The North America automated fare collection system market is estimated to record a CAGR of 10.50% over the forecast period of 2020-2028. The increasing demand for contactless smart cards and NFC technology is fueling market growth in the region.
The North American automated fare collection system market is researched further by segmenting the region into the United States and Canada. Canada is one of the early adopters for the automated fare collection systems. In 2007, Brantford Transit in Brantford, Ontario, was the first Canadian city to install the complete BEA automated fare collection system. In 2008, Kingston Transit in Kingston, Ontario, installed a complete system on their 48 regular transportation buses. In February 2010, the Saskatoon Transit system in Saskatoon, Saskatchewan, introduced ’Go Card,’ a complete smart card fare collection system on their 135 general buses and smart card validators on 21 specialized minibusses. In November 2010, Regina Transit in Regina, Saskatchewan, launched a complete system on their 109 conventional buses, and smart card validators on 30 paratransit minibusses. These factors are boosting the market growth in the region.
LG CNS, OMRON Corporation, Cubic Transport Systems Inc, Thales Group, Lecip Holdings Corporation, etc. are some of the leading companies functioning in the market.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments