Transportation Payment Solutions Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

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Transportation Payment Solutions Market – By Technology (EMV/Magnetic Stripe, NFC, Optical Character Recognition) and Application (Bus, Car, Toll, Air Travel, Ship, Train) and Geography

 

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Report

Description

The global transportation payment solutions market is estimated to be valued at USD 5,266.6 million in 2021 and is poised to grow at a significant CAGR of 16.8% over 2022-2028. 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.

Recent Market 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

MARKET SUMMARY
-
16.8% CAGR
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 16.8%
  • Largest Market– North America
  • Fastest Growing Market– Asia Pacific

Transportation Payment Solutions Market

  • The transportation payment solutions market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  • The transportation payment solutions market is segmented based on product type, distribution channel, and geography.
Key Players
  • Ingenico
  • LTK Engineering Services
  • Kapsch Aktiengesellschaft
  • Longbow Technologies Sdn. Bhd
  • Payvision and Snapper Services Ltd
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

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
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2016-2021) and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s 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


Location

GEOGRAPHY

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


Report

Table Of Content

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. By Technology
2.2.2. By System
2.2.3. By End User
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. Global Transportation Payment Solutions Market Dynamic Factors – Impact Analysis
3.6. Global Transportation Payment Solutions Market – Competition Landscape
4. Global Transportation Payment Solutions Market Analysis, 2017-2021 and Forecast, 2022-2028
4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Transportation Payment Solutions Devices Market, By Technology, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
5.1. Contactless Payment
5.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
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, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
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, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
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, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
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, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
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 Devices Market, By System, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
6.1. Electronic Tra
6.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
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, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
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 Devices Market, By End User, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.1. Banking, financial services and insurance (BFSI)
7.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. Retail & eCommerce
7.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
7.3. Transportation & Logistics
7.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.3.3. Market Opportunity Analysis
7.4. Healthcare
7.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.4.3. Market Opportunity Analysis
7.5. Telecom & IT
7.5.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.5.3. Market Opportunity Analysis
7.6. Media & Entertainment
7.6.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.6.3. Market Opportunity Analysis
7.7. Others
7.7.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.7.3. Market Opportunity Analysis
8. Global Transportation Payment Solutions Market Forecast, By Region, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.1. North America
8.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.1.3. Market Opportunity Analysis
8.2. Europe
8.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.2.3. Market Opportunity Analysis
8.3. Asia-Pacific
8.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.3.3. Market Opportunity Analysis
8.4. Latin America
8.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.4.3. Market Opportunity Analysis
8.5. Middle East and Africa
8.5.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.5.3. Market Opportunity Analysis
8.6. Global Transportation Payment Solutions Market – Opportunity Analysis Index, By Technology, System, End User, and Region, 2022-2028
9. North America Fertilizers Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
9.1. Technology Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.1.1. Contactless Payment
9.1.2. Magnetic Strip & Bar Coding
9.1.3. Near Field Communication
9.1.4. Optical Character Recognition
9.1.5. Smart Card
9.2. System Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.2.1. Electronic Tra
