Market Overview:
The global automated fare collection system for bus market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for public transportation and the rising adoption of smart technologies across different regions. In terms of type, the single journey ticket segment is expected to hold a major share in the global automated fare collection system for bus market during the forecast period. This can be attributed to its low installation and maintenance cost as compared to other types of tickets such as stored value tickets and contactless cards.
Product Definition:
An automated fare collection system for buses is a system that collects fares from passengers using an electronic device, such as a smart card, instead of cash. This system is important because it speeds up the process of boarding and disembarking buses, and it also helps to reduce fare evasion.
Single Journey Ticket:
Single journey ticket is a type of smart card or plastic media used for travel purposes by passengers in buses and trams. They are also used in some metros and local trains to validate the transaction. Single journey tickets can be either paper-based or electronic, based on the implementation chosen by the manufacturer.
The single journey ticket has several benefits over conventional paper tickets including high durability, ease of use, security against frauds & counterfeits.
Stored Value Ticket:
Stored Value Ticket and it's usage in the Automated Fare Collection System for the bus market is a new concept introduced by Singapore Public Transport (SPT) Ltd. The main objective of this initiative was to increase convenience for passenger who do not possess cash or credit card to use public transport effectively.
The stored value ticketing system uses smart cards which are rechargeable and can be used on all types of buses, trains, metro stations & taxis within a designated period.
Application Insights:
The application segment is bifurcated into a subway station, parking lot and other applications. Subway stations accounted for the largest share in 2015 owing to their high usage rate. The system is installed at most of the underground stations so that passengers can board or alight without having to validate-check each ticket. Stored value tickets are widely used at these applications as they offer various advantages such as flexibility, convenience and cost-effectiveness over single journey tickets. Other than this, contactless payment technology based on RFID technology is also being increasingly used for boarding buses instead of using cash or credit cards which often results in reduced paper work for operators and reduces human errors during transactions.
Regional Analysis:
North America dominated the global market in 2017. The presence of a large number of transit agencies and growing investments in public transportation infrastructure are some factors responsible for the region’s dominance. Moreover, increasing use of stored value tickets is further driving growth across North America.
Asia Pacific is expected to be the fastest-growing regional market over the forecast period owing to rising demand for integrated transport solutions from emerging economies, such as China and India. In addition, increasing government initiatives aimed at reducing travel time by automating various processes are anticipated to drive growth across Asia Pacific during the forecast period.
Growth Factors:
- Increasing demand for public transportation: The increasing population and the subsequent increase in the number of vehicles on the road has resulted in traffic congestion and pollution. This has led to an increased demand for public transportation, which is expected to grow at a CAGR of 6% from 2016 to 2021.
- Government initiatives: Governments across the globe are investing in public transportation infrastructure, which is expected to drive the growth of AFCS market during the forecast period. For instance, In October 2015, The Ministry of Urban Development (MoUD), India announced a scheme called “Pradhan Mantri Awas Yojana” with an investment of Rs 1 trillion over five years to provide housing for all by 2022. As part of this scheme, MoUD plans to develop 100 new smart cities that will have world-class infrastructure including modern transport systems such as AFCSs.
- Technological advancements: The development of new technologies such as contactless cards and mobile wallets is aiding in the growth of AFCS market globally . For instance , In January 2017 , London’s transport authority introduced a new contactless payment system called “Contactless on Transport” that allows passengers travelling on buses, trams and trains within London Zone 1-4 to pay their fares using contactless debit or credit cards or mobile devices .
Scope Of The Report
Report Attributes
Report Details
Report Title
Automated Fare Collection System for Bus Market Research Report
By Type
Single Journey Ticket, Stored Value Ticket
By Application
Subway Station, Parking Lot, Airport, Other
By Companies
Advanced Card Systems, Cubic, Omron, Thales Group, Atos SE, LG CNS, NXP Semiconductor, Samsung SDS, Cubic Transportation Systems, GMV, Scheidt & Bachmann, Siemens, Sony Corporation, ST Electronics, Trapeze Group, Vix Technology
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
234
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Automated Fare Collection System for Bus Market Report Segments:
The global Automated Fare Collection System for Bus market is segmented on the basis of:
Types
Single Journey Ticket, Stored Value Ticket
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Subway Station, Parking Lot, Airport, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Advanced Card Systems
- Cubic
- Omron
- Thales Group
- Atos SE
- LG CNS
- NXP Semiconductor
- Samsung SDS
- Cubic Transportation Systems
- GMV
- Scheidt & Bachmann
- Siemens
- Sony Corporation
- ST Electronics
- Trapeze Group
- Vix Technology
Highlights of The Automated Fare Collection System for Bus Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Single Journey Ticket
- Stored Value Ticket
- By Application:
- Subway Station
- Parking Lot
- Airport
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Automated Fare Collection System for Bus Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
An automated fare collection system for buses is a technology that allows bus operators to collect fares from passengers without the need for a driver. The system typically includes a machine that reads the ticket and sends it to the operator, who then collects the money.
Some of the key players operating in the automated fare collection system for bus market are Advanced Card Systems, Cubic, Omron, Thales Group, Atos SE, LG CNS, NXP Semiconductor, Samsung SDS, Cubic Transportation Systems, GMV, Scheidt & Bachmann, Siemens, Sony Corporation, ST Electronics, Trapeze Group, Vix Technology.
The automated fare collection system for bus market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Automated Fare Collection System for Bus Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Automated Fare Collection System for Bus Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Automated Fare Collection System for Bus Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Automated Fare Collection System for Bus Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Automated Fare Collection System for Bus Market Size & Forecast, 2020-2028
4.5.1 Automated Fare Collection System for Bus Market Size and Y-o-Y Growth
4.5.2 Automated Fare Collection System for Bus Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Single Journey Ticket
5.2.2 Stored Value Ticket
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Subway Station
6.2.2 Parking Lot
6.2.3 Airport
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Automated Fare Collection System for Bus Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Automated Fare Collection System for Bus Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Single Journey Ticket
9.6.2 Stored Value Ticket
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Subway Station
9.10.2 Parking Lot
9.10.3 Airport
9.10.4 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Single Journey Ticket
10.6.2 Stored Value Ticket
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Subway Station
10.10.2 Parking Lot
10.10.3 Airport
10.10.4 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Single Journey Ticket
11.6.2 Stored Value Ticket
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Subway Station
11.10.2 Parking Lot
11.10.3 Airport
11.10.4 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Single Journey Ticket
12.6.2 Stored Value Ticket
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Subway Station
12.10.2 Parking Lot
12.10.3 Airport
12.10.4 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Single Journey Ticket
13.6.2 Stored Value Ticket
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Subway Station
13.10.2 Parking Lot
13.10.3 Airport
13.10.4 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Automated Fare Collection System for Bus Market: Competitive Dashboard
14.2 Global Automated Fare Collection System for Bus Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Advanced Card Systems
14.3.2 Cubic
14.3.3 Omron
14.3.4 Thales Group
14.3.5 Atos SE
14.3.6 LG CNS
14.3.7 NXP Semiconductor
14.3.8 Samsung SDS
14.3.9 Cubic Transportation Systems
14.3.10 GMV
14.3.11 Scheidt & Bachmann
14.3.12 Siemens
14.3.13 Sony Corporation
14.3.14 ST Electronics
14.3.15 Trapeze Group
14.3.16 Vix Technology
