Smart Ticketing Market Insights: The Key to Unlocking Market Dynamics and Opportunities
Category - ICT
Report Code - OMR-ICT-177
Format: PDF, PPT, and Excel
Smart Ticketing Market to Accommodate a CAGR Growth of 13.7% During Forecast, Factors such as Ease of Convenience and Increasing Number of Sporting Events to Share Growth
Smart tickets are electronic tickets typically embedded in a microprocessor on a smart card. Smart tickets have revolutionized travel by increasing passenger and transit provider efficiency and safety. Smart cards and smartphones eliminate the need for passengers to tote paper tickets by preserving and utilizing them digitally.
The worldwide spread of the COVID-19 epidemic has resulted in the closure of hotels and restaurants, the postponement of sporting and entertainment events, and the imposition of travel restrictions, all of which have negatively impacted the global economy. Those nations in the United States of America and Europe that rely significantly on the travel, visitor, hospitality, and leisure sectors have sustained the most damage.
Key Takeaways of the Smart Ticketing Market
By Component
The growing need for e-ticketing in transportation, parking, and entertainment led to hardware dominance. Components of the E-ticketing infrastructure include infrared (IR) sensors, a satellite's location (GPS), a module that connects to Wi-Fi, a ticketer tap-off reader, a ticketer smaller, a ticketer portable, and a ticketer in a case.
By Technology
RFID has accumulated the largest market share, with e-ticketing readily accessible on mobile devices, including mobile phones, tablets, ipads, and smart cards. In addition, RFID is an invisible technology that allows consumers to purchase under a range of up to 100 meters without entering a password.
By Application
The parking and transportation industry has the largest market share since increasing numbers of individuals use e-tickets on public transportation such as buses and railroads. In the digital age, the transportation sector among major cities is enduring radical transformation.
By Region
North America will likely play a prominent role in the global digital ticketing industry. North America is anticipated to dominate the smart ticketing market due to the nation's increasing demand for process-streamlining solutions and the many companies with experience developing such solutions.
Strong Post Pandemic Growth to Suggest Dominant Growth
Smart cards and smartphones eliminate the need for passengers to tote paper tickets by preserving and utilizing them digitally. Several public transportation companies worldwide are anticipated to increase their use of smart ticketing systems during the forecasted period, causing the market to expand. These solutions are efficient and affordable compared to written on paper or printed tickets. Globally increasing digital transactions are likely to stimulate market expansion further.
The global spread of the COVID-19 epidemic has resulted in the closure of hotels and restaurants, the postponement of sporting and entertainment events, and the imposition of travel restrictions, all of which have negatively impacted the global economy. Those nations in the United States and Europe that rely significantly on the travel, visitor, hospitality, alongside entertainment industries have sustained the most damage.
Integration of Smart Solution within Ticketing Systems to Account for Maximized Revenue
Using NFC technology, gadgets such as a Near Field Communication (NFC) card and a card reader, can interchange data within a range of approximately 4 centimeters. In addition, NFC technology enables swift ticket purchases and contactless payments by waving a card in front of a scanner or bringing a card close to a scanner. NFC-enabled mobile phones can be used for transactions via contactless technology, digital content availability, and pass storage for transit gateways and parking garages.
Regional administrations' use of smart tickets is also establishing new records. According to the Rail Delivery Group (RDG), a British rail industry membership organization, up to 65 million smart tickets were used for train journeys in the country. Approximately 8.4 million more journeys were taken with a smart ticket between August and September 2019 compared to the same period in 2018. According to RDG statistics, 50% of voyages now utilize smart tickets, up significantly from 37% a year ago.
Global Smart Ticketing Market Prominent Players
• Conduent, Inc. (U.S.)
• Cubic Corporation (U.S.)
• Infineon Technologies AG (Germany)
• Masabi Ltd (U.S.)
• NXP Semiconductors (Netherlands)
• Hitachi Rail Limited (U.K.)
• HID Global Corporation (U.S.)
• Siemens (Germany)
• Cammax Ltd (U.K.)
• Giesecke & Devrient GmbH (Germany)
• Gemalto Nv (Netherlands)
Report Scope for Smart Ticketing Market
Component
• Hardware
• Software
• Services
o Consulting
o Implementation
o Support & Maintenance
Offering
• Smart Ticketing Kiosk
• Ticket Validators
• Smart Cards
• E-Toll
• Others
Technology
• Near Field Communication (NFC)
• Radio Frequency Identification (RFID)
• Quick Response Code (QR Code)
• Others
Application
• Parking & Transportation
o Railways
o Airways
o Roadways
• Sports & Entertainment
Smart Ticketing Market Regional Segmentation
North America
o U.S.
o Canada
o Mexico
Europe
o Germany
o U.K.
o France
o Spain
o Italy
o Rest of Europe (RoE)
Asia Pacific (APAC)
o Japan
o China
o India
o South Korea
o Rest of APAC
Latin America
o Argentina
o Brazil
o Rest of Latin America
Middle East & Africa
o South Africa
o UAE
o Saudi Arabia
o Rest of MEA
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