India Automated Fare Collection Market Size & Outlook
India automated fare collection market, 2018-2030 (US$M)
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India automated fare collection market highlights
- The India automated fare collection market generated a revenue of USD 439.1 million in 2023 and is expected to reach USD 1,325.5 million by 2030.
- The India market is expected to grow at a CAGR of 17.1% from 2024 to 2030.
- In terms of segment, smart card was the largest revenue generating technology in 2023.
- Near-field communication (NFC) is the most lucrative technology segment registering the fastest growth during the forecast period.
Automated fare collection market data book summary
| Market revenue in 2023 | USD 439.1 million |
| Market revenue in 2030 | USD 1,325.5 million |
| Growth rate | 17.1% (CAGR from 2023 to 2030) |
| Largest segment | Smart card |
| Fastest growing segment | Near-field communication (NFC) |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Smart Card, Magnetic Stripe, Near-field communication (NFC), Optical Character Recognition (OCR) |
| Key market players worldwide | Atos SE, Cubic Corporation, Indra Sistemas SA ADR, Siemens AG, Thales Group, OMRON Corp, Samsung Electronics Co Ltd |
Other key industry trends
- In terms of revenue, India accounted for 3.8% of the global automated fare collection market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China automated fare collection market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,013.7 million by 2030.
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Automated Fare Collection Market Scope
Automated Fare Collection Market Companies
| Name | Profile | # Employees | HQ | Website |
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India automated fare collection market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to automated fare collection market will help companies and investors design strategic landscapes.
Smart card was the largest segment with a revenue share of 33.96% in 2023. Horizon Databook has segmented the India automated fare collection market based on smart card, magnetic stripe, near-field communication (nfc), optical character recognition (ocr) covering the revenue growth of each sub-segment from 2018 to 2030.
For instance, the National Capital Region Transport Corporation (NCRTC) and Paytm Payments Bank Limited teamed up in June 2022 to develop an AFC system for India's first Regional Rapid Transit System (RRTS) between Delhi and Meerut.
The NCRTC and Paytm would work together on this project to allow passengers to pay for their travel using contactless debit or credit cards as well as mobile wallets provided by their banks, thanks to the open-loop fare collection systems.
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Our clientele includes a mix of automated fare collection market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the India automated fare collection market , including forecasts for subscribers. This country databook contains high-level insights into India automated fare collection market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India automated fare collection market size, by technology, 2018-2030 (US$M)
India Automated Fare Collection Market Outlook Share, 2023 & 2030 (US$M)
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