Today: February 11, 2016, 4:14 pm
  
Finance

Global transportation smart cards market: 10.7% CAGR growth forecast between 2012-16

companiesandmarkets.com
companiesandmarkets.com
Global Smart Cards Market in the Transportation Sector 2012-2016 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-03-26 08:33:03
The Global Smart Cards market in the Transportation sector is to grow at a CAGR of 10.7 percent over the period 2012-2016. One of the key factors contributing to this market growth is the need for a tamper-free system. The Global Smart Cards market in the Transportation sector has also been witnessing the increasing use of contactless smart cards. However, the high initial deployment and replacement costs could pose a challenge to the growth of this market.

Contactless cards are more user-friendly than contact-based cards. The Transportation sector is increasingly deploying contactless e-ticket cards to improve security in billing and payment processes. Countries such as France, Russia, Brazil, Indonesia, Poland, and Malaysia are expected to experience high adoption of contactless smart cards in the future. South Africa and Canada are also expected to experience an intensive adoption of contactless smart cards. Instances like these are expected to contribute to the growth of the Global Smart Card market in the Transportation sector.

One of the major drivers is the need for a tamper-free system. Generally, cards embedded with magnetic tapes only store information about end-users´ accounts. These cards can be easily tampered with, resulting in loss of information or data. However, smart cards store information that can only be accessed with a pin code that is difficult to decode, thereby protecting end-users´ data.

One of the key challenges is the high initial deployment and replacement cost. Regions such as South America and the APAC region have limited vendor penetration and very few local players. As a result of this, the market is controlled by a small group of vendors, leading to low competition. This low competition is leading to high initial deployment and replacement costs.

The key vendors dominating this market space are ASK S.A., Watchdata System Co. LTd., Giesecke & Devrient GmbH, and Gemalto N.V.

Other vendors are DataCard Corp., and Eastcompeace Technology Co. Ltd.

Click for report details: www.companiesandmarkets.com/Market/Information-Technology/Market ..

Browse all Information Technology Market Research Reports www.companiesandmarkets.com/Market/Information-Technology/Market ..

Browse all Information Technology Company Profile Reports www.companiesandmarkets.com/Market/Information-Technology/Compan ..

Browse all Latest Market Research Reports www.companiesandmarkets.com/Market/All/Market-Research?aCode=f3f ..

About Us
Companiesandmarkets.com is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles, Companiesandmarkets.com’s online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.


Press Information


Published by
Mike King
London: +44 (0) 203 086 8600
e-mail
www.companiesandmarkets.com



# 525 Words
Related Articles
 
More From Finance
Arizona Real Estate Stats 2015
COMMENTARY by Tom Ruff of The Information Market Permission is granted only to ARMLS® Subscribers for reproduction with attribution [..]
Investing.co.uk Announces New Trader Counsel Services
LONDON - Jan. 25, 2016 - British financial news source Investing.co.uk has announced that it will now be offering the [..]
Credit-Yogi.com Offers Free Advice For Getting Completely [..]
Everyone has some degree of debt to deal with. Some folks have a lot of it, and they need to [..]
Offshore Processing slashes credit card processing costs [..]
High risk and high volume merchants engaged in unconventional trades, such as Adult Content, Adult Goods, Online Casinos, Online [..]
Real-Estate-Yogi Offers Free Advice to Returning Veterans [..]
Veterans of the United States are returning from active duty and need places to live. It is up to lenders [..]

Disclaimer: If you have any questions regarding information in this press release please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims the content included in this release.