Global Smart Ticketing Market Size By System (Open Payment System, Near-field Communication), By End-User (Transportation, Sports And Entertainment), By Geographic Scope And Forecast
Report ID: 144961|No. of Pages: 202
Global Smart Ticketing Market Size By System (Open Payment System, Near-field Communication), By End-User (Transportation, Sports And Entertainment), By Geographic Scope And Forecast
Smart Ticketing Market Size And Forecast
Smart Ticketing Market size was valued at USD 16.86 Billion in 2023 and is projected to reach USD 47.21 Billion by 2031, growing at a CAGR of 13.74% from 2024 to 2031.
- Smart ticketing is a method in which tickets are electronically saved on a smartcard, a mobile device, or a cloud platform. It makes use of technology such as RFID and NFC to provide seamless access to services without the need for physical tickets. It is widely used in transportation to simplify fare collecting and increase convenience.
- Smart ticketing is commonly utilized in public transportation, such as buses, trains, and metros, and allows passengers to enter by tapping their devices. Beyond transportation, it is used in event management and parking services. This solution reduces fraud, speeds up transactions, and provides real-time availability and pricing information.
- Smart ticketing is likely to grow into new industries, including retail and healthcare. Integrating blockchain and AI could improve security and personalization. The global adoption of contactless solutions will increase, driven by the growing demand for convenience, automation, and enhanced customer experience.
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Global Smart Ticketing Market Dynamics
The key market dynamics that are shaping the global smart ticketing market include:
Key Market Drivers:
- Increasing Urbanization and the Demand for Efficient Public Transportation: The growing increase of urban populations necessitates smarter, more efficient public transportation networks, which boosts smart ticketing solutions. According to the United Nations, 55% of the world’s population lived in cities in 2018, with a projected increase to 68% by 2050.
- Increasing Adoption of Contactless Payment Technologies: The rise of contactless payments, spurred by the COVID-19 pandemic, is driving smart ticketing expansion. UK Finance projected a 12% growth in contactless payments in 2020, accounting for 27% of total UK payments, up from 23% in 2019.
- Government Initiatives to Promote Smart City Development:Governments are investing in smart city projects, such as smart ticketing systems. The European Commission provided €900 million for smart city initiatives through Horizon 2020 between 2014 and 2020, supporting various smart ticketing implementations.
Key Challenges:
- High Initial Implementation Costs: Implementing smart ticketing systems requires significant upfront expenditures in technology, infrastructure and integration. For example, establishing contactless payment systems and digital infrastructure can cost millions of dollars, providing a challenge for towns with limited resources.
- Data Privacy and Security Concerns: Smart ticketing systems capture and preserve sensitive user information, which raises privacy and security concerns. Protecting data from breaches and misuse is crucial. The GDPR requires strong data processing and privacy procedures in European Union countries.
- Technological Compatibility and Integration Issues: Integrating smart ticketing technologies into current transportation infrastructure and systems can be difficult. Incompatibilities between new and legacy systems can lead to delays and operational issues, reducing overall efficiency.
Key Trends:
- Mobile Ticketing Adoption: Mobile ticketing is on the rise, as smartphones become the major means of ticket administration. Users are increasingly preferring digital tickets due to their convenience and compatibility with mobile payment methods. This trend is being pushed by the increasing use of smartphones and mobile applications.
- Integration of Contactless Payment Systems: Smart ticketing systems are progressively integrating contactless payment methods. This trend is driven by the need for faster, more sanitary transactions and it coincides with the widespread deployment of contactless payment methods in a variety of industries, including transportation and events.
- Advanced Data Analysis and Personalization: Smart ticketing solutions use extensive data analytics to deliver tailored experiences. Companies that analyze user data can adapt offerings, recommendations and services to improve customer happiness and operational efficiency.
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Global Smart Ticketing Market Regional Analysis
Here is a more detailed regional analysis of the global smart ticketing market:
North America:
- According to Verified Market Research, North America is expected to dominate the global smart ticketing market.
- North America, particularly the United States and Canada, leads the way in smart ticketing implementation due to its significant use of digital technology. According to the Pew Research Center’s 2021 study, 85% of Americans now own smartphones, up from 35% in 2011 and 77% have home broadband. This broad connectivity promotes mobile ticketing growth.
- Furthermore, the American Public Transportation Association reported 9.9 billion public transport rides in 2019, indicating a strong demand for smart ticketing. The US Department of Transportation’s Smart City Challenge have resulted in over USD 500 Million in smart ticketing expenditures across 78 cities, accelerating industry growth.
Asia Pacific:
- According to Verified Market Research, Asia Pacific is fastest growing region in global smart ticketing market.
- The Asia-Pacific area is rapidly urbanizing, increasing demand for efficient public transit and pushing smart ticketing use. According to UNESCAP, urban populations are expected to increase from 2.3 billion in 2019 to 3.5 billion by 2050, accounting for 50% to 66% of the overall population.
- Government initiatives, such as India’s Smart Cities Mission, which allocates ?980 billion for smart city development, are driving growth in smart ticketing. Furthermore, rising smartphone penetration, which is predicted to reach 83% by 2025 and an increase in mobile internet users are driving the growth of mobile-based smart ticketing solutions.
