Global Automated Fare Collection AFC System Market Size Analysis, 2018-2028
| REPORT ID: BKR670 | Domain: ICT | Published Date: April 2018 |
The Global Automated Fare Collection – AFC System Market Size is estimated to be valued over USD 6.5 billion in 2018 and will register a CAGR of 10.3% to create high revenue opportunity for industry players during the forecast period (2018-2028).
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AFC Systems Market Size, 2018-2028
Higher emphasis on automation and effective work management in transport sector has led to boost in automated fare collection system market size. It not only improves ticketing system but also helps in better finance management by processing large sets of data in few minutes. Integration with big data is expected to create favorable market opportunity during the forecast period.
Global AFC System Market Drivers and Challenges
Automated fare collection system market size is primarily driven by faster processing customer convenience. AFC system eases out the demand for standing in queue for ticket processing – thereby saving travelers time. Technological improvement related to smart card has led high scale implementation by public transits to go for automated fare collection systems.
Various government are pushing for public transport citing environmental pollution concerns from private mode of transport. As such, there has been large scale purchase of public vehicles in last few years worldwide. As per the matter of fact, there has been increase of 3.7% in public transport in last four years. This is expected to further increase with better transport mode.
Recently, in Belgium, Brussel’s regional government approved rules to allow commuters use public transport free of cost. The decision was made in wake of rising population and making commuters habitual to public transport. Similar such initiatives related to public transport is taken all across the world. Government regulations along with need for better transaction processing and workforce management will push the demand for AFC system market worldwide.
Global AFC System Market Size and Forecast: Regional Analysis
Globally, Europe dominates the automated collection system market size. It is estimated to account for over 39% of global share in 2018 followed by North America and Asia Pacific. Companies in Europe are focusing on tapping tier-2 and rural agency system to boost their revenue. Most of the AFC system in Europe are basically installed in capital and prominent cities. However, there exists high untapped AFC market in outskirts town. Better connectivity combined with government push will boost overall implementation of AFC market in the region.
Asia Pacific will register fastest growth during the forecast period. Transportation systems represent a large share of overall government spending in China and India. Government in China and India are pushing for sustainable development of public transport. As such, high tech systems are being implemented in overall structure. Development of metro stations and BRT systems in the region will create high industry scope for AFC players. In China, over 4 million people travel everyday through BRT Systems.
Furthermore, China represents over two-fifth of total electric buses running on the road for public transport. Development in the region will skyrocket the demand for AFC in China.
Global AFC System Market Analysis, By Technology
By technology global automated fare collection system market size is segmented into smart cards, NFC, OCR, and magnetic strips. Smart cards will dominate the global share and is estimated to account for over 36% in 2018. The percent share varies from country to country. For instance, while smart card share in North America is 32%, it represents over 38% in China.
Increased processing on smart phones will led to higher adoption of NFC system worldwide. As such, it is expected to register double digit growth during the forecast period.
Global Automated Fare Collection System Market Share Analysis, By Component
Hardware system represents the major chunk of the revenue in AFC market. These systems is estimated to account for over 66% of global AFC system market share. It is primarily driven by increased sales of ticket vending machines and fare gates.
Software system will register fastest growth with the advent of big data and the rising need for analyzing the commuter record for better convenience. Few leading companies entered in partnership with government bodies to offer database management services and development kits.
Global AFC System Market Size and Forecast: Competition Landscape
Global automated collection system market outlook is highly competitive with companies trying to enter in partnership with government bodies to tap the most of the global share. Some of the key players are NXP Semiconductor, Omron Corporation, Advance Cards Systems, Cubic Systems, Thales Group, LG Corporation, Atos SE, Fare Logistics, and Samsung SDS.
Automated Fare Collection – AFC System Market Industry Segmentation
By Technology:
- Smart Cards
- NFC
- OCR
- Magnetic Strips
By Scanner Type:
- Hardware
- Ticket Vending Machines
- Automatic Gate Machines
- IC Card
- Others
- Software
What Will You Discover in the Report?
- An in-depth analysis across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
- How the AFC System market sales is expected to grow throughout the forecast period.
- How geopolitical policies and technological changes will affect the AUTOMATED FARE COLLECTION System market in near future
- Where the stakeholders should invest to generate higher profit margins
- How consumers (end-users) will reflect to the AUTOMATED FARE COLLECTION System industry during the forecast period
- Who are the AUTOMATED FARE COLLECTION System industry leaders and what are the key initiatives taken by them for long term growth
Analyst access with Bekryl Market Analysts
Purchasing of AUTOMATED FARE COLLECTION System market research report will give clients access to 120 minutes telephonic access with a research analyst. The duration for access to analysts will be based on the report subscription editions.
