Global Smart Ticketing Market, By Product (Ticket Machine, E-Ticket, E-Kiosk, Smart Parking System, E-Toll and Request Tracker), Component (Software, Hardware and Service), Revenue Channel (Users and Suppliers), System (Smart Card, Open Payment System and Near-Field Communication System), Application (Railways and Metros, Sports and Entertainment, Airlines , Buses and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights of Smart Ticketing Market
Growing digitization of the economies especially the emerging ones, rising up gradation of existing IT infrastructure with advanced systems and rising penetration of high speed internet and smartphones especially in the developing economies such as India and China are the major factors attributable to the growth of smart ticketing market. Data Bridge Market Research analyses that the smart ticketing market will exhibit a CAGR of 14.85% for the forecast period of 2022-2029. Therefore, the smart ticketing market value would rocket up to USD 25.25 billion by 2029.
Smart ticketing is a ticket free or paper free ticketing solution wherein the travel ticket is stored electronically in a microchip in the smartcard. Passengers use smart ticketing to travel via all kinds or modes of transportation such as buses, trains, trams, and metros because these are easy to carry. Smart ticketing solution allows the passenger to not to wait in long queues.
Rising globalization and growth and expansion of travel, tourism and automotive industry will emerge as the major market growth driving factors. Growing volume of inter and intra state trade, surging focus on the development of intelligent transportation system, increasing demand for relevant mobile apps and contactless bank cards and widespread industrialization will further aggravate the market value. Growing expenditure to undertake research and development proficiencies and escalating number of cashless transactions across the globe will further carve the way for the growth of the market.
However, high setup costs for smart ticketing systems along with centralized framework will act as a growth restraint for the market. Lack of knowledge and hesitance to shift from traditional modes of ticket booking in the underdeveloped economies will further dampen the growth rate of the market. Large scale technological limitations in the underdeveloped economies and rising security and privacy concerns will further challenge the market growth rate.
This smart ticketing market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on smart ticketing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Smart Ticketing Market Scope and Market Size
The smart ticketing market is segmented on the basis of product, component, revenue channel, system and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of product, the smart ticketing market has been segmented into ticket machine, e-ticket, e-kiosk, smart parking system, E-toll and request tracker.
- Based on component, the smart ticketing market has been segmented into software, hardware and service.
- Based on revenue channel, the smart ticketing market has been segmented into users and suppliers.
- On the basis of system, the smart ticketing market has been segmented into smart card, open payment system and near-field communication system.
- The smart ticketing market, on the basis of application segment is segmented into railways and metros, sports and entertainment, airlines, buses and others.
Global Smart Ticketing Market Country Level Analysis
The smart ticketing market is analysed and market size, volume information is provided by country, product, component, revenue channel, system and application as referenced above.
The countries covered in the smart ticketing market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Europe region dominates the smart ticketing market and will continue to flourish its trend of dominance during the forecast period. This is because of the high rate of adoption of the smart ticketing system in Germany, U.K. and Sweden. Asia-Pacific region is projected to undergo substantial during the forecast period and will score the highest CAGR owing to the rising digitization of the economies and growing penetration of high speed internet.
The country section of the smart ticketing market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Smart Ticketing Market Share Analysis
The smart ticketing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to smart ticketing market.
Some of the major players operating in the smart ticketing market are Thales Group, Cubic Corporation, Infineon Technologies AG, NXP Semiconductors., INDRA SISTEMAS, S.A., HID Global Corporation, ASSA ABLOY, Softjourn, Inc., Giesecke & Devrient GmbH, Paragon Group Limited, CPI Card Group Inc, Xiamen Innov Information Technology co., LTD, Oberthur Technologies, Masabi Ltd, Rambus, Xerox Corporation., Vix Technology., Confidex Oy, Scheidt & Bachmann GmbH, and Inside Secure among others.
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