- Contactless Payment
- Magnetic Strip & Bar Coding
- Near Field Communication
- Optical Character Recognition
- Smart Card
The global transportation payment solutions market size was valued at USD 5,266.6 million in 2022 and is poised to grow at a significant CAGR of 16.8% from 2023-2029. Transportation payment solutions are a sort of payment system in which money transactions took via digital methods while transportation. This kind of digital payment can also be referred to as an electronic payment solution during transportation because there will be no actual currency involved. The contactless payment system is anticipated to show a significant growth in the market forecast owing to public convenience and safety and consumes less time to process. Moreover, the players are focusing on technological advancements to maintain growth in the market. For instance, in February 2022 - Transtura acquires WazoMoney, to launch payment solutions for the mobility sector. Huge demand for transportation payment solutions in the travel and tourism industries and increasing digitalization of the transportation sector are the key driving factors for the high adoption of transportation payment solutions across the world.
Transportation Payment Solutions Market Key Developments:
- In February 2022, MercuryGate International, Inc. added smart transportation features, such as embedded analytics, artificial intelligence, and machine learning, to its transportation management solution. The enhanced solution was designed to provide real-time insights into global and local supply chain requirements.
Transportation Payment Solutions Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
16.8%
Largest Market
North America
Fastest Growing Market
Asia Pacific
Transportation Payment Solutions Market Dynamics
Transportation Payment Solutions Market is expected to grow at significant CAGR over the forecast years owing to the growing importance of affordable access to rapid transit with the help of smart transit systems. Moreover, the huge demand for transportation payment solutions in the travel and tourism industries and the increasing digitalization of the transportation sector are the key driving factors for the high adoption of transportation payment solutions across the world. Furthermore, Smart tickets offer a cost-effective and efficient way for passengers to manage their travels in public transport. Passengers can also load credit amounts in their tickets in advance for their travel. If the smart ticket is stolen or lost, then users can recover and transfer the amount to another smart card, thereby making it a convenient and secured ticketing application for travelers.
North-America Got Significant Share
Transportation Payment Solutions Market Regional Analysis
North America accounted to have the largest share in the global transportation payment solutions market and the market is expected to grow rise at a significant CAGR over the forecast years owing to the increase in COVID-19 cases has been a major setback for the transportation industry. The transportation industry has suffered a significant decline due to most of governments enforce isolation practices. Governments have taken several steps to meet the challenges, by reducing the toll fee, and by putting a no-stop & no-check signs. Moreover, the Asia pacific global transportation payment solution market is holding a significant share owing to transport Payments being supported by the various governments in India, China, Japan, and other APAC countries
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The transportation payment solutions market report provides granular level information about the market size, regional market share, historic market (2018-2022) and forecast (2023-2029)
- The report covers in-detail insights about the competitors overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments, and start-up details that are actively working in the market
- The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario.
Transportation Payment Solutions Market Segmentation
By Technology
By System
- Electronic Tra
- Electronic Toll Collection
By Application
- Bus
- Car
- Toll
- Air Travel
- Ship
- Train
By End User
- Banking, financial services and insurance (BFSI)
- Retail & eCommerce
- Transportation & Logistics
- Healthcare
- Telecom & IT
- Media & Entertainment
- Others
Frequently Asked Questions
The CAGR of the transportation payment solutions market is 16.8% over the forecast period (2022 - 2028)
The major players in the global transportation payment solutions market are Payvision, Conduent Business Services, NXP Semiconductors, EOS UPTRADE, Global Mass Transit, Indracompany, Ingenico, Nayax, Xerox Corporation, LG CNS, Longbow Technologies Sdn. Bhd., Atos SE, Samsung SDS and Thales Group.
