Global Automatic Fare Collection (AFC) Systems Market Research Report by Application (Rail and transport, Parking applications, Theme park applications, others), by Service Type (Consulting, System implementation, Training, support, and maintenance, Managed service) by Vertical (Transportation and logistics, Government, Media and entertainment, Retail, Others), by Technology Type (Near field commu
Report ID : QR1001363 | Industries : Semiconductors and Electronics | Published On :January 2022 | Page Count : 234Global Automatic Fare Collection (AFC) Systems Market
The global Automatic Fare Collection (AFC) Systems market was valued at USD 6,639.10 million in 2020 which expected to reach USD 12,753.75 million by 2027 at a CAGR 11.6 % from 2020-2027.
An automated fare collection (AFC) system is a collection of components that automate a public transportation network's ticketing system - an automated version of manual fare collection. Typically, an AFC system serves as the foundation for integrated ticketing.
Market Drivers
The advantages of a cashless travel facility
The AFC system provides the option of cashless travel by directly debiting the driver/bank owner's account for the services used by the owner. This gives them the freedom and convenience to travel whenever and wherever they want without having to carry cash with them.
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Market Restraint
Expensive installation
The high installation cost is one of the major factors limiting the growth of the AFC system market. The installation of an AFC system is more expensive than that of other toll collection systems, such as manual tolling. The system also necessitates extensive maintenance, which adds to the costs. Expenses are compensated in the traditional method by either a tax payment on fuel or rubber or a budget allocation from national income.
Impact of COVID-19
In the current COVID-19 health crisis, unprecedented times necessitate innovative solutions, and the payments technology industry provides numerous opportunities for people to support one another as well as communities in a safe and effective manner with little to no physical contact. The major impact of COVID-19 impact analysis is felt by public mobility, as people are advised to stay at home and work from home whenever possible.
Market Segmentation
The Global Automatic Fare Collection (AFC) Systems Market is segmented into Application, Service Type Vertical, and Technology Type. Based on the Vertical, the market is segmented into Rail and transport, Parking applications, Theme park applications, others. Further, market is segmented into The Technology Type, the market is segmented into near field communication, Magnetic stripes, others. By Service Type, the market is segmented into Consulting, System implementation, Training, support, and maintenance, Managed service)
Regional Analysis
Global Automatic Fare Collection (AFC) Systems Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific has the largest market share and the increasing government support for the development of transit systems to improve public transportation in the region is attributed to the growth of the Asia Pacific AFC system market. For example, the Kuala Lumpur government introduced Bus Rapid Transit (BRT) service in Sunway in June 2015 to alleviate traffic congestion in the area. The market is gaining traction as these systems become more widely used in public transportation, particularly the metro. For example, in June 2015, the metro authorities in Delhi (India) installed 210 new AFC gates in key stations such as Huda City Center Station and Nehru Place Station to ensure a smooth flow of passengers.
Key Players
Various key players are listed in this report such as Thales Group, Omron Corporation, Advance Card Systems, Samsung, GMV, Scheidt & Bachmann, Sony Corporation, Vix Technology, LG Corporation, and Fare Logistics.
Market Taxonomy
By Application
- Rail and transport
- Parking applications
- Theme park applications
- Others
By Service Type
- Consulting
- System implementation
- Training, support, and maintenance
- Managed service
By Vertical
- Transportation and logistics
- Government
- Media and entertainment
- Retail
- Others
By Technology Type
- Near field communication
- Magnetic stripes
- Others
By Region
- North America
- Latin America
- Europe
- China
- Asia Pacific
- Middle East & Africa
Key Questions Addressed by the Report
- What are the Key Opportunities in Global Automatic Fare Collection (AFC) Systems Market?
- What will be the growth rate from 2020 to 2027?
- Which segment/region will have highest growth?
- What are the factors that will impact/drive the Market?
- What is the competitive Landscape in the Industry?
- What is the role of key players in the value chain?
