In this report, LP Information covers the present scenario (with the base year being 2017) and the growth prospects of global Smart Cards Automated Fare Collection Systems market for 2018-2023.
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.
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 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.
Of the major players of Smart Cards Automated Fare Collection Systems, Cubic Corporation maintained its first place in the ranking in 2017. Cubic Corporation accounted for 21.39% of the Global Smart Cards Automated Fare Collection Systems revenue market share in 2017. Other players accounted for 13.00 % and 12.41 %, including The Nippon Signal and Omron Corporation.
On the basis of product type, the Validator segment is projected to account for the largest revenue share during the forecast period; this segment was estimated to account for 83.74 % revenue share in 2017.
In the applications, the Off-Board segment was estimated to account for the highest revenue share of 93.51% in 2017 and is expected to gain significant market share by the end of 2025.
Over the next five years, LPI(LP Information) projects that Smart Cards Automated Fare Collection Systems will register a 9.6% CAGR in terms of revenue, reach US$ 1510 million by 2023, from US$ 870 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Smart Cards Automated Fare Collection Systems market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
Ticket Vending Machines (TVM)
Segmentation by application:
This report also splits the market by region:
Middle East & Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
The Nippon Signal
Scheidt & Bachmann
Shanghai Potevio Company Limited
In addition, this report discusses the key drivers influencing market growth