Close to only 11% of the global automated fare collection market
was taken up by regional players in 2014, indicating a highly
consolidated market. The top three players – NXP Semiconductors, Atos,
and Omron Corporation – collectively held a share of 56% in revenue in
2014. As stated by Transparency Market Research in a new report, all top
automated fare collection services and technologies providers are
constantly on the cutting edge of automated fare collection technologies
through continuous innovation and system development. These innovations
allow the vendors to tackle the rapid increase in demand while
providing safe and secure transaction methods.
Other key strategies adopted by the
automated fare collection vendors include a significant scale of
acquisitions and mergers to maintain and grow market value. At the same
time, the players also invest heavily in improvement techniques of their
own products. This includes investing in advanced bug tracking,
real-time data solutions, and integrated operations.
Transport Networks Improve, Add Greater Scope for Automated Fare Collection
“All parts of the world, whether
developing or developed, hold transport at a high priority when it comes
to development and expansion,” states a TMR analyst. “The latest
development trend in transport is the implementation of smart transport
systems, which can sync perfectly with the new automated fare collection
systems available in the market.”
The use of automated fare collection in
smart transport is expected to improve the overall flow of traffic and
help government and other agencies cut down on operation costs.
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Additionally, the implementation of
automated fare collection systems directly in the existing transport
systems can also help substantially in reducing road congestion, which
is a key cause of high fuel consumption and carbon emissions.
Organization and Integration Challenges Hinder Automated Fare Collection Vendor Growth
The implementation of automated fare
collection systems involves the installation of multiple hardware and
software in a transportation system. It brings out a key challenge faced
by all players: the complex nature of an automated fare collection
system and its integration. The various components in an automated fare
collection system may make it exceedingly difficult to integrate them
with a current organization, especially when it comes to switching
between automatic and manual fare collection.
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