DUBLIN, Mar. 20, 2015 /PRNewswire/ --Research and Markets
(http://www.researchandmarkets.com/research/74ddc5/global_smart_card) has announced the addition of the "Global Smart Card Market in the Transportation Sector 2015-2019" report to their offering.
The analysts forecast the Global Smart Card market in the Transportation sector to grow at a CAGR of 9.53 percent over the period 2014-2019.
The report, Global Smart Card Market in the Transportation Sector 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the APAC region, Europe, Latin America, North America, and the MEA region; it also covers the Global Smart Card market landscape in the Transportation sector and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Increased usage of contactless smart cards is a positive trend in the market. As contactless cards are more user-friendly than contact-based cards, the adoption of these cards is expected to increase significantly in France, Russia, Brazil and Malaysia in the coming years.
According to the report, the growing need for tamper-resistant systems is a major driver in the market. Smart cards are tamper-free and their information can only be accessed by decoding the pin code, which is difficult. Therefore, smart cards help secure user data and information.
Further, the report states that high initial deployment and replacement costs are a major challenge for the vendors. Regions such as South America and the APAC region have limited penetration of local and regional vendors. As a result, the market is controlled by a small group of vendors, leading to low competition.
- Giesecke & Devrient
- Watchdata System
Other Prominent Vendors
- Eastcompeace Technology
For more information visit http://www.researchandmarkets.com/research/74ddc5/global_smart_card
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SOURCE Research and Markets