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Smart Ticketing Market Growth & Analysis, 2026 | Industry Report

Smart Ticketing Market Analysis Report By Component, By Product, By System, By End Use, By Region And Segment Forecasts From 2019 To 2026

Report ID: MN17616049  |  Published: September 2020  |  No of Pages: 150
Format: Electronic (PDF)  |  Industry: Technology  |  Publisher: Grand View Research

Industry Insights

The global smart ticketing market size was accounted for USD 11.3 billion in 2018. It is anticipated to grow at a CAGR of 14.9% over the forecast period, 2019 to 2026. In public transportation, the rising adoption of e-ticketing systems is projected to boost market growth. In addition, these systems are cost-effective and highly efficient than paper-based tickets. The growing cashless payment transactions is also supporting the demand for smart ticketing solutions.

Increasing trend of blockchain technology in e-ticketing is expected to surge the market growth. Moreover, growing demand for contactless smart card and mobile apps are projected to increase the need for smart ticket systems. These systems are highly compatible and can be integrated with smart solutions.

U.S. smart ticketing market

In addition, these systems provide enhanced consumer engagement through additional services. It allows access to different traveling data of passengers via the transport network. This solution also helps operators to transmit ticket data from physical to smart card.

Several e-ticketing applications offer an intuitive interface for passengers through mobile devices. Passenger can easily download e-tickets through the internet. Card management systems enables operator to provide smart cards to consumers & also provide additional support services for security concerns.

Smart ticketing tools help to integrate smart cards, web portals with analytic and back-office process unit. This solution also offers easy transaction of data. Additionally, it allows passengers to book multiple tickets with ease & convenience. All these key factors are anticipated to offer ample growth opportunities for the market.

Component Insights

The smart ticketing market is fragmented into hardware, services and software depending on the component. The software component segment is projected to grow at a substantial rate during the forecast period.  Software solutions help in managing smart card transactions & its applications. These solutions also benefits customer through customer interaction services.

Service type segment is anticipated to grow at the fastest CAGR from 2019 to 2026. In the travel sector, growing trend of digitalization is proliferating the demand for ticketing service. Ticketing as a service (TaaS) helps to measure accurate fare requiring for passengers while traveling.

Product Insights

The market is divided into e-ticket, e-kiosk, request tracker, smart parking systems, ticket validators, ticket machines, e-toll and others. In 2018, the e-ticket type segment led the market with the highest share in the market. E-tickets provide greater security than paper-based ticketing solutions. The increasing numbers of mobile devices are supporting the segmental growth.

Smart parking systems segment is anticipated to grow at the fastest CAGR during the forecasted period. Development in smart parking technologies has paved the way for the adoption of smart cards. In addition, rising traffic concerns are boosting demand for smart solutions.

System Insights

Systems are comprised of smart card, near-field communication and open payment system. In 2018, smart card typesegment led the market with the highest share, due to growing use of online payment solutions. Continuous innovation in smart card solutions helps to prevent data hacking, throughencryption and authentication.

Near-filed communication system segment is anticipated to propel at the fastest CAGR during the forecasted period. These NFC based systems are used at parking, garages, and transportation gates with contactless card transaction. It also provides secured payment option with less human interventions.

End Use Insights

Depending on end use, the smart ticketingmarket is fragmented into transportation, sports & entertainment, parking and others. In transportation sector, smart ticketing tools enables information storage, purchase, tickets validation through debit cards, and credit cards. In addition, these smart ticket systems offer various benefits such as business intelligence and cost saving.

Europe smart ticketing marketSports & entertainment segment is estimated to register fastest CAGR from 2019 to 2026. Various sports event organizers focus on enhancing consumer experience through more advanced ticketing and convenient solutions. This reduces cash flows & provides fast service to consumers.

Regional Insights

In 2018, Europe accounted for over USD 4.1billion in the overall market. European countries focus on providing advanced & rapid transport service to public.The presence of global players including Gemalto NV, Infineon Technologies, Gisecke & Devrient GmbH is also contributing to market growth. The adoption of technologies such as NFC, bar code, QR code is increasing the need for ticketing solutions.

Asia Pacific is projected to register a highest CAGR from 2019 to 2026. Supportive government initiatives across India, and China for digital payment mode expected to bolster the market growth in the coming few years. For example, government of India has introduced Digital India initiative to promote digital activities.

Impact of COVID-19

COVID-19 pandemic has significantly impacted the market. Public travel, international visits have been banned owing to lockdown, and social distancing regulations. Thus, due to coronavirus crisis, public transport providers have to deal with reduced number of passengers.

However, the market is projected to grow at healthy rate over the forecast period. Step by step, restaurants, shops, and schools are getting back to the normal. This is projected to boost the need for public transport facilities. Amid coronavirus crisis, owing to healthcare measures the people prefer to buy tickets from online sources.Hence, passengers are purchasing tickets through fast and easy ways including scan & pay, QR codeand ID-based ticketing solutions.

Smart Ticketing Market Share Insights

Leading players in the market include, Cubic Corporation; CPI Card Group, Confidex Ltd, Giesecke&Devrient GmbH, Gemalto NV, NXP Semiconductors and Infineon Technologies AG.

Major companies engage in new product development, innovations and strategic partnershipsto expand their reach across the globe. For example, in 2018, NXP Semiconductors have partnered with Google LLC to develop contactless solution using Google Pay platform. Key players in the market invest in R&D activities to develop new ticketing solutions.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2026

Market representation

Revenue in USD Billion & CAGR from 2019 to 2026

Regional scope

North America, Europe, Asia Pacific, Latin America & Middle East & Africa

Country scope

U.S.,Canada,Germany, U.K.,China, India, Japan, and Brazil.

Report coverage             

Revenue forecast, company ranking, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional,and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2015 to 2026. For the purpose of this study, Million Insights has segmented the global smart ticketing market report on the basis of component, product, system, end use and region:

• Component Outlook (Revenue, USD Billion, 2015 - 2026)
    • Hardware
    • Software
    • Service

• Product Outlook (Revenue, USD Billion, 2015 - 2026)
    • E-kiosk
    • E-ticket
    • E-toll
    • Request Tracker
    • Smart Parking System
    • Ticket Machine
    • Ticket Validators
    • Others

• System Outlook (Revenue, USD Billion, 2015 - 2026)
    • Open Payment System
    • Smart Card
    • Near-field Communication

• End Use Outlook (Revenue, USD Billion, 2015 - 2026)
    • Parking
    • Sports & Entertainment
    • Transportation
    • Others

• Regional Outlook (Revenue, USD Billion, 2015 - 2026)
    • North America
        • U.S.
        • Canada
    • Europe
        • Germany
        • U.K.
    • Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
    • Middle East & Africa (MEA)

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