© 2016 Global Market Insights, Inc. USA. All Rights Reserved Bus Card Reader Market Size will witness a rapid growth to 2025

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  Bus Card Reader Market size should witness a significant growth during the forecast time period with rising adoption of electronic payment methods in the transportation business. Cashless transactions provide a secure and reliable payment option to travelers in several transportation facilities. The ease of accessing data from electronic identification cards and debit & credit cards will increase the adoption of readers in the transportation sector. The high demand for these cards among millennials to avoid the hassle of carrying cash is being witnessed.  The rise in urbanization has led to increased adoption of readers in public transport services. Transportation service providers are implementing modern solutions for enhancing security, reliability, and customer care. The adoption of card readers in public transportation allows customers to select the destination and use the card reader for payment on buses. They offer businesses and individuals secure and more convenient payment options, resulting in its high demand. Key Insights Bus Card Reader Market:

© 2016 Global Market Insights, Inc. USA. All Rights Reserved Continued…  Slow technological adoption in several countries is hindering the bus card reader market growth. Several countries are lacking in transport and economic development and are not adopting modern solutions to develop their transport facilities. For instance, in March 2019, Bangkok Mass Transit Authority (BMTA), terminated the installation of e-ticket readers in buses due to its unreliability in fares. Additionally, technical challenges faced by businesses in shifting to smart cards and the risk of losing contactless cards may hinder market growth.

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Major Companies in Bus Card Reader Market : MagTek Inc Advanced Card Systems Ltd VeriFone Holdings Inc Cardlan Group Shenzhen Rakinda Technology Co.Ltd Postech Shenzhen HCC Technology Co

© 2016 Global Market Insights, Inc. USA. All Rights Reserved The Asia Pacific bus card reader market will witness considerable growth over the coming years. The region is a manufacturing base for several market players that are focusing on the development and adoption of various solutions. Countries including Singapore, Indonesia, China, and India are rapidly adopting digitization scheme, positively impacting the demand for these readers. For instance, in November 2016, the government of India launched the demonetization initiative, which led to the digital currency adoption. Owing to the initiative, several customers/clients have adopted cashless transactions as a medium of payment. This initiative is anticipated to drive the adoption of card readers in the country. Moreover, these countries are focusing on the development of transportation infrastructure and are reducing the fares for public transport, resulting in the large-scale adoption of the transport medium. Regional Insights Bus Card Reader Market:

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