Transport Smart Card Market Size

Transport Smart Card Market size was over USD 6.21 billion in 2023 and is poised to cross USD 13.08 billion by 2036, growing at more than 5.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of transport smart card is evaluated at USD 6.5 billion.

The growth of the market can be attributed to the multi-functional nature of the travel smart cards, which are increasingly being used for bill payments, transportation, banking, and others. The increasing popularity of transport cards replacing tokens and cash, is estimated to boost the market growth. Use of these cards by daily boarders in locomotives, such as, subways, in developing and developed nations, is projected to boost the market growth. Moreover, rising innovation in technology is estimated to promote the growth of the market.