FREE SAMPLE ?
Please enter corporate email id here & we’ll send you a free sample.
Smart Ticketing Market Size, Share, Forecast, & Trends Analysis by Offering (Platforms, Hardware, Services), Technology (RFID, Barcode & QR Code, NFC, Wi-Fi), Application (Parking, Transportation, Sports), Sector (Commercial, Public Sector), and Geography - Global Forecast to 2031
Report ID: MRICT - 1041173 Pages: 270 May-2024 Formats*: PDF Category: Information and Communications Technology Delivery: 24 to 72 Hours Download Free Sample Report
The Smart Ticketing Market is expected to reach $35.9 billion by 2031, at a CAGR of 13.4% from 2024 to 2031. The growth of the smart ticketing market is driven by the increasing use of contactless payments and the growing demand for secure & convenient ticketing solutions. Furthermore, increasing investments in public transport infrastructure are expected to generate growth opportunities for the players operating in this market.
The use of contactless payments for smart ticketing has become increasingly prevalent, especially in urban areas with high public transportation usage. Technological advancements, such as Near Field Communication (NFC), have simplified the implementation of contactless payment systems. Additionally, the proliferation of smartphones with NFC capabilities has made it more convenient for passengers to use contactless payment methods. Also, government initiatives promoting cashless transactions to increase efficiency, reduce fraud, and streamline public transportation systems have increased the use of contactless payments in smart ticketing.
Contactless payment systems allow customers to make payments without using cash or swiping their cards. Customers can tap or wave their cards over a card reader to use this method. The terminal then connects with the bank account, and the payment is processed.
Moreover, contactless payments allow for faster transactions, reducing queues and waiting times. Passengers can simply tap their cards or phones to pay for tickets, leading to quicker boarding and fewer delays. Thus, the use of contactless payments in smart ticketing offers numerous benefits, making public transportation more efficient, secure, and user-friendly. Several companies are launching contactless payment solutions for transportation ticketing to improve consumer experience. For instance, in August 2022, Chennai Metro Rail Limited (CMRL) (India) launched a new contactless QR ticketing system, allowing passengers to make contactless payments by simply scanning QR codes displayed at the train station.
The demand for secure & convenient smart ticketing solutions is growing due to the digital transformation in transportation and public services. Government & transportation authorities are increasingly adopting digital solutions to modernize public services. Smart ticketing is a key component of this transformation, bridging traditional transportation systems and modern digital infrastructure. However, the need for secure ticketing solutions has grown with the rise in digital transactions and cybersecurity risks. Smart ticketing systems offer encrypted transactions, reducing the risk of fraud and safeguarding passenger data.
Some of the key benefits of smart ticketing solutions are as follows:
Blockchain is a decentralized and distributed technology that provides transparency, security, and immutability in smart ticketing applications. The use of blockchain technology in smart ticketing reduces the risk of fraud and unauthorized access. Blockchain technology helps record all transactions in a transparent and traceable manner. This transparency ensures that ticket transactions are verifiable, allowing for easy tracking and auditability. Additionally, blockchain-based smart ticketing is used to create integrated ticketing systems across different modes of public transportation, such as buses, trains, and subways. Thus, passengers can use a single token or QR code for travel, with all transactions securely recorded on the blockchain.
Thus, the use of blockchain technology in smart ticketing offers numerous benefits, such as enhanced security, transparency, and cost efficiency. Blockchain technology is transforming the smart ticketing landscape by providing a more robust and user-friendly experience. However, its successful implementation requires careful planning, attention to scalability, regulatory compliance, and user education. Thus, the use of blockchain technology in smart ticketing has led to the development of innovative and secure ticketing solutions.
Increasing investments in upgrading existing public transport infrastructure are enhancing the quality of services and convenience for passengers. Governments & transportation companies are increasingly providing smart ticketing solutions based on digital methods, such as contactless cards, mobile apps, and QR codes, allowing customers to purchase and validate tickets and reducing the need for them to carry paper tickets or exact change. Additionally, increasing investments in incorporating smart ticketing into public transport infrastructure have helped transport authorities automate fare collection, reduce manual processing & human error, and increase operational efficiency in public transport.
Hence, the increasing investments in public transport infrastructure are providing both passengers and transportation providers with a wide range of benefits, including more efficient, convenient, and sustainable public transportation systems.
Some of the recent developments related to smart ticketing in the public transport space are as follows:
Based on offering, the smart ticketing market is segmented into platforms, hardware, and services. In 2024, the hardware segment is expected to account for the largest share of over 53.0% of the smart ticketing market. The segment’s large market share is attributed to the growing implementation of smart ticketing systems to reduce waiting times and queues during peak hours, the growing use of smart ticketing hardware to enable secure and convenient ticketing solutions, the increasing use of smart ticketing solutions to enhance convenience, security, and operational efficiency, and the growing implementation of ticket validators to manage ticket inspection and fare collection processes.
