Automated Fare Collection System Market by Application (Bus, Toll, Train, and Car Rental), Component (Hardware, and Software & Services), Technology Platform (Smart Card, Near Field Communications, Optical Character Recognition (OCR), and Others (Magnetic Strips and Bar Codes): Global Opportunity Analysis and Industry Forecast, 2019â€“2026
Automated Fare Collection System (AFCS), also known as electronic fare collection system, is an automated system that helps public transit operators to trace and account the revenue and provide a convenient way of fare payment instead of cash. The global automated fare collection system market includes technologies such as smart cards, Near Field Communication (NFC), Optical Character Recognition (OCR), magnetic strips, and bar codes.
Currently, smart cards are widely used to enable ease of fare payment to travelers. This report analyzes the global market on the basis of component, technology, application, and region. By region, the market is segmented across North America, Europe, Asia-Pacific, and Latin America, the Middle East, and Africa (LAMEA). This report uses value chain analysis and Porter’s Five Forces Model to analyze the competitive scenario of the industry and adding values to the final product.
Further, report features the strategies adopted by the key market players to endure the stiff competition in the market. Atos SE, Cubic Transportation Systems, Inc., dormakaba Holding, LECIP Group, LG CNS, NXP Semiconductors, OMRON Corporation, Samsung SDS, Scheidt & Bacchhan Gmbh, and Thales Group are some of the leading suppliers of AFCS in the global market.
The global automated fare collection system market includes components such as hardware, including Ticket Vending Machines (TVMs), turnstiles, Booking Office Machines (BOMs), validators, and software including back office, passenger information, validating the identity, and signaling. The market is classified on the basis of the type of component, technology, application, and region.
Key players operating in the market include Atos SE, Cubic Transportation Systems, Inc., dormakaba Holding, LECIP Group, LG CNS, NXP Semiconductors, OMRON Corporation, Samsung SDS, Scheidt & Bacchhan Gmbh, and Thales Group.
KEY BENEFITS FOR STAKEHOLDERS
This study comprises analytical depiction of the automated fare collection system market with current trends and future estimations to depict the imminent investment pockets.
The overall market potential is determined to understand the profitable trends to gain a stronger coverage in the market.
The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
The current market is quantitatively analyzed from 2018 to 2026 to highlight the financial competency of the market.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers.
KEY MARKET SEGMENTS
Software & Services
By Technology Platform
Near Field Communications
Optical Character Recognition (OCR)
Others (Magnetic Strips and Bar Codes)
Rest of Europe
Rest of Asia-Pacific
Key Market Players
Cubic Transportation Systems, Inc.
Scheidt & Bacchhan Gmbh
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