Analysis of the Smart Ticketing Market: Assessment of Market Size, Trends, Statistics, and Competitors
Global Smart Ticketing Market by Component(Hardware, Software, and Services), by Offering (Smart Ticketing Kiosk, Ticket Validators, Smart Cards, E-Toll, and Others), by Technology (Near Field Communication (NFC), Radio Frequency Identification (RFID), Quick Response Code (QR Code), and Others), by Application (Parking & Transportation and Sports & Entertainment), and by Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Market Size, Share, COVID-19 Impact, Regional Analysis & Forecast Till 2030
Category - ICT
Report Code - OMR-ICT-177
Format: PDF, PPT, and Excel
Smart Ticketing Market Overview
Smart tickets are digital tickets often included on a microchip on a smart card. Smart ticketing has revolutionized how we travel by increasing efficiency and safety for passengers and transit providers. By storing and utilizing them digitally, smart cards and smartphones save travelers from the trouble of carrying paper tickets. Over the projected period, the market is predicted to rise due to an increase in the use of smart ticketing systems by several public transportation firms around the globe. These solutions are effective and affordable compared to paper-based or printed tickets. A rising number of cashless transactions around the globe is further likely to fuel market growth. Passengers may enjoy a more streamlined trip with the help of smart ticketing systems. Moreover, these technologies boost client engagement via various value-added services. Transportation providers can leverage data from these ticketing solutions to serve their customers better. The global market is expected to be partly propelled by the rising demand for smart ticketing systems that use mobile applications and contactless bank cards. These ticketing solutions can be readily integrated with the ticketing systems since they are compatible with current smart systems and infrastructure. The most common applications for electronic ticketing systems are in public transit and sporting events. The global spread of the COVID-19 epidemic has resulted in the closing of hotels and restaurants, the postponement of sporting and entertainment events, and travel restrictions, all of which have hurt the global economy.
Smart Ticketing Market Growth Factors
Advanced Technologies Integration Within Ticketing Solutions Will Fuel Market Growth
Public transit, concerts, and sporting events all use smart ticketing systems. The efficiency of the ticketing system may be greatly improved by using cutting-edge technology like near-field communication (NFC). Within a range of around 4 centimeters, electronic devices, such as an NFC card and a card reader, may exchange data using NFC technology. In addition, NFC technology permits speedy ticket purchases and contactless payments by the wave of a card or the proximity of a card to a scanner. Safe contactless transactions, digital content access, and ticket storage for transit gates and parking garages are examples of how NFC-enabled cell phones are used. Multiple sporting and entertainment events are jumping on the mobile ticketing bandwagon. Several major American football arenas and European teams have started using mobile ticketing. This practice is likely to grow in popularity in Europe as more and more spectators enter stadiums through mobile access arrangements. Such enthusiasm has the potential to slow smartcard expansion throughout the predicted time frame. The use of smart tickets by regional governments is also setting new records. For instance, the Rail Delivery Group (RDG), a British rail sector membership organization, reports that as many as 65 million smart tickets were used for train rides in the country. About 8.4 million more trips were taken using a smart ticket in the four weeks between August and September of 2019 compared to the same time in 2018. According to RDG stats, smart tickets are now selected for 50% of journeys, up considerably from 37% a year earlier.
Growing Number of Sporting Events and Widening Tourism Sector Will Produce Viable Sales of Smart Ticketing Systems
Increased digitization and better connection are driving the digital transformation of transportation networks. The shift is happening in metropolitan regions worldwide to deliver better services, boost efficiency, and increase happiness among city dwellers. Public transit networks and sports and entertainment sectors are widely adopting electronic ticketing systems to attract customers due to their speed, security, and ease of use. Purchasing tickets through the system is a time- and money-saving option for travelers taking public transportation. Its durability and portability make it a convenient option for travelers. Users may also prepay for their tickets by adding credit to them. There are a variety of smart ticketing applications that give travelers a simple way to buy, use, and manage tickets on the go. In addition, customers may easily and safely download tickets online. Operators can issue new smart cards and provide efficient customer service thanks to the card management system solution, which centrally stores and maintains data on cardholders and their cards. Online ticket purchases and payments are made safely with the help of these cards. Smart ticketing technology provides local governments and transportation providers with end-to-end solutions by seamlessly integrating back-end processing and data analytics systems with electronic wallets, mobile applications, and web portals. With this technology, dealing with financial records is a breeze. In addition, these ticketing systems allow passengers to combine tickets for several forms of transportation into a single transaction. As a result, the market should see increased potential for expansion in the next years. Electronic ticketing systems are extensively employed in the transit, sports, and entertainment industries because of their ease, speed, and security. It offers various advantages to those who ride in it, including durability and portability. In addition, the customer can prepay for tickets by crediting their account with a certain amount.