Also, this segment is expected to register the highest CAGR during the forecast period 2024–2031.
Based on technology, the smart ticketing market is segmented into RFID, barcode & QR code, near field communication, cellular network, Wi-Fi, and other technologies. In 2024, the barcode & QR code segment is expected to account for the largest share of the smart ticketing market. The segment’s large market share is attributed to the growing adoption of barcode ticketing to provide consumers with detailed information. Barcode technology is widely used and supported across a variety of devices and systems. QR codes and barcodes are used for ticketing in high-traffic areas like transportation hubs, sports events, and concerts. Barcode ticketing minimizes human error and reduces the likelihood of ticket information being misread or mis-entered. QR codes and barcodes are designed with unique identifiers and encoded with encrypted information to reduce the risk of fraud and duplication. Barcodes are also used to track usage patterns and collect data on ticket scans, providing valuable insights to event organizers and transportation authorities.
However, the RFID segment is expected to register the highest CAGR during the forecast period 2024–2031. The growth of this segment is driven by the increasing use of RFID technology for ticketing in high-traffic environments like transit systems, concerts, and sports events, where speed and convenience are critical. RFID systems read multiple tags at once and process tickets in a fraction of a second, making them an excellent choice to improve passenger flow. RFID tags are encrypted and include unique identifiers, making it more difficult to counterfeit tickets. Thus, the technology prevents ticket fraud and enhances security in smart ticketing systems. It offers robust, secure, and scalable solutions that improve the user experience, enabling efficient operations and greater versatility.
Based on application, the smart ticketing market is segmented into parking, transportation, sports, recreational activities, and other applications. In 2024, the transportation segment is expected to account for the largest share of over 48.0% of the smart ticketing market. The segment’s large market share is attributed to the growing adoption of smart ticketing in transportation due to the use of digital technologies to manage ticketing and fare collection. Smart ticketing allows passengers to use various methods, such as mobile apps and RFID cards, to purchase and validate tickets. The adoption of smart ticketing in transportation reduces operational costs by minimizing the need for paper tickets. Smart ticketing systems incorporate encryption and unique identifiers, reducing the risk of ticket fraud and counterfeiting. Smart ticketing enables more flexible and complex fare structures such as distance-based pricing, time-based tickets, and zonal fares.
Also, this segment is expected to register the highest CAGR during the forecast period 2024–2031.
Based on sector, the smart ticketing market is segmented into commercial sector, education, hospitality, public sector, media & entertainment, and other sectors. In 2024, the public sector segment is expected to account for the largest share of over 57.0% of the smart ticketing market, primarily because smart ticketing is linked to real-time information systems, providing passengers with up-to-date details on routes, schedules, and service disruptions. Smart ticketing is adopted in the public sector to enable loyalty programs and discounts in various applications such as transportation. Smart ticketing allows passengers to use digital methods such as contactless cards, mobile apps, and QR codes to purchase and validate tickets. Governments are also undertaking smart ticketing initiatives to reduce the use of paper, plastic, and other materials, contributing to environmental sustainability by lowering waste and resource consumption.
However, the hospitality segment is expected to register the highest CAGR during the forecast period 2024–2031. The growth of this segment is driven by the increasing use of smart ticketing in the hospitality industry to streamline operations and improve customer service. Smart ticketing is adopted in restaurants to regulate entry to certain areas and ensure privacy. Also, the increasing use of contactless check-in in hotels to offer guests convenience, reduce the time spent in queues, and eliminate the need for physical interaction drive the growth of this segment.
In 2024, Asia-Pacific is expected to account for the largest share of over 35.0% of the smart ticketing market. Asia-Pacific’s significant market share can be attributed to the growing adoption of smart cards and AI in the region’s travel & tourism sector, economic growth in countries such as China, India, and Japan due to rapid urbanization and industrialization, the rising use of smart ticketing to reduce the costs associated with printing paper tickets, handling cash, and maintaining ticketing machines, government initiatives to gain data-driven insights for better planning in transportation to optimize routes, scheduling, and passenger capacity management.
Also, this market is expected to register the highest CAGR of over 15.0% during the forecast period 2024–2031.
The report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted in the last 3–4 years. Some of the key players operating in the smart ticketing market are Cubic Transportation Systems, Inc. (U.S.), Atsukè SAS (France), Infineon Technologies AG (Germany), Cammax Limited (U.K.), IDEMIA France SAS (France), Rambus Inc. (U.S.), HID Global Corporation (a subsidiary of ASSA ABLOY AB) (U.S.), Thales (France), ACTIA Group (France), SECUTIX SA (Switzerland), Hitachi Rail STS S.p.A. (a subsidiary of Hitachi, Ltd.) (Italy), Siemens Mobility GmbH (a subsidiary of Siemens AG) (Germany), Giesecke+Devrient GmbH (Germany), Xerox Holdings Corporation (U.S.), and Softjourn, Inc. (U.S.).
