Smart Ticketing Market

Smart Ticketing Market Share was valued at USD 7198 million in 2020 and is expected to register a CAGR of 14.1% during the forecast period.

Introduction of the Smart Ticketing Market Report

Smart ticketing is referred to as the billing or ticketing system where the ticket is stored electronically on a microchip instead of being issued as a paper ticket. The smart ticketing market is increasing in application not only in the transport sector but also in sports, entertainment, BFSI, and healthcare sector. The smart ticketing schemes are also known as smartcard schemes, even though their application is way more than a smartcard.

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Market Dynamic

Key Drivers and Emerging Trends

The increasing demand for smart ticketing, especially from the sports, entertainment, and tourism sector, is a major factor that is responsible for the growth of the global smart ticketing market size over the coming years. Smart ticketing is an exceptional innovation in the ticketing system as it is highly cost-effective and efficient for the passenger to manage their travels in public transport. An individual can load credit amount on their tickets in advance of their travel and can transfer or recover the ticket in case if the smart ticket is stolen or lost. Moreover, the rising popularity of blockchain in smart ticketing is further surging the market growth over the coming years.

The surging demand for mobile application and contactless bank cards are supported the market growth. The smart ticketing solutions are compatible with the current smart systems and infrastructure. It helps to enhance customer engagement via a range of value-added services and allows the passenger to access the passenger data. The rising urban area population is further helping the global market to grow. As per the UN, in 2019, approximately 55% of the total population lived in urban areas. It also predicts that by 2050, the number is expected to touch 68% while adding around 2.5 billion people to the urban areas. The government of various countries is emphasizing on implementing the smart ticketing solutions, especially in the smart cities. As per the Rail Delivery Group (RDF), there was an increase in train journeys due to the introduction of smart tickets, with the total number reaching to 65 million.

Restraint in the Smart Ticketing Market

On the other hand, the high cost related to the setup of smart ticketing systems is a major factor that will hamper the growth of the smart ticketing market share over the coming years. The involvement of different entities in the implementation of ticketing solutions leads to a huge amount of investment.

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Component – Segment Analysis

Based on the component, the software segment is predicted to grow at a higher CAGR during the forecast period. The increasing demand for smart card software for managing smart cards or smart media lifecycle is a major factor that is contributing to the growth of the market over the coming years. The software automated the customer interactions with the customer service executives, thus solving the individual’s query in less amount of time.

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Regional – Segment Analysis:

Based on the region, Europe region is expected to have higher CAGR during the forecast period. The region has various top smart ticketing solution vendors such as Gemalto, Infineon Technologies, and Giesecke+Devrient (Germany). There has been an increase in the demand for smart ticketing in Germany owing to the increasing tourism industry. In Paris, around 4 billion trips take place every year, thus making it one of the largest transit network countries and is providing its travelers the advantage of contactless mobile ticketing. Thus, the increasing adoption of contactless mobile ticketing solutions is further contributing to the regional market growth.

Top Market Players

Various notable players operating in the market, include Confidex Ltd., CPI Card Group Inc., Cubic Corporation, Thales Group, Giesecke+Devrient GmbH, HID Global Corporation/ASSA ABLOY AB, Infineon Technologies AG, Scheidt & Bachmann, Conduent and Flowbird, and HID Global, among others.

Key Developments:

• • In 2021, Cubic Corporation entered a contract with New York Metropolitan Transportation Authority for the upgradation of the fare payment system for the Metro-North Railroad and Long Island Railroad.
  • In 2021, Infineon Technologies AG introduced the 40 nm SLC36/SLC37 security controller platforms with high-performance 32-bit ARM SecurCore SC300 dual interface security chips. This offering will allow increased performance and better flexibility for contactless payments.
  • In 2021, Scheidt & Bachmann partnered with Pyramid Computer to support the adoption of self-checkout solution specially at the fuel retail sites.

Segments covered in the Report:

The global Smart Ticketing market has been segmented on the basis of Component, Application, and regions. Based on Component, the market is segmented into Hardware, Software, and Services. Based on Application, the market is segmented into Parking, Sports & Entertainment, Transportation, and Others. 

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Key questions answered in this research report:

• • At what pace is global Smart Ticketing market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Smart Ticketing market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Smart Ticketing market?
  • Which Component generated maximum revenues in 2019 and identify the most promising Component during the forecast period?
  • What are the various application areas of global Smart Ticketing market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Smart Ticketing Market by Component

• • Hardware
  • Software
  • Services

Global Smart Ticketing Market by Application

• • Parking
  • Sports & Entertainment
  • Transportation
  • Others

Global Smart Ticketing Market by Region

• • North America Smart Ticketing Market (Option 1: As a part of the free 25% customization)
    • North America Smart Ticketing Market by Component
    • North America Smart Ticketing Market by Application
    • US Smart Ticketing Market All-Up
    • Canada Smart Ticketing Market All-Up
  • Europe Smart Ticketing Market (Option 2: As a part of the free 25% customization)
    • Europe Smart Ticketing Market by Component
    • Europe Smart Ticketing Market by Application
    • UK Smart Ticketing Market All-Up
    • Germany Smart Ticketing Market All-Up
    • France Smart Ticketing Market All-Up
    • Spain Smart Ticketing Market All-Up
    • Rest of Europe Smart Ticketing Market All-Up
  • Asia-Pacific Smart Ticketing Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Smart Ticketing Market by Component
    • Asia-Pacific Smart Ticketing Market by Application
    • China Smart Ticketing Market All-Up
    • India Smart Ticketing Market All-Up
    • Japan Smart Ticketing Market All-Up
    • Rest of APAC Smart Ticketing Market All-Up
  • RoW Smart Ticketing Market (Option 4: As a part of the free 25% customization)
    • RoW Smart Ticketing Market by Component
    • RoW Smart Ticketing Market by Application
    • Brazil Smart Ticketing Market All-Up
    • South Africa Smart Ticketing Market All-Up
    • Saudi Arabia Smart Ticketing Market All-Up
    • UAE Smart Ticketing Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Smart Ticketing Market All-Up

Major Players Operating in the Smart Ticketing (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Confidex Ltd.
  • CPI Card Group Inc.
  • Cubic Corporation
  • Thales Group
  • Giesecke+Devrient GmbH
  • HID Global Corporation/ASSA ABLOY AB
  • Infineon Technologies AG
  • Scheidt & Bachmann
  • Conduent and Flowbird
  • HID Global