According to Stratistics MRC, the Global Automated Fare Collection (AFC) Market is accounted for $12.35 billion in 2021 and is expected to reach $33.27 billion by 2028 growing at a CAGR of 15.2% during the forecast period.
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An automated fare collection (AFC) system is the collection of components that automate the ticketing system of a public transportation network – an automated version of manual fare collection. AFC systems are also compatible with various payment methods, such as open and closed-loop systems, mobile applications, top-ups and physical ticketing. In comparison to the traditional fare collection systems, AFCs offer various benefits, such as contactless payment, higher operational transparency and minimal risks of human error and chances of cloning, theft or missed payment.
Some of the key players profiled in the Automated Fare Collection (AFC) Market include Advanced Card Systems Holdings Limited, Cubic Corporation, Eurotech S.P.A. , NEC Corporation, Nippon Signal Co. Ltd., NXP Semiconductors N.V., Omron Corporation, Scheidt & Bachmann GmbH, Siemens AG, Sony Corporation, Thales Group, Xerox Corporation.
Components Covered:
• Central Computer System
• Hardware
• Services
• Software
• Station Computer System
• Station Equipment
Systems Covered:
• Fare Gates
• Integrated Circuit (IC) Cards
• Ticket Office Machine (TOM)
• Ticket Vending Machine (TVM)
• Validator
Service Types Covered:
• Consulting
• Managed Service
• System Implementation
• Training, Support, and Maintenance
Technology’s Covered:
• Barcodes & Magnectic Strips
• Near Field Communication (NFC)
• Optical Character Recognition (OCR)
• Smart Card
Applications Covered:
• Rail and Transport
• Parking
• Electronic Toll Collection
• Theme Park
• Urban Mass Transit
End Users Covered:
• Automotive Fuel
• Government
• Large Commercial Workplaces
• Media and Entertainment
• Public Transport Authority
• Retail
• Transportation and logistics
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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