Smart Ticketing Market Forecasts to 2028 – Global Analysis By Connectivity, Offering (Hardware, Software, Services), Organization Size, Component, Application and By Geography
According to Stratistics MRC, the Global Smart Ticketing Market is accounted for $6.72 billion in 2020 and is expected to reach $21.72 billion by 2028 growing at a CAGR of 15.8% during the forecast period. Growing adoption of contactless payments, upsurge in the intelligent transportation market, and rising adoption of wearable technologies are the major factors propelling the market growth. However, high setup costs for smart ticketing systems and centralized framework of smart ticketing systems are hampering the market growth.
Smart ticketing is the billing/ticketing system, where a prerogative to travel (a ticket), is stored electronically on a microchip rather than being issued as a paper ticket. In most smart ticketing schemes, the microchip on which a ticket is stored is embedded in a smartcard. For this reason, smart ticketing schemes are often known as smartcard schemes, although this application expands a lot further than just smartcard. Smart ticketing uses the government backed ITSO specification to allow seamless travel in both intraregional and interregional travel supported on different modes of transport. It is fast, more efficient, and saves a lot of paperwork.
Based on application, the sports and entertainment segment is going to have a lucrative growth during the forecast period owing to the increasing trend of adopting mobile ticketing in stadiums which facilitate mobile access provisions to fans while entering into the arena and accepts NFC-enabled smart phones as a contactless smart card. Further, smart ticketing options can also reduce fraudulent activities and reselling of tickets outside the stadium at extortionate prices by verified e-tickets purchased from authentic team app on exclusive mobile devices. Event providers are exploring their unique ideas to improve the ticketing experience of attendees by using software such as SAP solution that engages fans and customers in real time.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the presence of countries like China, India, Malaysia, Indonesia, and Thailand. These countries aim to develop smart cities due to the robust economic development, the surge in population, and fast urbanization. APAC nations are also getting investments, supporting advanced technologies, and creating unique solutions to enhance the quality of life. These improvements are boosting the growth of the regional smart ticketing market. There is a high significance on the growth of innovative and interoperable automated free collection systems, like smart cards and NFC-enabled devices, to boost the efficiency of transport systems as well ridership by giving commuters a streamlined travel experience. Established countries like Japan and Singapore are aiming to adopt technology-enabled transport systems by initiating hefty technology funding.
Some of the key players profiled in the Smart Ticketing Market include ACT, Atsuke, Cammax, Conduent, Confidex, Corethree, Cubic Corporation, Flowbird Group, HID Global, Hitachi Rail, IDEMIA, Indra, Infineon Technologies, Masabi, NXP Semiconductors, PayiQ, Scheidt & Bachmann, Siemens, Thales, and Xerox Corporation.
Estimated Market Size in 2020:
USD 6.72 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 21.72 billion
Tables, Graphs& Figures
Connectivity, Offering, Organization Size, Component, Application and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Cellular Network
• Near Field Communication (NFC)
• Open Payment System
• Radio-frequency Identification (RFID)
• Wireless Fidelity (Wi-Fi)
Organization Sizes Covered:
• Large Enterprises
• Small and Mid-size Enterprise (SME)
• Electronic (E)-Kiosk
• Electronic (E)-Ticket
• Electronic (E)-Toll
• Point of Sale (POS) Terminals
• Request Tracker
• Smart Cards
• Smart Card Readers
• Ticket Validators
• Ticketing Machine/Smart Ticketing Kiosk
• Ticketing Mobile Terminals
• Sports and Entertainment
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Smart Ticketing Market is majorly driven by growing adoption of contactless payments, affordable access to rapid transit with the help of smart transit systems and upsurge in the intelligent transportation market.
The sports and entertainment segment is growing at a highest CAGR owing to rising trend of adopting mobile ticketing in stadiums which facilitate mobile access provisions to fans while entering into the arena.
Asia Pacific dominated with a significant market share due to the factors such as robust economic development, the surge in population, and fast urbanization across the region.
Europe market is growing at a highest CAGR owing to the high rate of adoption of the smart ticketing system in the region.
Key players in Smart Ticketing Market include ACT, Atsuke, Cammax, Conduent, Confidex, Corethree, Cubic Corporation, Flowbird Group, HID Global, Hitachi Rail, IDEMIA, Indra, Infineon Technologies, Masabi, NXP Semiconductors, PayiQ, Scheidt & Bachmann, Siemens, Thales, and Xerox Corporation.
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