Market Overview:
The global OCR 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 adoption of OCR technology for fare collection in public transportation systems across the globe. Additionally, the growing demand for smart and contactless payment methods is also propelling the growth of this market. The ticket vending machine (TVM) segment is expected to hold a major share of the global OCR automated fare collection system market during the forecast period. This can be attributed to their growing popularity among transit authorities as they offer several advantages such as easy installation, low maintenance cost, and reduced fraud rates as compared to other types of machines such as gate (entry/exit ticket machines) and EMV machines. In terms of application, buses are expected to account for a major share of the global OCR automated fare collection system market during the forecast period. This can be attributed to factors such as rising urbanization and population density across emerging economies coupled with increasing investments by transit authorities in bus-based transportation systems.
Product Definition:
An automated fare collection system (AFCS) is a type of transit ticketing system which automates the process of collecting fares from passengers. Automated fare collection systems are used in many public transportation systems, including buses, trams, light rail, metros, and ferries.
The main advantage of an AFCS is that it speeds up the process of boarding and alighting from a vehicle. Passengers simply need to scan their tickets or passes instead of having to fumble for coins or paper tickets.
Ticket Vending Machine (TVM):
Ticket vending machine, commonly known as TVM is a self-service ticketing system. It is an automated device that sells railway tickets and other transportation passes. The global market for TVM was estimated to be over USD 1 billion in 2015 and is expected to grow at a CAGR of XX% from 2016 to 2024.
Gate (Entry/Exit Ticket Machines):
The gate (entry/exit ticket machines) is an automated machine for buying tickets. It helps in reducing the waiting time at the station and also helps in increasing passenger convenience. The main objective of installing a gate is to eliminate or reduce human interference, which can help in improving customer satisfaction level and also can help in revenue growth by reducing transaction time.
There are different types of gates used such as automatic, semi-automatic, manual.
Application Insights:
The train application segment dominated the global OCR AFC system market in 2017, accounting for over 60.0% share of the overall revenue. The high share is attributable to factors such as a well-developed railway infrastructure and an extensive rail network covering various cities across China, Japan, South Korea, Australia and New Zealand. Moreover, increasing passenger traffic on railways owing to growing urbanization along with rising disposable income levels has boosted the demand for automated fare collection systems on trains significantly.
In addition to trains, these systems are also used on buses; however their usage is limited to specific areas or routes where there are high incidences of fare evasion or improper boarding by passengers without valid tickets. Henceforth introduction of these systems at bus stands will help curb illegalities while ensuring proper payment processing at both ends thus leading to increased adoption across all major applications including metros and trams in future years.
Regional Analysis:
North America dominated the global market in terms of revenue share in 2017. The U.S., which is at the forefront, has a well-established transport infrastructure and an increasing number of smart card users owing to various government initiatives such as “Cashless Communities†and “Millionaire Migrationâ€. These initiatives have resulted in increased penetration of OCR systems across all modes of transport including buses, trams, metros and trains for collecting fares as well as for validating tickets/ passes/tickets.
The Asia Pacific regional market is anticipated to witness significant growth over the forecast period owing to rising investments by governments across countries such as India, China Japan among others for improving public transportation facilities through installation of various fare collection systems that include gate turnstiles & exit turnstiles along with ticket vending machines (TVM).
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 OCR Automated Fare Collection System market.
- Government initiatives: Governments across different countries are investing in public transportation infrastructure, which is expected to drive the growth of the OCR Automated Fare Collection System market. For instance, In October 2017, India announced a plan to invest Rs 1 trillion (~ billion) in its railway infrastructure over five years.
- Technological advancements: The OCR Automated Fare Collection System market is witnessing rapid technological advancements with respect to features such as contactless payments and mobile ticketing that are making fare collection easier and faster for passengers. This is expected to fuel demand for these systems over the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
OCR Automated Fare Collection System Market Research Report
By Type
Ticket Vending Machine (TVM), Gate (Entry/Exit Ticket Machines), EMV, Others
By Application
Bus, Train, Metro, Other
By Companies
Cubic Transportation, GMV, Kvsio, GRGBanking, Genfare, Avail Technologies, Magnadata International, ...
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
247
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global OCR Automated Fare Collection System Market Report Segments:
The global OCR Automated Fare Collection System market is segmented on the basis of:
Types
Ticket Vending Machine (TVM), Gate (Entry/Exit Ticket Machines), EMV, Others
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
Bus, Train, Metro, 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:
- Cubic Transportation
- GMV
- Kvsio
- GRGBanking
- Genfare
- Avail Technologies
- Magnadata International
- ...
Highlights of The OCR 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:
- Ticket Vending Machine (TVM)
- Gate (Entry/Exit Ticket Machines)
- EMV
- Others
- By Application:
- Bus
- Train
- Metro
- 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 OCR 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?
