Industry Insight
Mobile ticketing plays a fundamental role in the information and technology industry. The global mobile ticketing market depends on this factor significantly, and based on this, it could expect an impactful growth of ~19% CAGR during the forecast period (2016-2022), reveals Market Research Future (MRFR) in an extensively studied report. At this pace, the market will be gaining a valuation of USD ~4026 Million within the same timeframe.
Top Impacting Factors
Mounting preference of customers in order to obtain, order, validate, and pay for tickets suitably has led to a surge in demand for the mobile ticketing market in recent years. In fact, reduced distribution and production costs related to traditional ticketing channels based on paper have also shown some positive side that could fuel the growth of the market in the coming years. At the same time, urbanization has been one of the significant factors leading the market to gain considerable valuation.
Mobile tickets can be purchased through some of the trusted and secure mobile applications, via text messages, voice calls, online and WAP pages. Therefore, attributed to convenient, simple, and new ways to purchase tickets, the global mobile ticketing market is probable to witness high growth in the forecast period. Moreover, various trends, such as a rapid rise in the adoption of Smartphones, has further fuelled demand for mobile ticketing globally.
Some more factors, such as the wide adoption of Smartphones has optimistically impacted the escalation of the global mobile ticketing market. This trend is possible to continue in the imminent years. Additionally, it is opportune to manage to book a ticket without any need to commute to the ticketing counter while dealing with a busy lifestyle. Furthermore, many companies are witnessed to gradually partner with ticketing agents to start online portals for customers to easily login at any place and time for booking tickets online. Such factors are notably propelling demand for the global mobile ticketing market in the forecast years.
Despite these factors, the MRFR study came across some factors such as lack of proper internet connectivity is somehow hindering the growth of the market during its course. Even, lack of awareness amongst vendors as well as end-users on using apps to access and book tickets through the internet might also pause the growth course of the market during the forecast years.
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Segmentation of Market: Mobile Ticketing Market
The worldwide mobile ticketing market in MRFR’s study has been segmented among types, technology, and application.
In terms of type segment, the market has involved mobile applications and SMS ticketing.
The mobile ticketing market by technology segment has included OCR (Optical character recognition), PDF 417, 2D bar code, NFC technology, and QR code.
The mobile ticketing market by application type has included Entertainment tickets, travel tickets, and more.
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Increasing preference of customers in order to obtain, order, validate and pay for tickets conveniently has led to an upsurge in demand for mobile ticketing market in the coming years. In addition, reduced distribution and production costs related to traditional ticketing channels based on paper will further fuel growth of the market in the coming years. The global mobile ticketing market is expected to witness a 21.3% CAGR growth over the forecast period, 2016-2024.
Market Dynamics
Mobile tickets can be purchased through secure mobile applications, voice calls, via text messages, online and WAP pages. Attributed to convenient simple and new ways to purchase tickets, the global mobile ticketing market is expected to witness 21.3% CAGR growth by the end of 2024. Moreover, trends such a rapid increase in adoption of smartphones has further fuelled demand for mobile ticketing globally.
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Wide adoption of smartphones has positively impacted growth of the global mobile ticketing market, and the trend is likely to continue in the coming years. Additionally, it is convenient to manage booking a ticket without the need to commute to the ticketing counter due to busy lifestyle. Furthermore, companies are witnessed to gradually partner with ticketing agents to develop online portals for customers to easily log in at any place and time for booking tickets online. Such factors are significantly propelling demand for the global mobile ticketing market in the coming years.
However, apart from improper connectivity, lack of awareness among various end users and vendors regarding application of apps in order to access and book tickets through the online portals is likely to inhibit growth of the global mobile ticketing market in the coming years. Moreover, sensitive information regarding banking and personal details can be misused or stolen, which is further restraining growth of the global mobile ticketing market over the years.
Entertainment tickets among other travel tickets will witness relatively high Y-o-Y growth rate in the span of next four years. Moreover, travel tickets among others will account for revenues worth US$ 285 Mn, witnessing a steady growth in the coming years.
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North America and Europe among various regions will witness various smart city projects that have recently been launched and will further include mobile ticketing for the purpose of transportation. Furthermore, Europe will lose its dominance, and emerge as the major market globally for mobile ticketing in the coming years.Whereas, the mobile ticketing market will witness relatively fast CAGR growth of 25.1% in terms of revenue over the coming years.
Leading companies operating in the global mobile ticketing market include inmodo AB, Masabi Ltd., Gemalto N.V., Margento B.V., Digital Management, Inc., ShowClix Inc., moovel Group GmbH, Rapid Systems, Inc., AEP Ticketing Solutions Srl and Scheidt & Bachmann GmbH.
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Report Analysis@ https://www.researchreportinsights.com/report/rd/110114932/Mobile-Ticketing-Market
Increasing preference of customers in order to obtain, order, validate and pay for tickets conveniently has led to an upsurge in demand for mobile ticketing market in the coming years.
In addition, reduced distribution and production costs related to traditional ticketing channels based on paper will further fuel growth of the market in the coming years.
The global mobile ticketing market is expected to witness a 21.3% CAGR growth over the forecast period, 2016-2024.Market DynamicsMobile tickets can be purchased through secure mobile applications, voice calls, via text messages, online and WAP pages.
Attributed to convenient simple and new ways to purchase tickets, the global mobile ticketing market is expected to witness 21.3% CAGR growth by the end of 2024.
Moreover, trends such a rapid increase in adoption of smartphones has further fuelled demand for mobile ticketing globally.Request For Report Sample: https://www.researchreportinsights.com/report/sample/110114932/Mobile-Ticketing-MarketWide adoption of smartphones has positively impacted growth of the global mobile ticketing market, and the trend is likely to continue in the coming years.
Such factors are significantly propelling demand for the global mobile ticketing market in the coming years.However, apart from improper connectivity, lack of awareness among various end users and vendors regarding application of apps in order to access and book tickets through the online portals is likely to inhibit growth of the global mobile ticketing market in the coming years.
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