Global Automated Fare Collection (AFC) Market Growth 2023-2029

Global Automated Fare Collection (AFC) Market Growth 2023-2029

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.

LPI (LP Information)' newest research report, the “Automated Fare Collection (AFC) Industry Forecast” looks at past sales and reviews total world Automated Fare Collection (AFC) sales in 2022, providing a comprehensive analysis by region and market sector of projected Automated Fare Collection (AFC) sales for 2023 through 2029. With Automated Fare Collection (AFC) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Automated Fare Collection (AFC) industry.

This Insight Report provides a comprehensive analysis of the global Automated Fare Collection (AFC) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Automated Fare Collection (AFC) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Automated Fare Collection (AFC) market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Automated Fare Collection (AFC) and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Automated Fare Collection (AFC).

The global Automated Fare Collection (AFC) market size is projected to grow from US$ 7327.9 million in 2022 to US$ 12370 million in 2029; it is expected to grow at a CAGR of 12370 from 2023 to 2029.

The European market segment leads the overall AFC industry in the world segmented by regional areas and is closely followed by the North American market owing to a developed transportation infrastructure. In coming years, the Asia-Pacific market is expected to grow the fastest with the increasing demand from developing countries like China and India.

This report presents a comprehensive overview, market shares, and growth opportunities of Automated Fare Collection (AFC) market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Hardware
Software

Segmentation by application
Government Buildings
Large Commercial Workplaces
Public Transport Ports

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Cubic Systems
Omron Corporation
Thales Group
Advance Cards Systems
Atos SE
Fare Logistics
LG Corporation
NXP Semiconductor
Samsung SDS

Key Questions Addressed in this Report

What is the 10-year outlook for the global Automated Fare Collection (AFC) market?

What factors are driving Automated Fare Collection (AFC) market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Automated Fare Collection (AFC) market opportunities vary by end market size?

How does Automated Fare Collection (AFC) break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.