Automated Fare Collection Market Share, Size, Price, Demand, Growth, Industry Analysis, Report, Outlook and Forecast 2022-2027

Published February 27, 2023

The new report by Expert Market Research titled, ‘Global Automated Fare Collection Market Size, Share, Demand, Report and Forecast 2023-2028’, gives an in-depth analysis of the global automated fare collection market, assessing the market based on its segments like application, service type, technology, industry and major regions.

The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

The key highlights of the report include:

Market Overview (2018-2028)

Historical Market Size (2022): USD 9.3 billion.
Forecast CAGR (2023-2028): 12.50%

Automated fare collection provides travelers access to various modes of transportation such as bus, and taxis by using tickets to pass through an automated electronic system. It offers reliable and effective payment techniques for government transport. It’s used for rail and transport, parking, and amusement park, among others.

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Automated Fare Collection Industry Definition and Major Segments

Automated fare collection may be a smart technique for the payment of conveyance systems. The worldwide automated fare collection market is often segmented into the industry, service type, application, technology, and region.

On the basis of application, the industry is divided into:

Rail and Transport
Theme Park

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On the basis of service type, the industry is divided into:

System Implementation
Training, Support & Maintenance
Managed Services

On the basis of technology, the industry is divided into:

Near-Field Communication (NFC)
Magnetic Stripes

On the basis of industry, the industry is divided into:

Transportation and Logistics
Media & Entertainment

The regional markets for automated fare collection include:

North America
Asia Pacific
Latin America
Middle East and Africa

Automated Fare Collection Market Trends

The automated fare collection market is expected to grow with the increasing government initiatives on investments in automated fare collection. The opposite factors like enjoying cashless travel facilities and reduction in environmental pollution are providing further impetus to the market. The slow growth of the industry in weaker economies owing to high installation costs might affect its penetration over the forecast period.

Key Market Players

The major players in the market are Advanced Card Systems Limited, Cubic Corporation, LG CNS, NXP Semiconductors N.V., OMRON Corporation, SAMSUNG SDS America, Inc., Scheidt & Bachmann GmbH, Thales Group, and LECIP Holdings Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

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