Smart Ticketing Market Status and Development Trends 2030

Shraddha

The global Smart Ticketing Market perceives a rapid upsurge, evolving extensively. Factors such as the emergence of innovative ticketing systems and the increasing implementation of toll collection center on the highways, sea- links & flyovers worldwide substantiate the market growth. Furthermore, the savings on transaction costs brought by the smart ticketing systems boost the market shares.

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Many transit agencies are planning to introduce new smart ticketing options to aid post-pandemic recovery. The governments have switched the focus of funding for contactless ticketing for fare payment technologies, introducing smart travel cards. Also, QR-code-based ticketing installed at new automatic fare collection (AFC) gates influences the market's growth.

With the rising adoption of smart ticketing systems across government agencies and private road owners, the market is projected to grow hugely in the years to come. In this regard, Market Research Future (MRFR) asserts that the global smart ticketing market is estimated to garner a valuation of USD 11 BN by 2023, growing at 8% CAGR during the forecast period (2018-2023).

Global Smart Ticketing Market – Segments

The report is segmented into product types, system types, components, applications, and regions. The product type segment is bifurcated into e-tickets, request trackers, ticket machines, e-toll, e-kiosk, smart parking systems, and others. The system type segment is bifurcated into smart cards, open payment systems, near-field communication, and others.

The component segment is bifurcated into Hardware (card readers, cards & microchips, others) and solutions. The application segment is bifurcated into airlines, buses, sports & entertainment, railways & metros, and others. The region segment is bifurcated into the Americas, Europe, APAC, and the Rest-of-the-World.

Global Smart Ticketing Market – Regional Analysis

North America accounts for the largest market for smart ticketing globally. Factors such as the wide uptake and implementations of meticulously developed ticketing systems in the region drive the market growth. Besides, increasing investments in developing smart ticketing solutions boost the region's market shares. Spurring rise in transport and sports & entertainment sectors substantiates the market size in the region. The North American smart ticketing market is estimated to retain its dominance throughout the review period.

Global Smart Ticketing Market – Competitive Landscape

This market appears highly competitive and fragmented due to the presence of several well-established players. To gain a larger competitive share in the market, these players adopt strategies such as collaboration, acquisition, product/ technology launch, and expansion.

Key Players:

Players leading the smart ticketing market include NXP Semiconductors (US), Confidex Ltd. (Finland), Giesecke & Devrient Gmbh (Germany), ASK (France), Infineon Technologies AG (Germany), HID (US), Cubic Corporation (US), Gemalto NV (Netherlands), Xerox Corporation (US), Inside Secure (France), Smart Card IT Solutions (India), Paragon ID (France), CGI Group (Canada), Indra Sistemas (Spain), and Scheidt & Bachmann (Germany), among others.

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Industry/Innovation/Related News:

Nov.15, 2021 --- PUTCO, a leading public passenger transport company, launched a smart, convenient transport ticketing system - Smart Tap in partnership with Ticketpro, a blue label distribution company. This new electronic ticketing system featuring a Near-Field Communications (NFC) enabled smartcard would allow commuters easier access to more outlets, with longer trading hours for ticket purchases and top-ups.

Besides, Smart Tap replacing the paper-based ticketing system will help the public transport company reduce revenue leakage & frauds and gain access to real-time data for better business insights into customer behavior, giving them better solutions into the future. This system would also enable PUTCO to comply with government policies that require electronic ticketing systems integrating multiple modes of transportation.

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Smart Ticketing Market Status and Development Trends 2030

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