Market by Component, Application, Technology, and Country | Forecast 2021-2028
Triton’s report determines that the automated fare collection system market in Latin America is expected to advance at a CAGR of 9.02% during the forecasting years 2021-2028.
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The
countries analyzed in this market include:
• Brazil
• Mexico
• Rest of Latin America
The
automated fare collection system market is growing at a rapid pace across the
region, owing to the rise in demand for automated fare systems to protect the
transportation infrastructure. Further, Thales Group introduced a new TransCity
modular fare collection system that allows operators to accept various payment
methods, such as travel cards or mobile payments. Moreover, countries have
introduced bus fare collection systems, offering Wi-Fi and GPS services to
commuters. Furthermore, the region is undergoing a technological
transformation. Here, the adoption of new technologies, including big data and
cloud services, supports the growth of the automated fare collection system
market across Latin America.
In
Brazil, MetroRio, a transit operator, introduced contactless payments in
partnership with Visa, Banco do Brasil, and Bradesco and Cielo. It became the
first transit operator to use visa secure access module (SAM) technology
globally. Visa SAM is based on EMV technology that allows public transit to
accept any card or mobile payments. The country supports the use of three types
of smart cards, including BLA cards. Therefore, the growing adoption rate of
smart cards is estimated to influence the demand for automated fare collection
systems, simultaneously boosting the automated fare collection system market on
a positive growth trajectory.
Thales
Group is a global technology solution that serves clients in the aerospace,
defense, security, and transportation sectors. Its business segments include
aerospace, transport, security, and digital identity. Additionally, the company
provides onboard electronic equipment and functions for aircraft piloting,
payloads, ticketing solutions, monitoring urban transport networks, and others.
Thales has operations in various regions, including the Latin America region.
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VIEW REPORT1. LATIN
AMERICA AUTOMATED FARE COLLECTION SYSTEM MARKET - 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 SYSTEM MARKET
3. LATIN
AMERICA 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. LATIN
AMERICA AUTOMATED FARE COLLECTION SYSTEM MARKET OUTLOOK - BY APPLICATION
4.1. BUS
4.2. TRAIN
4.3. TOLL
4.4. CAR
5. LATIN
AMERICA 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 – LATIN AMERICA
6.1. BRAZIL
6.2. MEXICO
6.3. REST
OF LATIN AMERICA
7. COMPETITIVE
LANDSCAPE
7.1. LG
CNS
7.2. OMRON
CORPORATION
7.3. SAMSUNG
SDS
7.4. SCHEIDT
& BACHMANN GMBH
7.5. CUBIC
TRANSPORTATION SYSTEMS INC
7.6. ATOS
SE
7.7. DORMAKABA
HOLDING
7.8. LECIP
HOLDINGS CORPORATION
7.9. NXP
SEMICONDUCTORS
7.10. THALES
GROUP
8. RESEARCH
METHODOLOGY & SCOPE
8.1. RESEARCH
