TMCnet News
Research and Markets - Global Transit Cards Market 2016 - Forecasts to 2020 with Datacard, Gemalto, Giesecke & Devrient & Watchdata DominatingDUBLIN, 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. 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. Key vendors - Datacard - Athena Key Topics Covered: Media Contact: Research and Markets |