North America Automated Fare Collection Market Size & Outlook
North America automated fare collection market, 2018-2030 (US$M)
Related Markets
North America automated fare collection market highlights
- The North America automated fare collection market generated a revenue of USD 3,663.0 million in 2023.
- The market is expected to grow at a CAGR of 12.8% 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.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 3,663.0 million |
| Market revenue in 2030 | USD 8,518.7 million |
| Growth rate | 12.8% (CAGR from 2023 to 2030) |
| Largest segment | Smart card |
| Fastest growing segment | Near-field communication (NFC) |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, North America region accounted for 31.9% of the global automated fare collection market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 7,796.9 million by 2030.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Automated Fare Collection Market Scope
Automated Fare Collection Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
North America 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 33.17% in 2023. Horizon Databook has segmented the North America 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.
Handy DART is a shared ride service designed for individuals requiring assistance to use conventional public transportation due to physical or cognitive disabilities. Plans envisaged Cubic Corporation supplying the necessary equipment to enable Handy DART users to use the same payment methods as the users of the conventional system do.
Plans also envisaged ‘Tap to Pay’ options, including contactless credit cards and mobile phone purchases, being made available to allow electronic authentication of Compass card products. The growth of the market can be attributed to the growing number of companies expanding their operations in various parts of North America.
For instance, in April 2021, Cubic Corporation announced that the company’s Cubic Transportation Systems business division is expanding the incumbent Compass AFC system to include Handy DART, Metro Vancouver's 347-vehicle paratransit system.
Reasons to subscribe to North America automated fare collection market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of North America automated fare collection market databook
-
Our clientele includes a mix of automated fare collection market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the North America automated fare collection market , including forecasts for subscribers. This continent databook contains high-level insights into North America automated fare collection market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
North America automated fare collection market size, by country, 2018-2030 (US$M)
North America Automated Fare Collection Market Outlook Share, 2023 & 2030 (US$M)
Related industry reports
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