AFC System Market Size TOC
- Report Structure
- Research Methodology
- Market Engineering Factors Weightage
- Market Share Methodology
- Executive Summary
- Key Findings
- Market Engineering Factors
- Industry Expert Perspectives
- Market Definitions
- The Global AFC System Market Value
- Overall Market Forecast
- AFC System Growth Outlook, By Segments
- AFC System Growth Scenario, by Region
- The AFC System Industry Ecosystem
- Parent Market Overview
- Industry Value Chain
- Growth Factor Analysis
- Key Industry Players By Region
- The AFC System Industry Dynamics
- Drivers
- Challenges
- Opportunities
- Mega Trends
- Geographical Trends
- Industry Experts Views
- Merger Acquisition and Compliances, By Selected countries
- Global AFC System Industry Value and Forecast
- Introduction
- Industry Initiatives
- Industry Predictive Analysis
- AFC System Industry Segment Comparative Ranking Analysis
- Key Companies Involved and Initiatives
- Global Industry Opportunity Proposition Analysis
- Market Share Analysis, (%)
- Global AFC System Market Size and Forecast, (2017-2027)
- Market Value Forecast (US$ Million)
- Growth Analysis (Y-o-Y) and Forecast
- Global AFC System Industry Size and Forecast, By Segments
By Technology:
- Smart Cards
- NFC
- OCR
- Magnetic Strips
By Scanner Type:
- Hardware
- Ticket Vending Machines
- Automatic Gate Machines
- IC Card
- Others
- Software
- North America Industry Value and Forecast
- Introduction
- Industry Initiatives
- Bekryl Predictive Analysis
- Comparative Ranking Analysis, By Segments (As mentioned in section 10)
- Key Companies Involved and Initiatives, By Region
- Industry Value Proposition Analysis
- North America AFC System Market Analysis
- Industry Size and Forecast, (2017-2027)
- Industry Share (%)
- Industry Growth Forecast (%)
- North America AFC System Market, By Segments (As mentioned in section 10 of TOC)
- S. AFC System Market Size and Forecast, By Segments
- Canada AFC System Market Size and Forecast, By Segments
- Latin America AFC System Industry Value and Forecast
- Introduction
- Industry Initiatives
- Bekryl Predictive Analysis
- Comparative Ranking Analysis, By Segments (As mentioned in section 10)
- Key Companies Involved and Initiatives, By Region
- Industry Value Proposition Analysis, By Regional Countries
- Latin America (South America) AFC System Market Analysis
- Industry Size and Forecast, (2017-2027)
- Industry Share (%)
- Industry Growth Forecast (%)
- Latin America AFC System Market, By Segments (As mentioned in section 10 of TOC)
- Brazil AFC System Market Size and Forecast, By Segments
- Argentina
- Mexico
- Rest of Latin America
(AFC System industry analysis covered across Latin America countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)
- Western Europe AFC System Industry Value and Forecast
- Introduction
- Industry Initiatives
- Bekryl Predictive Analysis
- Comparative Ranking Analysis, By Segments (As mentioned in section 10)
- Key Companies Involved and Initiatives, By Region
- Industry Value Proposition Analysis, By Regional Countries
- Western Europe AFC System Market Analysis
- Industry Size and Forecast, (2017-2027)
- Industry Share (%)
- Industry Growth Forecast (%)
- Western Europe AFC System Market, By Segments (As mentioned in section 10 of TOC)
- Germany AFC System Market Size and Forecast, By Segments
- UK
- France
- Spain
- Italy
- NORDIC
- Switzerland
- Rest of Western Europe
(AFC System industry analysis covered across Western Europe countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)
- Central and Eastern Europe (CEE) AFC System Industry Value and Forecast
- Introduction
- Industry Initiatives
- Bekryl Predictive Analysis
- Comparative Ranking Analysis, By Segments (As mentioned in section 10)
- Key Companies Involved and Initiatives, By Region
- Industry Value Proposition Analysis, By Regional Countries
- Central and Eastern Europe AFC System Market Analysis
- Industry Size and Forecast, (2017-2027)
- Industry Share (%)
- Industry Growth Forecast (%)
- Central and Eastern Europe AFC System Market, By Segments (As mentioned in section 10 of AFC System Market TOC)
- Russia AFC System Market Size and Forecast, By Segments
- Poland
- Ukraine
- Rest of CEE
(AFC System industry analysis is covered across Central and Eastern Europe countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)
