< Key Hightlight >

MARKET OUTLOOK

Triton’s report alludes that the Middle East and Africa automated fare collection system market is estimated to display revenue growth at a CAGR of 10.01% during the forecast period 2021-2028. Saudi Arabia, South Africa, the UAE, Turkey, and Rest of Middle East & Africa form the market in this region.

In Saudi Arabia, the introduction of various applications has assisted consumers in booking tickets and recharging smart cards easily. Here, the SAPTCO (Saudi Public Transport Company) is a widely used application in the country. Moreover, several other apps like Careem, Hala Taxi, and Noor Rides have influenced the demand for automated fare collection systems. Additionally, the construction of new metro networks is anticipated to enhance the demand for automated fare systems, which will further contribute to the growth of Saudi Arabia’s automated fare collection system market in the near future. 

On the other hand, in South Africa, the Muvo card is a fare management system introduced by the transport authority, which offers easy payments across the public transport network. It can be used on Durban transport and Mynah busses. Furthermore, Thales Group offers an automatic fare collection system for the Gautrain train system, including a ticket vending feature in the country. Moreover, its AFC central processing system is designed to provide multi-modal transport, permitting commuters to travel with one card across the transport network. Thus, as stated above, these factors hold the potential to expand the growth of the automated fare collection system market in the country. 

COMPETITIVE OUTLOOK

The key companies thriving in the automated fare collection system market consist of LG CNS, Atos SE, Cubic Transportation Systems Inc, NXP Semiconductors, and Thales Group.