Global Smart Card Market in the Transportation Sector 2015-2019
About Smart Card
A smart card is a pocket-sized card, generally made of plastic, which is embedded with integrated circuits or microchips. It is used for authentication, identification, data storage, and application processing. Smart cards find a wide range of applications in the Transportation sector; they can be used as e-driving licenses or e-passports, and can also be used for payment and ticketing applications such as electronic toll and mass transit. Smart cards provide enhanced security and enable easy management in the Transportation sector.
TechNavio's analysts forecast the Global Smart Card market in the Transportation sector to grow at a CAGR of 9.53 percent over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the Global Smart Card market in the Transportation Sector for the period 2015-2019. The report does not include revenues generated from contactless smart cards used in Transportation sector.
TechNavio's report, Global Smart Card Market in the Transportation Sector 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the APAC region, Europe, Latin America, North America, and the MEA region; it also covers the Global Smart Card market landscape in the Transportation sector and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.Key Regions
TechNavio Announces the Publication of its Research Report – Global Smart Card Market in Transportation Sector 2015-2019
TechNavio recognizes the following companies as the key players in the Global Smart Card Market in Transportation Sector: ASK SA, Gemalto NV, Giesecke & Devrient GmbH and Watchdata System Co. Ltd.
Other Prominent Vendors in the market are: Athena, CardLogix, DataCar and Eastcompeace Technology.
Commenting on the report, an analyst from TechNavio’s team said: “Increased usage of contactless smart cards is a positive trend in the market. As contactless cards are more user-friendly than contact-based cards, the adoption of these cards is expected to increase significantly in France, Russia, Brazil and Malaysia in the coming years.”
According to the report, the growing need for tamper-resistant systems is a major driver in the market. Smart cards are tamper-free and their information can only be accessed by decoding the pin code, which is difficult. Therefore, smart cards help secure user data and information.
Further, the report states that high initial deployment and replacement costs are a major challenge for the vendors. Regions such as South America and the APAC region have limited penetration of local and regional vendors. As a result, the market is controlled by a small group of vendors, leading to low competition.
ASK, Gemalto, Giesecke & Devrient, Watchdata System, Athena, CardLogix, DataCard, Eastcompeace Technology
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