TRANSIT CARDS MARKET ANALYSIS

Transit Cards MarketSize and Trends

The worldwide transit cards market is expected to witness a rapid growth over the forecasted period, owing to the growing utilization of contactless transit cards in the transportation sector. Increasing number of transportation segments in various countries are focusing on installing a contactless cards to improve security in the payment and billing process. For example, in the U.S., the most significant transit operators are installing travel cards for fare ticketing systems. As compared to contact-based cards, contactless transit cards are convenient and easy to utilize. These cards allows for fast fare payment permitting high traveler throughput in less time, as they do not need to be scanned, inserted or swiped by the reader.

Transit Cards Market Taxonomy

On the basis of product type, the global transit cards market is segmented into:

• Contactless Transit Cards
• Contact-based Transit Cards

On the basis of component, the global transit cards market is segmented into:

• IC Micro Processor Cards
• IC Memory Cards
• Optical Memory Cards