Global Bus Card Reader Market 2019-2025

The global bus card reader market is estimated to grow at a CAGR of 7.2% during the forecast period. The emerging focus on intelligent transportation systems is primarily supporting to drive the growth of the market. An increasing government moves to encourage the efficiency of bus route operations have been reported across the countries, which in turn, is resulting in the increasing demand for intelligent transportation systems. Intelligent transportation enables users to make safer, more coordinated, and smarter use of transport networks. This, in turn, leads to the rising demand for smart card readers in buses for fare payments.

It allows customers to choose the destination and employ the card reader for fare payments. Riders can use reloadable smart cards or contactless credit cards, as well as mobile e-tickets or paper tickets, allowing for quick boarding without waiting for passengers to pay onboard with cash. Therefore, smart card automated fare collection systems are being significantly used by public and private transit agencies. However, security concerns and lack of awareness are estimated to hinder the growth of the bus card reader market.

Based on geography, the global bus card reader industry is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America bus card reader market is significantly driven by the increasing adoption of smart card automated fare collection systems and well-developed transportation infrastructure in the region. However, Asia-Pacific is estimated to witness potential growth in the market owing to the increasing concept of smart cities, a significant focus on the improvement of transportation infrastructure and government initiatives for digitalization in the region.

Some crucial players in the market include Verifone Holdings, Inc., Shenzhen Cardlan Technology Co., Ltd., Advanced Card Systems Ltd., HID Global Corp., and Identiv, Inc. Partnerships & collaborations and product launches are considered as some crucial strategies adopted by the market players to expand market share and gain a competitive edge.

Research Methodology

The market study of the global bus card reader market is incorporated by extensive primary and secondary research conducted by a research team. Secondary research has been conducted to refine the available data to break down the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.

Secondary sources include:

• Financial reports of companies involved in the market
• Authentic Public Databases
• Whitepapers, research-papers and news blogs
• Company websites and their product catalog

The report is intended for the providers of IoT solutions and intelligent transportation systems for overall market analysis and competitive analysis. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.

Market Segmentation:

1. Global Bus Card Reader Market Research and Analysis by Type
2. Global Bus Card Reader Market Research and Analysis by Application

The Report covers:

• Comprehensive research methodology of the global bus card reader market.
• This report additionally includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global bus card reader market.
• Insights about market determinants which are stimulating the global bus card reader market.
• Detailed and extensive market segments with regional distribution of forecast revenues.
• Extensive company profiles and recent developments of market players.