Global Transit Cards Market to Reach US$ 134.2 Billion by 2032, Propelled by the Growing Population and Rapid Urbanization

March 13, 2023 | Electronics and Semiconductors

The latest report by IMARC, titled “Transit Cards Market Report by Product (Bus Card, Subway Card, and Others), Type (Contactless Transit Cards, Contact-based Transit Cards, Combi/Hybrid Transit Cards), Application (Transportation, Traffic Management, and Others), and Region 2024-2032”, finds that the global transit cards market size reached US$ 75.1 Billion in 2023. Transit cards are compact travel cards issued to passengers to take unlimited trips through public transportation, such as metro, train, or bus. They are manufactured using polyvinyl chloride and are embedded with an integrated circuit, a microcontroller and a secured memory chip. These magnetic chips store prepaid value for an individual to track the balance amount to use while traveling. In recent years, transit cards are gaining traction as they are faster, more convenient, and reduce the risks of fraudulent activities.

Global Transit Cards Market Trends:

One of the primary factors driving the market is , the growing preference of individuals toward public transportation to avoid traffic congestion and air pollution. Additionally, transit cards are gaining popularity with the rising need for effective passenger mobility solutions, growing population and rapid urbanization. In line with this, the increasing employment of contactless transit cards in the transportation sector that can be waved over a radio frequency identification device (RFID) for convenient passage of the users is propelling the market growth. Furthermore, key players are focusing on introducing various product variants, such as the launch of temper-resistant transit cards, which can be accessed only through a personal identification number (PIN). Other growth-inducing factors include the adoption of multi-application transit card, technological enhancements in the existing transportation infrastructure, and rising environmental concerns among the masses. Looking forward, IMARC Group expects the market value to reach US$ 134.2 Billion by 2032, expanding at a CAGR of 6.5% during the forecast period (2024-2032).

Market Summary:

  • On the basis of the product, the market has been divided into bus card, subway card, and others.
  • Based on the type, the market has been segregated into contactless, contact-based, and combi/hybrid transit cards.
  • Based on the application, the market has been categorized into transportation, traffic management, and others.
  • Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Spain, Italy, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has also been analyzed, with some of the key players being 4G Identity Solutions Private Ltd., Beijing Watchdata Co. Ltd., Cardlogix Corporation, Eastcompeace Technology Co. Ltd., Entrust Corporation, Giesecke & Devrient GmbH, Infineon Technologies AG, Thales Group, and Watchdata Group.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Product, Type, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 4G Identity Solutions Private Ltd. (Goldstone Technologies Ltd.), Beijing Watchdata Co. Ltd., Cardlogix Corporation, Eastcompeace Technology Co. Ltd, Entrust Corporation, Giesecke & Devrient GmbH, Infineon Technologies AG, Thales Group and Watchdata Group
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Transit Cards Market to Reach US$ 134.2 Billion by 2032, Propelled by the Growing Population and Rapid Urbanization
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