Smart Ticketing Market

Increasing Demand from Transportation Sector to Boost Smart Ticketing Market Growth

Smart ticketing is emerging as the most sought after solution in the transportation sector. Smart ticketing is an efficient way to manage public transportation travel for passengers. Use of smart technology in tourism and travel industry has further fuelled the smart ticketing market growth. Use of virtual philanthropy, contactless smart cards, smartphones, variables, artificial intelligence and maps has increased the convenience factor among individuals. This has fuelled the demand for smart ticketing solutions worldwide, giving an impetus to the market growth. Moreover, benefits awarded by smart ticketing solutions such as pre loading of credit in smart tickets for an individual’s future travel, transference of money to another smart card or recovery of money to another card in case of theft have positioned smart ticketing as a safe, secure and convenient way for travelling. This has boosted its use in the transit and transportation sector, consequently bolstering growth of the smart ticketing market.

According to industry reports, the global smart ticketing market crossed a valuation of US$7 Bn in 2020 and is anticipated to surge at a rate of more than 14% CAGR in the next six years. Growth of the market is mainly accelerated by developed countries in Europe and emerging economies in Asia Pacific, backed by technological advancements and their use in the tourism and transportation sectors.

Use of NFC to Boost Popularity of Mobile Smart Ticketing

Integration of advanced technology such as near field communication (NFC) has played a crucial role in enhancing smart ticketing performance. NFC facilitates quicker transactions as it allows transfer through simply placing smart card on the card reader. NFC enabled smartphones are widely used in performing contactless and safe transactions as well as access digital content. This has resulted in their use in public transportation in order to save cost and time alongside providing high value or each journey. That said, adoption of NFC technology has pushed the demand for mobile smart ticketing among individuals.

Europe to Account for a Significant Share in the Smart Ticketing Market; Asia Pacific to Reflect High Lucrativeness

Developed economies in Europe region are likely to showcase high lucrativeness for growth of smart ticketing market. Vendors of smart ticketing are establishing their roots in Europe owing to its advanced technological infrastructure and are providing integrated payment solutions by collaborating with mid to small scale smart ticketing operators and developers. The demand for smart ticketing in the region is largely driven by the tourism sector coupled with a simplified technology ecosystem. Moreover, government authorities are promoting use of contactless payment modes in the transportation sector by allowing individuals to use a single smart card. Smart card provides portability, convenience along with flexibility to individuals and also features varied ticket range, third party services and other transportation services and products. For instance, in London, the Oyster, a contactless payment card, is being used for PAYG (Pay As You Go). That said, demand for convenience and contactless speedy transactions are fuelling use of smart ticketing components in Europe.

On the other hand, the demand for smart ticketing across emerging countries in Asia Pacific is poised to increase in the coming years. This can be attributed towards various macro aspects such as increasing investments in Asian countries, rising inclination towards new technology and adoption of novel solutions to enhance life quality of individuals. In addition, growing support of governments and their initiatives to adopt digital payment systems has further paved potential pathways for use of smart ticketing. For instance, Government of India has launched Digital India initiative to promote use of digital payment modes. In this backdrop, volley of opportunities lie in Asia Pacific and key players in the smart ticketing market can focus to expand their footprint in the region.

Smart Ticketing Market: Competitive Landscape

Major players in the smart ticketing market are focusing on partnerships, new product launches and strategic collaborations to enhance their market presence. For instance, in February 2021, Infineon Technologies introduced 40 nm SLC36/SLC37 controller platforms featuring high performance security chips with a dual interface. These platforms offer better flexibility and performance for contactless payments and ticketing. Likewise, same year, Pyramid Computer and Scheidt & Bachmann entered into a partnership to promote self checkout solutions. The partnership enabled Scheidt & Bachmann to develop and promote the intuitive SIQMA smart checkout solution. In 2021, TSL UK Ltd was acquired by HID Global. This acquisition will enable HID to offer RFID integration tools and hardware. Same year in September, HID implemented SDK (Software Development Kit) in its ticketing solution. This gives individuals a secure and convenient ticketing solution on smartphones.

Few of the key players in the smart ticketing market include Germalto Nv (Thales Group), Conduent Inc., Cubic Corporation, HID Global, Infineon Technologies AG, ACT, NXP Semiconductors, and Siemens.

Global Smart Ticketing Market is Segmented as Below:

By Component

• Hardware
• Software
• Services

By Offering

• Smart cards
• Smart card reader
• Ticket validators
• Ticketing mobile terminals
• Request tracker
• Ticketing machine/Smart ticketing kiosk
• E-toll

By Connectivity

• RFID
• Barcode
• Near Field Communication (NFC)
• Cellular network
• Wi-Fi

By End use

• Parking
• Sports & entertainment
• Transportation
  • Roadways
  • Railways
  • Airways
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Russia
  • Rest of Europe
• Asia Pacific
  • Japan
  • South Korea
  • India
  • China
  • Rest of Asia-Pacific
• LAMEA
  • Latin America
  • Middle East
  • Africa

Key Elements Included In The Study: Global Smart Ticketing Market

• Smart Ticketing Market by Product/Technology/Grade, Application/End-user, and Region
• Executive Summary (Opportunity Analysis and Key Trends)
• Historical Market Size and Estimates, Value, 2018 - 2021
• Market Value at Regional and Country Level, 2022 - 2029
• Market Dynamics and Economic Overview
• Market Size in Value, Growth Rates, and Forecast Figures, 2022 - 2029
• Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
• Regional and Product/Grade/Application/End-user Price Trends Analysis
• Value Chain and Five Force’s Analysis
• Regional/Sub-region/Country Market Size and Trend Analysis
• Company Market Share Analysis and Key Player Profiles

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Disclaimer:

• The segmentation/company profiles/countries depicted above may vary in the actual report.