Global Smart Cards Automated Fare Collection Systems Market Research Report 2023(Status and Outlook)
Report Overview
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.
The Global Smart Cards Automated Fare Collection Systems Market Size was estimated at USD 1351.5 million in 2022 and is projected to reach USD 2439.04 million by 2029, exhibiting a CAGR of 8.80% during the forecast period.
Bosson Research’s latest report provides a deep insight into the global Smart Cards Automated Fare Collection Systems market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc.
The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Smart Cards Automated Fare Collection Systems Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.
In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Smart Cards Automated Fare Collection Systems market in any manner.
Global Smart Cards Automated Fare Collection Systems Market: Market Segmentation Analysis
The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.
Key Company
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 Segmentation (by Type)
Farebox
Ticket Vending Machines (TVM)
Validator
Market Segmentation (by Application)
Paints & Coatings
Agro Chemicals
Rubber & Resin
Printing Inks
Industrial Cleaning
Others
Geographic Segmentation
North America (USA, Canada, Mexico)
Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
South America (Brazil, Argentina, Columbia, Rest of South America)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)
Key Benefits of This Market Research:
Industry drivers, restraints, and opportunities covered in the study
Neutral perspective on the market performance
Recent industry trends and developments
Competitive landscape & strategies of key players
Potential & niche segments and regions exhibiting promising growth covered
Historical, current, and projected market size, in terms of value
In-depth analysis of the Smart Cards Automated Fare Collection Systems Market
Overview of the regional outlook of the Smart Cards Automated Fare Collection Systems Market:
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