Summary

Automated Fare Collection System (AFCS), also known as electronic fare collection system, is an automated system that helps public transit operators to trace and account the revenue and provide a convenient way of fare payment instead of cash. Automated fare collection system is a collection of software and hardware technologies that enable ease of fare payments along with validating the passenger's commute. The global automated fare collection system market includes technologies such as smart cards, Near Field Communication (NFC), Optical Character Recognition (OCR), magnetic strips, and bar codes. Currently, smart cards are widely used to enable ease of fare payment to travelers.  
The major factors driving the growth of the market are growing trend toward contactless payments, growing urbanization, and increasing investment by government on development of public transportation system. However, factors such as high investment cost and cybersecurity challenges and security concerns hamper the growth of the market. Furthermore, development of high speed internet and 5G networks, and growing advancement in multi-modal transportation solutions offers lucrative growth opportunities for the market.  
In recent decades, advancement in cellular technology and growth in demand for high-speed internet have resulted in growing adoption of mobile based payment system. High-speed internet allows for real-time payment processing; similarly, the growth in 5G technology also allows faster boarding and reduces congestion at entry points through quick payments. 
For instance, according to Invest India, a National Investment Promotion and Facilitation Agency of India, outlines that India's telecom industry is the second largest in the world and as of September 2022, the internet subscriber base in the county accounted for 1.17 billion users, with a telecom density of 84.86%. The growth of telecom industry in the country saw exponential growth in recent years due to rollout of 3G and 4G networks, affordable tariffs and supportive government initiatives to boost the industry. Moreover, in 2022, the government announced the auction of IMT/5G spectrum, which is further expected to boost the telecom industry during the review period.  
Many other countries, especially in developing regions of southeast Asia, Latin America, and the Middle East region, are promoting high-speed internet and telecom industry. Thus, improvement of high-speed internet and communications technologies is anticipated to create growth opportunities for the automated fare collection system market during the forecast period.  
Moreover, in recent years, there has been growth in advancement in NFC and e-wallet technologies which process the payment faster and also provide security. Furthermore, many cities are integrating single payment options, which allows passengers to use a single contactless card or app to pay for multimodal transportation systems, such as buses, trains, bikes, and even parking. 
On September 10, 2024, Visa Inc. and The Bank of America Corporation announced their highest usage in contactless payments since the pandemic. The two companies announced increase in the use of digital wallets and other tap-to-pay technologies. For instance, Visa Inc.  Senior Vice President and Head of U.S. Merchant Chris Baker, along with Bank of America Managing Director and Vendor of third party and network management, Sara Walsh announced that on an average, more than 30 cities in the U.S. have contactless penetration of more than 60%. The companies also announced New York City MTA system has the highest penetration of contactless payments and the system utilizes around 75% of face-to-face and contactless transactions. Major cities around the world are supporting the use of automated fare collection systems and with the growth in contactless payment services, the market is expected to witness a strong growth rate during the forecast period.  
However, automated fare systems collect various amounts of sensitive customer information such as personal data, payment credentials, and travel patterns. This data is highly vulnerable to data breaches if the systems are not properly secured. There have been growing instances of cybercriminals exploiting these vulnerabilities to steal or misuse personal information, thus leading to privacy violations, identity theft, security concerns, and fraud. Cyber criminals utilize personal information through stolen cards and the details are further used to exploit vulnerabilities in the system’s encryption to initiate unauthorized transactions, thus leading to payment fraud. 
The key companies profiled in the report include Cubic Transportation Systems, Inc., Indra Sistemas S.A, LECIP HOLDINGS CORPORATION, Siemens AG, Thales Group, OMRON Corporation, Scheidt & Bachmann GmbH, Advanced Card Systems Ltd., Hitachi, Ltd. and NXP Semiconductors. 
Key Benefits For Stakeholders
●This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the automated fare collection system market analysis from 2023 to 2033 to identify the prevailing automated fare collection system market opportunities.
●The market research is offered along with information related to key drivers, restraints, and opportunities.
●Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
●In-depth analysis of the automated fare collection system market segmentation assists to determine the prevailing market opportunities.