- Asia Pacific AFC System Industry Value and Forecast
- Introduction
- Industry Initiatives
- Bekryl Predictive Analysis
- Comparative Ranking Analysis, By Segments (As mentioned in section 10)
- Key Companies Involved and Initiatives, By Region
- Industry Value Proposition Analysis, By Asia Pacific Countries
- Asia Pacific AFC System Market Analysis
- Industry Size and Forecast, (2017-2027)
- Industry Share (%)
- Industry Growth Forecast (%)
- Asia Pacific AFC System Market, By Segments (As mentioned in section 10 of TOC)
- Japan AFC System Market Size and Forecast, By Segments
- China
- India
- South Korea
- Australia
- ASEAN
- Rest of Asia Pacific
(AFC System industry analysis is covered across Asia Pacific countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)
- Middle East AFC System Market Value and Forecast
- Introduction
- Industry Initiatives
- Bekryl Predictive Analysis
- Comparative Ranking Analysis, By Segments (As mentioned in section 10)
- Key Companies Involved and Initiatives, By Region
- Industry Value Proposition Analysis, By Middle East Countries
- Middle East AFC System Market Analysis
- Industry Size and Forecast, (2017-2027)
- Industry Share (%)
- Industry Growth Forecast (%)
- Middle East AFC System Market, By Segments (As mentioned in section 10 of TOC)
- GCC AFC System Market Size and Forecast, By Segments
- Israel
- Rest of Middle East
(AFC System industry analysis is covered across Middle East countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)
- Africa AFC System Market Value and Forecast
- Introduction
- Industry Initiatives
- Bekryl Predictive Analysis
- Comparative Ranking Analysis, By Segments (As mentioned in section 10)
- Key Companies Involved and Initiatives, By Region
- Industry Value Proposition Analysis, By Africa Countries
- Market Share Analysis, (%)
- Africa AFC System Industry Size and Forecast, (2017-2027)
- Africa AFC System Industry Share (%)
- Africa AFC System Industry Growth Forecast (%)
- South Africa AFC System Market Size and Forecast, By Segments
- Algeria
- Nigeria
(AFC System industry analysis is covered across Africa countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)
- AFC System Market Competitive Landscape
- Competition Dashboard
- Funding and Investment
- Company Market Positioning
- Marketing Mix Strategies
- Product Level Strategies
- Go-to-Market Strategies
- SWOT Analysis
- Key Developments, By Companies
- Company Profiles*
- NXP Semiconductor,
- Omron Corporation,
- Advance Cards Systems,
- Cubic Systems,
- Thales Group,
- LG Corporation,
- Atos SE,
- Fare Logistics,
- Samsung SDS.
- Analyst Opinion
- Summary and Conclusion
- For more Information, Bekryl can help
*(SWOT, Key Developments, and Strategies are based on individual companies)
To access the detailed AFC System industry TOC and sample research pages, download sample.
AFC System Market Report Structure
AFC System Industry Dynamics
This section enables AFC System industry stakeholders to understand the prevalent market conditions and help them prioritize their investment strategy. Factors that are favorable to AFC System market growth is equated with challenges – resulting in proper growth strategy module. Drivers and challenges provide early assessment of current AFC System industry trends and keep industry leaders abreast of latest happenings.
This section includes:
- Market Drivers
- Market Challenges
- AFC System Industry Trends
- AFC System Value Chain Analysis
- Marketing Opportunities
- Regulatory Aspects
- AFC System Industry Experts Market Opinion
Industry Analysis, By Segments
Industry stakeholders receive detailed analysis of the AFC System industry trends. Anticipate key market trends across market analysis segments with Bekryl Market Analysts model.
Each segment has research framework, essential to understand the market scenario in near future.
Each segment includes:
- Market Size and Forecast
- Annual Growth Rate Analysis (AGR)
- Key Trends, By segments
- Key Industry Developments
- Investment Proposition Analysis
- Potential Addressable Market Analysis
- Growth Factor, By Segment Analysis
This section helps in understanding the overall demand across end-users. As such, the industry stakeholders are able to minimize the operational cost and take better strategic decisions.