Smart Ticketing Industry Segmentation
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
Component Insight
Hardware Domain to Exert its Dominance as These Devices Offer Extreme Convenience During Usage
The global market can be split between hardware, software, and services based on component.
Increased demand for e-ticketing in the transit, parking, and entertainment industries led to hardware dominance. E-ticketing infrastructure components include infrared (IR) sensors, a global positioning system (GPS), a Wi-Fi module, a ticketer tap-off reader, a ticketer compact, a ticketer portable, and a ticketer in a case. Sports and entertainment events, train and bus parking, toll booths, and others rely heavily on virtual tickets stored in high-security smart cards and cellphones.
The market for services is anticipated to grow at the fastest rate. The projection year will likely see development in the service sector due to the increasing digitization of ticketing services to create a more comfortable travel experience for travelers. Using ticketing as a service (TaaS), travelers may easily transition between different modes of transportation and have their fares automatically calculated.
Offering
RFID Technology to Have Greatest Impact Owing to Wider Implementation within Systems
Based on the technology, the global market can be fragmented across near-field communication (NFC), radio frequency identification (RFID), quick response code (QR Code), and others.
Radio frequency identification has amassed the highest market share, with e-ticketing readily available on mobile devices such smartphones, tablets, ipads, and smart cards. In addition, radio frequency identification (RFID) is a wireless technology that doesn't need consumers to input a password to purchase within a range of up to 100 meters. Tags may be identified and tracked using this technology thanks to electromagnetic fields. Customers worldwide utilize this technology to pay for public transit using e-tolls in a streamlined manner.
The market for near-field communication is anticipated to grow at the fastest rate throughout the projection time frame. NFC systems provide a safe and convenient way to make purchases. These systems have several uses, including contactless card payments and ticket storage for transit gateways and parking garages. As a result, this should fuel the segment's expansion over the next years.
Application Insight
Parking and Transportation Locations to Account for Largest Revenue Share Owing to Rising Number of Smart Cities
The global market can be differentiated into parking & transportation and sports & entertainment based on application.
Since more and more people use electronic tickets on public transit like buses and trains, the parking and transportation sector has the biggest market share. The transportation industry in major cities is undergoing radical change in the digital age. The industry is expected to expand over the next few years as more and more bus and rail companies in "smart cities" worldwide switch to mobile ticketing systems instead of using physical tokens or paper tickets.
The estimate suggests that the sports and entertainment industry would be the fastest-growing end-use sector. Ticketing alternatives in the sports sector always evolve, intending to make the customer's experience as positive as possible. Smart ticketing solutions make reduced cash flow and consumer wait times outside stadiums possible. Consequently, digital ticketing systems are growing rapidly in the sports business.
Regional Insights
North America to Produce Largest Market Hold Owing to Supportive Infrastructure
The global market can be segregated across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa based on geography.
The worldwide smart ticketing industry will likely expand, with North America playing a particularly large role. North America is expected to lead the smart ticketing market due to the region's growing need for process-streamlining solutions and the region's abundance of firms with experience developing such solutions. Key market companies, including Conduent, Inc., HID Global Corporation, Masabi Ltd., and others, are based in the area, which bodes well for the industry's growth, as is the increasing use of cutting-edge technology. Smart ticketing in several areas of the region has been made possible by the widespread availability of NFC-enabled cell phones.
The Asia-Pacific region is projected to expand throughout the projection horizon. The rise of the smart ticketing industry in Asia is primarily driven by the region's rapid urbanization and the increasing adoption of IoT devices like smartphones. The industry should also be bolstered by the fact that major players in the market are focusing on expanding their operations in rising economies such as India, China, and Indonesia. The rising popularity of smartphones in Asia and the Pacific has increased the need for mobile-friendly ticketing software. To help Japanese municipalities become more self-sufficient, organizations like the Japan Smart Community Alliance (JSCA) are working to develop cutting-edge technology like smart ticketing.
The expansion of the European market may be traced in part to the concentration of several of the industry's most important firms there, including Giesecke & Devrient GmbH, Gemalto NV, and Infineon Technologies AG. Companies providing smart ticketing systems have been motivated by technological developments to implement barcode, QR code, and near-field communication (NFC) technologies. With over 4 billion annual rides, Paris Region is one of the world's largest transit networks. Thanks to Calypso's open transit standard, it now offers passengers the convenience of contactless mobile ticketing, which is backward-compatible with the contactless readers already in place. Companies like Wizway Solutions have allowed numerous major transport authorities and operators to offer contactless smartphone ticketing.
Smart Ticketing Industry Analysis
Industry leaders are bolstering their regional footprints by partnering with smart ticket operators and developers to provide customers with streamlined payment options. These businesses also use big data analytics and linked devices to monitor customer transportation. Operators can better serve their customers by learning more about their habits as they travel.
