Europe Automated Fare Collection System Market Forecasting Impressive Growth at a CAGR of Almost 11% between 2021 and 2028
DUBLIN, July 8, 2021 /PRNewswire/ -- The "Europe Automated Fare Collection System Market 2021-2028" report has been added to ResearchAndMarkets.com's offering.
MARKET OUTLOOK
As per this research on the automated fare collection system market in Europe, it is estimated that the market would register growth at a compound annual growth rate of 10.93% during the years 2021-2028. The United Kingdom, Italy, Spain, France, Russia, Germany, and the Rest of Europe form the region's market.
The Paris transport travel card in France permits unlimited travel on bus, metro, tramway, and RER networks. This enables commuters to travel across the city without facing challenges with payments during the journey. Additionally, Navigo Easy, a new prepaid travel card, aims to reduce paper coupon metro tickets across the city. Here, the easy ticket card, along with cards for tourists, will assist in contactless and easy payments. Hence, the growing adoption of smart cards will widen the scope and growth of the automated fare collection system market across France over the forecast period.
On the other hand, Metrobus Card is a monthly or annual subscription card valid for unlimited trips on public transport networks across the city of Rome in Spain. Here, commuters can recharge the cards with a monthly balance across any retail outlets equipped with POS. Additionally, the Province of Bolzano has set up an electronic ticketing system on all public transport networks, which supports easy payment and travel across all modes of transport. Thus, these factors are likely to open new avenues for the automated fare collection system market within Spain in the upcoming years.
COMPETITIVE OUTLOOK
Some of the prominent companies in the automated fare collection system market are Cubic Transportation Systems Inc, Atos SE, Scheidt & Bachmann GmbH, Lecip Holdings Corporation, and Omron Corporation.
Key Topics Covered:
1. Europe Automated Fare Collection System Market - Summary
2. Industry Outlook
2.1. Market Scope
2.2. Key Insights
2.2.1. Train Transport Systems Prominently Apply the Automated Fare Collection System
2.2.2. Smart Card is a Majorly Utilized Technology in the Automated Fare Collection System Market
2.2.3. Hardware Segment is Gaining Momentum in the Market
2.3. Porter's Five Forces Analysis
2.3.1. Threat of New Entrants
2.3.2. Threat of Substitute
2.3.3. Bargaining Power of Suppliers
2.3.4. Bargaining Power of Buyers
2.3.5. Intensity of Competitive Rivalry
2.4. Market Attractiveness Index
2.5. Vendor Scorecard
2.6. Market Drivers
2.6.1. Reduction in Frauds and Counterfeiting
2.6.2. Growing Use of Smartphones
2.6.3. Flexible Fare Plans
2.6.4. Growing Need for Efficiency
2.7. Market Restraints
2.7.1. High Capital Investment
2.7.2. Incomplete Projects Due to Delay and Funding Shortfall
2.8. Market Opportunities
2.8.1. Infrastructural Upgradation
2.8.2. Growing Preference for Contactless Payment
2.9. Key Strategic Developments
2.9.1. Merger & Acquisitions
2.9.2. Product Launch & Developments
2.9.3. Partnership, Contract/Agreement, & Collaboration
2.9.4. Business Expansion
2.10. Value Chain Analysis
2.11. Impact of Coronavirus on Automated Fare Collection Market
3. Europe Automated Fare Collection System Market Outlook - by Component
3.1. Hardware Component
3.1.1. Validators
3.1.2. Turnstiles
3.1.3. Ticket Vending Machines
3.1.4. Other Hardware Components
3.2. Software
4. Europe Automated Fare Collection System Market Outlook - by Application
4.1. Bus
4.2. Train
4.3. Toll
4.4. Car
5. Europe Automated Fare Collection System Market Outlook - by Technology
5.1. Smart Card
5.2. Ocr (Optical Character Recognition)
5.3. Nfc (Near Field Communication)
5.4. Other Technologies
6. Automated Fare Collection System Market - Europe
6.1. United Kingdom
6.2. Germany
6.3. France
6.4. Spain
6.5. Italy
6.6. Russia
6.7. Rest of Europe
7. Competitive Landscape
8. Research Methodology & Scope
Companies Mentioned
- LG Cns
- Omron Corporation
- Samsung Sds
- Scheidt & Bachmann GmbH
- Cubic Transportation Systems Inc
- Atos Se
- Dormakaba Holding
- Lecip Holdings Corporation
- NXP Semiconductors
- Thales Group
For more information about this report visit https://www.researchandmarkets.com/r/3t8ph
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