Smart Ticketing Market Size 2023: Growth, Demand, Opportunity and Forecast

IMARC Group, a leading market research company, has recently releases report titled “Smart Ticketing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global smart ticketing market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the Smart Ticketing Market?

Report Attributes	Details
Market Size in 2022	US$ 17.9 Billion
Market Forecast in 2028	US$ 34.2 Billion
Growth rate (2023 to 2028)	CAGR of 11.2%
Base Year of the Analysis	2022
Forecast Period	2023-2028

What are Smart Ticketing?

Smart ticketing refers to a flexible, quick, convenient, and contactless system that electronically stores a ticket on a microchip embedded smartcard. The smartcard is then scanned by the transport operator at a static or handheld ticket machine or barrier to authorize the travel. It uses the government-backed ITSO specification to enable the passengers to seamlessly travel in buses, trams, and trains without using traditional payment systems. Compared to the traditional ticketing system, smart ticketing is fast, efficient and eliminates the need to buy paper tickets.

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What are the growth prospects and trends in the Smart Ticketing industry?

The market is primarily driven by the growing inclination toward public transportation due to traffic congestion and rising environmental concerns. In addition, various initiatives undertaken by governments of numerous countries to promote smart technology and ticketing arrangements represent another major growth-inducing factor. Besides this, the market is further influenced by the increasing demand for mobile apps and the growing utilization of digital bank cards. Moreover, key players are integrating blockchain technology with smart ticketing to improve the passenger experience and offer greater flexibility while minimizing paper usage. They are also providing smart ticketing solutions based on fingerprint recognition algorithms and ultra-touch fingerprint sensors. This, coupled with the emergence of the open-loop concept that enables passengers to use their mobile devices or debit or credit cards with payment functionalities, is escalating the demand for smart ticketing. Furthermore, various technological advancements, such as the introduction of quick response (QR) code, near-field communication (NFC), barcode, local wireless ticketing, and open payment systems, and the adoption of smart ticketing solutions in the sports and entertainment industries are expected to propel market growth in the coming years.

What is included in market segmentation?

The report has segmented the market into the following categories:

Based On Product:

• Ticket Machine
• E-Ticket
• E-Kiosk
• Request Tracker
• Others

Based On Component:

• Software
• Hardware

Based On System:

• Open Payment System
• Smart Card
• Near-Field Communication

Based On Application:

• Sports and Entertainment
• Transportation
• Others

Based On Region:

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

Who are the key players operating in the industry?

The report covers the major market players including: 

• 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.

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This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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