Public Transport Smart Card Market Overview and Scope by 2030

The Public Transport Smart Card Market - Global Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, major production and consumption, ecosystem analysis, competitive landscape, and market composition analysis.

Government initiatives to promote use of public transportation, and adoption of advanced ticketing systems to govern demand for public transport smart card

The dependence on personal vehicles fueled by fossil fuels has resulted in significantly increasing the pollution levels across the globe. Government authorities across major economies such as China, India, the U.S., Germany, the U.K., France and Italy are thus promoting usage of public transportation through subsidizes and by updating the public transportation infrastructure. Investment in development of new transportation infrastructure has increased significantly across Asia Pacific with China, India and Japan being at the forefront of development. Along with this, the ticketing systems to handle huge population utilizing public transportation has witnessed adoption of advanced technology with an aim to streamline ticketing process. Smart cards for ticketing are prevalent in public transport for a better part of the decade. However, the method of using smart cards for ticketing has been revised significantly over last couple of years. The development and adoption of advanced ticketing system, which requires minimal human interventions in ticket vending, has grown popular and is anticipated to gain further traction over coming years. Thus, the global public transport smart card market is anticipated to propel at a compound annual growth rate (CAGR) of 11.8% during forecast years.

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Contactless smart cards to drive market demand across Asia Pacific, and Europe

The Public Transport Smart Card market study is segmented based on product type, interface, mode of transportation, and geography. Based on interface, the market is segmented into contact smart cards, and contactless smart cards. The contactless smart cards dominated the global public transport smart card market in 2018 and is anticipated to be the fastest growing segment during the forecast period. Increased adoption across Japan, China and EU countries fueled by the ease of convenience is anticipated to be the prime factor supporting growth of contactless smart cards over coming years. The contactless public transportation smart cards are anticipated to grow at a CAGR of 14.5% (approx.) during 2020 – 2030.

High demand for AI Tools to contribute towards growth of market in Small & Medium Enterprise

Based on mode of transportation, global public transportation smart card market is segmented into bus, train, light rail transit, metro, and others. The train segment dominated the market in 2018 and is anticipated to grow at a steady growth rate during forecast period. Use of smart cards in metro is anticipated to be grow at fastest growth rate owing to rising preference and expanding metro services across the globe.

Based on geography, the market is segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific accounted for largest share in the global public transport smart card market and is anticipated to be the fastest growing geography during forecast period. The market dominance and growth is attributed to the huge population base and expanding public transport infrastructure across Japan, China, and India. Europe is anticipated to witness steady growth fueled by rising demand from the U.K., France, Italy, and Germany.

Major players operating in the global public transport smart card market include Advantech Co., Ltd., American Express Company, Atos SE, Conduent Incorporated, CPI Card Group Inc., Frequentis AG, Giesecke & Devrient GmbH, Infineon Technologies AG, INSIDE Secure SA, Metro Infrasys Pvt. Ltd., Moxa Inc., NXP Semiconductors N.V., Oberthur Technologies S.A., OEM Technology Solutions, Texas Instruments, Inc., and ZTE Corporation.

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