U.S. Automated Fare Collection Market Size & Outlook
U.S. automated fare collection market, 2018-2030 (US$M)
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U.S. automated fare collection market highlights
- The U.S. automated fare collection market generated a revenue of USD 2,717.9 million in 2023 and is expected to reach USD 6,167.6 million by 2030.
- The U.S. market is expected to grow at a CAGR of 12.4% 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 2,717.9 million |
| Market revenue in 2030 | USD 6,167.6 million |
| Growth rate | 12.4% (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, U.S. accounted for 23.7% 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 North America, U.S. automated fare collection market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 2,351.1 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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U.S. 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% in 2023. Horizon Databook has segmented the U.S. 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.
The growth of the market can be attributed to the initiatives being pursued by the government to upgrade public transportation projects. For example, NGV America reported in June 2023 that the Biden administration announced USD 233.76 million for national Compressed Natural Gas (CNG) bus transit projects.
Golden Empire Transit, representing the state of California, would receive USD 5,750,351 to replace its aging diesel buses with CNG buses equipped with features, such as automated passenger counters, collision avoidance software, and electronic fare collection systems, designed to improve user experience, safety, and the dependability of the transit system for citizens of the city of Bakersfield in California, U.S.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. automated fare collection market , including forecasts for subscribers. This country databook contains high-level insights into U.S. automated fare collection market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. automated fare collection market size, by technology, 2018-2030 (US$M)
U.S. Automated Fare Collection Market Outlook Share, 2023 & 2030 (US$M)
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