SCOPE & DELIVERABLES
8.1.1. OBJECTIVES
OF STUDY
8.1.2. SCOPE
OF STUDY
8.2. SOURCES
OF DATA
8.2.1. PRIMARY
DATA SOURCES
8.2.2. SECONDARY
DATA SOURCES
8.3. RESEARCH
METHODOLOGY
8.3.1. EVALUATION
OF PROPOSED MARKET
8.3.2. IDENTIFICATION
OF DATA SOURCES
8.3.3. ASSESSMENT
OF MARKET DETERMINANTS
8.3.4. DATA
COLLECTION
8.3.5. DATA
VALIDATION & ANALYSIS
TABLE 1: LATIN AMERICA
AUTOMATED FARE COLLECTION SYSTEM MARKET, BY COUNTRY, 2021-2028 (IN $ MILLION)
TABLE 2: VENDOR
SCORECARD
TABLE 3: LATIN AMERICA
AUTOMATED FARE COLLECTION SYSTEM MARKET, BY COMPONENT, 2021-2028 (IN $ MILLION)
TABLE 4: LATIN AMERICA
HARDWARE COMPONENT MARKET, BY TYPE, 2021-2028 (IN $ MILLION)
TABLE 5: LATIN AMERICA
AUTOMATED FARE COLLECTION SYSTEM MARKET, BY APPLICATION, 2021-2028 (IN $
MILLION)
TABLE 6: LATIN AMERICA
AUTOMATED FARE COLLECTION SYSTEM MARKET, BY TECHNOLOGY, 2021-2028 (IN $
MILLION)
TABLE 7: LATIN AMERICA
AUTOMATED FARE COLLECTION SYSTEM MARKET, BY COUNTRY, 2021-2028 (IN $ MILLION)
FIGURE 1: LATIN AMERICA
AUTOMATED FARE COLLECTION SYSTEM MARKET, BY APPLICATION, 2020 & 2028 (IN %)
FIGURE 2: PORTER’S FIVE
FORCES ANALYSIS
FIGURE 3: MARKET
ATTRACTIVENESS INDEX
FIGURE 4: LATIN AMERICA
AUTOMATED FARE COLLECTION SYSTEM MARKET, BY HARDWARE COMPONENT, 2021-2028 (IN $
MILLION)
FIGURE 5: LATIN AMERICA
AUTOMATED FARE COLLECTION SYSTEM MARKET, BY VALIDATORS, 2021-2028 (IN $
MILLION)
FIGURE 6: LATIN AMERICA
AUTOMATED FARE COLLECTION SYSTEM MARKET, BY TURNSTILES, 2021-2028 (IN $
MILLION)
FIGURE 7: LATIN AMERICA
AUTOMATED FARE COLLECTION SYSTEM MARKET, BY TICKET VENDING MACHINES, 2021-2028
(IN $ MILLION)
FIGURE 8: LATIN AMERICA
AUTOMATED FARE COLLECTION SYSTEM MARKET, BY OTHER HARDWARE COMPONENTS,
2021-2028 (IN $ MILLION)
FIGURE 9: LATIN AMERICA
AUTOMATED FARE COLLECTION SYSTEM MARKET, BY SOFTWARE, 2019-2025 (IN $ MILLION)
FIGURE 10: LATIN
AMERICA AUTOMATED FARE COLLECTION SYSTEM MARKET, BY BUS, 2021-2028 (IN $
MILLION)
FIGURE 11: LATIN
AMERICA AUTOMATED FARE COLLECTION SYSTEM MARKET, BY TRAIN, 2021-2028 (IN $
MILLION)
FIGURE 12: LATIN
AMERICA AUTOMATED FARE COLLECTION SYSTEM MARKET, BY TOLL, 2021-2028 (IN $
MILLION)
FIGURE 13: LATIN
AMERICA AUTOMATED FARE COLLECTION SYSTEM MARKET, BY CAR, 2021-2028 (IN $
MILLION)
FIGURE 14: LATIN
AMERICA AUTOMATED FARE COLLECTION SYSTEM MARKET, BY SMART CARD, 2021-2028 (IN $
MILLION)
FIGURE 15: LATIN
AMERICA AUTOMATED FARE COLLECTION SYSTEM MARKET, BY OCR (OPTICAL CHARACTER
RECOGNITION), 2021-2028 (IN $ MILLION)
FIGURE 16: LATIN
AMERICA AUTOMATED FARE COLLECTION SYSTEM MARKET, BY NFC (NEAR FIELD
COMMUNICATION), 2021-2028 (IN $ MILLION)
FIGURE 17: LATIN
AMERICA AUTOMATED FARE COLLECTION SYSTEM MARKET, BY OTHER TECHNOLOGIES,
2021-2028 (IN $ MILLION)
FIGURE 18: LATIN
AMERICA AUTOMATED FARE COLLECTION SYSTEM MARKET, REGIONAL OUTLOOK, 2020 &
2028 (IN %)
FIGURE 19: BRAZIL
AUTOMATED FARE COLLECTION SYSTEM MARKET 2021-2028 (IN $ MILLION)
FIGURE 20: MEXICO
AUTOMATED FARE COLLECTION SYSTEM MARKET 2021-2028 (IN $ MILLION)
FIGURE 21: REST OF
LATIN AMERICA AUTOMATED FARE COLLECTION SYSTEM MARKET 2021-2028 (IN $ MILLION)