●Major countries in each region are mapped according to their revenue contribution to the global market.
●Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
●The report includes the analysis of the regional as well as global automated fare collection system market trends, key players, market segments, application areas, and market growth strategies.

Additional benefits you will get with this purchase are:
● Quarterly Update and* (only available with a corporate license, on listed price)
● 5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
● Free Upcoming Version on the Purchase of Five and Enterprise User License.
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● 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
● Free data Pack on the Five and Enterprise User License. (Excel version of the report)
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Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
● Upcoming/New Entrant by Regions
● Additional company profiles with specific to client's interest
● Additional country or region analysis- market size and forecast
● SWOT Analysis
Key Market Segments
By Component
● Software
● Hardware
By Technology 
● Technology 
● Magnetic Stripe
● Near-field communication (NFC)
● Radio Frequency Identification (RFID)
● Biometrics
● Others
By End User
● Logistics
● Transportation
● Retail
● Media and Entertainment
● Others
By Region
● North America
○ U.S.
○ Canada
○ Mexico
● Europe
○ Germany
○ UK
○ France
○ Italy
○ Spain
○ Rest of Europe
● Asia-Pacific
○ China
○ Japan
○ India
○ South Korea
○ Rest of Asia-Pacific
● Middle East and Africa
○ Saudi Arabia
○ UAE
○ South Africa
○ Rest of Middle East And Africa
● Latin America
○ Brazil
○ Argentina
○ Rest of Latin America
● Key Market Players
○ Siemens AG
○ Thales
○ Omron Corporation
○ Scheidt & Bachmann GmbH
○ Hitachi, Ltd.
○ NXP Semiconductors
○ Cubic Corporation
○ LECIP HOLDINGS CORPORATION
○ Indra Sistemas
○ Advanced Card Systems Ltd.

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Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Market dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities
CHAPTER 4: AUTOMATED FARE COLLECTION SYSTEM MARKET, BY COMPONENT
4.1. Overview
4.1.1. Market size and forecast
4.2. Hardware
4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market share analysis by country
4.3. Software
4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market share analysis by country
CHAPTER 5: AUTOMATED FARE COLLECTION SYSTEM MARKET, BY TECHNOLOGY 
5.1. Overview
5.1.1. Market size and forecast
5.2. Technology 
5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market share analysis by country
5.3. Magnetic Stripe
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market share analysis by country
5.4. Near-field communication (NFC)
5.4.1. Key market trends, growth factors and opportunities
5.4.2. Market size and forecast, by region
5.4.3. Market share analysis by country
5.5. Radio Frequency Identification (RFID)
5.5.1. Key market trends, growth factors and opportunities
5.5.2. Market size and forecast, by region
5.5.3. Market share analysis by country
5.6. Biometrics
5.6.1. Key market trends, growth factors and opportunities
5.6.2. Market size and forecast, by region
5.6.3. Market share analysis by country
5.7. Others
5.7.1. Key market trends, growth factors and opportunities
5.7.2. Market size and forecast, by region
5.7.3. Market share analysis by country
CHAPTER 6: AUTOMATED FARE COLLECTION SYSTEM MARKET, BY END USER
6.1. Overview
6.1.1. Market size and forecast
6.2. Logistics
6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market share analysis by country
6.3. Transportation
6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market share analysis by country
