Smart Ticketing Market

Smart Ticketing Market

Growth Factors of Smart Ticketing Market

The smart ticketing market size was valued at USD 10.80 billion in 2023, and the market is now projected to grow from USD 12.36 billion in 2024 to USD 32.31 billion by 2032, exhibiting a CAGR of 12.8% during the forecast period of 2024-2032.

The North American transportation system was heavily affected by the COVID-19 outbreak, particularly in the U.S. and Canada as activities froze due to restrictions. Beverage and food, travel, tourism and entertainment were most affected, particularly in the U.S. and Europe. But in the later part of 2020, the restrictions were eased, and public places and transport were opened which helped the smart ticketing market growth. This is because future growth is expected in transportation once restrictions have been lifted.

The increasing popularity of smart ticketing solutions in sports events, the entertainment industry and tourism is driving the development of more robust transportation systems. Advanced and sophisticated electronic ticketing systems are commonly selected due to their fast, secure, easy-to-use operational functions. They introduced cheap ways of travelling since passengers can load credit on their tickets and get a refund in case of loss. These systems increase convenience and security, driving demand and therefore market progress. The rising adoption of mobile tickets in ticketing is expected to boost the smart ticketing market share.

Also, the adoption of advanced technology, such as NFC, is improving smart ticketing solutions in the transport sector and at entertainment events. NFC enables quick and convenient payment and ticketing solutions using mobile phones and smart cards. The ease of getting to transport gates and parking garages increases the use of mobile tickets. This is supported by the integration of AI, VR maps and wearable technology into the system. These innovations are expected to help the markets to grow to a greater extent as indicated in the forecast period.

Comprehensive Analysis of Smart Ticketing Market

The smart ticketing market and the information & communication technology industry are expanding dramatically because of the market segmentation. This market expansion offers a comprehensive regional analysis of the key supply and demand drivers influencing the hardware & software IT services market. These segmentations are methodically segmented by component, by technology, by offering and by application. The components include, Hardware and Software. The technology include, Near Field Communication (NFC), Radio Frequency Identification (RFID), Quick Response Code (QR Code) and Others. The offering include, Smart Cards, Ticket Validators, Ticketing Machine/Smart Ticketing Kiosk, E-toll and Others. The applications include, Parking and Transportation, and Sports and Entertainment.

North America holds the largest market share in future as well in the forecast period. The growth of various market segments such as the adoption of new technologies, digital and emerging technologies and the availability of dominant players such as Conduent, Inc., HID Global Corporation, Masabi Ltd. and many more.

The leading companies in the market have a major impact in ensuring the industrial prospectus growth in the information & communication technology market and defining the market standards. These players include, Conduent, Inc. (New Jersey, U.S.), Siemens (Munich, Germany), Cammax Ltd (West Yorkshire, U.K.), Infineon Technologies AG (Neubiberg, Germany), HID Global Corporation (Texas, U.S.), Hitachi Rail Limited (London, U.K.), Masabi Ltd (New York, U.S.), NXP Semiconductors (Eindhoven, Netherlands), Giesecke+Devrient GmbH (Munich, Germany) and Cubic Corporation (California, U.S.). These market players provide a level-playing competitive landscape.

In August 2023, Mountain Metropolitan Transit (MMT) and Masabi unveiled the new account-based ticketing system as a public transport innovation. The new system enables MMT users to benefit from contactless payment options, offering advantages in terms of fare, convenience and rider perception.

Segmentation Table

Global Smart Ticketing Market Scope

Study Period 2019-2032

Base Year 2023

Forecast Period 2024-2032

Growth Rate CAGR of 12.8% from 2024 to 2032

Historical Period 2019-2022

Unit Value (USD Billion)

Segmentation By Component, Technology, Offering, Application, and Region

By Component

Hardware

• Software

By Technology

Near Field Communication (NFC)

• Radio Frequency Identification (RFID)
• Quick Response Code (QR Code)
• Others (Cellular Networks)

By Offering

Smart Cards

• Ticket Validators
• Ticketing Machine/Smart Ticketing Kiosk
• E-toll
• Others (wearables)

By Application

Parking and Transportation

• Sports and Entertainment

By Region

North America (By Component, By Technology, By Offering, By Application, and By Country)

• U.S.(By Offering)
• Canada (By Offering)
• Mexico (By Offering)
• South America (By Component, By Technology, By Offering, By Application, and By Country)
• Brazil (By Offering)
• Argentina (By Offering)
• Rest of South America
• Europe (By Component, By Technology, By Offering, By Application, and By Country)
• U.K. (By Offering)
• Germany (By Offering)
• France (By Offering)
• Italy (By Offering)
• Spain (By Offering)
• Russia (By Offering)
• Benelux (By Offering)
• Nordics (By Offering)
• Rest of Europe
• The Middle East & Africa (By Component, By Technology, By Offering, By Application, and By Country)
• Turkey (By Offering)
• Israel (By Offering)
• GCC (By Offering)
• North Africa (By Offering)
• South Africa (By Offering)
• Rest of the Middle East & Africa
• Asia Pacific (By Component, By Technology, By Offering, By Application, and By Country)
• China (By Offering)
• Japan (By Offering)
• India (By Offering)
• South Korea (By Offering)
• ASEAN (By Offering)
• Oceania (By Offering)
• Rest of Asia Pacific

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