Global Smart Card Market in the Transportation Sector, is expected to witness an impressive growth rate with a CAGR of 9.53 percent during the period 2014-2019.
Deerfield Beach, FL -- (SBWIRE) -- 07/17/2015 -- Global Smart Card Market in the Transportation Sector 2015-2019
A smart card is a pocket-sized card, generally made of plastic, which is embedded with integrated circuits or microchips. It is used for authentication, identification, data storage, and application processing. Smart cards find a wide range of applications in the Transportation sector; they can be used as e-driving licenses or e-passports, and can also be used for payment and ticketing applications such as electronic toll and mass transit. Smart cards provide enhanced security and enable easy management in the Transportation sector.
Global Smart Card market in the Transportation sector to grow at a CAGR of 9.53 percent over the period 2014-2019.
Smart cards are tamper-free, as the information stored in them is in the form of a pin code that cannot be decoded, which increases the safety of data stored in smart cards. This is the reason that the adoption of these cards among end-users is comparatively higher.
"The Transportation sector is increasingly deploying contactless e-ticket cards to improve security in billing and payment processes,".
"Countries such as France, Russia, Brazil, Indonesia, Poland, Malaysia, South Africa, and Canada are expected to experience high adoption of contactless smart cards in the future."
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Covered in this Report
This report covers the present scenario and the growth prospects of the Global Smart Card market in the Transportation Sector for the period 2015-2019. The report does not include revenues generated from contactless smart cards used in Transportation sector.
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.
Key Market Drivers:
Need for Tamper-resistant System
Growing Need to Reduce Identity Duplication
Ease of Usage
Popularity of E-ticketing
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Key Market Trends:
Increased Usage of Contactless Smart Cards
Increased Usage of Hybrid Cards
Growing Adoption of E-passports
Adoption of Smart Cards in Developing Countries
Key Market Vendors:
Giesecke & Devrient GmbH
Watchdata System Co. Ltd.
To define the market circumstances in the next 3-4 years, Our analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.