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Automated Fare Collection (AFC) System Market Sales, Price, Revenue, Gross Margin and Share 2023

A detailed overview of Automated Fare Collection (AFC) System market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Automated Fare Collection (AFC) System market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

Growing preference for integrated ticketing and electronic payments will drive AFC system market size in the coming years. A core component of the Intelligent Transportation System (ITS) market, this technology is expected to witness growth due to increased transport infrastructure developments globally.

Positive regulatory landscape is also forecast to impel automated fare collection system market growth. Fraud prevention, improved revenue management and transport service planning capabilities are among the key benefits of implementation. Considerable advancements in communications technology and proliferation of personal mobile devices such as smartphones and tablets will favorably impact the industry. This trend is particularly prevalent in Asia Pacific, with China AFC system market size forecast to surpass USD 700 million by 2023.

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Automated Fare Collection (AFC) System Market size is expected to reach USD 9.84 billion by 2023; as per a new research report

Automated Fare Collection (AFC) System Market Sales, Price, Revenue, Gross Margin and Share 2023
Automated Fare Collection (AFC) System Market Sales, Price, Revenue, Gross Margin and Share 2023

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Smart cards accounted for over 30% of the global revenue in 2015. These products are portable, more cost effective to manufacture than competing segments, and present low degree of complexity. It works on the premise of an embedded microchip that can write and process data in a protected environment, and can be contact-based or contactless in nature.

Key insights from the report include:

The industry is technology-driven, with continued efforts for enhancing information safety. NFC automated fare collection system market share is set to grow at 12.3% CAGR estimations from 2016 to 2023. In addition to facilitating automated connections, the technology also provides an improved user experience. NFC can be used from point-to-point to pay-as-you-go schemes and offers multiple payment options.

Major hardware includes booking office machines, Ticket Vending Machines (TVM), handheld and mobile terminals, fare gates, etc. The segment is expected to grow at 10.3% CAGR from 2016 to 2023.

Based on the usage location, these products can be categorized into on-board and off-board equipment. Consumables include proximity cards, flash pass, ticket personalization equipment, etc.

Major Highlights from Table of contents are listed below for quick lookup into Automated Fare Collection (AFC) System Market report

Chapter 1. Competitive Landscape

  • Company market share
  • Automated Fare Collection (AFC) System Market Competitive analysis of key market players
  • Competitive analysis of other prominent vendors

Chapter 2. Company Profiles

  • Business Overview
  • Financial Data
  • Product portfolio
  • Strategic Outlook
  • SWOT Analysis

Chapter 3. Methodology & Scope

  • Methodology
  • Initial data exploration
  • Automated Fare Collection (AFC) System Market Statistical model and forecast
  • Industry insights and validation
  • Automated Fare Collection (AFC) System Market Scope
  • Definition
  • Methodology and forecast parameters
  • Data Sources

Chapter 4. Executive Summary

  • Automated Fare Collection (AFC) System industry 360º synopsis - 2025
  • Automated Fare Collection (AFC) System Business trends
  • Region trends

Chapter 5. Automated Fare Collection (AFC) System industry Insights

  • Automated Fare Collection (AFC) System Industry segmentation
  • Industry landscape 2025
  • Industry Pitfalls and Challenges
  • Threat of new entrants
  • Threat of substitutes
  • Automated Fare Collection (AFC) System Market Growth potential analysis

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