The Smart Ticketing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Smart Ticketing Global Market Report 2024, The smart ticketing market size has grown rapidly in recent years. It will grow from $15.4 billion in 2023 to $17.57 billion in 2024 at a compound annual growth rate (CAGR) of 14.1%. The growth in the historic period can be attributed to urbanization and population growth, focus on seamless travel experience, government initiatives for public transport, congestion and traffic management, rise in digital payment adoption.
The smart ticketing market size is expected to see rapid growth in the next few years. It will grow to $29.98 billion in 2028 at a compound annual growth rate (CAGR) of 14.3%. The growth in the forecast period can be attributed to demand for contactless solutions, integration with mobility services, focus on sustainable transportation, data analytics for optimization. Major trends in the forecast period include dynamic pricing models, integration with smart cities initiatives, biometric authentication for ticket access, environmental sustainability in ticketing, data analytics for user insights.
The revival of the travel and tourism industry will significantly contribute to the growth of the smart ticketing market. Due to the COVID-19 pandemic, the tourism industry was the worst-affected industry, with all sectors, including airlines and hospitality, being severely impacted. To combat the effects of COVID-19, travel-dependent economies around the world are devising creative solutions, such as activities aimed at instilling confidence, such as the SG Clean and Qatar Clean initiatives, as well as activities aimed at attracting tourists, such as safe travel bubbles, pilot projects, and offering incentives. Smart ticketing eliminates the need for cash payment for travel and helps to safeguard passengers and drivers from dangerous infections. For instance, according to World Tourism Organization (UNWTO) report, global tourism grew by 4% in 2021. In addition, the total number of global travelers grew from 400 million passengers in 2020 to 420 million in 2021. Therefore, the growth of the travel and tourism industry will positively impact the smart ticketing market growth.
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The smart ticketing market covered in this report is segmented –
1) By Product: Ticket Machine, E-Ticket, E-Kiosk, Request Tracker
2) By Component: Hardware, Software
3) By System: Open Payment System, Smart Card, Near-Field Communication
4) By Organization Size: SMEs, Large Enterprises
5) By Application: Railways, Airways, Roadways, Sports And Entertainment
Major companies operating in the smart ticketing market are focusing strategic collaborations approach to strengthen their market position. Collaborations enhance smart ticketing by integrating payment providers, ticket developers, and transportation operators for more comprehensive solutions. For instance, in June 2023, O-CITY, a Switzerland -based leading banking and payment firm, and Teknologi Karya Digital Nusa PT Tbk, an Indonesia-based Transportation service join forces to roll out Account-Based Ticketing Solution in Indonesia. The transportation infrastructure of Indonesia is about to undergo a transformation thanks to this cutting-edge ticketing system, which will also enable PT TKDN to offer a wider range of services related to mobility, such as parking, paid road systems, mass public transportation, and automated toll gates. Notably, PT TKDN wants to make this advanced fare collection system available throughout the entire nation, advancing the country's transition to multi-provider vital city services.
The smart ticketing market report table of contents includes:
- Executive Summary
- Smart Ticketing Market Characteristics
- Smart Ticketing Market Trends And Strategies
- Smart Ticketing Market - Macro Economic Scenario
- Global Smart Ticketing Market Size and Growth
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- Global Smart Ticketing Market Competitive Benchmarking
- Global Smart Ticketing Market Competitive Dashboard
- Key Mergers And Acquisitions In Smart Ticketing Market
- Smart Ticketing Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Hitachi Ltd.
- Siemens Mobility GmbH
- NEC Corporation
- Thales Group S.A.
- Infineon Technologies AG
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The Smart Ticketing market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global Smart Ticketing Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/smart-ticketing-market/download-sampleMarket DynamicsThe rising applications of smart ticketing in the tourism and travel industry, as they are user-friendly and can be accessed by all age group, is fueling the market growth of smart ticketing market.
On the other side, high investments on smart ticketing system restrain market growth.
Whereas, the adoption of demonetization policies and cashless transactions for smart ticketing system are expected to stimulate the market growth over the forecast period .This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis.
These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities.
The Smart Ticketing Market report facilitates businesses to successfully make decisions about business strategies to achieve maximum return on investment (ROI).
Smart Ticketing Market Report by Data Bridge Market Research presents the conceptual study and strategic analysis on Smart Ticketing Industry which provides market scope, applications, a topographical presence that drives the Smart Ticketing market.
Download Sample PDF Copy of the Smart Ticketing Market Report to understand the structure of the complete report@ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-smart-ticketing-market This Smart Ticketing Market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market.
A large-scale Smart Ticketing Market report delivers a comprehensive analysis of the market structure along with estimations of the various segments and sub-segments of the market.
This study also analyzes the market status, future trends, revenue generation, market share, growth rate, opportunities and challenges, sales volume, market drivers, market restraints, risks, and entry barriers.
Some of the geographies included in this study:North America (Canada, The United States, and rest of North America)Europe (France, Germany, and Rest of Europe)Asia-Pacific (India, Japan, China, and the rest of Asia-Pacific)LAMEA (Brazil, Turkey, and the rest of LAMEA) Major players covered in the Smart Ticketing Market reportGemalto, Cubic Corporation, Infineon Technologies AG, NXP Semiconductors., Indra Sistemas, HID Global Corporation/ASSA ABLOY AB., Softjourn Inc., Giesecke & Devrient GmbH, Paragon Group Limited, CPI Card Group Inc., Confidex Ltd., IAC, Xminnov, Oberthur Technologies, Masabi Ltd, Rambus.com., Xerox Corporation., Vix Technology., Confidex, Scheidt & Bachmann GmbH, and Inside Secure The Smart Ticketing Market Research Report aims to present insights that demonstrate the market scope, potential, structure, development, and historical perspective.
The report "Smart Ticketing Market by Offering (Hardware, Software and Services), Application (Transportation (Roadways, Railways, Airways), Sports & Entertainment), Revenue Channel, Connectivity, and Geography - Global Forecast to 2023", The smart ticketing market is projected to reach USD 20.4 billion by 2023 from USD 10.1 billion in 2018, at a CAGR of 14.99% during the forecast period.
Although hardware and software components together form a smart transit system, software interface is needed to be updated frequently to maintain compatibility with all the traditional and advanced technologies.
Also, the software interface of a smart ticketing system is comparatively expensive, and it works with payment gateways and other connected systems such as smartphones and cards through servers.
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.
Key players in the smart ticketing market include Cubic Corporation (US), Infineon Technologies (Germany), Conduent (US), Vix Technology (Australia), Rambus (US), HID Global (US), Gemalto (Netherlands), Giesecke+Devrient (Germany), Confidex (Finland), Inside Secure (France), Indra Sistemas (Spain), Paragon ID (France), Scheidt & Bachmann (Germany), CGI Group (Canada), Masabi (UK), Cityway (France), Smart Card IT Solutions (India), Xminnov (China), and Softjourn (US).
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