public transit systems.
Public transit network operators were able to capitalize on the unutilized capacity of the trains by using a data-driven model. Emerging countries in Asia Pacific, such as India and China, are also in the process of implementing similar systems to enable operators to dynamically plan and optimize ticket prices.
Further key findings from the study suggest:
- Software segment is said to register the maximum CAGR over the forecast years due to rising focus of transit system operators on deploying integrated AFC systems covering multiple transportation modes
- Near Field Communication (NFC) technology segment is anticipated to gain traction owing to its superior transaction speed, contactless payment capability, and higher adoption by transit operators
- Railways & transportation application will witness the highest CAGR from 2019 to 2025 due to the development of railway and highway infrastructure networks in emerging countries, such as India
- Asia Pacific to expand at the highest CAGR of 17.1% from 2019 to 2025 due to rapid urbanization and rising need for deploying faster payment processing systems due to increasing number of commercial vehicles and daily commuters
- Key companies in the global AFC market include Cubic Corp., Advanced Card Systems Ltd., Atos SE, Indra Sistemas SA, GMV, LG CNS, LECIP Holdings Corp., Omron Corp., Masabi Ltd., NXP Semiconductors N.V., Nippon Signal Co., Ltd., Samsung SDS Co., Ltd., Siemens AG, Telexis B.V., Singapore Technologies Engineering Limited, Scheidt & Bachmann GmbH, Thales Group, Trapeze Group, Vix Technology, UL Identity Management & Security, and Thales Group
Key Topics Covered
Chapter 1 Methodology and Scope
1.1 Objective
1.2 Research Scope
1.2.1 Segment market scope
1.2.2 Regional scope
1.2.3 Estimates & forecast timeline
1.3 Methodology
1.3.1 Model details
1.3.2 List of data sources
1.3.2.1 List of secondary sources
1.3.2.2 List of primary sources
1.3.3 List of abbreviations
Chapter 2 Executive Summary
2.1 Automated Fare Collection (AFC) - Industry Snapshot, 2014 - 2025
Chapter 3 Automated Fare Collection (AFC) Industry Outlook
3.1 Automated Fare Collection (AFC) - Value Chain Analysis
3.2 Ticketing Technology Evolution
3.3 AFC Architecture
3.4 Network Technology Overview
3.5 Automated Fare Collection (AFC) - Market Dynamics
3.5.1 Market driver analysis
3.5.1.1 Growing demand for improved transportation systems
3.5.1.2 Increasing government initiatives to support infrastructural growth
3.5.1.3 Rapidly growing demand for smartphones, e-payments, and wireless connectivity
3.5.2 Market restraint analysis
3.5.2.1 Increasing instances of project delay and funding issues
3.6 Penetration and Growth Prospect Mapping
3.7 Business Segment Trends
3.7.1 Technology business analysis
3.7.2 Component business analysis
3.7.3 System business analysis
3.7.4 Application business analysis
3.8 Automated Fare Collection (AFC) - Porter's Five Forces Analysis
3.9 Automated Fare Collection (AFC) - PESTEL Analysis
3.10 Automated Fare Collection (AFC) - List of Key End-users
3.11 Automated Fare Collection (AFC) - Case Studies
3.11.1 Sistema nico de Boleto Electronico (SUBE) card, Argentina
3.11.2 Oyster card, Greater London, U.K.
Chapter 4 Automated Fare Collection (AFC) Regulatory & Political Forces Outlook
4.1 Regulatory/Political Forces Landscape, by Region
4.1.1 North America
4.1.2 Europe
4.1.3 Asia Pacific
4.1.4 Latin America
4.1.5 Middle East & Africa
Chapter 5 Automated Fare Collection (AFC) Competitive & Vendor Outlook
5.1 Participant Categorization
5.1.1 Innovator
5.1.2 Market Leader
5.2 Strategic Initiatives & Outcome Analysis
5.2.1 List of key strategies, by company
5.2.1.1 Cubic Corporation
5.2.1.2 Omron Corporation
5.2.1.3 Thales Group
5.2.1.4 Advance Cards Systems Ltd.
5.2.1.5 Atos SE
5.3 Company Market Share Analysis
5.3.1 Vendor landscape
Chapter 6 Automated Fare Collection (AFC) Component Estimates & Trend Analysis
6.1 Automated Face Collection (AFC) Market Share By Component, 2017 & 2025
6.2 Hardware
6.3 Software
Chapter 7 Automated Fare Collection (AFC) Technology Estimates & Trend Analysis
7.1 Automated Face Collection (AFC) Market Share By Technology, 2017 & 2025
7.2 Smart Card
7.3 Magnetic Stripe
7.4 Near Field Communication (NFC)
7.5 Optical Character Recognition (OCR)
Chapter 8 Automated Fare Collection (AFC) System Estimates & Trend Analysis
8.1 Automated Face Collection (AFC) Market Share By System, 2017 & 2025
8.2 Ticket Vending Machine (TVM)
8.3 Ticket Office Machine (TOM)
8.4 Fare Gates
8.5 IC Cards
Chapter 9 Automated Fare Collection (AFC) Application Estimates & Trend Analysis
9.1 Automated Face Collection (AFC) Market Share By Application, 2017 & 2025
9.2 Railways & Transportation
9.3 Parking
9.4 Entertainment
9.5 Others
Chapter 10 Automated Fare Collection (AFC) Regional Estimates & Trend Analysis
10.1 Automated Face Collection (AFC) Market Share By Region, 2017 & 2025
10.2 North America
10.3 Europe
10.4 Asia Pacific
10.5 Latin America
10.6 MEA
Chapter 11 Company Profile
11.1 Advanced Card Systems Ltd.
11.2 Atos SE
11.3 Cubic Transportation Systems
11.4 GMV
11.5 Indra Sistemas SA
11.6 LECIP Holdings Corporation
11.7 LG Corporation
11.8 Masabi Ltd.
11.9 Nippon Signal
11.10 NXP Semiconductors N.V.
11.11 Omron Corporation
11.12 Samsung SDS Co. Ltd.
11.13 Scheidt & Bachmann GmbH
11.14 Siemens AG
11.15 Sony Corporation
11.16 Singapore Technologies Electronics Limited (ST Electronics)
11.17 Telexis B.V.
11.18 Thales Group
11.19 Trapeze Group
11.20 UL Transaction Security
11.21 Vix Technology
11.22 Thales Group
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