Automated fare collection Market Share, Size, Trends, Industry Analysis Report, By Component (Hardware, Software); By Technology; By System; By Application; By Region; Segment Forecast, 2023 - 2032

The global automated fare collection market size is expected to reach USD 50.47 billion by 2034, according to a new study by Polaris Market Research. The report “Automated fare collection Market Share, Size, Trends, Industry Analysis Report, By Component (Hardware, Software), By Technology, By System, By Application, and By Region -Segment Forecast, 2025 - 2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Increasing demand for efficient and reliable transportation services globally has been a significant growth driver for the market. The implementation of AFC systems in various transportation modes, including buses, trains, and subways, has enhanced passenger experience and improved operational efficiency. Moreover, the rising focus on reducing traffic congestion, enhancing passenger safety and security, and improving overall transportation infrastructure has led to the adoption of AFC systems by transportation authorities and agencies. For instance, In May 2022, Indra Sistemas made an announcement stating that they will design, develop, and supply ticketing systems, access control systems, and automatic ticket vending machines for the Cairo monorail in Egypt. The technology employed will include contactless cards and QR codes, and the system will seamlessly integrate with mobile phones.

The integration of advanced technologies, such as electronic payment systems, smart cards, and contactless payment, has also facilitated the implementation of AFC systems in transportation and logistics, contributing to the market's growth. These technologies have made the payment process more convenient and secure for passengers, resulting in an increase in the adoption of AFC systems. Furthermore, the integration of these technologies has enabled transportation authorities to collect data on passenger travel patterns, enabling them to optimize their services and improve overall transportation efficiency.

Automated fare collection Market Report Highlights

The hardware segment registered for the largest market share owing to its necessary physical components like ticket vending machines, gates, and validators.

The smart card segment held significant market share due to its ability to offer a convenient, secure, and reliable payment method for commuters.

The ticket vending machine (TVM) segment had a substantial market share due to the increasing demand for TVMs in various transportation networks, such as airports, railways, and bus stations

North America dominated the global market in 2024 due to the region's well-established transportation infrastructure and high adoption of advanced technologies.

The global players GMV, LECIP Holdings Corporation, Thales Group, Omron Corporation, Samsung SDS.

Polaris Market Research has segmented the automated fare collection market report based on component, technology, system, application and region:

Automated fare collection, Component Outlook (Revenue - USD Billion, 2020 - 2034)

Hardware

Software

Automated fare collection, Technology Outlook (Revenue - USD Billion, 2020 - 2034)

Smart Card

Magnetic Strip

Near-field communication (NFC)

Optical character recognition (OCR)

Automated fare collection, System Outlook (Revenue - USD Billion, 2020 - 2034)

Ticket vending machine

Ticket office machine

Fare gates

IC Cards

Automated fare collection, Application Outlook (Revenue - USD Billion, 2020 - 2034)

Railways & Transportation

Parking

Entertainment

Others (Government Retail)

Automated fare collection, Regional Outlook (Revenue - USD Billion, 2020 - 2034)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa Show more