Press release
Transit Ticketing Market Progress Rapidly Due to increasing need for efficient and convenient transportation - Rambus Incorporated, Infineon Technologies AG, AEP Ticketing Solutions
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Transit ticketing is a system used to collect fares from passengers using public transportation. The fare is usually calculated based on the distance traveled, but can also be based on time or zone. There are many different types of transit ticketing systems, but all share the common goal of collecting fares and managing passenger flow.
Transit ticketing systems can be used to collect fares from passengers using a variety of transportation modes, including buses, trains, and subways. The most common type of transit ticketing is based on the distance traveled, with fares calculated according to the length of the journey. This type of system is used by many public transportation systems around the world, including in Europe and North America.
Key Trends
There are a few key trends in transit ticketing technology that are worth mentioning.
The first is the move towards open payment systems. This means that instead of using proprietary tickets or cards, transit agencies are beginning to accept payment via credit and debit cards, as well as mobile payment apps like Apple Pay and Google Pay.
Another trend is the use of smart cards. These are cards with an embedded chip that can store information about the rider, such as fare balance and travel history.
Finally, there is a trend towards mobile ticketing. This allows riders to purchase and store tickets on their smartphone. They can then use the phone to scan a QR code or NFC tag when boarding a bus or train.
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Market Segments
The transit ticketing market is segmented by component, system, application, and region. By component, the market is classified into ticket machines, e- kiosks, e-tickets, and others. Based on the system, it is bifurcated into smart card, and smartphone. On the basis of application, it is divided into railways, buses, metros, and others. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
Key Players
The global transit ticketing market includes players such as Rambus Incorporated, Infineon Technologies AG, AEP Ticketing Solutions, Gemalto NV, NXP Semiconductors, HID, CPI Card Group Inc., Cubic Corp., Xerox Corp., and others.
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Key Drivers
The transit ticketing market is driven by several factors, including the increasing need for efficient and convenient transportation, the growing popularity of smart cards and mobile ticketing, and the increasing investment in public transportation infrastructure.
The need for efficient and convenient transportation is driven by the growing population and increasing urbanization. With the growing population, the demand for public transportation is also increasing.
The popularity of smart cards and mobile ticketing is another driver of the transit ticketing market. Smart cards and mobile ticketing offer a more convenient and efficient way to pay for transit, and they are becoming increasingly popular among riders.
The increasing investment in public transportation infrastructure is also a driver of the transit ticketing market.
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