Key Findings
The North America automated fare collection system market is estimated to grow with a CAGR of 9.91% during the forecasted period of 2023-2032. Some of the key drivers propelling the market growth of the region include significant investments in automated fare collection system solutions, the increasing need for contactless smartcards and NFC technology, and the surge in road accidents and traffic congestion.

Market Insights
The North America automated fare collection system market growth evaluation covers the study of Canada and the United States. Canada is one of the initial adopters of automated fare collection systems globally. Aligning with this, in 2007, Brantford Transit in Brantford, Ontario, was the first Canadian city to install the complete BEA Automated Fare Collection System (AFCS), comprising smartcard readers and fareboxes.
Conversely, for the preventive measures against the spread of the novel coronavirus, OC Transpo entered into an agreement with Scheidt & Bachmann (S&B) in August 2020 in order to accelerate additional contactless fare payment technology on its O-Train stations as well as bus fleet with fare gates. The project was set to be initiated by the end of 2021 and, subsequently, will accept payments through MasterCard, Apple Pay, Visa, and Google Pay. Therefore, the abovementioned factors are projected to augment the North America automated fare collection system market growth over the forecast years.

Competitive Insights
Eminent players operating in the market are Thales Group, Lecip Holdings Corporation, Cubic Transportation Systems Inc, etc.
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 caters 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.
  • The 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