Market Overview:
The global smart cards automated fare collection system market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for smart cards in public transportation systems across the globe. In addition, the growing adoption of contactless payments is also contributing to the growth of this market. On-board AFC equipment held a major share of the global smart cards automated fare collection system market in 2017 and is expected to maintain its dominance during the forecast period. This can be attributed to factors such as rising demand for NFC-enabled smartphones and growing adoption of transit apps that allow users to pay fares using their phones.
Product Definition:
A smart card is a plastic card that contains an embedded integrated circuit. The term "smart card" is also used to refer to any type of pocket-sized card that incorporates an electronic chip, such as a bankcard, identity card, or driver's license.
An automated fare collection system (AFCS) uses smart cards as tickets for public transportation systems such as buses and subways. Riders use the cards to enter the transit system and then tap them against readers placed at the entrances and exits of stations and on board buses. The readers communicate with computers installed in transit vehicles or stations, which deduct the appropriate fare from the value stored on each rider's card.
Farebox:
Farebox is a term used for machines that collect money from passengers using smart cards. The machine scans the card and determines the fare. It may also be used to top up the value of an Oyster Card or pay-as-you-go Travelcard. These systems are in place in various cities around the world, including London, New York City, Hong Kong and Paris among others.
Ticket Vending Machines (TVM):
Ticket vending machines (TVM) are used in the smart cards automated fare collection system. They are also known as ticket dispensing machines, ticket counters or just plain vending machines. These devices play a significant role in managing and processing passenger traffic at transportation facilities such as railway stations, airports etc.
The global market for TVMs is expected to witness substantial growth over the forecast period owing to increasing demand for cashless transactions.
Application Insights:
On-board AFC equipment segment dominated the global smart cards automated fare collection system market in 2017. This can be attributed to the increasing use of these systems on trains, subways and buses across various regions. The growing popularity of this technology is also a key factor driving the demand for these systems as they help in reducing human errors while processing transactions and also increase operational efficiency.
The off-board AFC equipment segment is expected to witness lucrative growth over the forecast period owing to its ability to process more than one transaction at a time with less waiting time as compared with on-board AFC equipment. Moreover, off-board automatic Fare Collection (AFC) systems are installed at railway stations which enables passengers board/ alight from trains without having any money or travel ticket necessary remaining valid for both boarding and alighting passengers respectively. Such factors are expected to drive demand over the forecast period thereby propelling growth of this market during future years too.
Regional Analysis:
North America dominated the global market in terms of revenue share in 2017. The region is expected to continue its dominance over the forecast period owing to presence of well-established transit systems and rapid growth of smart card technology. Asia Pacific is projected to be the fastest-growing regional market from 2018 to 2030 due to increasing government initiatives for implementation of AFC systems, growing adoption by mass transit operators, and rising investments by industry players for development new products with advanced features. Moreover, increasing use cases such as fare payment at railway stations are anticipated drive regional demand over the forecast period.
The European region accounted for a significant share in terms of both volume and revenue in 2017 on account high usage rates observed at metro/subway stations and buses across major cities including London, Paris, Rome among others.
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 focus on public transportation, which is expected to drive the growth of the smart cards automated fare collection system market.
- Government initiatives: Governments across different countries are investing in smart card-based AFC systems as a part of their efforts to improve public transportation infrastructure and services. For instance, India’s Ministry of Urban Development launched a scheme called “Swachh Bharat Abhiyan” (Clean India Mission) with an objective to make all cities in India open defecation free by 2019. As a part of this initiative, all state governments have been directed to install AFC systems at all bus stops and railway stations by March 2019. This is expected to drive significant growth for the smart cards automated fare collection system market over the next few years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Smart Cards Automated Fare Collection System Market Research Report
By Type
Farebox, Ticket Vending Machines (TVM), Validator
By Application
On-board AFC Equipment, Off-board AFC Equipment
By Companies
Advanced Card Systems Holdings Limited, Omron Corporation, Thales Group, Atos SE, LG CNS, NXP Semiconductor, Samsung SDS, Cubic Transportation Systems, GMV, INIT, Scheidt & Bachmann, Siemens, Sony Corporation, ST Electronics, GFI Genfare, LECIP, Xerox, 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
250
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Smart Cards Automated Fare Collection System Market Report Segments:
The global Smart Cards Automated Fare Collection System market is segmented on the basis of:
Types
Farebox, Ticket Vending Machines (TVM), Validator
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
On-board AFC Equipment, Off-board AFC Equipment
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 Holdings Limited
- Omron Corporation
- Thales Group
- Atos SE
- LG CNS
- NXP Semiconductor
- Samsung SDS
- Cubic Transportation Systems
- GMV
- INIT
- Scheidt & Bachmann
- Siemens
- Sony Corporation
- ST Electronics
- GFI Genfare
- LECIP
- Xerox
- Trapeze Group
- Vix Technology
Highlights of The Smart Cards Automated Fare Collection System 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:
- Farebox
- Ticket Vending Machines (TVM)
- Validator
- By Application:
- On-board AFC Equipment
- Off-board AFC Equipment
- 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 Smart Cards Automated Fare Collection System 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?