Global Automatic Fare Collection (AFC) Systems Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Automatic Fare Collection (AFC) Systems Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Automatic Fare Collection (AFC) Systems Market, By Application
5.1 Y-o-Y Growth Comparison, By Application
5.2 Global Automatic Fare Collection (AFC) Systems Market Share Analysis, By Application
5.3 Global Automatic Fare Collection (AFC) Systems Market Size and Forecast, By Application
5.3.1 Rail and transport
5.3.2 Parking applications
5.3.3 Theme park applications
5.3.4 Others
6 Global Automatic Fare Collection (AFC) Systems Market, By Service Type
6.1 Y-o-Y Growth Comparison, By Service Type
6.2 Global Automatic Fare Collection (AFC) Systems Market Share Analysis, By Service Type
6.3 Global Automatic Fare Collection (AFC) Systems Market Size and Forecast, By Service Type
6.3.1 Consulting
6.3.2 System implementation
6.3.3 Training, support, and maintenance
6.3.4 Managed service
7 Global Automatic Fare Collection (AFC) Systems Market, By Vertical
7.1 Y-o-Y Growth Comparison, By Vertical
7.2 Global Automatic Fare Collection (AFC) Systems Market Share Analysis, By Vertical
7.3 Global Automatic Fare Collection (AFC) Systems Market Size and Forecast, By Vertical
7.3.1 Transportation and logistics
7.3.2 Government
7.3.3 Media and entertainment
7.3.4 Retail
7.3.5Others
8 Global Automatic Fare Collection (AFC) Systems Market, By Technology Type
8.1 Y-O-Y Growth Comparison, By Technology Type
8.2 Global Automatic Fare Collection (AFC) Systems Market Share Analysis, By Technology Type
8.3 Global Automatic Fare Collection (AFC) Systems Market Size and Forecast, By Technology Type
8.3.1 near field communication
8.3.2 Magnetic stripes
8.3.3 Others
9 Global Automatic Fare Collection (AFC) Systems Market, By Region
9.1 Global Automatic Fare Collection (AFC) Systems Market Share Analysis, By Region
9.2 Global Automatic Fare Collection (AFC) Systems Market Share Analysis, By Region
9.3 Global Automatic Fare Collection (AFC) Systems Market Size and Forecast, By Region
10 North America Automatic Fare Collection (AFC) Systems Market Analysis and Forecast (2021-2027)
10.1 Introduction
10.2 North America Automatic Fare Collection (AFC) Systems Market Share Analysis, By Application
10.3 North America Automatic Fare Collection (AFC) Systems Market Size and Forecast, By Service Type
10.4 North America Automatic Fare Collection (AFC) Systems Market Size and Forecast, By Vertical
10.5 North America Automatic Fare Collection (AFC) Systems Market Size and Forecast, By Technology Type
10.6 North America Automatic Fare Collection (AFC) Systems Market Size and Forecast, By Country
10.7.1 U.S.
10.7.2 Canada
10.7.3 Mexico
11 Europe Automatic Fare Collection (AFC) Systems Market Analysis and Forecast (2021-2027)
11.1 Introduction
11.2 Europe Automatic Fare Collection (AFC) Systems Market Share Analysis, By Application
11.3 Europe Automatic Fare Collection (AFC) Systems Market Size and Forecast, By Service Type
11.4 Europe Automatic Fare Collection (AFC) Systems Market Size and Forecast, By Vertical
11.5 Europe Automatic Fare Collection (AFC) Systems Market Size and Forecast, By Technology Type
11.6 Europe Automatic Fare Collection (AFC) Systems Market Size and Forecast, By Country
11.6.1 Germany
11.6.2 France
11.6.3 UK
11.6.4. Rest of Europe
12 Asia Pacific Automatic Fare Collection (AFC) Systems Market Analysis and Forecast (2021-2027)
12.1 Introduction
12.2 Asia Pacific Automatic Fare Collection (AFC) Systems Market Share Analysis, By Application
12.3 Asia Pacific Automatic Fare Collection (AFC) Systems Market Size and Forecast, By Service Type
