What is Smart Card in the Transportation Market?
Smart card in transportation offers seamless safe & secure transactions. A variety of interfaces are used in routine transportation. Smart cards provide safer access to the holder and third parties who want to gain access to the card. It helps to store data in a secured manner and protect communications with encryption. Thus, daily passengers in metros, subways, and other rapid transits prefer smart cards. Increasing transportation infrastructure along with advanced technological authentication drives the demand for the market. Geographically, North America region is expected to grow with a higher growth rate over the forecast period followed by Europe and Asia Pacific owing to the presence of dense transportation network and growing research activities for the production of environmentally friendly smart cards.
The market study is being classified by Type (Contact Smart Card, Contact less Smart Card, Dual Interface and Hybrid Smart Card), by Application (Passenger Fare Payment, Access Control, Automatic Toll Collection, Road-use Pricing, Parking Fee Payment and Other Application) and major geographies with country level break-up.
Thales Group (France), Magicard Ltd (United Kingdom), IDEMIA (France), Ingenico Group S.A. (France), Giesecke + Devrient GmBH (Germany), CPI Card Group (United States), Infineon Technologies AG (Germany), HID Global Corporation (United States), Watchdata (China), Texas Instruments Incorporated (United States), Eastcompeace (China), NXP Semiconductors (Netherlands), ABCorp (United States), CardLogix Corporation (United States) and American Express Company (United States) are some of the key players profiled in the study.
The market of smart card in transportation is expected to grow with rising advanced transportation infrastructure. Several companies are operating in the market to provide excellent features of smart card for transportation sector. The market is highly fragmented with the presence of several market players. They are gaining attention owing to their innovative and novel portfolio. Thus, the market witnessing higher competitive rivalry.
Analyst at AMA have segmented the market study of Global Smart Card in the Transportation market by Type, Application and Region.
On the basis of geography, the market of Smart Card in the Transportation has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Global Transportation Infrastructure
- Increasing Preference for Public Transportation on Routinely Basis
- High Preference for Contactless Smart Card during Pandemic
- Concern regarding Virus & Malware
- Huge Cost of Smart Card Production
- Technological Advancements with Introduction of MI & AI
- Augmenting Smart Infrastructure in Public and Private Transit Systems
- Growing Demand for Smart Payment Methods in Transportation
- Higher Dependency on Electricity Availability
- Highly Expensive compare to Others
Market Leaders and some development strategies
In January 2021, IDEMIA, the global leader in Augmented Identity has established a partnership with Jyske Bank. It is the second-largest Danish-owned bank. This partnership is mainly for offering recycled PVC cards to its customers. With these strategic initiatives, both partners are able to provide eco-friendly smart offerings.
In 2020, CPI and Visa Inc. jointly launched Earthwise High Content Card. It is made up of recycled plastic. This card is EMV-compliant and dual interface. It enables contact and contactless payments. With this new launch, both companies are able to expand their portfolio in a profitable manner
Key Target AudienceSmart Card in the Transportation Manufacturers, Smart Card in the Transportation Suppliers/Distributor, Raw Material Providers, Regulatory Authorities, New Entrants/Investors, Strategic Business Planners, Governments and End Use Industry
Frequently Asked Questions (FAQ):
1. Which factors would majorly drive the Smart Card in the Transportation Market?
"Rising Global Transportation Infrastructure
" is seen as one of major growth factors of Smart Card in the Transportation Market in years to come.
2. Can we have customized study for Smart Card in the Transportation Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. Which region will lead the Global Smart Card in the Transportation Market?
will lead Smart Card in the Transportation Market in coming years.