DUBLIN, June 17, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Transit Cards Market 2016-2020" report to their offering.
The global transit cards market to grow at a CAGR of 8.06% during the period 2016-2020.
Global Transit Cards Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
A trend that is positively impacting the market is the emergence and use of contactless smart cards in transportation. Contactless cards are convenient and easy to use compared to contact-based cards. The transportation sector is increasingly deploying contactless e-ticket cards to improve security in billing and payment processes. Contactless smart cards are becoming the preferred choice for the transportation sector because they enable fast identity and fare payment transactions allowing high passenger throughput in less time at border crossings. The card does not have to be inserted, swiped, or scanned by the reader.
According to the report, a key driver boosting market growth is the need to reduce identity duplication. The number of fraudulent activities and forgeries are increasing along with the advances in technology. New payment methods such as EMV chips, PIN cards, and mobile wallets are gaining prominence in the transportation sector. There is a growing demand for more secure solutions because of the increasing incidences of fraudulent activities. Information stored on smart cards can be accessed using a PIN. PINs are extremely difficult to decode and make transactions more secure.
Further, the report states that one challenge that could restrict market growth is the high cost of implementation. The market is being controlled by a small set of vendors because of limited vendor penetration. The consequent low competition is resulting in high initial deployment and replacement costs.
- Giesecke & Devrient
Other prominent vendors
- Eastcompeace Technology
- 4G Identity Solutions
- Infineon Technologies
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market description
Part 06: Market landscape
Part 07: Market assumptions
Part 08: Life cycle analysis
Part 09: Global smart cards market
Part 10: Market development
Part 11: Geographical segmentation
Part 12: Market attractiveness
Part 13: Buying criteria
Part 14: Market drivers
Part 15: Market challenges
Part 16: Impact of drivers and challenges
Part 17: Market trends
Part 18: Impact of trends
Part 19: Five forces model
Part 20: Key vendor analysis
Part 21: Vendor matrix
Part 22: Description of leading vendors
Part 23: Other prominent vendors
Part 24: Appendix
For more information visit http://www.researchandmarkets.com/research/vvsbxd/global_transit
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SOURCE Research and Markets