Urban population is increasing in a rapid pace. Ticketing stations are proving as barriers obstructing smooth flow of passenger movement. Transport operators and agencies are increasingly looking for solutions to enhance consumer convenience and effectively manage crowd at these facilities Increasing penetration of digitalization across the transportation industry globally is paving way for the growth of the global technology solutions for public transport ticketing market. Be-in/be-out (BIBO) ticketing solutions is gaining momentum in the global market. The BIBO ticketing solutions in public transportation systems automatically detects when a passenger boards a specific mode of transportation and tracks their movement, thereby calculating the distance travelled by the passenger respectively. The information derived allows automatic calculation of the fare, without any direct interaction with the passenger, thus promoting better experience and increased level of customer satisfaction. The technology has witnessed upsurge in adoption owing to the rapid spread of coronavirus and is estimated to further the technology solutions for public transport market’s growth over the future years.
In terms of revenue, global technology solutions for public transport market was valued at US$ 1481.7 Mn in 2020 growing at a CAGR of 18.7% over the forecast period (2021 – 2030). The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries
The outbreak of the coronavirus has encouraged transportation operators and agencies to adopt advanced technology solutions for public transport ticketing. According to a study, about 92% of the transportation agencies intend to deploy fare payment solutions to provide convenient and contact-less ticketing experience to their riders. The pandemic is anticipated to further the adoption of contact-less payment technologies including mobile wallets, mobile ticketing and contactless bankcards amongst others, thereby aiding the growth of technology solutions for public transport market over the forecast years. Furthermore, the study also highlighted the growing popularity of contactless EMV, smartcards and mobile barcode, which are estimated to overpower the prevalence of paper ticketing over the years. Osaka Monorail, for instance, an elevated rail network in Japan which covers 18 stations in the third largest city of the country, launched mobile ticketing in collaboration with Masabi and Jorudan, the travel technology company.
Some of the players operating in the global technology solutions for public transport market are Giesecke+Devrient GmbH, Infineon Technologies AG, Masabi Ltd, NXP Semiconductors, Thales Group, and O-CITY amongst other market participants.
Global Technology Solutions for Public Transport Market:
- Smart cards and Ticket ICs and Ticket ICs and Ticket ICs
- Mobile Phones
By End User
- Subway lines
- Trains of local and long-distance transport
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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