Swarco AG (Austria)
TransCore LP (U.S)
Electronic payment system and traveler information system have significant impact on the growth of
smart solutions market for mass transit
For roadways as a transportation mode the electronic payment system segment is estimated to be the
largest market. The growth is driven by the increase in efforts by governments and transportation
agencies to reduce manual cash collection and shift to advanced e-payment systems. For instance, the
Singapore government has implemented a contactless smart card which can be used to travel across the
entire public transport network. In the case of railways as a transportation mode, the traveler
information system segment is estimated to be the largest market. The system helps the passengers
with information and guidance about the upcoming stops and the route which makes their travel
experience better. For instance, in Australia the Smartraveller information system is used which
provides travel information as well as travel warnings.
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Increase in need for smart ticketing systems would give rise to demand for smart solutions market for
mass transit
The smart ticketing system is the fastest growing market in the smart public transportation market for
both roadways and railways. This growth is due to the benefits such as increased efficiency, and
reliability. This application is essential to reduce manual interference and force public transport
operators to deploy e-ticketing and integrated payment systems. As per the Rocky Mountain Institute
(U.S.) ~14% of a transportation company’s budget is spent on fare collection. Thus the system improves
a transportation company’s financial performance which has led to several mass transit operators
already implementing smart ticketing solutions. For instance, according to the annual statistics
published by the Department for Transport, U.K., out of 26.2 thousand public buses in U.K., 89% of
public buses are fitted with ITSO smart cards by 2015.
North America & Europe: Largest markets for smart solutions market for mass transit
The North American market is estimated to dominate the market for roadways as it accounted for the
largest share during the forecast period. The growth factors includes increasing roadways networks,