Public Transport Smart Card Market 2020 Market Research Trends
The global public transport smart card market is anticipated to witness rampant growth during forecast period fueled by increasing investment in updating and developing new public transport infrastructure across the major demographic regions around the globe. Adoption of advanced technology in ticketing system is anticipated to bolster the growth of smart cards in public transportation. Consumer preference for time efficient transportation is anticipated to fuel the adoption of contactless smart cards in public transport infrastructure.
Asia Pacific is anticipated to be the fastest growing market for public transport smart cards primarily driven by the demand from expanding public transport infrastructures in China, India and other Southeast Asian countries. North America accounted for largest market share in public transport smart card market due to high penetration across bus, train and tram applications. However, insightSLICE estimates that Asia Pacific would outperform the North America public transport smart card market by 2030. 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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The report titled “Public Transport Smart Card Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030” offers market estimates for a period 2018 to 2030, wherein 2018 is historic period, 2019 is the base year, and 2020 to 2030 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global public transport smart card market. Furthermore, the report would reflect on the key developments, global & regional sales network, business strategies, security & exchange overview, research & development activities, production facilities, product portfolio, employee strength, and key executive, for all the players considered under the scope of study. For instance, NXP Semiconductors N.V. reported revenues of US$ 9,407 Million in 2018 and the segment and geographic analysis of the company indicates that High Performance Mixed Signal (“HPMS”) segment is the dominating segment of the company, with EMEA and Americas being the major revenue generating region.
The Public Transport Smart Card market study is segmented based on product type, interface, mode of transportation, and geography. Based on product type the market is segmented into microcontroller based smart cards, and memory card based smart cards. Based on interface, the market is segmented into contact smart cards, and contactless smart cards. Based on mode of transportation, global public transportation smart card market is segmented into bus, train, light rail transit, metro, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Additionally, the study provides in-depth analysis of individual company considered under the scope of study with a focus on all operating business segment, and would identify the segment of the company focusing on public transport smart cards. Further, market share of company in the global public transport smart card market would also be calculated. For instance, NXP Semiconductors N.V. operates through two business segments namely High Performance Mixed Signal and Standard Products. Moreover, High Performance Mixed Signal segment of the company deals with Public Transport Smart Card products, with a revenue contribution of US$ 9,022 Million in 2018.
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The report study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the public transport smart card companies. Furthermore, the global public transport smart card market study would take into consideration the participants engaged throughout the ecosystem of the market, along with their contribution. Product portfolio would focus on all the products under the public transport smart card market business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global public transport smart card marketplace. For instance, “NXP Semiconductors N.V., inventor of MIFARE, the leading contactless payment and access solution for transportation used in over 750 cities worldwide, announced that it has collaborated with Google to integrate NXP’s new MIFARE 2GO cloud service, a complete end-to-end solution that manages digitized MIFARE-based credentials onto mobile and wearable devices, with Google Pay”. The Key players in the global public transport smart card market are focused on developing advanced smart cards and payment system in order to gain competitive edge in the global market.