Smart Cards Automated Fare Collection Systems Market 2018-2023: Analysed by Business Growth, Development Factors, Applications, and Future Prospects

Smart Cards Automated Fare Collection Systems

Global Smart Cards Automated Fare Collection Systems Market report on title “Global (North America, Europe, Asia-Pacific, South America, Middle East and Africa) Smart Cards Automated Fare Collection Systems Market 2018, Forecast to 2023”. This research report provides a comprehensive in detailed with analyses of market revenue, growth, share, and up-to-date market type analysis along with applications and regions. The global Smart Cards Automated Fare Collection Systems industry status, overview, insights and driving the demand with professional survey with forecast. This report has been used to estimate the market size analysis to validate it in the overall Smart Cards Automated Fare Collection Systems Market. According to the industry research, the global Smart Cards Automated Fare Collection Systems industries is expected to accelerate at a CAGR of nearly XX.X% until Forecast 2023. Further, the report expresses that one of the main considerations of this market is the increasing expense of raw materials.

Overview of the Smart Cards Automated Fare Collection Systems Market

Automatic Fare Collection System (AFC) is a contactless smartcard-based end-to-end solution for fare collection and payment. The state-of-the-art solution is uniquely designed with the demand of revenue services for modern transit operation in mind. Furthermore, with the advent of smartcard technology and proliferation of its business applications, AFC also enables transit operators to expand revenue opportunities, exploit the benefits of payment integration with other transit operators as well as non-transit service providers., AFC System consists of Central Computer System, Station Computer System and Station Equipment. , Central Computer System, Central Computer System is the AFC management center which is responsible for generating reports, receiving ticketing data from station computer, sending control command, downloading system parameter and ticket price list to station computer., Station Computer System, The primary role of the Station Computer is to provide the usage data collection, downloading of fare related parameters to the AFC equipment; control, monitoring and management of the AFC equipment. Its secondary role is to provide the station reports (if required) and support the sales office and customer service. It is able to function independently should there be a failure in the communication link with the central computer., Station Equipment, These are all the front-end equipment/devices, which are used to serve the commuter. These consist of Ticket Vending Machines, Fare Gates, Booking Office Machines, Mobile and Hand-Held Terminals and Ticket Recharging Machines etc. Typically the requirement for each implementation may vary in terms of the quantity of the equipment/devices., Smart Cards, Smart Cards generally support faster and more flexible fare collection systems. Contactless or Proximity Smart Cards permit faster processing times than magnetic stripe cards or contact smart cards. They also facilitate processing of differentiated fare structures such as time-based and distance-based fare structures and fare integration across several modes and operators. A hybrid or “dual-interface” smart card can expand the application of smart cards beyond transit., This report focus on the Station Equipment (terminal equipment) of Smart Cards Automated Fare Collection System.,

Global Smart Cards Automated Fare Collection Systems Market Key Players:

  • Cubic Corporation, The Nippon Signal, Omron Corporation, Scheidt & Bachmann, Thales Group, INIT, Huaming, Xerox, GFI Genfare, LECIP, Shanghai Potevio Company Limited, Gunnebo, GMV, Huahong Jitong, GRG Banking,.

market for Smart Cards Automated Fare Collection Systems is expected to grow at a CAGR of roughly 9.6% over the next five years, will reach 1510 million US$ in 2023, from 870 million US$ in 2017, according to a new study.,

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Major classifications are as follows:

  • Farebox
  • Ticket Vending Machines (TVM)
  • Validator

Major applications are as follows:

  • Off-Board
  • On-Board

Scope of the Smart Cards Automated Fare Collection Systems Market Report: This report focuses on the Smart Cards Automated Fare Collection Systems in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application., Of the major players of Smart Cards Automated Fare Collection Systems, Cubic Corporation maintained its first place in the ranking in 2017. Cubic Corporation accounted for 21.39% of the Global Smart Cards Automated Fare Collection Systems revenue market share in 2017. Other players accounted for 13.00 % and 12.41 %, including The Nippon Signal and Omron Corporation., On the basis of product type, the Validator segment is projected to account for the largest revenue share during the forecast period; this segment was estimated to account for 83.74 % revenue share in 2017., In the applications, the Off-Board segment was estimated to account for the highest revenue share of 93.51% in 2017 and is expected to gain significant market share by the end of 2025., The worldwide market for Smart Cards Automated Fare Collection Systems is expected to grow at a CAGR of roughly 9.6% over the next five years, will reach 1510 million US$ in 2023, from 870 million US$ in 2017, according to a new study.,

Region Segmentation:

  • North America (USA, Canada and Mexico)
  • Europe (Germany, France, UK, Russia and Italy)
  • Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
  • South America (Brazil, Argentina, Columbia etc.)
  • Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Report Coverage:

  • Smart Cards Automated Fare Collection Systems market report provides comprehensive analysis of the market with the help of up-to-date market opportunities, overview, outlook, challenges, trends, market dynamics, size and growth, competitive analysis, major competitors analysis.
  • Report recognizes the key drivers of growth and challenges of the key industry players. Also, evaluates the future impact of the propellants and limits on the market.
  • Uncovers potential demands in the market.
  • Smart Cards Automated Fare Collection Systems market report provides in-depth analysis for changing competitive dynamics
  • Provides information on the historical and current market size and the future potential of the market.

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Key questions answered in the report:

  • What will the market growth rate of Smart Cards Automated Fare Collection Systems market in 2023?
  • What are the key factors driving the global Smart Cards Automated Fare Collection Systems market?
  • Who are the key manufacturers in Smart Cards Automated Fare Collection Systems market space?
  • What are the market opportunities, market risk and market overview of the Smart Cards Automated Fare Collection Systems market?
  • What are sales, revenue, and price analysis by types and applications of Smart Cards Automated Fare Collection Systems market?
  • What are sales, revenue, and price analysis by regions of Smart Cards Automated Fare Collection Systems industry?

The next part also sheds light on the gap between supply and consumption. Apart from the mentioned information, growth rate of Smart Cards Automated Fare Collection Systems market in 2022 is also explained. Additionally, type wise and application wise consumption tables and figures of Smart Cards Automated Fare Collection Systems market are also given.