Asia Pacific is the fastest-growing region for transportation payment solutions market
| 1.Executive Summary |
| 2.Global Transportation Payment Solutions Market Introduction |
| 2.1.Global Transportation Payment Solutions Market - Taxonomy |
| 2.2.Global Transportation Payment Solutions Market - Definitions |
| 2.2.1.Product Type |
| 2.2.2.System |
| 2.2.3.Application |
| 2.2.4.End User |
| 2.2.5.Region |
| 3.Global Transportation Payment Solutions Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Transportation Payment Solutions Market Analysis, 2018-2022 and Forecast 2023-2029 |
| 4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Transportation Payment Solutions Market By Product Type, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 5.1. Contactless Payment |
| 5.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Magnetic Strip & Bar Coding |
| 5.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Near Field Communication |
| 5.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Optical Character Recognition |
| 5.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Smart Card |
| 5.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 6.Global Transportation Payment Solutions Market By System, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 6.1. Electronic Tra |
| 6.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Electronic Toll Collection |
| 6.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 7.Global Transportation Payment Solutions Market By Application, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 7.1. Bus |
| 7.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Car |
| 7.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Toll |
| 7.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Air Travel |
| 7.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Ship |
| 7.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Train |
| 7.6.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 7.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.6.3. Market Opportunity Analysis |
| 8.Global Transportation Payment Solutions Market By End User, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 8.1. Banking, financial services and insurance (BFSI) |
| 8.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Retail & eCommerce |
| 8.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Transportation & Logistics |
| 8.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Healthcare |
| 8.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Telecom & IT |
| 8.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 8.6. Media & Entertainment |
| 8.6.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 8.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.6.3. Market Opportunity Analysis |
| 8.7. Others |
| 8.7.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 8.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.7.3. Market Opportunity Analysis |
| 9.Global Transportation Payment Solutions Market By Region, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 9.1. North America |
| 9.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 9.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.1.3. Market Opportunity Analysis |
| 9.2. Europe |
| 9.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 9.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.2.3. Market Opportunity Analysis |
| 9.3. Asia Pacific (APAC) |
| 9.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 9.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.3.3. Market Opportunity Analysis |
| 9.4. Middle East and Africa (MEA) |
| 9.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 9.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.4.3. Market Opportunity Analysis |
| 9.5. Latin America |
| 9.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 9.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.5.3. Market Opportunity Analysis |
| 10.North America Transportation Payment Solutions Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 10.1. Product Type Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Contactless Payment |
| 10.1.2.Magnetic Strip & Bar Coding |
| 10.1.3.Near Field Communication |
| 10.1.4.Optical Character Recognition |
| 10.1.5.Smart Card |
| 10.2. System Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Electronic Tra |
| 10.2.2.Electronic Toll Collection |
| 10.3. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Bus |
| 10.3.2.Car |
| 10.3.3.Toll |
| 10.3.4.Air Travel |
| 10.3.5.Ship |
| 10.3.6.Train |
| 10.4. End User Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Banking, financial services and insurance (BFSI) |
| 10.4.2.Retail & eCommerce |
| 10.4.3.Transportation & Logistics |
| 10.4.4.Healthcare |
| 10.4.5.Telecom & IT |
| 10.4.6.Media & Entertainment |
| 10.4.7.Others |
| 10.5. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.5.1.United States of America (USA) |