Global Smart Ticketing Market: Segmentation Analysis
The Global Smart Ticketing Market is segmented based into System, End-User, and Geography.
Smart Ticketing Market, By System
- Smart Card
- Open Payment System
- Near-field Communication
Based on System, the Global Smart Ticketing Market is separated into Smart Card, Open Payment System, Near-field Communication. The smart card technology now dominates the worldwide smart ticketing market as a result of its widespread use in transportation systems for secure, efficient transactions. Its dependability and established infrastructure contribute to its dominant position.
Smart Ticketing Market, By End-User
- Parking
- Transportation
- Sports & Entertainment
Based on End-User, Global Smart Ticketing Market is divided into Parking, Transportation, and Sports & Entertainment. The transportation industry dominates the global smart ticketing market due to widespread use and integration of digital ticketing systems in public transit and rail networks, resulting in increasing efficiency and convenience.
Key Players
The Global Smart Ticketing Market study report will provide valuable insight with an emphasis on the global market. The major players in the market are Confidex Ltd., CPI Card Group, Inc., Cubic Corporation, Thales, Giesecke & Devrient GmbH, HID Global Corporation (ASSA ABLOY), Infineon Technologies AG, NXP Semiconductors, IDEMIA, Xerox Corporation.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
Global Smart Ticketing Market Recent Developments
- In August 2023, MMT and Masabi announced the implementation of an enhanced account-based ticketing system. The new system enables MMT customers to employ contactless payment options, improving fare equity, convenience and accessibility for riders.
- In July 2023, Hitachi Rail announced the deployment of the 360Pass app uniting Genoa’s whole public Transport setup. The solution is available to all 600,000 residents and the 3,500,000 annual tourists after a new Contract with the city’s transportation authority, AMT.
- February 2023, Infineon, in partnership with TrustSEC, introduced an updated smart card operating system (OS), BIO-SLCOS. The solution is ideal for government documents, tickets and payment, as also for application suppliers who want to improve the performance of their biometric solution,
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2020-2031 |
| BASE YEAR | 2023 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2020-2022 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Confidex Ltd., CPI Card Group, Inc., Cubic Corporation, Thales, Giesecke & Devrient GmbH, HID Global Corporation (ASSA ABLOY), Infineon Technologies AG |
| SEGMENTS COVERED |
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| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope. |
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• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
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Frequently Asked Questions
1 INTRODUCTION OF GLOBAL SMART TICKETING MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL SMART TICKETING MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 GLOBAL SMART TICKETING MARKET, BY SYSTEM
5.1 Overview
5.2 Smart Card
5.3 Open Payment System
5.4 Near-field Communication
6 GLOBAL SMART TICKETING MARKET, BY END-USER
6.1 Overview
6.2 Parking
6.3 Transportation
6.4 Sports & Entertainment
7 GLOBAL SMART TICKETING MARKET, BY GEOGRAPHY
7.1 Overview
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 U.K.
7.3.3 France
7.3.4 Rest of Europe
7.4 Asia Pacific
7.4.1 China
7.4.2 Japan
7.4.3 India
7.4.4 Rest of Asia Pacific
7.5 Rest of the World
7.5.1 Latin America
7.5.2 Middle East and Africa
8 GLOBAL SMART TICKETING MARKET COMPETITIVE LANDSCAPE
8.1 Overview
8.2 Company Market Ranking
8.3 Key Development Strategies
9 COMPANY PROFILES
9.1 Confidex Ltd.
9.1.1 Overview
9.1.2 Financial Performance
9.1.3 Product Outlook
9.1.4 Key Developments
9.2 CPI Card Group, Inc.
9.2.1 Overview
9.2.2 Financial Performance
9.2.3 Product Outlook
9.2.4 Key Developments
9.3 Cubic Corporation
9.3.1 Overview
9.3.2 Financial Performance
9.3.3 Product Outlook
9.3.4 Key Developments
9.4 Thales
9.4.1 Overview
9.4.2 Financial Performance
9.4.3 Product Outlook
9.4.4 Key Developments
9.5 HID Global Corporation (ASSA ABLOY)
9.5.1 Overview
9.5.2 Financial Performance
9.5.3 Product Outlook
9.5.4 Key Developments
9.6 Giesecke & Devrient GmbH
9.6.1 Overview
9.6.2 Financial Performance
9.6.3 Product Outlook
9.6.4 Key Developments
9.7 Infineon Technologies AG
9.7.1 Overview
9.7.2 Financial Performance
9.7.3 Product Outlook
9.7.4 Key Developments
9.8 NXP Semiconductors
9.8.1 Overview
9.8.2 Financial Performance
9.8.3 Product Outlook
9.8.4 Key Developments
9.9 IDEMIA
9.9.1 Overview
9.9.2 Financial Performance
9.9.3 Product Outlook
9.9.4 Key Developments
9.10 Xerox Corporation
9.10.1 Overview
9.10.2 Financial Performance
9.10.3 Product Outlook
9.10.4 Key Developments
10 KEY DEVELOPMENTS
10.1 Product Launches/Developments
10.2 Mergers and Acquisitions
10.3 Business Expansions
10.4 Partnerships and Collaborations
11 Appendix
11.1 Related Research
Report Research Methodology
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Exploratory data mining
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Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
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Econometrics and data visualization model
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We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
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- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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