In June 2023, Mastercard Inc. (U.S.) partnered with Transport Holding Company (Ireland) to launch a contactless transit payments system, namely, OVpay, to simplify access to public transport across the country - including trains, buses, metros, and trams and allow travelers to tap in and tap out with their debit card, credit card, or digital wallet.
In July 2022, Conduent Incorporated (U.S.) partnered with Helsinki Regional Transport Authority (Finland) to implement a next-generation fare collection system across its network of buses, trams, trains, metros, and ferries.
|
Particulars |
Details |
|
Number of Pages |
270 |
|
Format |
|
|
Forecast Period |
2024–2031 |
|
Base Year |
2023 |
|
CAGR (Value) |
13.4% |
|
Market Size (Value) |
USD 35.9 Billion by 2031 |
|
Segments Covered |
By Offering
By Technology
By Application
By Sector
|
|
Countries Covered |
North America (U.S., Canada), Europe (Germany, U.K., France, Italy, Netherlands, Spain, Sweden, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Singapore, Australia & New Zealand, Indonesia, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa (Saudi Arabia, UAE, Israel, and Rest of Middle East & Africa) |
|
Key Companies Profiled |
Cubic Transportation Systems, Inc. (U.S.), Atsukè SAS (France), Infineon Technologies AG (Germany), Cammax Limited (U.K.), IDEMIA France SAS (France), Rambus Inc. (U.S.), HID Global Corporation (a subsidiary of ASSA ABLOY AB) (U.S.), Thales (France), ACTIA Group (France), SECUTIX SA (Switzerland), Hitachi Rail STS S.p.A. (a subsidiary of Hitachi, Ltd.) (Italy), Siemens Mobility GmbH (a subsidiary of Siemens AG) (Germany), Giesecke+Devrient GmbH (Germany), Xerox Holdings Corporation (U.S.), and Softjourn, Inc. (U.S.) |
The smart ticketing market study focuses on market assessment and opportunity analysis based on the sales of smart ticketing solutions across different regions, countries, and market segments. This study also includes a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies.
The smart ticketing market is projected to reach $35.9 billion by 2031, at a CAGR of 13.4% from 2024 to 2031.
In 2024, the transportation segment is expected to account for the largest share of over 48.0% of the smart ticketing market. The segment’s large market share is attributed to the growing adoption of smart ticketing in transportation due to the use of digital technologies to manage ticketing and fare collection. Smart ticketing allows passengers to use various methods, such as mobile apps and RFID cards, to purchase and validate tickets. The adoption of smart ticketing in transportation reduces operational costs by minimizing the need for paper tickets. Smart ticketing systems incorporate encryption and unique identifiers, reducing the risk of ticket fraud and counterfeiting. Smart ticketing enables more flexible and complex fare structures such as distance-based pricing, time-based tickets, and zonal fares.
The hospitality segment is expected to register the highest CAGR during the forecast period 2024–2031. The growth of this segment is driven by the increasing use of smart ticketing in the hospitality industry to streamline operations and improve customer service. Smart ticketing is adopted in restaurants to regulate entry to certain areas and ensure privacy. Also, the increasing use of contactless check-in in hotels to offer guests convenience, reduce the time spent in queues, and eliminate the need for physical interaction drive the growth of this segment.
The growth of the smart ticketing market is driven by the increasing use of contactless payments and the growing demand for secure & convenient ticketing solutions. Furthermore, increasing investments in public transport infrastructure are expected to generate growth opportunities for the players operating in this market.
The key players operating in the smart ticketing market are Cubic Transportation Systems, Inc. (U.S.), Atsukè SAS (France), Infineon Technologies AG (Germany), Cammax Limited (U.K.), IDEMIA France SAS (France), Rambus Inc. (U.S.), HID Global Corporation (a subsidiary of ASSA ABLOY AB) (U.S.), Thales (France), ACTIA Group (France), SECUTIX SA (Switzerland), Hitachi Rail STS S.p.A. (a subsidiary of Hitachi, Ltd.) (Italy), Siemens Mobility GmbH (a subsidiary of Siemens AG) (Germany), Giesecke+Devrient GmbH (Germany), Xerox Holdings Corporation (U.S.), and Softjourn, Inc. (U.S.).
Asia-Pacific is expected to register the highest CAGR of over 15.0% during the forecast period. The growth of this market is driven by the growing adoption of smart cards and AI in the region’s travel & tourism sector, economic growth in countries such as China, India, and Japan due to rapid urbanization and industrialization, the rising use of smart ticketing to reduce the costs associated with printing paper tickets, handling cash, and maintaining ticketing machines, government initiatives to gain data-driven insights for better planning in transportation to optimize routes, scheduling, and passenger capacity management.
This report provides pre & post COVID-19 market estimates.
This report provides pre & post COVID-19 market estimates.
This report provides pre & post COVID-19 market estimates.
Published Date: Jan-2024
Published Date: Dec-2023
Published Date: Oct-2023
Published Date: Sep-2023
Published Date: Jan-2023