The leading companies in the industry are working hard to provide cutting-edge electronic ticketing solutions for parking and transit and sports and entertainment applications. In addition, businesses are teaming up with rivals in the industry to meet the rising need of consumers. Companies are also spending much on R&D to create innovative new technologies.
Smart Ticketing Market Recent Developments
• In June 2022, Conduent Transportation, a division of Conduent Incorporated, has announced that Helsingin Seudun Liikenne (HSL), the Helsinki Region Transport Authority, has selected Conduent to install a next-generation fare collecting system across HSL's bus, tram, rail, metro, and ferry network. In 2021, HSL's public transportation services served 238 million riders.
• In June 2022, HID Global and the Hubert Curien Laboratory have launched a collaborative research project to develop secure citizen identity documents.
• In November 2022, the agreement between Infineon and Stellantis covers the delivery of silicon carbide (SiC) chips over the years.
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)
Frequently Asked Questions (FAQs)
At what rate will the Smart Ticketing Market Expand?
According to Objective Market Research, the market for smart tickets is projected to grow at a CAGR of 13.7% over the forecast period.
What are the factors driving the global Smart Ticketing Market?
The global smart ticketing market will grow during the forecast period owing to various contributing factors such as a rising number of sporting events, increasing preference for cashless transactions, increasing popularity of blockchain technologies, and widening compatibility with previous infrastructure.
Which segment accounted for the largest Smart Ticketing Market share by Application?
The parking and transportation industry has the largest market share due to the increasing use of electronic tickets on public transit, such as buses and railroads. In the digital age, the transportation industry in major metropolitan areas is enduring profound transformations.
What region holds the major share in the global market scape?
North America is anticipated to dominate the smart ticketing market due to the region's increasing demand for process-streamlining solutions and the region's abundance of companies with experience developing such solutions.
Which are the dominating players in the market during the forecast period?
Some market leaders in the global smart ticketing market are Conduent, Inc. (U.S.), Cubic Corporation (U.S.), Infineon Technologies AG (Germany), Masabi Ltd (U.S.), NXP Semiconductors (Netherlands), and Hitachi Rail Limited (U.K.), among others.
