Transit Cards Market Best Productivity Supply Chain Relationship, Development by 2026
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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
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