Global Automated Fare Collection System Market Size, Share & Trends Analysis Report by Technology (Magnetic Strip, Smart Cards, Optical Character Recognition (OCR), and Near Field Communication (NFC)), By Application (Railway & Transport, Parking, Entertainment, and Others), and Forecast 2019-2025.
The global automated fare collection system market is projected to grow at a significant CAGR during the forecast period. The primary factors that drive the growth of the market include the increased utilization of plastic money, real-time payments, and digital payment gateways, such as debit card, credit card, along with the Near Field Communication (NFC) payment options. These factors altogether are expected to enhance the growth of the market during the forecast period. These systems are rapidly replacing the conventional ticketing systems, and owing to their various benefits it possesses, such as better process management, revenue generation, financial fraud prevention, and superior system planning; there has been an increase in the adoption of such systems across the globe.
The global automated fare collection system market is segmented on the basis of technology and application. Based on the technology, the market is segmented into the magnetic strip, smart cards, optical character recognition (OCR), and near field communication (NFC). Further, based on the application, the market is segmented into railway & transport, parking, entertainment, and others such as toll collection. Railway & transport segment to contribute a prominent share to the market.
Further, Advanced Card Systems Ltd., NEC Corp., Nippon Signal Co. Ltd., NXP Semiconductors NV, Scheidt & Bachmann GmbH, Thales Group, and Xerox Corp. are some of the prominent players operating in the global automated fare collection system market. New product launches & developments, partnerships, agreements, and acquisitions are some of the growth strategies adopted by the players to sustain in the highly competitive market.
Research Methodology
The market study of the global automated fare collection system market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The team collects facts and data related to the market from different geography to provide a better regional outlook.
In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of the reports.
Secondary sources include:
Market Segmentation:
1. Global Automated Fare Collection System Market Research and Analysis by Technology
2. Global Automated Fare Collection System Market Research and Analysis by Application
The Report covers:
The global automated fare collection system market is projected to grow at a significant CAGR during the forecast period. The primary factors that drive the growth of the market include the increased utilization of plastic money, real-time payments, and digital payment gateways, such as debit card, credit card, along with the Near Field Communication (NFC) payment options. These factors altogether are expected to enhance the growth of the market during the forecast period. These systems are rapidly replacing the conventional ticketing systems, and owing to their various benefits it possesses, such as better process management, revenue generation, financial fraud prevention, and superior system planning; there has been an increase in the adoption of such systems across the globe.
The global automated fare collection system market is segmented on the basis of technology and application. Based on the technology, the market is segmented into the magnetic strip, smart cards, optical character recognition (OCR), and near field communication (NFC). Further, based on the application, the market is segmented into railway & transport, parking, entertainment, and others such as toll collection. Railway & transport segment to contribute a prominent share to the market.
Further, Advanced Card Systems Ltd., NEC Corp., Nippon Signal Co. Ltd., NXP Semiconductors NV, Scheidt & Bachmann GmbH, Thales Group, and Xerox Corp. are some of the prominent players operating in the global automated fare collection system market. New product launches & developments, partnerships, agreements, and acquisitions are some of the growth strategies adopted by the players to sustain in the highly competitive market.
Research Methodology
The market study of the global automated fare collection system market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The team collects facts and data related to the market from different geography to provide a better regional outlook.
In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of the reports.
Secondary sources include:
- Financial reports of companies involved in the market
- Whitepapers, research-papers, and news blogs
- Company websites and their product catalog
Market Segmentation:
1. Global Automated Fare Collection System Market Research and Analysis by Technology
2. Global Automated Fare Collection System Market Research and Analysis by Application
The Report covers:
- Comprehensive research methodology of the global Automated Fare Collection System Market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global Automated Fare Collection System Market.
- Insights about market determinants which are stimulating the global Automated Fare Collection System Market.
- Detailed and extensive market segments with regional distribution of forecast revenues.
- Extensive profiles and recent developments of the market players.
Table of Contents
1. Report Summary
2. Market Overview and Insights
3. Competitive Landscape
4. Market Determinants
5. Market Segmentation
6. Regional Analysis
7. Company Profiles
Companies Mentioned
A selection of companies mentioned in this report includes:
- Advanced Card Systems Ltd.
- Advantech Co. Ltd.
- Atos SE
- Cubic Corp.
- Eurotech Group
- GMV Group
- LECIP Holdings Corp.
- Mikroelektronika spol. s r.o.
- NEC Corp.
- Nippon Signal Co. Ltd.
- NXP Semiconductors NV
- Scheidt & Bachmann GmbH
- Smartrac Technology GmbH
- SWARCO AG
- Telexis B.V.,
- Thales Group
- Trapeze Group
- Xerox Corp.
