Smart Ticketing Market Research Report

 

Growth opportunities in the smart ticketing market look promising over the next six years. This is mainly due to the escalating demand in the tourism and healthcare sector and the rising popularity of blockchain.

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Smart Ticketing Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The stimulating demand for smart ticketing, primarily from the entertainment, tourism, and sports sector, is the most prominent driver contributing to the growth of the global smart ticketing market. Also, it is accounted as a remarkable revolution in the ticketing system as it is highly economical and effective for passengers to administer their travel in public transport. An individual can stack a credit amount on their tickets in advance of their travel and can pass on or recover if the ticket is lost. The surging prominence of blockchain in smart ticketing further promotes the smart ticketing market size.

The augmenting demand for contactless bank cards and mobile applications is strengthening the smart ticketing market share. These solutions are reconcilable with current systems and infrastructure. It assists in improving customer involvement through a range of value-added services and permits the passenger to examine data. In accordance with the UN, nearly 55% of the total population in 2019 resided in urban areas. The number is predicted to reach 68% by 2050, with approximately 2.5 billion people more. Governments across various nations are focussing on executing these solutions, especially in smart cities. According to the Rail Delivery Group (RDF), the boost in train journeys was led by the launch of smart tickets, with the total number reaching 65 million. However, the excessive cost associated with the setup of these systems is curbing the market size. The incorporation of different organizations in the application of solutions requires enormous investment.

Deployment Segment Drivers

Based on the component, the software is projected to witness a faster CAGR during the forecast period. This is attributed to the expanding demand to manage smart cards or smart media lifecycle. The software unmanned the individual interactions with the customer service executives, thus solving the query in less amount of time.

Smart Ticketing Market’s leading Manufacturers:

·        Conduent and Flowbird

·        Infineon Technologies AG

·        Giesecke+Devrient GmbH

·        Cubic Corporation

·        Confidex Ltd.

·        HID Global

·        Scheidt & Bachmann

·        HID Global Corporation/ASSA ABLOY AB

·        Thales Group

·        CPI Card Group Inc.

Smart Ticketing Market Segmentation:

Segmentation by Component

·        Hardware

·        Software

·        Services

Segmentation by Application

·        Parking

·        Sports & Entertainment

·        Transportation

·        Others

Segmentation by Region:

·        North America

o   United States of America

o   Canada

·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company's large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird's eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the 'Top 20 Most Promising Market Research Consultants' list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.

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