9.2.2. Electronic Toll Collection
9.3. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
9.3.1. Banking, financial services and insurance (BFSI)
9.3.2. Retail & eCommerce
9.3.3. Transportation & Logistics
9.3.4. Healthcare
9.3.5. Telecom & IT
9.3.6. Media & Entertainment
9.3.7. Others
9.4. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
9.4.1. USA
9.4.2. Canada
9.5. North America Fertilizers Market – Opportunity Analysis Index, By Technology, System, End User, and Country, 2022-2028
9.6. North America Fertilizers Market Dynamics – Trends
10. Europe Fertilizers Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
10.1. Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), 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 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.2.1. Electronic Tra
10.2.2. Electronic Toll Collection
10.3. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.3.1. Banking, financial services and insurance (BFSI)
10.3.2. Retail & eCommerce
10.3.3. Transportation & Logistics
10.3.4. Healthcare
10.3.5. Telecom & IT
10.3.6. Media & Entertainment
10.3.7. Others
10.4. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
10.4.1. Germany
10.4.2. UK
10.4.3. France
10.4.4. Spain
10.4.5. Italy
10.4.6. Russia
10.4.7. Rest of Europe
10.5. Europe Fertilizers Market – Opportunity Analysis Index, By Technology, System, End User, and Country, 2022-2028
10.6. Europe Fertilizers Market Dynamics – Trends
11. Asia-Pacific Fertilizers Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
11.1. Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), 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 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.2.1. Electronic Tra
11.2.2. Electronic Toll Collection
11.3. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.3.1. Banking, financial services and insurance (BFSI)
11.3.2. Retail & eCommerce
11.3.3. Transportation & Logistics
11.3.4. Healthcare
11.3.5. Telecom & IT
11.3.6. Media & Entertainment
11.3.7. Others
11.4. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
11.4.1. China
11.4.2. India
11.4.3. Japan
11.4.4. ASEAN
11.4.5. Australia & New Zealand
11.4.6. Rest of Asia-Pacific
11.5. Asia-Pacific Fertilizers Market – Opportunity Analysis Index, By Technology, System, End User, and Country, 2022-2028
11.6. Asia-Pacific Fertilizers Market Dynamics – Trends
12. Latin America Fertilizers Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
12.1. Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), 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 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.2.1. Electronic Tra
12.2.2. Electronic Toll Collection
12.3. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.3.1. Banking, financial services and insurance (BFSI)
12.3.2. Retail & eCommerce
12.3.3. Transportation & Logistics
12.3.4. Healthcare
12.3.5. Telecom & IT
12.3.6. Media & Entertainment
12.3.7. Others
12.4. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
12.4.1. Brazil
12.4.2. Mexico
12.4.3. Rest of Latin America
12.5. Latin America Fertilizers Market – Opportunity Analysis Index, By Technology, System, End User, and Country, 2022-2028
12.6. Latin America Fertilizers Market Dynamics – Trends
13. Middle East and Africa Fertilizers Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
13.1. Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), 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 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.2.1. Electronic Tra
13.2.2. Electronic Toll Collection
13.3. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.3.1. Banking, financial services and insurance (BFSI)
13.3.2. Retail & eCommerce
13.3.3. Transportation & Logistics
13.3.4. Healthcare
13.3.5. Telecom & IT
13.3.6. Media & Entertainment
13.3.7. Others
13.4. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
13.4.1. Gulf Cooperation Council (GCC) Countries
13.4.2. South Africa
13.4.3. Rest of MEA
13.5. MEA Fertilizers Market – Opportunity Analysis Index, By Technology, System, End User, and Country, 2022-2028
13.6. MEA Fertilizers Market Dynamics – Trends
14. Competition Landscape
14.1. Strategic Dashboard of Top Market Players
14.2. Company Profiles (Introduction, Financial Analysis, Key Offerings, Key Developments, Strategies, and SWOT Analysis)
14.2.1. Payvision
14.2.2. Conduent Business Services
14.2.3. NXP Semiconductors
14.2.4. EOS UPTRADE
14.2.5. Global Mass Transit
14.2.6. Indracompany
14.2.7. Ingenico
14.2.8. Nayax
14.2.9. Xerox Corporation
14.2.10. LG CNS
14.2.11. Longbow Technologies Sdn. Bhd.
14.2.12. Atos SE
14.2.13. Samsung SDS
14.2.14. Thales Group
15. Research Methodology
16. Key Assumptions and Acronyms

 


Report

Company Profile

  • 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

Description

The global transportation payment solutions market is estimated to be valued at USD 5,266.6 million in 2021 and is poised to grow at a significant CAGR of 16.8% over 2022-2028. 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.

Recent Market 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.

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