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Technavio’s market research analyst predicts that the global transit cards market will grow at a modest CAGR of close to 9% during the forecast period. One of the primary drivers for this market is the growing demand for tamper-resistant cards. Magnetic tape cards store customer details and can be altered quite easily. Tampering results in the loss and misuse of valuable information. Tamper-resistant cards are safe as the information stored in them is accessible only with a personal identification number (PIN), making it difficult to forge. Such cards provide more security and also protect against a range of issues such as hacking and misuse of passwords. Increased demand and adoption of such cards will have a significant impact on market growth over the forecast period.
In this industry report, the analysts estimate that among the different trends, the use of contactless smart cards in the transportation section will have a significant impact on the market’s growth potential over the next few years. The transportation sector is deploying contactless cards to improve security in the billing and payment processes. These cards are increasingly preferred as they enable faster identification and speed up fare payment transactions, especially at border crossings. Increased adoption of contactless smart cards will have a positive impact on the market and will also propel market growth during the forecast period.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market description
PART 06: Market landscape
PART 07: Market assumptions
PART 08: Life cycle analysis
PART 09: Global smart cards market
PART 10: Market development
PART 11: Geographical segmentation
PART 12: Market attractiveness
PART 13: Buying criteria
PART 14: Market drivers
PART 15: Market challenges
PART 16: Impact of drivers and challenges
PART 17: Market trends
PART 18: Impact of trends
PART 19: Five forces model
PART 20: Key vendor analysis
PART 21: Vendor matrix
PART 22: Description of leading vendors
PART 23: Other prominent vendors
PART 24: Appendix
PART 25: Explore Technavio
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