Global Smart Ticketing Market Report and Forecast 2024-2032

Global Smart Ticketing Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global smart ticketing market reached a value of USD 18.26 billion in 2023. Aided by the increasing need for seamless transportation and the adoption of digitised solutions for payment and ticketing across various sectors, the market is projected to further grow at a CAGR of 8% between 2024 and 2032 to reach a value of USD 38.05 billion by 2032.

Smart ticketing refers to a system where an entitlement to travel or admission to an event is stored electronically on a microchip rather than being printed on a paper ticket. These microchips are often embedded in smart cards, mobile phones, or wearable devices. Smart ticketing systems offer advantages like enhanced security, reduced fraud, increased revenue opportunities, and improved customer experience.

A major force driving the smart ticketing market growth is the urbanisation trend and the subsequent strain on transportation infrastructure. With cities worldwide witnessing a surge in population, there's an amplified demand for efficient public transportation systems. Smart ticketing, with its convenience of easy top-ups and reduced time spent on queues, offers a solution, making commutes smoother and more efficient.

Furthermore, with the advent of IoT (Internet of Things) and increased integration of technology in daily life, consumers are leaning more towards digital solutions. This shift towards digitisation in daily activities, such as shopping, banking, and even commuting, has significantly bolstered the smart ticketing market.

The entertainment and sports industry is generating a steady smart ticketing market demand. With large-scale events, concerts, and matches, organisers are seeking efficient ways to manage crowd influx, enhance security, and provide an improved experience to attendees. Smart ticketing, with its features like easy access control and anti-counterfeit measures, addresses these needs effectively.

Additionally, the tourism sector, with its ever-growing numbers, has been quick to adapt to smart ticketing solutions. Tourist attractions, museums, and heritage sites are employing these systems to manage visitors, streamline entry processes, and offer tourists an unhindered experience.

Furthermore, the potential benefits of smart ticketing, ranging from operational efficiency and increased revenue to enhanced user experience, are influencing the smart ticketing market outlook. Partnerships between tech companies and transportation agencies, focussing on research and development to make systems more secure and user-friendly, are further propelling the market's growth.

Market Segmentation

The market can be divided based on component, product, connectivity, application, and region.

Market Breakup by Component

• Hardware
• Software and Services

Market Breakup by Product

• Smart Cards
• Reader
• Wearable
• Smart Parking System
• Ticket Machine
• Ticket Validators
• Others

Market Breakup by Connectivity

• NFC
• Barcode
• Wifi
• Cellular Network
• RFID
• Others

Market Breakup by Application

• Transportation
• Sports and Entertainment
• Parking
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global smart ticketing market. Some of the major players explored in the report by Expert Market Research are as follows:

• Cubic Corporation
• Confidex Oy
• Rambus Group
• Infineon Technologies AG
• HID Global Corporation
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.