Smart Ticketing Market at a CAGR of 12r
Smart Ticketing Market at a CAGR of 12.9% during the forecast 2030
The Market Statsville Group (MSG) publishes the new report on the "Smart Ticketing Market by Offerings (Smart Cards, Wearables, and Readers), by Application (Transportation and Sports and Entertainment), by Region (North America, Europe, Asia Pacific, South America, and MEA) – Global Share and Forecast to 2030".
The global smart ticketing market size is expected to grow from USD 13.8 billion in 2021 to USD 41.1 billion by 2030, at a CAGR of 12.9% during the forecast period. Factors such as government regulations and initiatives also drive the growth and development of intelligent transportation. Besides, the increasing number of commercial fleets worldwide due to various factors such as the increasing e-commerce activities and manufacturing activities is encouraging many enterprises to deploy intelligent transportation systems.
Furthermore, the industry is witnessing increasing collaboration, either between public and private companies or otherwise. These strategic alliances have ensured that the companies can focus on their core strengths while working with brilliant others at what they do. For instance, Corethree Ltd, a key player in the mobile ticketing market, began a pilot (October 2019 ) with First Bus, ITSO, Ticketer, and Google, to put host card emulation on phones.
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Global Smart Ticketing Market Segmentation
The overall smart ticketing market has been segmented into the offerings, applications, and region
By Offerings Outlook (Sales, USD Billion, 2017-2030)
- Smart Cards
- Other Offerings
By Application Outlook (Sales, USD Billion, 2017-2030)
- Sports and Entertainment
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By Region Outlook (Sales, USD Billion, 2017-2030)
- North America
- The Netherlands
- Czech Republic
- Rest of Europe
- Asia Pacific
- South Korea
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Northern Africa
- Rest of MEA
Transportation is estimated to hold the largest market share
Based on application, the global smart ticketing market is categorized into transportation and sports & entertainment. In 2021, transportation had the largest market share of 80.5% in the global smart ticketing market. Further, transportation is segmented into railways, airways, and roadways. Smart ticketing majorly brings a reduced dependence on cash and other methods of payment, which itself aids smoother transitions and improved journey times, but beyond that, it also opens up the possibility of benefitting from ‘best pricing’ and other similar on-the-day discounts.
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Due to rapidly increasing demand for air travel, smart ticketing in airways is considered to have lucrative opportunities. Airway is the next most substantial energy-consuming mode of transport, including passenger and freight airplanes, in which the aircraft are configured for transporting passengers, freight, or mail.
Europe accounts for the largest market share in the smart ticketing market
Based on the regions, the global smart ticketing market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, Europe had the largest market share of 35.7% in the global smart ticketing market. Smart technologies and Intelligent Transport Systems, in particular, have a role to play in achieving goals of the use of cleaner cars and cleaner fuels destinations in Germany. Companies in the region are launching innovative products due to the rapid adoption of the technology as a default option on every transportation mode. For instance, in November 2018, UrbanThings launched its smart ticketing platform Ticketless in Detmold German city.
Mass transportation in Paris, France, is a huge business. The Regie Autonome des Transports Parisiens, Paris’ mass transit authority, is the third-largest transport network in the world, trailing only New York and Tokyo. The RATP also a world front runner in automated fare collection technology with one of the most advanced networks globally; with such a network in the region, the market is expected to boost.
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This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the smart ticketing market. It also consists of the profiles of leading companies such as Cubic Corporation, Infineon Technologies, Hid Global, Thales Group, Giesecke+Devrient, Rambus Incorporated (Visa Inc.), Confidex Ltd., Softjourn, Inc., Indra Sistemas, NEC Electronics (NEC Corporation), Conduent Inc., Paragon ID (Paragon Group Limited), and Vix Technology.
About Market Statsville Group
Market Statsville Group (MSG) is a business research and consulting platform of Statsville Consulting Private Limited, based in Oklahoma, USA. MSG is the leading market research and strategy builder with the depth and breadth of solutions that perfectly suit your every need. MSG provides solutions in a wide range of industry verticals in market sizing, analysis, and intelligent business insights. MSG has experienced research analysts who are proficient at digging deep and providing various customizable data that help you make decisions with clarity, confidence, and impact. Furthermore, Market Statsville Group already benefited more than 1,000 companies each year for their revenue planning. It helped them take their disruptions/innovations early to the market by providing them research ahead of the curve.
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