Virtual Payment Technologies Of Passenger Rail Transportation Global Market

28/nov/2018 07:21:09 vamshi Contatta l'autore

Passenger Rail Transportation Global Market Size :

The global passenger rail transportation market was valued at $265 billion in 2017. Asia Pacific was the largest geographic region accounting for $130.38 billion or 49.20% of the global market. China was the largest country accounting for $50.35 billion or 19% of the global passenger rail transportation market.

Passenger Rail Transportation Global Market Overview:

Most of the customers now expect service providers to accept payment through cards and digital wallets. With the development of applications like Apple pay, rail transportation service providers are also willing to offer platforms for varied payments. As customers become more aware of contactless bank cards and mobile payments, adoption of virtual payment technologies is expected to rise significantly. For example, in the UK, 46.1 million contactless card transactions were made in December 2014. Rail transportation companies such as Canada’s Via Rail are accepting electronic payments made using digital wallet MasterPass, and card payments via debit and credit cards.

Asia Pacific was the largest geographic region in the market, accounting for almost half of the global market. This can be attributed to the large population and fairly well-developed rail network in the region.

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According to The Business Research Company’s Consultant, Nitin Gianchandani, rail transportation firms are increasingly using substitute energy sources to run their station. Substitute for diesel include Hydrogen and LNG. From cost outlook, these substitute energy sources are cost saving. The latent discharge is also reduced by the use of this energy source.

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East Japan Railway Company was the largest player in the market in 2017, with revenues of $27 billion in 2016. East Japan Railway Company’s aim is to increase the complete traveler circulation by stimulating provincial economies and reviving native people.

The passenger rail transportation market is segmented into Medium-Distance Passenger Transport; Long-Distance Passenger Transport; and Short-Distance Passenger Transport.

Medium-Distance Passenger Transport from a station where they board the train to a destination station is part of medium-distance passenger transport. The right to travel is obtained by the purchase of a ticket, either in advance or at the station before boarding the train. Discounts may be offered to some passengers such as students and senior citizens.

Long-Distance Passenger Transport from a station where they board the train to a destination station is part of long-distance passenger transport. The right to travel is obtained by the purchase of a ticket, either in advance or at the station before boarding the train. Discounts may be offered to some passengers such as students and senior citizens.

Short-Distance Passenger Transport from a station where they board the train to a destination station is part of short-distance passenger transport. The right to travel is obtained by the purchase of a ticket, either in advance or at the station before boarding the train. Discounts may be offered to some passengers such as students and senior citizens.

Passenger Rail Transportation Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.

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