Transit Ticketing Market Forecasts to 2028 – Global Analysis By Component (E-Kiosk , E-Ticket, E-Toll, Ticket Machine), System (Smart Card, Smart Phone), Source (Synthetic, Natural) and By Geography
According to Stratistics MRC, the Global Transit Ticketing Market is accounted for $10.63 billion in 2020 and is expected to reach $26.33 billion by 2028 growing at a CAGR of 12.0% during the forecast period. Growth in the incidence of high-speed systems such as smart cards and the utilization of smartphones in transit ticketing are driving the market growth. However, growing capital and operating costs and unnecessary system complexity are hampering the growth of the market.
Transit ticketing can be referred to as a key and essential business for transit authority or any operator to be capable to collect costs for the travels. Ticketing is an aching point for the people who travel regularly or daily. The purchasing procedure has been taxing and concerning issues of affordability have been common for the lower-income riders.
Based on the system, the smart card segment is going to have lucrative growth during the forecast period, owing to the rising practice of smart cards in the transportation industry to smooth hassle-free travel. Smart cards aid travelers/users store and use their tickets electronically, eradicating the need for paper tickets. These cards permit users to pat their smart card on a gate, device, or validator for travel access and can also be used for parking and transit fare payments.
By geography, North America is going to have high growth during the forecast period, due to the timely acceptance of the transit ticketing in applications like rail transport and others. Additionally, the rise in the number of major key players boosts the growth of the transit ticketing market across the province.
Some of the key players profiled in the Transit Ticketing Market include Accenture, AEP Ticketing Solutions, CPI Card Group Inc., Cubic Corp, Gemalto (Thales), HID, Infineon Technologies, NXP Semiconductors, Rambus Incorporated.
• Ticket Machine
• Smart Card
• Smart Phone
• Metros and Buses
• Personal Vehicles
• 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
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- Market share assessments for the regional and country-level segments
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