Market Analysis: Global Smart Ticketing Market
The global smart ticketing market is expected to reach USD 9.856 billion by 2025, from USD 5.9 billion in 2017 growing at a CAGR of 9.2% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2018 to 2025.
Market Definition: Global Smart Ticketing Market
This market report defines the market trends and forecast the upcoming opportunities and threats of the smart ticketing market in the next 8 years. Smart ticketing is a system, which automatically stores a travel ticket on a microchip, which is usually fixed on a smartcard. Smartcard allow customers of public carriage to flawlessly step on and off buses, or trains without using outdated payment systems. Smart ticketing systems are embedded with water-resistant features, which increase life of the ticket which is longer when compared to a typical paper ticket. Manufacturers are gradually configuring artificial intelligent technology in the smart ticketing systems to increase the market. Features like fingerprint recognition and ultra-touch fingerprint sensors, will increase smart ticketing system demand in various industries. Smart ticketing market is not only restricted to the transport industry, but, it also gains popularity in sports, entertainment, BFSI, and healthcare. The information technologies like QR code, NFC, RFID, barcode, local wireless ticketing, and open payment systems helps the smart ticketing companies to provide smart solutions to different industries.
Major Market Drivers:
- Availability of smart transit systems in reasonable prices.
- Evolving new application in travel and tourism industry
- Acceptance of smart technologies.
- Easily accessible platform
- Huge amount of funds required.
- Consolidated structure for smart ticketing systems.
Market Segmentation: Global Smart Ticketing Market
- The global smart ticketing market is segmented into product, system, component, application and by geography.
- Based on product, the global smart ticketing market is segmented into ticket machine, e-ticket, e-kiosk, smart parking system, e-toll, request tracker and others.
- On the basis of component, the global smart ticketing market is segmented into hardware and software. Hardware is further sub segmented into POS terminal equipment, cards and microchips and card reader.
- On the basis of system, the global smart ticketing market is segmented into smart card, open payment system, and near-field communication system. The smart card is further sub segmented into chip-based RFID and chipless RFID.
- On the basis of application, the global smart ticketing market is segmented into railways and metros, sports and entertainment, airlines and buses. Sports and entertainment is further segmented into malls, stadium and museum.
- Based on geography, the global smart ticketing market report covers data points for 28 countries across multiple geographies namely north America & south America, Europe, Asia-pacific and, middle east & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, turkey, Russia, china, India, south Korea, japan, Australia, Singapore, Saudi Arabia, south Africa and, brazil among others.
Competitive Analysis: Global Smart Ticketing Market
The global smart ticketing market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of smart ticketing market for global, Europe, North America, Asia pacific and South America.
Major Market Competitors/Players: Global Smart Ticketing Market
Some of the major players operating in the global smart ticketing market are Gemalto NV, Cubic Corporation, Infineon Technologies AG, NXP Semiconductors., Xerox Corporation., HID Global Corporation/ASSA ABLOY AB., Giesecke & Devrient GmbH, CPI Card Group Inc., Confidex Ltd., IAC Publishing, LLC, Oberthur Technologies, Rambus.com., Xerox Corporation., Vix Technology., Scheidt & Bachmann GmbH, HID Global Corporation/ASSA ABLOY AB., Inside Secure among others.
Research Methodology: Global Smart Ticketing Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
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