6.4. Retail
6.4.1. Key market trends, growth factors and opportunities
6.4.2. Market size and forecast, by region
6.4.3. Market share analysis by country
6.5. Media and Entertainment
6.5.1. Key market trends, growth factors and opportunities
6.5.2. Market size and forecast, by region
6.5.3. Market share analysis by country
6.6. Others
6.6.1. Key market trends, growth factors and opportunities
6.6.2. Market size and forecast, by region
6.6.3. Market share analysis by country
CHAPTER 7: AUTOMATED FARE COLLECTION SYSTEM MARKET, BY REGION
7.1. Overview
7.1.1. Market size and forecast By Region
7.2. North America
7.2.1. Key market trends, growth factors and opportunities
7.2.2. Market size and forecast, by Component
7.2.3. Market size and forecast, by Technology 
7.2.4. Market size and forecast, by End User
7.2.5. Market size and forecast, by country
7.2.5.1. U.S.
7.2.5.1.1. Market size and forecast, by Component
7.2.5.1.2. Market size and forecast, by Technology 
7.2.5.1.3. Market size and forecast, by End User
7.2.5.2. Canada
7.2.5.2.1. Market size and forecast, by Component
7.2.5.2.2. Market size and forecast, by Technology 
7.2.5.2.3. Market size and forecast, by End User
7.2.5.3. Mexico
7.2.5.3.1. Market size and forecast, by Component
7.2.5.3.2. Market size and forecast, by Technology 
7.2.5.3.3. Market size and forecast, by End User
7.3. Europe
7.3.1. Key market trends, growth factors and opportunities
7.3.2. Market size and forecast, by Component
7.3.3. Market size and forecast, by Technology 
7.3.4. Market size and forecast, by End User
7.3.5. Market size and forecast, by country
7.3.5.1. Germany
7.3.5.1.1. Market size and forecast, by Component
7.3.5.1.2. Market size and forecast, by Technology 
7.3.5.1.3. Market size and forecast, by End User
7.3.5.2. UK
7.3.5.2.1. Market size and forecast, by Component
7.3.5.2.2. Market size and forecast, by Technology 
7.3.5.2.3. Market size and forecast, by End User
7.3.5.3. France
7.3.5.3.1. Market size and forecast, by Component
7.3.5.3.2. Market size and forecast, by Technology 
7.3.5.3.3. Market size and forecast, by End User
7.3.5.4. Italy
7.3.5.4.1. Market size and forecast, by Component
7.3.5.4.2. Market size and forecast, by Technology 
7.3.5.4.3. Market size and forecast, by End User
7.3.5.5. Spain
7.3.5.5.1. Market size and forecast, by Component
7.3.5.5.2. Market size and forecast, by Technology 
7.3.5.5.3. Market size and forecast, by End User
7.3.5.6. Rest of Europe
7.3.5.6.1. Market size and forecast, by Component
7.3.5.6.2. Market size and forecast, by Technology 
7.3.5.6.3. Market size and forecast, by End User
7.4. Asia-Pacific
7.4.1. Key market trends, growth factors and opportunities
7.4.2. Market size and forecast, by Component
7.4.3. Market size and forecast, by Technology 
7.4.4. Market size and forecast, by End User
7.4.5. Market size and forecast, by country
7.4.5.1. China
7.4.5.1.1. Market size and forecast, by Component
7.4.5.1.2. Market size and forecast, by Technology 
7.4.5.1.3. Market size and forecast, by End User
7.4.5.2. Japan
7.4.5.2.1. Market size and forecast, by Component
7.4.5.2.2. Market size and forecast, by Technology 
7.4.5.2.3. Market size and forecast, by End User
7.4.5.3. India
7.4.5.3.1. Market size and forecast, by Component
7.4.5.3.2. Market size and forecast, by Technology 
7.4.5.3.3. Market size and forecast, by End User
7.4.5.4. South Korea
7.4.5.4.1. Market size and forecast, by Component
7.4.5.4.2. Market size and forecast, by Technology 
7.4.5.4.3. Market size and forecast, by End User
7.4.5.5. Rest of Asia-Pacific
7.4.5.5.1. Market size and forecast, by Component
7.4.5.5.2. Market size and forecast, by Technology 
7.4.5.5.3. Market size and forecast, by End User
7.5. Middle East and Africa
7.5.1. Key market trends, growth factors and opportunities
7.5.2. Market size and forecast, by Component
7.5.3. Market size and forecast, by Technology 
7.5.4. Market size and forecast, by End User