Smart Cards Automated Fare Collection System is a fare collection system that uses smart cards to allow passengers to board and exit buses, trains, and ferries without having to remove their ticket or pass. The smart cards are equipped with an embedded microchip that stores the passenger's identification information, including their bus/train/ferry ticket number. When the passenger taps their card against the reader on the bus/train/ferry gate, the microchip inside of the card transmits this information to a nearby computer. This computer then updates its records with this new information and sends a signal back through the reader instructing it to open up the gate for boarding.
Some of the major companies in the smart cards automated fare collection system market are Advanced Card Systems Holdings Limited, Omron Corporation, Thales Group, Atos SE, LG CNS, NXP Semiconductor, Samsung SDS, Cubic Transportation Systems, GMV, INIT, Scheidt & Bachmann, Siemens, Sony Corporation, ST Electronics, GFI Genfare, LECIP, Xerox, Trapeze Group, Vix Technology.
The smart cards automated fare collection system market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Smart Cards Automated Fare Collection System 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 Smart Cards Automated Fare Collection System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Smart Cards Automated Fare Collection System 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 Smart Cards Automated Fare Collection System 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 Smart Cards Automated Fare Collection System Market Size & Forecast, 2018-2028
4.5.1 Smart Cards Automated Fare Collection System Market Size and Y-o-Y Growth
4.5.2 Smart Cards Automated Fare Collection System Market Absolute $ Opportunity
Chapter 5 Global Smart Cards Automated Fare Collection System 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 Smart Cards Automated Fare Collection System Market Size Forecast by Type
5.2.1 Farebox
5.2.2 Ticket Vending Machines (TVM)
5.2.3 Validator
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Smart Cards Automated Fare Collection System 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 Smart Cards Automated Fare Collection System Market Size Forecast by Applications
6.2.1 On-board AFC Equipment
6.2.2 Off-board AFC Equipment
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Smart Cards Automated Fare Collection System 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 Smart Cards Automated Fare Collection System 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 Smart Cards Automated Fare Collection System Analysis and Forecast
9.1 Introduction
9.2 North America Smart Cards Automated Fare Collection System 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 Smart Cards Automated Fare Collection System Market Size Forecast by Type
9.6.1 Farebox
9.6.2 Ticket Vending Machines (TVM)
9.6.3 Validator
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 Smart Cards Automated Fare Collection System Market Size Forecast by Applications
9.10.1 On-board AFC Equipment
9.10.2 Off-board AFC Equipment
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 Smart Cards Automated Fare Collection System Analysis and Forecast
10.1 Introduction
10.2 Europe Smart Cards Automated Fare Collection System 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 Smart Cards Automated Fare Collection System Market Size Forecast by Type
10.6.1 Farebox
10.6.2 Ticket Vending Machines (TVM)
10.6.3 Validator
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 Smart Cards Automated Fare Collection System Market Size Forecast by Applications
10.10.1 On-board AFC Equipment
10.10.2 Off-board AFC Equipment
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 Smart Cards Automated Fare Collection System Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Smart Cards Automated Fare Collection System 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 Smart Cards Automated Fare Collection System Market Size Forecast by Type
11.6.1 Farebox
11.6.2 Ticket Vending Machines (TVM)
11.6.3 Validator
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 Smart Cards Automated Fare Collection System Market Size Forecast by Applications
11.10.1 On-board AFC Equipment
11.10.2 Off-board AFC Equipment
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 Smart Cards Automated Fare Collection System Analysis and Forecast
12.1 Introduction
12.2 Latin America Smart Cards Automated Fare Collection System 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 Smart Cards Automated Fare Collection System Market Size Forecast by Type
12.6.1 Farebox
12.6.2 Ticket Vending Machines (TVM)
12.6.3 Validator
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 Smart Cards Automated Fare Collection System Market Size Forecast by Applications
12.10.1 On-board AFC Equipment
12.10.2 Off-board AFC Equipment
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) Smart Cards Automated Fare Collection System Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Smart Cards Automated Fare Collection System 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) Smart Cards Automated Fare Collection System Market Size Forecast by Type
13.6.1 Farebox
13.6.2 Ticket Vending Machines (TVM)
13.6.3 Validator
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) Smart Cards Automated Fare Collection System Market Size Forecast by Applications
13.10.1 On-board AFC Equipment
13.10.2 Off-board AFC Equipment
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 Smart Cards Automated Fare Collection System Market: Competitive Dashboard
14.2 Global Smart Cards Automated Fare Collection System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Advanced Card Systems Holdings Limited
14.3.2 Omron Corporation
14.3.3 Thales Group
14.3.4 Atos SE
14.3.5 LG CNS
14.3.6 NXP Semiconductor
14.3.7 Samsung SDS
14.3.8 Cubic Transportation Systems
14.3.9 GMV
14.3.10 INIT
14.3.11 Scheidt & Bachmann
14.3.12 Siemens
14.3.13 Sony Corporation
14.3.14 ST Electronics
14.3.15 GFI Genfare
14.3.16 LECIP
14.3.17 Xerox
14.3.18 Trapeze Group
14.3.19 Vix Technology
