Automated Fare Collection Market Global Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2021 to 2027

The Global Automated Fare Collection Market size was valued at USD 8.15 billion in 2018 and is projected to expand at a CAGR of 13% from 2021 to 2027.

Automated toll collection systems are a contactless, end-to-end solution for collecting fare payments and replacing traditional ticketing systems with automated ticketing. It consists of an automatic gate machine, ticket vending machine, filling terminal, and ticket confirmation machine. The system increases fare collection efficiency, improves overall transaction rates, and saves a lot of time, minimizing waiting times in queues and retrieving cash to purchase tickets. It’s also an easy way to collect revenue. Travelers can carry one card that can be used for all modes of transport.

Market Segments

By Application

• Bus
• Toll
• Train
• Car Rental

By Component

• Hardware
• Software

By Technology Platform

• Smart Card
• Optical Character Recognition (OCR)
• Near Field Communications
• Others (Magnetic Strips and Bar Codes)

Key Players

Some of the important players in the Automated Fare Collection System Market are Advanced Card Systems Holdings Limited, Atos SE, Cubic Corporation, GMV, Thales Group, Vix Technology, Singapore Technologies Electronics Limited, Scheidt & Bachmann GmbH, Samsung SDS Co. Ltd., and LG Corporation among others.

Scope of the Report

The research study analyzes the global Automated Fare Collection industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:

Recent Developments

o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

Geographic Coverage

o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

Key Questions Answered by Automated Fare Collection Market Report

1. What was the Automated Fare Collection Market size in 2019 and 2020; what are the estimated growth trends and market forecast (2021-2027).

2. What will be the CAGR of the Automated Fare Collection Market during the forecast period (2021-2027)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2021? How these segments are expected to grow during the forecast period (2021-2027).
4. Which manufacturer/vendor/players in the Automated Fare Collection Market was the market leader in 2020?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.