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Category: Business and Industry
Date Submitted: 07/26/2016 12:29 AM
Hexa Reports
Market Research Reports and Insightful Company Profiles
Global Transit Cards Market Share, Size, Global Insights,
Emerging Trends and Growth, Outlook and Overview,
Analysis and Forecasts 2016-2020
The increase in population and urbanization has resulted in the growing need for mobility. Public
transportation has become the most preferred mode of transportation for people to avoid problems
such as air pollution and traffic congestion. Traveling by buses, trains, and metros is often more
comfortable, convenient, and cost-effective. To make traveling for people more convenient and
comfortable, public transport systems use modern ticketing systems such as contactless ticketing, which
allows high passenger throughput.
A smart card is a pocket-sized card with either an embedded integrated circuit called a microcontroller
chip, which has an internal memory, or a secured memory chip. Smart cards are used mainly for security
purposes for authentication, identification, data storage, and application processing. With an embedded
microcontroller chip, smart cards store large amounts of data; carry out their own on-card functions
such as decryption, data storage and management, digital signature calculations, and encryption; and
interact quickly with a smart card reader.
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Technavio's analysts forecast the global transit cards market to grow at a CAGR of 8.06% during the
period 2016-2020.
Hexa Reports
Market Research Reports and Insightful Company Profiles
Covered in this report
The report covers the present scenario and the growth prospects of the global transit cards market for
2016-2020. To calculate the market size, the report considers the revenue generated from the sales of
contactless and contact-based smart cards in the transportation sector, especially public transportation.
However, it does not consider the revenue generated from contactless...