Albany, NY -- (SBWIRE) -- 06/08/2016 -- About the Transit Cards Market

The increase in population and urbanization has resulted in the growing need for mobility. Public transportation has become the most preferred mode of transportation for people to avoid problems such as air pollution and traffic congestion. Traveling by buses, trains, and metros is often more comfortable, convenient, and cost-effective. To make traveling for people more convenient and comfortable, public transport systems use modern ticketing systems such as contactless ticketing, which allows high passenger throughput.

A smart card is a pocket-sized card with either an embedded integrated circuit called a microcontroller chip, which has an internal memory, or a secured memory chip. Smart cards are used mainly for security purposes for authentication, identification, data storage, and application processing. With an embedded microcontroller chip, smart cards store large amounts of data; carry out their own on-card functions such as decryption, data storage and management, digital signature calculations, and encryption; and interact quickly with a smart card reader.

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Technavios analysts forecast the Global Transit Cards Market to grow at a CAGR of 8.06% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global transit cards market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of contactless and contact-based smart cards in the transportation sector, especially public transportation. However, it does not consider the revenue generated from contactless POS validators and near-field communication (NFC) payments in the transportation sector.

The market is divided into the following segments based on geography:

APAC
Europe
MEA
North America
South America

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Technavio's report, 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.

Key vendors
Datacard
Gemalto
Giesecke & Devrient
Watchdata

Other prominent vendors

Athena
CardLogix
Eastcompeace Technology
4G Identity Solutions
Infineon Technologies

Market driver
Need to reduce identity duplication
For a full, detailed list, view our report

Market challenge
High cost of implementation
For a full, detailed list, view our report

Market trend
Emergence of contactless smart cards in transportation sector
For a full, detailed list, view our report

Key questions answered in this report
-What will the market size be in 2020 and what will the growth rate be?
-What are the key market trends?
-What is driving this market?
-What are the challenges to market growth?
-Who are the key vendors in this market space?
-What are the market opportunities and threats faced by the key vendors?
-What are the strengths and weaknesses of the key vendors?

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