Global Transit Cards Market Overview:
Transit card is also known as a travel card, used while travelling by bus, train or metro which allows a customer to take unlimited trips in a fixed period of time or take a certain number of pre-purchased trips. The global transit cards market is expected to witness a robust growth rate during the forecast period due to the emerging trend of the use of contactless transit cards in transportation. Compared to the contact based cards, these contactless smart cards are easy and convenient to use. Some of the players profiled in the study are Datacard Group (United States), Cubic Corporation (United States), IBM (United States), CardLogix (United States), Mastercard Incorporated (United States), Gemalto (Netherlands), Giesecke & Devrient (Germany), Eastcompeace Technology (China) and 4G Identity Solutions (India).
On the basis of geography, the market of Transit Cards has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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). If we see Market by Component, the sub-segment i.e. IC Micro Processor Cards will boost the Transit Cards market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Need To Reduce Identity Duplication
- Easy Access and Reduce Fare
- Emergence of Contactless Smart Cards
- Public Transport Systems Use Modern Ticketing Systems Such As Contactless Ticketing
- Transit Card Transforming Into Open Payment System Owing To Introduction and Widespread
- High Cost Involved In Implementation
- Block Chain in Technology Adding Feature as A Security
- Security Related To Contactless Technology
- Lack of Standardization
- Untapped Region Due To Lack of Consumer Awareness
According to the 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 favoured method of transportation for individuals to avoid traffic congestion and air pollution.
Major Objectives Focused through this Study To define, describe, and forecast the Global Transit Cards market on the basis of product [Contactless Transit Cards and Contact Based transit Cards] , application [Traffic, Transportation and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Transit Cards market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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)
To strategically profile the key players and analyzing their market shares and core competencies in the Transit Cards industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are .
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Transit Cards market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.