| 10.5.2.Canada |
| 11.Europe Transportation Payment Solutions Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 11.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Contactless Payment |
| 11.1.2.Magnetic Strip & Bar Coding |
| 11.1.3.Near Field Communication |
| 11.1.4.Optical Character Recognition |
| 11.1.5.Smart Card |
| 11.2. System Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Electronic Tra |
| 11.2.2.Electronic Toll Collection |
| 11.3. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Bus |
| 11.3.2.Car |
| 11.3.3.Toll |
| 11.3.4.Air Travel |
| 11.3.5.Ship |
| 11.3.6.Train |
| 11.4. End User Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.Banking, financial services and insurance (BFSI) |
| 11.4.2.Retail & eCommerce |
| 11.4.3.Transportation & Logistics |
| 11.4.4.Healthcare |
| 11.4.5.Telecom & IT |
| 11.4.6.Media & Entertainment |
| 11.4.7.Others |
| 11.5. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.5.1.Germany |
| 11.5.2.France |
| 11.5.3.Italy |
| 11.5.4.United Kingdom (UK) |
| 11.5.5.Spain |
| 11.5.6.Rest of EU |
| 12.Asia Pacific (APAC) Transportation Payment Solutions Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 12.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Contactless Payment |
| 12.1.2.Magnetic Strip & Bar Coding |
| 12.1.3.Near Field Communication |
| 12.1.4.Optical Character Recognition |
| 12.1.5.Smart Card |
| 12.2. System Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Electronic Tra |
| 12.2.2.Electronic Toll Collection |
| 12.3. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Bus |
| 12.3.2.Car |
| 12.3.3.Toll |
| 12.3.4.Air Travel |
| 12.3.5.Ship |
| 12.3.6.Train |
| 12.4. End User Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.Banking, financial services and insurance (BFSI) |
| 12.4.2.Retail & eCommerce |
| 12.4.3.Transportation & Logistics |
| 12.4.4.Healthcare |
| 12.4.5.Telecom & IT |
| 12.4.6.Media & Entertainment |
| 12.4.7.Others |
| 12.5. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.5.1.China |
| 12.5.2.India |
| 12.5.3.Australia and New Zealand (ANZ) |
| 12.5.4.Japan |
| 12.5.5.Rest of APAC |
| 13.Middle East and Africa (MEA) Transportation Payment Solutions Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 13.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Contactless Payment |
| 13.1.2.Magnetic Strip & Bar Coding |
| 13.1.3.Near Field Communication |
| 13.1.4.Optical Character Recognition |
| 13.1.5.Smart Card |
| 13.2. System Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Electronic Tra |
| 13.2.2.Electronic Toll Collection |
| 13.3. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Bus |
| 13.3.2.Car |
| 13.3.3.Toll |
| 13.3.4.Air Travel |
| 13.3.5.Ship |
| 13.3.6.Train |
| 13.4. End User Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Banking, financial services and insurance (BFSI) |
| 13.4.2.Retail & eCommerce |
| 13.4.3.Transportation & Logistics |
| 13.4.4.Healthcare |
| 13.4.5.Telecom & IT |
| 13.4.6.Media & Entertainment |
| 13.4.7.Others |
| 13.5. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.5.1.GCC Countries |
| 13.5.2.South Africa |
| 13.5.3.Rest of MEA |
| 14.Latin America Transportation Payment Solutions Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 14.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.1.1.Contactless Payment |
| 14.1.2.Magnetic Strip & Bar Coding |
| 14.1.3.Near Field Communication |
| 14.1.4.Optical Character Recognition |
| 14.1.5.Smart Card |
| 14.2. System Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.2.1.Electronic Tra |
| 14.2.2.Electronic Toll Collection |
| 14.3. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.3.1.Bus |
| 14.3.2.Car |
| 14.3.3.Toll |
| 14.3.4.Air Travel |
| 14.3.5.Ship |
| 14.3.6.Train |
| 14.4. End User Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.4.1.Banking, financial services and insurance (BFSI) |
| 14.4.2.Retail & eCommerce |
| 14.4.3.Transportation & Logistics |
| 14.4.4.Healthcare |
| 14.4.5.Telecom & IT |
| 14.4.6.Media & Entertainment |
| 14.4.7.Others |
| 14.5. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.5.1.Brazil |
| 14.5.2.Mexico |
| 14.5.3.Rest of LA |
| 15. Competition Landscape |
| 15.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 15.2.1.Payvision |
| 15.2.2.Conduent Business Services |
| 15.2.3.NXP Semiconductors |
| 15.2.4.EOS UPTRADE |
| 15.2.5.Global Mass Transit |
| 15.2.6.Indracompany |
| 15.2.7.Ingenico |
| 15.2.8.Nayax |
| 15.2.9.Xerox Corporation |
| 15.2.10.LG CNS |
| 15.2.11.Longbow Technologies Sdn. Bhd. |
| 15.2.12.Atos SE |
| 15.2.13.Samsung SDS |
| 15.2.14.Thales Group |
| 16. Research Methodology |
| 17. Appendix and Abbreviations |
- Payvision
- Conduent Business Services
- NXP Semiconductors
- EOS UPTRADE
- Global Mass Transit
- Indracompany
- Ingenico
- Nayax
- Xerox Corporation
- LG CNS
- Longbow Technologies Sdn. Bhd.
- Atos SE
- Samsung SDS
- Thales Group