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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Smart Ticketing Market Outlook
The global smart ticketing market reached a value of about USD 20.63 billion in 2023. The industry is further expected to grow at a CAGR of about 13% in the forecast period of 2024-2032 to reach a value of around USD 62.04 billion by 2032.
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Europe Holds a Major Share in the Smart Ticketing Industry Globally
Europe accounts for a major share in the industry owing to the growing tourism industry and the innovation of technologically advanced ticketing systems across the region. Moreover, leading market players, such as Infineon Technologies and Gemalto, are increasing their market presence by introducing integrated payment options through partnerships and collaborations with smart ticket operators. This has significantly contributed to the industry growth. In addition, the rapid advancements in technology have driven smart ticketing companies to opt for technologies like QR code, bar code, and NFC, which, in turn, are favouring the industry growth. Meanwhile, the Asia Pacific region is expected to witness a robust growth over the forecast period owing to the rising government initiatives to encourage the adoption of digital payments and increasing smartphone and internet penetration in emerging nations like China and India.
Smart Ticketing: Market Segmentation
Smart ticketing refers to a digital platform to book tickets. It acts as a substitute to the traditional paper based ticketing system followed since centuries. It is a system which electronically stores ticket on a microchip and offers seamless transportation and various payment options to consumers. It is quicker, more efficient, and saves a lot of time. Such solutions also save the time of a passenger by eliminating the need to purchase a ticket by standing in a queue.
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By component, the market is bifurcated into:
- Hardware
- Software and Services
Based on product, the market comprises of:
- Smart Cards
- Reader
- Wearable
- Smart Parking System
- Ticket Machine
- Ticket Validators
- Others
Based on connectivity, the industry is segmented into:
- NFC
- Barcode
- Wifi
- Cellular Network
- RFID
- Others
On the basis of application, it is categorised into:
- Transportation
- Sports and Entertainment
- Parking
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increasing Demand in Travel and Tourism Industry and Rapid Technological Advancements to Bolster the Growth of the Smart Ticketing Industry
The industry is being driven by the increasing demand for smart ticketing solutions in the travel and tourism industry. Moreover, technological advancements and easy access to rapid transit with smart systems are also revolutionising the industry. The adoption of efficient ticketing systems by numerous public transportation companies is triggering the industry growth. These ticketing solutions are very effective and reduce costs in comparison to paper based or printed tickets. Apart from this, these technologies allow the consumers to save time from long queues and quickly secure tickets, pay, and download immediately from the internet. In addition, the proliferating number of cashless transactions have also propelled the market growth. Other factors like rapid urbanisation, increasing smartphone and internet penetration, and escalating disposable incomes are also aiding the industry expansion.
Over the forecast period, the increasing demand for mobile apps and contactless digital transactions via bank cards is further anticipated to drive the global market.
Key Industry Players in the Global Smart Ticketing Market
The report gives a detailed analysis of the following key players in the global smart ticketing market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Cubic Corporation
- Confidex Oy
- Rambus Group
- Infineon Technologies AG
- HID Global Corporation
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Product |
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| Breakup by Connectivity |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global smart ticketing market attained a value of nearly USD 20.63 billion.
The market is projected to grow at a CAGR of 13% between 2024 and 2032.
The major market drivers are rapid urbanisation, increasing smartphone and internet penetration, and the rising preference for mobile apps and contactless digital transactions.
The robust growth of the travel and tourism sector and the increasing adoption of efficient ticketing systems by numerous public transportation companies are the key trends propelling the market.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major components of smart ticketing are hardware and software and services.
The various products considered in the market report are smart cards, reader, wearable, smart parking system, ticket machine, and ticket validators, among others.
The significant segments based on connectivity considered in the market report are NFC, barcode, WiFi, cellular network, and RFID, among others.
The major applications of smart ticketing are transportation, sports and entertainment, and parking, among others.
The major players in the market are Cubic Corporation, Confidex Oy, Rambus Group, Infineon Technologies AG, and HID Global Corporation, among others.
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