Global Smart Ticketing Market size was US$ XX Bn. in 2019 and is expected to reach US$ XX Bn. by 2027, at a CAGR of 15.2% during forecast period.
Global Smart Ticketing Market
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The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Global Smart Ticketing Market Definition:
Smart ticketing is developing as an innovation in the ticketing system in the travel and transportation industries. Smart ticketing system includes the electronic storage of travel tickets on microchips rather than the traditional system of paper tickets.
Global Smart Ticketing Market Dynamics:
The report covers all the dynamics, technologies and trends playing a major role in the growth of the smart ticketing market over the forecast period. Numbers of revenue loss and theft have led manufacturers in the worldwide market to integrate advanced features like smart locking technology. Apart from the smart security authentication, the smart ticketing systems are ready with water-resistant features, because of which the life-span of the ticket is comparatively longer as compared to a typical paper ticket.
Manufacturers are progressively integrating intelligent technology in the smart ticketing systems to upsurge their customer base. Bound to features, for example, fingerprint recognition algorithm and ultra-touch fingerprint sensors, adoption of the smart ticketing system will continue to grow in various industries. However, the centralized framework of the smart ticketing systems and need for a large number of funds are likely to restrict the growth smart ticketing market during the forecast period. Also, the designing of an open architecture for smart ticketing technology is expected to act as a major challenge for the prominent players operating in the global smart ticketing market in future.
Major Opportunities for Market Players:
The surge in the number of partnerships and collaborations among the market players will continue to impact the growth of the global market for smart ticketing positively. Such as a leading digital security company, Rambus Inc. has recently announced that the company has increasingly cooperated with the Acxsys Corporation and Samsung Canada. The firms will mainly focus on developing the Interac Token Service Provider (TSP), which will allow the Interac end-users to make safe payments over tokenized transactions.
Ongoing Trends:
The development of smartcard ticketing is the result of a global trend toward cashless transactions throughout transportation. With this current shift, major credit card corporations like Visa and MasterCard are embedding smart chips in cards that allow them to perform the functions of a public transport ticket as well as regular functions.
Global Smart Ticketing Market Segmentation:
The MMR report will provide an accurate prediction of the contribution of the various segments to the growth of the smart ticketing market size. Based on offering, smart card in the hardware segment is expected to account for the largest XX.31% market share by 2027. This is because of the increased usage of online payment methods. These cards permit consumers to make secure and reliable payments. Besides, continuous innovations for these cards aid safeguard confidential information by inhibiting hacking or theft through card authentication and encryption.
Global Smart Ticketing Market1
Global Smart Ticketing Market Regional Analysis:
Regional analysis is another highly comprehensive part of the research and analysis study of the global market for smart ticketing presented in the report. Europe region holds the largest XX.21% share of the market across the world followed by America, and APAC. The European government is taking wits to invest in the smart ticketing system to upsurge their GDP growth. Also, smart ticketing players are massively investing in Europe as citizens in the region choose public transportation services for travel activities.
In the Americas, the transportation operators and authorities, event organizers, and sports clubs are capitalizing in ticket machines, smart bill and smart parking to digitalize their ticketing systems. The APAC is expected to be the emerging market in the future thanks to growth in the government investments in building smart cities.
Global Smart Ticketing Market Key Development:
The report also focuses on global major leading industry players of Global Smart Ticketing market providing information such as company profiles, product and specification, capacity, production, cost, and revenue. In 2019, Hitachi Rail Company announced that it is testing its recently developed smart ticketing system which uses sensors on trains to detect an application on travellers’ smartphones as they board, eliminating the ticket barriers. This would charge the precise fare automatically from the passengers. This technology is now undertaking a testing program for Trenito Transport in Trento, Italy (Europe).
The objective of the report is to present a comprehensive analysis of the Global Smart Ticketing Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Smart Ticketing Market dynamics, structure by analyzing the market segments and projects the Global Smart Ticketing Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Smart Ticketing Market make the report investor’s guide.
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Global Smart Ticketing Market, by Offering
• Hardware
o Smart Cards
o Wearables
o Ticketing Mobile Terminals/Ticketing Machines
o Readers
o Validators
• Software & Services
Global Smart Ticketing Market, by Application
• Transportation
o Railways
o Roadways
o Airways
• Sports & Entertainment
Global Smart Ticketing Market, by Revenue Channel
• Users
• Suppliers
Global Smart Ticketing Market, By Region
• Asia Pacific
• North America
• Europe
• Latin America
• Middle East Africa
Key players operating in Global Smart Ticketing Market
• Cubic Corporation
• Infineon Technologies
• Conduent
• Vix Technology
• Visa
• Rambus
• Hid Global
• Delhi Metro Rail Corporation
• Gemalto Nv
• Giesecke+Devrient
• Indra Sistemas
• Confidex
• Cityway
• Smart Card It Solutions
• Xminnov
• Ticketer
• Softjourn
• Hitachi Rail
• NXP Semiconductors
• HID Global Corporation/ASSA ABLOY AB
• Softjourn Inc.
• Paragon Group Limited
• CPI Card Group Inc.
• Oberthur Technologies
• Masabi Ltd
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