12.4 Asia Pacific Automatic Fare Collection (AFC) Systems Market Size and Forecast, By Vertical
12.5 Asia Pacific Automatic Fare Collection (AFC) Systems Market Size and Forecast, By Technology Type
12.6 Asia Pacific Automatic Fare Collection (AFC) Systems Market Size and Forecast, By Country
12.6.1 China
12.7.2 Japan
12.8.3 India
12.9.4. Rest of Asia Pacific
13 Latin America Automatic Fare Collection (AFC) Systems Market Analysis and Forecast (2021-2027)
13.1 Introduction
13.2 Latin America Automatic Fare Collection (AFC) Systems Market Share Analysis, By Application
13.3 Latin America Automatic Fare Collection (AFC) Systems Market Size and Forecast, By Service Type
13.4 Latin America Automatic Fare Collection (AFC) Systems Market Size and Forecast, By Vertical
13.5 Latin America Automatic Fare Collection (AFC) Systems Market Size and Forecast, By Technology Type
13.6 Latin America Automatic Fare Collection (AFC) Systems Market Size and Forecast, Country
13.7.1. Brazil
13.8.2. Rest of Latin America
14 Middle East Automatic Fare Collection (AFC) Systems Market Analysis and Forecast (2021-2027)
14.1 Introduction
14.2 Middle East Automatic Fare Collection (AFC) Systems Market Share Analysis, By Application
14.3 Middle East Automatic Fare Collection (AFC) Systems Market Size and Forecast, By Service Type
14.4 Middle East Automatic Fare Collection (AFC) Systems Market Size and Forecast, By Vertical
14.5 Middle East Automatic Fare Collection (AFC) Systems Market Size and Forecast, By Technology Type
14.6 Middle East Automatic Fare Collection (AFC) Systems Market Size and Forecast, By Country
14.7.1. Saudi Arabia
14.8.2. UAE
14.9.3. Egypt
14.10.4. Kuwait
14.11.5. South Africa
15Competitive Analysis
15.1 Competition Dashboard
15.2 Market share Analysis of Top Vendors
15.3 Key Development Strategies
16 Company Profiles
16.1 Thales Group
16.1.1 Overview
16.1.2 Offerings
16.1.3 Key Financials
16.1.4 Business Segment & Geographic Overview
16.1.5 Key Market Developments
16.1.6 Key Strategies
16.2. Omron Corporation
16.2.1 Overview
16.2.2 Offerings
16.2.3 Key Financials
16.2.4 Business Segment & Geographic Overview
16.2.5 Key Market Developments
16.2.6 Key Strategies
16.3. Advance Card Systems
16.3.1 Overview
16.3.2 Offerings
16.3.3 Key Financials
16.3.4 Business Segment & Geographic Overview
16.3.5 Key Market Developments
16.3.6 Key Strategies
16.4 Samsung
16.4.1 Overview
16.4.2 Offerings
16.4.3 Key Financials
16.4.4 Business Segment & Geographic Overview
16.4.5 Key Market Developments
16.4.6 Key Strategies
16.5 GMV
16.5.1 Overview
16.5.2 Offerings
16.5.3 Key Financials
16.5.4 Business Segment & Geographic Overview
16.5.5 Key Market Developments
16.5.6 Key Strategies
16.6 Scheidt & Bachmann
16.6.1 Overview
16.6.2 Offerings
16.6.3 Key Financials
16.6.4 Business Segment & Geographic Overview
16.6.5 Key Market Developments
16.6.6 Key Strategies
16.7 Sony Corporation
16.7.1 Overview
16.7.2 Offerings
16.7.3 Key Financials
16.7.4 Business Segment & Geographic Overview
16.7.5 Key Market Developments
16.7.6 Key Strategies
16.8 Vix Technology
16.8.1 Overview
16.8.2 Offerings
16.8.3 Key Financials
16.8.4 Business Segment & Geographic Overview
16.8.5 Key Market Developments
16.8.6 Key Strategies
16.9 LG Corporation
16.9.1 Overview
16.9.2 Offerings
16.9.3 Key Financials
16.9.4 Business Segment & Geographic Overview
16.9.5 Key Market Developments
16.9.6 Key Strategies
16.10 Fare Logistics
16.10.1 Overview
16.10.2 Offerings
16.10.3 Key Financials
16.10.4 Business Segment & Geographic Overview
16.10.5 Key Market Developments
16.10.6 Key Strategies