The global smart ticketing market reached a value of US$15.83 Billion in 2021. Looking forward, the publisher expects the market to reach US$33.3 Billion by 2027, exhibiting a CAGR of 12.4% during 2022-2027. Keeping in mind the uncertainties of COVID-19, they are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributorSmart ticketing refers to a flexible, quick, convenient, contactless, and easy-to-use system that electronically stores travel tickets on a microchip embedded in a smartcard. It allows passengers to seamlessly travel on public transport like buses, trams, or trains without using traditional payment systems like cash or purchasing a paper ticket. Nowadays, several companies are offering the option to add multiple train tickets to a single smartcard, which can be used across multiple journeys and modes of transportationIndividuals nowadays prefer public transportation over private vehicles on account of traffic congestion and rising environmental concerns, which represents one of the key factors driving the market growth. Moreover, governing agencies of various countries are promoting developments in smart technology and ticketing arrangements across different types of mobility and public transport. They are also promoting modern fare management that is safe, secure, reliable, and convenient for travelers and operators. Apart from this, the emergence of an innovative open-loop concept that enables passengers to utilize their credit or debit cards or mobile devices with payment functionalities like wearables for ticket payments is also contributing to the market growth. This can also be accredited to the increasing demand for mobile apps and the growing use of digital bank cards.
Moreover, integrating blockchain technology with smart ticketing can improve the passenger experience as it offers greater flexibility while minimizing paper ticket waste. Additionally, the coronavirus disease (COVID-19) outbreak, along with the revival of the travel and tourism industry, is catalyzing the demand for contactless smart ticketing solutions to prevent cross-infection. Besides this, leading players are focusing on providing smart ticketing solutions based on fingerprint recognition algorithms and ultra-touch fingerprint sensors, which is projected to create a positive market outlook
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Confidex Ltd., Cubic (NYSE:CUB) Corporation, Hid Global Corporation (Assa Abloy (OTC:ASAZY) AB), Hitachi (OTC:HTHIY) Ltd., Indra Sistemas S.A., Infineon (OTC:IFNNY) Technologies AG, NXP Semiconductors (NASDAQ:NXPI) N.V., Rambus (NASDAQ:RMBS) Incorporated, Scheidt & Bachmann GmbH, Softjourn Inc., Thales Group and VerimatrixKey Questions Answered in This Report:
- How has the global smart ticketing market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global smart ticketing market?
- What are the key regional markets?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the system?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global smart ticketing market and who are the key players?
- What is the degree of competition in the industry?
3 Executive Summary4 Introduction4.1 Overview4.2 Key Industry Trends5 Global Smart Ticketing Market5.1 Market Overview5.2 Market Performance5.3 Impact of COVID-195.4 Market Forecast6 Market Breakup by Product6.1 Ticket Machine6.1.1 Market Trends6.1.2 Market Forecast6.2 E-Ticket6.2.1 Market Trends6.2.2 Market Forecast6.3 E-Kiosk6.3.1 Market Trends6.3.2 Market Forecast6.4 Request Tracker6.4.1 Market Trends6.4.2 Market Forecast6.5 Others6.5.1 Market Trends6.5.2 Market Forecast7 Market Breakup by Component7.1 Software7.1.1 Market Trends7.1.2 Market Forecast7.2 Hardware7.2.1 Market Trends7.2.2 Market Forecast8 Market Breakup by System8.1 Open Payment System8.1.1 Market Trends8.1.2 Market Forecast8.2 Smart Card8.2.1 Market Trends8.2.2 Market Forecast8.3 Near-Field Communication8.3.1 Market Trends8.3.2 Market Forecast9 Market Breakup by Application9.1 Sports and Entertainment9.1.1 Market Trends9.1.2 Market Forecast9.2 Transportation9.2.1 Market Trends9.2.2 Market Forecast9.3 Others9.3.1 Market Trends9.3.2 Market Forecast10 Market Breakup by Region
11 SWOT Analysis
12 Value Chain Analysis13 Porters Five Forces Analysis14 Price Analysis15 Competitive Landscape15.1 Market Structure15.2 Key Players15.3 Profiles of Key Players15.3.1 Confidex Ltd.15.3.1.1 Company Overview15.3.1.2 Product Portfolio15.3.2 Cubic Corporation15.3.2.1 Company Overview15.3.2.2 Product Portfolio15.3.2.3 SWOT Analysis15.3.3 Hid Global Corporation ( Assa Abloy AB )15.3.3.1 Company Overview15.3.3.2 Product Portfolio15.3.4 Hitachi Ltd .15.3.4.1 Company Overview15.3.4.2 Product Portfolio15.3.4.3 Financials15.3.4.4 SWOT Analysis15.3.5 Indra Sistemas S.A.15.3.5.1 Company Overview15.3.5.2 Product Portfolio15.3.5.3 Financials15.3.5.4 SWOT Analysis15.3.6 Infineon Technologies AG15.3.6.1 Company Overview15.3.6.2 Product Portfolio15.3.6.3 Financials15.3.6.4 SWOT Analysis15.3.7 NXP Semiconductors N.V.15.3.7.1 Company Overview15.3.7.2 Product Portfolio15.3.7.3 Financials15.3.7.4 SWOT Analysis15.3.8 Rambus Incorporated15.3.8.1 Company Overview15.3.8.2 Product Portfolio15.3.8.3 Financials15.3.9 Scheidt & Bachmann GmbH15.3.9.1 Company Overview15.3.9.2 Product Portfolio15.3.10 Softjourn Inc.15.3.10.1 Company Overview15.3.10.2 Product Portfolio15.3.11 Thales Group15.3.11.1 Company Overview15.3.11.2 Product Portfolio15.3.11.3 Financials15.3.11.4 SWOT Analysis15.3.12 Verimatrix 15.3.12.1 Company Overview15.3.12.2 Product Portfolio15.3.12.3 Financials
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