Global Smart Ticketing Market Insights Forecasts to 2030
- The Smart Ticketing Market Size was valued at USD 15.7 billion in 2021.
- The Worldwide Market Share is growing at a CAGR of 15.6% from 2022 to 2030
- The Global Smart Ticketing Market Size is expected to reach USD 34.8 billion by 2030
- Asia Pacific is expected to grow the fastest during the forecast period
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The global Smart Ticketing market is expected to reach USD 34.8 billion by 2030, at a CAGR of 15.6% during the forecast period 2022 to 2030. Over the projected period, the market is anticipated to rise as more public transportation operators around the world implement smart ticketing technologies. Comparing these options to paper-based or printed tickets reveals how effective and affordable they are. Globally expanding cashless transactions are another factor predicted to fuel industry expansion.
The Smart Ticketing system is a billing and ticketing system where a ticket's authority to travel is electronically saved on a microchip as opposed to being printed out. In the majority of Smart Ticketing systems, the microprocessor where a ticket is stored is often built into a smartcard. As a result, despite the fact that this application goes well beyond smartcard, Smart Ticketing schemes are frequently referred to as smartcard schemes. To facilitate smooth travel in both intraregional and interregional forms of transportation, Smart Ticketing takes use of the government-backed ITSO specification. It is quicker, more effective, and significantly reduces paperwork. Sports, entertainment, BFSI, and healthcare are just a few of the industries where the Smart Ticketing Market is becoming more and more popular. The need for transparency solutions has also increased.
This research report categorizes the market for Smart Ticketing market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Smart Ticketing market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Smart Ticketing market.
Over the course of the forecast period, market growth is anticipated to be fueled by the growing use of blockchain in smart ticketing. The global market is also expected to be driven by rising demand for mobile apps and contactless bank cards for smart ticketing systems. These ticketing options can be simply integrated with the ticketing systems because they are compatible with the current smart systems and infrastructure. Many smart ticketing apps provide users an easy-to-use interface for buying, using, and managing tickets on a mobile device. Additionally, customers can quickly and securely download tickets online. In order to enable operators to issue new cards and deliver efficient customer service, the card management system solution maintains smart cards and customer information. Passengers can use these cards to safely purchase tickets and make online payments. In order to provide complete solutions to local governments and transportation providers, smart ticketing technology connects back-office processing and analytics systems with smart cards, mobile applications, and web portals. Transaction data may be managed simply thanks to this technology. Additionally, these ticketing services assist passengers in combining several tickets for various kinds of transportation. In turn, over the course of the forecast period, this is anticipated to generate growth possibilities for the market.
Global Smart Ticketing Market Report Coverage
|Market Size in 2021:||USD 15.7 Billion|
|Forecast Period 2021-2030 CAGR:||15.6%|
|2030 Value Projection:||USD 34.8 Billion|
|Historical Data for:||2017-2020|
|No. of Pages:||201|
|Tables, Charts & Figures:||111|
|Segments covered:||By Component, By Product, By System, By End Use, By Region, COVID-19 Impact Analysis|
|Companies Covered:||CPI Card Group Inc., Cubic Corporation, Atsuke, Cammax, Conduent, Confidex Ltd., Gemalto NV, Giesecke & Devrient|
|Pitfalls & Challenges:||Due to the increasing number of COVID-19 cases|
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Data safety and security concerns linked with the usage of Smart Ticketing systems are one of the main obstacles limiting market expansion. The ability to achieve transparency in ticket booking procedures and create consistency among various participants with the aid of blockchain technology presents an opportunity to expand the global smart ticketing market.
- In 2021, the Software segment holds the highest market share over the forecast period.
Based on the component, the global smart ticketing market is segmented into Hardware, Software, Service. Among these, the software segment holds the highest market share over the forecast period. The lifecycle and applications of smart cards or other smart media are frequently managed by smart card software. Additionally, this software automates consumer interactions with customer support representatives, thereby assisting in the efficient resolution of customer problems.
- In 2021, the e-Ticket segment is dominating the market over the forecast period.
On the basis of product, the global smart ticketing market is segmented into e-kiosk, e-ticket, e-toll, request tracker, smart parking system, ticket machine, ticket validators, and others. Among these, the e-ticket segment is dominating the market over the forecast period because more people are using e-tickets for sporting events. Comparatively speaking, paper tickets are less secure than electronic tickets. The expanding use of smartphones around the world is another factor driving this segment's rise.
- In 2021, the Smart Card segment holds the largest market share over the forecast period.
On the basis of system, the market has been segmented into an open payment system, smart card, and near-field communication (NFC). The market was led by the smart card category as a result of a rise in online payment methods. Customers can use these cards to make safe and dependable payments. Additionally, ongoing improvements for credit cards contribute to the protection of private data by preventing hacking or theft through card authentication and encryption. They also have a number of further advantages, like being simple to use and requiring little human involvement.
- In 2021, the Transportation segment dominates the market over the forecast period.
On the basis of end-use, the smart ticketing market has been segmented into parking, sports and entertainment, transportation, and others. Travelers can buy, store, and validate transport tickets using their contactless credit cards or debit cards thanks to the widespread adoption of smart ticketing technology in transportation networks. These ticketing solutions provide a number of advantages, including improved client happiness, financial savings, and corporate intelligence. As a result, the usage of smart ticketing systems is anticipated to increase, notably in the transportation industry.
Regional Segment Analysis of the Smart Ticketing Market
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- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia Pacific holds the largest market share over the forecast period.
In the global smart ticketing industry, the Asia Pacific region experienced the largest market growth. Governments in developing nations like China and India are working harder to promote the usage of digital payment methods. Additionally, the Asia Pacific region's increase in smartphone penetration and propensity for technology has contributed to the market expansion.
- Google LLC and NXP Semiconductors worked together. As part of the partnership, Google LLC intended to include Google Pay with NXP Semiconductor's MIFARE contactless payment technology to enhance consumers' travel experiences by enabling them to purchase transportation privileges on their phones.
The report offers the appropriate analysis of the key organizations/companies involved within the global Smart Ticketing market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- CPI Card Group Inc.
- Cubic Corporation
- Confidex Ltd.
- Gemalto NV
- Giesecke & Devrient
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global Smart Ticketing market based on the below-mentioned segments:
Smart Ticketing Market, By Component
Smart Ticketing Market, By Product
- Request tracker
- Smart parking system
- Ticket machine
- Ticket validators
Smart Ticketing Market, By System
- Open payment system
- Smart card
- Near-field communication (NFC)
Smart Ticketing Market, By End Use
- Sports and entertainment
Smart Ticketing Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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