Smart Cards Automated Fare Collection Systems Market

The global Smart Cards Automated Fare Collection Systems market was valued at 82.03 Million USD in 2021 and will grow with a CAGR of 9.17% from 2021 to 2027, based on Research newly published report.
The prime objective of Smart Cards Automated Fare Collection Systems Market is to provide the insights on the post COVID-19 impact wwhich will help market players in this field evaluate their business approaches. Also, Smart Cards Automated Fare Collection Systems Market covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).
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. Smart Cards Automated Fare Collection Systems Market focus on the Station Equipment (terminal equipment) of Smart Cards Automated Fare Collection System. 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.

By Market Verdors:

• 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

By Types:

• Farebox
• Ticket Vending Machines (TVM)
• Validator

By Applications:

• Off-Board
• On-Board

Key Indicators Analysed

• Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the market?s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.
• Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.
• Market Trends: Market key trends which include Increased Competition and Continuous Innovations.
• Opportunities and Drivers: Identifying the Growing Demands and New Technology
• Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.

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• To understand the most affecting driving and restraining forces in the market and its impact in the global market.
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• To understand the future outlook and prospects for the market.
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