Global Smart Ticketing Market (2022 to 2027) – Industry Trends, Share, Size, Growth, Opportunity and Forecasts
The global smart ticketing market reached a value of US$15.83 Billion in 2021. Looking forward, the publisher expects the market to reach US$33.3 Billion by 2027, exhibiting a CAGR of 12.4% during 2022-2027. Keeping in mind the uncertainties of COVID-19, they are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor
Smart ticketing refers to a flexible, quick, convenient, contactless, and easy-to-use system that electronically stores travel tickets on a microchip embedded in a smartcard. It allows passengers to seamlessly travel on public transport like buses, trams, or trains without using traditional payment systems like cash or purchasing a paper ticket. Nowadays, several companies are offering the option to add multiple train tickets to a single smartcard, which can be used across multiple journeys and modes of transportation
Individuals nowadays prefer public transportation over private vehicles on account of traffic congestion and rising environmental concerns, which represents one of the key factors driving the market growth. Moreover, governing agencies of various countries are promoting developments in smart technology and ticketing arrangements across different types of mobility and public transport. They are also promoting modern fare management that is safe, secure, reliable, and convenient for travelers and operators. Apart from this, the emergence of an innovative open-loop concept that enables passengers to utilize their credit or debit cards or mobile devices with payment functionalities like wearables for ticket payments is also contributing to the market growth. This can also be accredited to the increasing demand for mobile apps and the growing use of digital bank cards.
Moreover, integrating blockchain technology with smart ticketing can improve the passenger experience as it offers greater flexibility while minimizing paper ticket waste. Additionally, the coronavirus disease (COVID-19) outbreak, along with the revival of the travel and tourism industry, is catalyzing the demand for contactless smart ticketing solutions to prevent cross-infection. Besides this, leading players are focusing on providing smart ticketing solutions based on fingerprint recognition algorithms and ultra-touch fingerprint sensors, which is projected to create a positive market outlook
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Confidex Ltd., Cubic Corporation, Hid Global Corporation (Assa Abloy AB), Hitachi Ltd., Indra Sistemas S.A., Infineon Technologies AG, NXP Semiconductors N.V., Rambus Incorporated, Scheidt & Bachmann GmbH, Softjourn Inc., Thales Group and Verimatrix
Key Questions Answered in This Report:
- How has the global smart ticketing market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global smart ticketing market?
- What are the key regional markets?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the system?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global smart ticketing market and who are the key players?
- What is the degree of competition in the industry?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Smart Ticketing Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product
6.1 Ticket Machine
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 E-Ticket
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 E-Kiosk
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Request Tracker
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Others
6.5.1 Market Trends
6.5.2 Market Forecast
7 Market Breakup by Component
7.1 Software
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Hardware
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by System
8.1 Open Payment System
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Smart Card
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Near-Field Communication
8.3.1 Market Trends
8.3.2 Market Forecast
9 Market Breakup by Application
9.1 Sports and Entertainment
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Transportation
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Others
9.3.1 Market Trends
9.3.2 Market Forecast
10 Market Breakup by Region
11 SWOT Analysis
12 Value Chain Analysis
13 Porters Five Forces Analysis
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Confidex Ltd.
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.2 Cubic Corporation
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.2.3 SWOT Analysis
15.3.3 Hid Global Corporation (Assa Abloy AB)
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.4 Hitachi Ltd.
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.4.3 Financials
15.3.4.4 SWOT Analysis
15.3.5 Indra Sistemas S.A.
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.5.3 Financials
15.3.5.4 SWOT Analysis
15.3.6 Infineon Technologies AG
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.6.3 Financials
15.3.6.4 SWOT Analysis
15.3.7 NXP Semiconductors N.V.
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.7.3 Financials
15.3.7.4 SWOT Analysis
15.3.8 Rambus Incorporated
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.8.3 Financials
15.3.9 Scheidt & Bachmann GmbH
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.10 Softjourn Inc.
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.11 Thales Group
15.3.11.1 Company Overview
15.3.11.2 Product Portfolio
15.3.11.3 Financials
15.3.11.4 SWOT Analysis
15.3.12 Verimatrix
15.3.12.1 Company Overview
15.3.12.2 Product Portfolio
15.3.12.3 Financials
Text source: DailyCoin.com