7.5.5. Market size and forecast, by country
7.5.5.1. Saudi Arabia
7.5.5.1.1. Market size and forecast, by Component
7.5.5.1.2. Market size and forecast, by Technology 
7.5.5.1.3. Market size and forecast, by End User
7.5.5.2. UAE
7.5.5.2.1. Market size and forecast, by Component
7.5.5.2.2. Market size and forecast, by Technology 
7.5.5.2.3. Market size and forecast, by End User
7.5.5.3. South Africa
7.5.5.3.1. Market size and forecast, by Component
7.5.5.3.2. Market size and forecast, by Technology 
7.5.5.3.3. Market size and forecast, by End User
7.5.5.4. Rest of Middle East And Africa
7.5.5.4.1. Market size and forecast, by Component
7.5.5.4.2. Market size and forecast, by Technology 
7.5.5.4.3. Market size and forecast, by End User
7.6. Latin America
7.6.1. Key market trends, growth factors and opportunities
7.6.2. Market size and forecast, by Component
7.6.3. Market size and forecast, by Technology 
7.6.4. Market size and forecast, by End User
7.6.5. Market size and forecast, by country
7.6.5.1. Brazil
7.6.5.1.1. Market size and forecast, by Component
7.6.5.1.2. Market size and forecast, by Technology 
7.6.5.1.3. Market size and forecast, by End User
7.6.5.2. Argentina
7.6.5.2.1. Market size and forecast, by Component
7.6.5.2.2. Market size and forecast, by Technology 
7.6.5.2.3. Market size and forecast, by End User
7.6.5.3. Rest of Latin America
7.6.5.3.1. Market size and forecast, by Component
7.6.5.3.2. Market size and forecast, by Technology 
7.6.5.3.3. Market size and forecast, by End User
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product mapping of top 10 player
8.4. Competitive dashboard
8.5. Competitive heatmap
8.6. Top player positioning, 2023
CHAPTER 9: COMPANY PROFILES
9.1. Cubic Corporation
9.1.1. Company overview
9.1.2. Key executives
9.1.3. Company snapshot
9.1.4. Operating business segments
9.1.5. Product portfolio
9.1.6. Business performance
9.1.7. Key strategic moves and developments
9.2. Indra Sistemas
9.2.1. Company overview
9.2.2. Key executives
9.2.3. Company snapshot
9.2.4. Operating business segments
9.2.5. Product portfolio
9.2.6. Business performance
9.2.7. Key strategic moves and developments
9.3. LECIP HOLDINGS CORPORATION
9.3.1. Company overview
9.3.2. Key executives
9.3.3. Company snapshot
9.3.4. Operating business segments
9.3.5. Product portfolio
9.3.6. Business performance
9.3.7. Key strategic moves and developments
9.4. Siemens AG
9.4.1. Company overview
9.4.2. Key executives
9.4.3. Company snapshot
9.4.4. Operating business segments
9.4.5. Product portfolio
9.4.6. Business performance
9.4.7. Key strategic moves and developments
9.5. Thales
9.5.1. Company overview
9.5.2. Key executives
9.5.3. Company snapshot
9.5.4. Operating business segments
9.5.5. Product portfolio
9.5.6. Business performance
9.5.7. Key strategic moves and developments
9.6. Omron Corporation
9.6.1. Company overview
9.6.2. Key executives
9.6.3. Company snapshot
9.6.4. Operating business segments
9.6.5. Product portfolio
9.6.6. Business performance
9.6.7. Key strategic moves and developments
9.7. Scheidt & Bachmann GmbH
9.7.1. Company overview
9.7.2. Key executives
9.7.3. Company snapshot
9.7.4. Operating business segments
9.7.5. Product portfolio
9.7.6. Business performance
9.7.7. Key strategic moves and developments
9.8. Advanced Card Systems Ltd.
9.8.1. Company overview
9.8.2. Key executives
9.8.3. Company snapshot
9.8.4. Operating business segments
9.8.5. Product portfolio
9.8.6. Business performance
9.8.7. Key strategic moves and developments
9.9. Hitachi, Ltd.
9.9.1. Company overview
9.9.2. Key executives
9.9.3. Company snapshot
9.9.4. Operating business segments
9.9.5. Product portfolio
9.9.6. Business performance
9.9.7. Key strategic moves and developments
9.10. NXP Semiconductors
9.10.1. Company overview
9.10.2. Key executives
9.10.3. Company snapshot
9.10.4. Operating business segments
9.10.5. Product portfolio
9.10.6. Business performance
9.10.7. Key strategic moves and developments