Competition Landscape
Keep abreast of key strategies of industry leaders and regional AFC System industry players. Company profiles allow industry stakeholders to competitor’s strategic decision and understand how these affect their own business.
This section include:
- Competition dashboard
- SWOT Analysis by Companies
- Go-to-market sales strategy
- Financial performances subject to listed companies
- Market Share Analysis
- Analyst Recommendation
Regional Market Analysis
Regional analysis help industry leaders to better understand the dynamics of their current market and determine which regional market their company should target to strengthen their market presence globally. The AFC System market report offers industry scenario in 24+ countries. Regional section focus on economic context, regulatory framework, supply demand balance trends and key regional companies engaged in the market.
This section include:
- Market Size by Country and Region
- Market Opportunity, By Country and Region
- Regional Trends
- Growth Analysis and Forecast
Country Profiles
Country profiles help industry leaders to better analyze the market at root level – thereby framing strategies that could add value to the overall organization. This section contains information pertaining to key developments and research framework mapping the potential attractive end-users. Factors are equated with macroeconomic conditions to help leaders minimize operational risks if any
North America AFC System Market Size
- S.
- Canada
Latin America AFC System Market Size
- Brazil
- Mexico
- Argentina
- Rest of Latin America
(*AFC System Market value analyzed across each Latin America country)
Western Europe AFC System Market Size
- Germany
- UK
- France
- Switzerland
- Spain
- Italy
- NORDIC
- Rest of Western Europe
(*AFC System Market value analyzed across each Western Europe country)
Central and Eastern Europe AFC System Industry Analysis
- Russia
- Poland Meat
- Ukraine Meat
- Rest of Eastern Europe
(*AFC System Market value analyzed across each Central and Eastern Europe country)
Asia Pacific AFC System Industry Size
- China
- India
- Japan
- Australia
- South Korea
- ASEAN Meat
- Rest of Asia Pacific
(*AFC System Market value analyzed across each Asia Pacific country)
Middle East AFC System Industry Size
- GCC
- Israel
- Rest of Middle East
(*AFC System Market value analyzed across each Middle East country)
Africa AFC System Industry Size
- South Africa
- Algeria
- Nigeria
- Rest of Africa
AFC System Market Research Methodology
Bekryl Market Analysts has earned reputation within the market research and consulting industry for its ability to not only collect and reprint data but also its ability to build upon its extensive models and databases to provide meaningful forecasting and strategic planning services to clients.
Our research analyst and industry experts thoroughly investigates the industry by extensively interviewing the industry leaders and analyzing information from various secondary sources. The information collected is analyzed with the help of analytical tools to offer real time forecast solutions.
AFC System Market Growth Forecasting Methodology
In order to prepare historical data and analyze AFC System market forecast, Bekryl prepare data for product supply and actual demand from end-use consumers. Through this, we get to know actual demand for AFC System market globally. The data collection is done through secondary and primary market research and then a constructive model is developed.
- Secondary market research involves data collection through various paid publications and government agencies. Various journals and pre-encrypt transcripts is decoded to get the real time data solutions
- The data collected through secondary research is then validated with the industry experts to minimize the anomaly and reflect key stakeholders opinion in the report.
With the model constructed, the cluttered data collected through different sources is structured with the help of proprietary analytical tools – making us understand the variation happened in the current year compared to historical years. To forecast AFC System market revenue, Bekryl Market Analysts takes in consideration the demand growth of the segments. Demand for the product is dependent on end-user spending which is a function of many factors: amongst them macroeconomic strength, price variation and other base factors.
The forecast methodology requires extensive data analysis across countries. Among all the factors, GVA and GDP output is considered as the first set of approximation. Bekryl Market Analysts has developed a demand driven model based on GDP across targeted countries. Under this, co-relation is analyzed between product and GDP – resulting in a constant GDP-Product coefficient. Higher the coefficient- greater will be the growth rate. For instance, GDP-Product segment coefficient matrix of 3 denotes AFC System industry growth is nearly 3.5X to 5.5X higher than the relative GDP.
Besides GDP-Product Coefficient, Bekryl establishes following relation variation for higher predictive analysis.
- Base Factors Growth Analysis
- Price Variation Analysis
- Potential Consumer Mapping
AFC System Industry Players: Competition Landscape Methodology
Bekryl maps key market players across regions. Financial ratios is taken in consideration along with regional presence and their value chain to understand the company market strength. Thereafter, investment proposition for each company is proposed which gives coefficient matrix value for the company. Industry experts is also reflected in company landscape.
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