DUBLIN – (COMMERCIAL THREAD)–The “Transit Cards Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2021-2026” the report was added to ResearchAndMarkets.com offer.
The global transport cards market has grown at a CAGR of around 5% during the period 2015-2020.
A transport card, or travel card, is a ticket or pocket pass issued to the passenger to make unlimited or pre-defined journeys by bus, train or metro. The card is usually made of polyvinyl chloride and consists of an on-board integrated circuit, a microcontroller and a secure memory chip.
It is mainly used for authentication and identification in public transport systems and is available in contactless, contactless, dual interface and hybrid variants. Compared to magnetic passes and paper ticketing systems traditionally used, transit cards are very reliable, convenient to use, and pose minimal risk of fraudulent activity.
The significant growth of the transport industry, along with the digitalization of technologies used for public transport, is one of the key factors creating a positive outlook for the market.
With rapid urbanization and the growing demand for efficient passenger mobility solutions, there is a growing demand for modern ticketing systems. With this in mind, the adoption of multi-application transport cards is also contributing to the growth of the market.
Various product innovations, such as the development of tamper-proof transit cards that can only be accessed with a personal identification number (PIN), are other major growth drivers. Product manufacturers are also developing advanced contactless transport cards that can be used on a radio frequency identification (RFID) device for convenient user passage.
Other factors, including a huge increase in the world’s population, as well as significant improvements in existing transport infrastructure, especially in developing countries, are expected to further stimulate the market. Looking ahead, the publisher expects the global transport card market to show moderate growth over the next five years.
Key market segmentation:
The publisher provides key trend analysis of each sub-segment of the global Transportation Cards market, along with global, regional, and country-level forecast from 2021 to 2026. Our report has categorized the market based on region, product, type and application.
Key questions addressed in this report:
How has the global transport card market performed so far and how will it perform in the years to come?
What has been the impact of COVID-19 on the global transport card market?
What are the main regional markets?
What is the distribution of the market according to the product?
What is the market breakdown according to type?
What is the market split depending on the application?
What are the different stages of the industry value chain?
What are the main factors and challenges for the industry?
What is the structure of the global transport cards market and who are the major players?
How competitive is the industry?
The competitive landscape of the industry was also examined along with the profiles of the major players.:
4G Private Ltd. Identity Solutions (Goldstone Technologies Ltd.)
Beijing Watchdata Co. Ltd.
Eastcompeace Technology Co. Ltd
Entrust the company
Giesecke & Devrient GmbH
Infineon Technologies AG
For more information on this report, visit https://www.researchandmarkets.com/r/81n2e