Transit Cards Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
A transit card is a train, bus or metros pass or ticket that provides users the access to transportation services, either as part of a specific number of pre-purchased trips or boundless trips within a limited timeframe. Growing population and urbanization in emerging economies worldwide is increasing the demand for mobility. According to Population Reference Bureau Organization, in 2016, 7,418 million people accounted for the global population up from 7,336 million in 2015. This increasing population has in turn increased demand for public transportation services in various countries worldwide. Public transportation has turned into the most favored method of transportation for individuals to avoid traffic congestion and air pollution. Travelling by trains, bus, and metros is generally more convenient, comfortable, and cost-effective. Public transport frameworks utilize modern ticketing system, such as contactless ticketing, which permits high traveler throughput, so as to make travelling more comfortable and convenient for travelers. Request Sample Copy of Research Report @ https://www.coherentmarketinsights.com/insight/request-sample/663 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