Smart ticketing is a system that electronically stores a travel ticket on a microchip which is then embedded on a smartcard. It is a paper free solution and an easier way to maintain a travel ticket.
Major factors driving the growth of smart ticketing market is the affordable access to smart transit systems. Rapid adoption of smart technologies and increasing implementations of smart ticketing are other factors driving the growth of smart ticketing market.
The Smart Ticketing Market has been segmented on the basis of component, product, system and application. The product segment is further bifurcated into e-toll, e-ticket, smart parking system, request tracker, e-kiosk and others. Out of these, the e-kiosk segment is expected to grow at the highest CAGR during the forecast period. It helps in reducing the manual operations and hence proves to be very efficient during peak hours.
Ticket machine is the oldest form of smart ticketing and helps in maintaining and managing flow of passengers during peak hours. Hence it is expected to hold the largest market share in the product segment, during the forecast period.
The global smart ticketing market is expected to grow at approx. USD 11 Billion by 2023, at 8% of CAGR between 2017 and 2023.
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Major Key Players:
- HID (U.S.)
- Gemalto NV (Netherlands)
- NXP Semiconductors (U.S.)
- Giesecke & Devrient GmbH (Germany)
- Infineon Technologies AG (Germany)
- Inside Secure (France)
- Xerox Corporation (U.S.)
- Confidex Ltd. (Finland)
- Cubic Corporation (U.S.)
- ASK (France)
Study Objectives of Smart Ticketing Market:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of thesmart ticketing market.
- To provide insights about factors affecting the market growth.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries North America, Europe, Asia, and Rest of the World (ROW).
- To provide country level analysis of the market with respect to the current market size and future perspective.
- To provide country level analysis of the market for segmentation on the basis of component, product, system and application.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for smart ticketing
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the smart ticketing
Smart ticketing market can be segmented on the basis of following:
- HardwarePOS Terminal Equipment
- Cards & Microchips
- Card Reader
- Ticket Machine
- Smart Parking System
- Request Tracker
- Smart Card
- Open Payment System
- Near Field Communication System
- Railways & Metros
- Sports & Entertainment
The regional analysis of smart ticketing market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period.
The major growth in smart ticketing market in North America is attributed to the technical advancements and increasing use of mobiles devices in that region.
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- Technology investors
- Integrated device manufacturers (IDMs)
- Original equipment manufacturers (OEMs)
- Research/Consultancy firms
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