The global automated fare collection system market is projected to grow at a significant CAGR during the forecast period. The contactless end-to-end solution for the collection of fare and alternate solutions for the traditional ticketing system is the automated fare collection system. The systems include ticket vending machines and ticket checking machines, automatic gate machines, and recharging terminals. It aids in providing efficiency to the fare collection and enhances overall transaction rates.

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The primary factors that drive the growth of the overall market include the supportive government initiatives that are engaged in the development of sustainable and smart transportation infrastructure. For instance, the government in UK and the Netherlands have introduced these systems to provide smart card technology for the authorities. Further, the increased use of advanced fare collection technologies such as smartcards and electronic payment systems and the growing usage of smartphones for accessing travel information applications are likely to enhance the overall growth of the market during the forecast period.

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However, some of the factors that may negatively affect the growth of the market include higher installation and maintenance costs. These systems require higher costs than the overall toll collection systems due to which there may be some delay or may decrease the adoption of these systems. Besides, the various facilities and efficiency provided by these, such as smaller queues and waiting time are the factors that are likely to provide growth opportunities for the market growth in the near future.

Market Segmentation

Global Automated Fare COLLECTION System Market by Technology
Magnetic Strip
Smart Cards
Optical Character Recognition (OCR)
Near Field Communication (NFC)
Global Automated Fare COLLECTION System Market by Application
Railway & Transport
Parking
Entertainment
Others (Toll Collection on Highways)
Regional Analysis

North America
United States
Canada
Europe
UK
Germany
Italy
Spain
France
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
Rest of the World
Company Profiles

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.
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