Transit Cards Market is expected to enable users to upgrade their operations and business models

A transit card is a train, bus or metros pass or ticket that provides users the access to transportation services, either as part of a specific number of pre-purchased trips or boundless trips within a limited timeframe. Growing population and urbanization in emerging economies worldwide is increasing the demand for mobility. According to Population Reference Bureau Organization, in 2016, 7,418 million people accounted for the global population up from 7,336 million in 2015. This increasing population has in turn increased demand for public transportation services in various countries worldwide. Public transportation has turned into the most favored method of transportation for individuals to avoid traffic congestion and air pollution. Travelling by trains, bus, and metros is generally more convenient, comfortable, and cost-effective. Public transport frameworks utilize modern ticketing system, such as contactless ticketing, which permits high traveler throughput, so as to make travelling more comfortable and convenient for travelers.

Request Sample Copy of Research Report @ https://www.coherentmarketinsights.com/insight/request-sample/663

The worldwide transit cards market is expected to witness a rapid growth over the forecasted period, owing to the growing utilization of contactless transit cards in the transportation sector. Increasing number of transportation segments in various countries are focusing on installing a contactless cards to improve security in the payment and billing process. For example, in the U.S., the most significant transit operators are installing travel cards for fare ticketing systems. As compared to contact-based cards, contactless transit cards are convenient and easy to utilize. These cards allows for fast fare payment permitting high traveler throughput in less time, as they do not need to be scanned, inserted or swiped by the reader.

Asia Pacific transit cards market to hold a leading position in the global transit cards market

On the basis of geography, the global transit cards market is segmented into North America, Europe, Asia Pacific, Middle East, Latin America, and Africa. The Asia Pacific region holds a leading position in the global transit cards market and is predicted to retain its dominance over the forecast period (2017- 2025). This dominance is attributed to the presence of highly populated countries such as India and China in the region, which in turn increases the demand for public transportation in the region. According to Population Reference Bureau Organization, in 2016, 4,437 million people were recorded as the census in Asia Pacific, up from 4,397 million in 2015.

Global Key Players:
Some of major companies operating in the global transit cards market include Datacard Group, Gemalto N.V, Giesecke & Devrient GmbH, Beijing Watchdata Co., Ltd. Cardlogix Corporation, Infineon Technologies AG, Eastcompeace Smart Card Co., Ltd, and 4G Identity Solutions Pvt

Transit Cards Market Taxonomy

On the basis of product type, the global transit cards market is segmented into:

Contactless Transit Cards, Contact-based Transit Cards

On the basis of component, the global transit cards market is segmented into:

IC Micro Processor Cards, IC Memory Cards, Optical Memory Cards

Request For Customization of Research Report @ https://www.coherentmarketinsights.com/insight/request-customization/663

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

This release was published on openPR.