OCR Automated Fare Collection System is a system that collects fares from passengers using an automated fare collection machine.
Some of the major players in the ocr automated fare collection system market are Cubic Transportation, GMV, Kvsio, GRGBanking, Genfare, Avail Technologies, Magnadata International.
The ocr automated fare collection system market is expected to grow at a compound annual growth rate of 6.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. OCR Automated Fare Collection System Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. OCR Automated Fare Collection System Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. OCR Automated Fare Collection System Market - Supply Chain
4.5. Global OCR Automated Fare Collection System Market Forecast
4.5.1. OCR Automated Fare Collection System Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. OCR Automated Fare Collection System Market Size (000 Units) and Y-o-Y Growth
4.5.3. OCR Automated Fare Collection System Market Absolute $ Opportunity
5. Global OCR Automated Fare Collection System Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. OCR Automated Fare Collection System Market Size and Volume Forecast by Type
5.3.1. Ticket Vending Machine (TVM)
5.3.2. Gate (Entry/Exit Ticket Machines)
5.3.3. EMV
5.3.4. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global OCR Automated Fare Collection System Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. OCR Automated Fare Collection System Market Size and Volume Forecast by Application
6.3.1. Bus
6.3.2. Train
6.3.3. Metro
6.3.4. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global OCR Automated Fare Collection System Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. OCR Automated Fare Collection System Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global OCR Automated Fare Collection System Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. OCR Automated Fare Collection System Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global OCR Automated Fare Collection System Demand Share Forecast, 2019-2029
9. North America OCR Automated Fare Collection System Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America OCR Automated Fare Collection System Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America OCR Automated Fare Collection System Market Size and Volume Forecast by Application
9.4.1. Bus
9.4.2. Train
9.4.3. Metro
9.4.4. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America OCR Automated Fare Collection System Market Size and Volume Forecast by Type
9.7.1. Ticket Vending Machine (TVM)
9.7.2. Gate (Entry/Exit Ticket Machines)
9.7.3. EMV
9.7.4. Others
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America OCR Automated Fare Collection System Demand Share Forecast, 2019-2029
10. Latin America OCR Automated Fare Collection System Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America OCR Automated Fare Collection System Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America OCR Automated Fare Collection System Market Size and Volume Forecast by Application
10.4.1. Bus
10.4.2. Train
10.4.3. Metro
10.4.4. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America OCR Automated Fare Collection System Market Size and Volume Forecast by Type
10.7.1. Ticket Vending Machine (TVM)
10.7.2. Gate (Entry/Exit Ticket Machines)
10.7.3. EMV
10.7.4. Others
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America OCR Automated Fare Collection System Demand Share Forecast, 2019-2029
11. Europe OCR Automated Fare Collection System Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe OCR Automated Fare Collection System Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe OCR Automated Fare Collection System Market Size and Volume Forecast by Application
11.4.1. Bus
11.4.2. Train
11.4.3. Metro
11.4.4. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe OCR Automated Fare Collection System Market Size and Volume Forecast by Type
11.7.1. Ticket Vending Mahine (TVM)
11.7.2. Gate (Entry/Exit Ticket Machines)
11.7.3. EMV
11.7.4. Others
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe OCR Automated Fare Collection System Demand Share, 2019-2029
12. Asia Pacific OCR Automated Fare Collection System Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific OCR Automated Fare Collection System Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific OCR Automated Fare Collection System Market Size and Volume Forecast by Application
12.4.1. Bus
12.4.2. Train
12.4.3. Metro
12.4.4. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific OCR Automated Fare Collection System Market Size and Volume Forecast by Type
12.7.1. Ticket Vending Machine (TVM)
12.7.2. Gate (Entry/Exit Ticket Machines)
12.7.3. EMV
12.7.4. Others
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific OCR Automated Fare Collection System Demand Share, 2019-2029
13. Middle East & Africa OCR Automated Fare Collection System Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa OCR Automated Fare Collection System Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa OCR Automated Fare Collection System Market Size and Volume Forecast by Application
13.4.1. Bus
13.4.2. Train
13.4.3. Metro
13.4.4. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa OCR Automated Fare Collection System Market Size and Volume Forecast by Type
13.7.1. Ticket Vending Machine (TVM)
13.7.2. Gate (Entry/Exit Ticket Machines)
13.7.3. EMV
13.7.4. Others
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa OCR Automated Fare Collection System Demand Share, 2019-2029
14. Competition Landscape
14.1. Global OCR Automated Fare Collection System Market: Market Share Analysis
14.2. OCR Automated Fare Collection System Distributors and Customers
14.3. OCR Automated Fare Collection System Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Cubic Transportation
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. GMV
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Kvsio
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. GRGBanking
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Genfare
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Avail Technologies
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Magnadata International
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. ...
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