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Table of Content
1. Introduction
1.1 Market Definition
1.2 Objective of the Study
1.3 Market Scope
1.4 Years Considered in the Study
1.4.1 Historic Year: 2019-2021
1.4.2 Base Year: 2022
1.4.3 Forecast Period: 2023-2030
1.5 Currency Used in the Study
1.6 Boundaries for the Study
1.7 Collaborators/Stakeholders/Benefactors
2. Research Methodology
2.1 Research Outline
2.2 Data Collection Methods
2.3 Data Sources
2.3.1 Secondary Sources
2.3.1.1 Paid Sources
2.3.1.2 Unpaid Sources
2.3.2 Primary Sources
2.4 Market Estimation Methodology
2.4.1 Top-Down Approach
2.4.2 Bottom-Up Approach
2.5 Data Triangulation
2.6 Assumptions of the Study
2.7 Limitations of the Study
3. Executive Summary
3.1 Market Outlook
3.2 Analysts Perspective
4. Market Overview
4.1 Market Dynamics
4.1.1 Drivers
4.1.1.1. Integration of Advanced Technology
4.1.1.2. Rising Number of Sporting Events
4.1.2. Restrain
4.1.2.1. Higher Installation Cost
4.1.3. Opportunities
4.1.3.1. Improving Tourism
4.1.4. Impact of Market Dynamics
4.2. Impact of COVID-19 pandemic
4.3. Value Chain Analysis
4.4. Porter’s Five Forces Analysis
4.4.1. Bargaining Power of Buyers
4.4.2. Bargaining Power of Suppliers
4.4.3. Threat of Substitution
4.4.4. Threat of New Entrants
4.4.5. Competitive Rivalry
5. Global Smart Ticketing Market Analysis & Forecast, by Component from 2019-2030 (in USD million)
5.1. Hardware
5.2. Software
5.3. Services
5.3.1. Consulting
5.3.2. Implementation
5.3.3. Support & Maintenance
6. Global Smart Ticketing Market Analysis & Forecast, by Offering from 2019-2030 (in USD million)
6.1. Smart Ticketing Kiosk
6.2. Ticket Validators
6.3. Smart Cards
6.4. E-Toll
6.5. Others
7. Global Smart Ticketing Market Analysis & Forecast, by Technology from 2019-2030 (in USD million)
7.1. Near Field Communication (NFC)
7.2. Radio Frequency Identification (RFID)
7.3. Quick Response Code (QR Code)
7.4. Others
8. Global Smart Ticketing Market Analysis & Forecast, by Application from 2019-2030 (in USD million)
8.1. Parking & Transportation
8.1.1. Railways
8.1.2. Airways
8.1.3. Roadways
8.2. Sports & Entertainment
9. Global Smart Ticketing Market Analysis & Forecast, by Region from 2019-2030 (in USD million)
9.1. North America
9.1.1. North America Smart Ticketing Market Analysis & Forecast, By Country
9.1.1.1. U.S.
9.1.1.2. Canada
9.1.1.3. Mexico
9.1.2. North America Smart Ticketing Market Analysis & Forecast, By Component
9.1.3. North America Smart Ticketing Market Analysis & Forecast, By Offering
9.1.4. North America Smart Ticketing Market Analysis & Forecast, By Technology
9.1.5. North America Smart Ticketing Market Analysis & Forecast, By Application
9.2. Europe
9.2.1. Europe Smart Ticketing Market Analysis & Forecast, By Country
9.2.1.1. Germany
9.2.1.2. UK
9.2.1.3. France
9.2.1.4. Spain
9.2.1.5. Italy
9.2.1.6. Rest of Europe (RoE)
9.2.2. Europe Smart Ticketing Market Analysis & Forecast, By Component
9.2.3. Europe Smart Ticketing Market Analysis & Forecast, By Offering
9.2.4. Europe Smart Ticketing Market Analysis & Forecast, By Technology
9.2.5. Europe Smart Ticketing Market Analysis & Forecast, By Application
9.3. Asia-Pacific (APAC)
9.3.1. Asia-Pacific Smart Ticketing Market Analysis & Forecast, By Country
9.3.1.1. Japan
9.3.1.2. China
9.3.1.3. India
9.3.1.4. South Korea
9.3.1.5. Rest of the APAC
9.3.2. Asia-Pacific Smart Ticketing Market Analysis & Forecast, By Component
9.3.3. Asia-Pacific Smart Ticketing Market Analysis & Forecast, By Offering
9.3.4. Asia-Pacific Smart Ticketing Market Analysis & Forecast, By Technology
9.3.5. Asia-Pacific Smart Ticketing Market Analysis & Forecast, By Application
9.4. Latin America
9.4.1. Latin America Smart Ticketing Market Analysis & Forecast, By Country/Region
9.4.1.1. Argentina
9.4.1.2. Brazil
9.4.1.3. Rest of Latin America
9.4.2. Latin America Smart Ticketing Market Analysis & Forecast, By Component
9.4.3. Latin America Smart Ticketing Market Analysis & Forecast, By Offering
9.4.4. Latin America Smart Ticketing Market Analysis & Forecast, By Technology
9.4.5. Latin America Smart Ticketing Market Analysis & Forecast, By Application
9.5. Middle East & Africa
9.5.1. Middle East & Africa Smart Ticketing Market Analysis & Forecast, By Country/Region
9.5.1.1. South Africa
9.5.1.2. UAE
9.5.1.3. Saudi Arabia
9.5.1.4. Rest of Middle East & Africa
9.5.2. Middle East & Africa Smart Ticketing Market Analysis & Forecast, By Component
9.5.3. Middle East & Africa Smart Ticketing Market Analysis & Forecast, By Offering
9.5.4. Middle East & Africa Smart Ticketing Market Analysis & Forecast, By Technology
9.5.5. Middle East & Africa Smart Ticketing Market Analysis & Forecast, By Application
10. Competitive Landscape
10.1. Market Share Analysis (2022)
10.2. Market Positioning of Top Players (2022)
10.3. Key Developments & Growth Strategies (2020-2022)
10.3.1. Product Launches
10.3.2. Merges, Collaborations & Agreements
10.3.3. Expansion
10.4. SWOT Analysis
11. Company Profiles (Business Overview, Products Offered, Financial Details*, Recent Developments)
11.1. Conduent, Inc. (U.S.)
11.1.1. Company Snapshot
11.1.2. Business Overview
11.1.3. Financial Data
11.1.4. Key Products Offered
11.1.5. Recent Developments
11.2. Cubic Corporation (U.S.)
11.3. Infineon Technologies AG (Germany)
11.4. Masabi Ltd (U.S.)
11.5. NXP Semiconductors (Netherlands)
11.6. Hitachi Rail Limited (U.K.)
11.7. HID Global Corporation (U.S.)
11.8. Siemens (Germany)
11.9. Cammax Ltd (U.K.)
11.10. Giesecke & Devrient GmbH (Germany)
11.11. Gemalto Nv (Netherlands)
11.12. Others
12. Appendix
12.1. Currency Exchange Rate to USD
12.2. Abbreviations
* Financial details captured might be subjected to information available and not be given for privately-held companies or for companies that do not report it in the public domain