Bus Card Reader Market size should witness a significant growth during the forecast time period with rising adoption of electronic payment methods in the transportation business. Cashless transactions provide a secure and reliable payment option to travelers in several transportation facilities. The ease of accessing data from electronic identification cards and debit & credit cards will increase the adoption of readers in the transportation sector. The high demand for these cards among millennials to avoid the hassle of carrying cash is being witnessed. The advanced features of these readers include fare collection, balance inquiry, data collection, and live voice prompts. Moreover, the introduction of GPS-equipped cards to help customers in locating the bus and cheap fares with reference to the distance is expected to increase the market growth in the coming years.

The rise in urbanization has led to increased adoption of readers in public transport services. Transportation service providers are implementing modern solutions for enhancing security, reliability, and customer care. The adoption of card readers in public transportation allows customers to select the destination and use the card reader for payment on buses. They offer businesses and individuals secure and more convenient payment options, resulting in its high demand. Moreover, rising government initiatives in various countries for improving public transportation have led to the growth of the bus card reader market.

The Asia Pacific bus card reader market will witness considerable growth over the coming years. Countries including Singapore, Indonesia, China, and India are rapidly adopting digitization scheme, positively impacting the demand for these readers. Moreover, these countries are focusing on the development of transportation infrastructure and are reducing the fares for public transport, resulting in the large-scale adoption of the transport medium.