Smart Ticketing Market Analysis Report By Component, By Product, By System, By End Use, By Region And Segment Forecasts From 2019 To 2026

Industry Insights

The global smart ticketing market size was accounted for USD 11.3 billion in 2018. It is anticipated to grow at a CAGR of 14.9% over the forecast period, 2019 to 2026. In public transportation, the rising adoption of e-ticketing systems is projected to boost the market growth. In addition, these systems are cost-effective and highly efficient than paper-based tickets. The growing cashless payment transactions are also supporting the demand for smart ticketing solutions.

The increasing trend of blockchain technology in e-ticketing is expected to surge the market growth. Moreover, the growing demand for contactless smart cards and mobile apps are projected to increase the need for smart ticket systems. These systems are highly compatible and can be integrated with smart solutions.

In addition, these systems provide enhanced consumer engagement through additional services. It allows access to different traveling data of passengers via the transport network. This solution also helps operators to transmit ticket data from physical to smart cards.

Several e-ticketing applications offer an intuitive interface for passengers through mobile devices. Passengers can easily download e-tickets through the internet. Card management systems enable operators to provide smart cards to consumers & also provide additional support services for security concerns.

Smart ticketing tools help to integrate smart cards, web portals with analytic and back-office process units. This solution also offers easy transaction of data. Additionally, it allows passengers to book multiple tickets with ease & convenience. All these key factors are anticipated to offer ample growth opportunities for the market.

Component Insights

The smart ticketing market is fragmented into hardware, services, and software depending on the component. The software component segment is projected to grow at a substantial rate during the forecast period.  Software solutions help in managing smart card transactions & their applications. These solutions also benefit customers through customer interaction services.

The service type segment is anticipated to grow at the fastest CAGR from 2019 to 2026. In the travel sector, the growing trend of digitalization is proliferating the demand for ticketing services. Ticketing as a service (TaaS) helps to measure accurate fare requiring for passengers while traveling.

Product Insights

The market is divided into e-ticket, e-kiosk, request tracker, smart parking systems, ticket validators, ticket machines, e-toll, and others. In 2018, the e-ticket type segment led the market with the highest share in the market. E-tickets provide greater security than paper-based ticketing solutions. The increasing numbers of mobile devices are supporting segmental growth.

The smart parking systems segment is anticipated to grow at the fastest CAGR during the forecasted period. Development in smart parking technologies has paved the way for the adoption of smart cards. In addition, rising traffic concerns are boosting demand for smart solutions.

System Insights

Systems are comprised of smart cards, near-field communication, and an open payment system. In 2018, the smart card type segment led the market with the highest share, due to the growing use of online payment solutions. Continuous innovation in smart card solutions helps to prevent data hacking, through encryption and authentication.

The near-filed communication system segment is anticipated to propel at the fastest CAGR during the forecasted period. These NFC-based systems are used at parking, garages, and transportation gates with contactless card transactions. It also provides a secured payment option with fewer human interventions.

End-Use Insights

Depending on end-use, the smart ticketing market is fragmented into transportation, sports & entertainment, parking, and others. In the transportation sector, smart ticketing tools enable information storage, purchase, tickets validation through debit cards, and credit cards. In addition, these smart ticket systems offer various benefits such as business intelligence and cost-saving.

The Sports & entertainment segment is estimated to register the fastest CAGR from 2019 to 2026. Various sports event organizers focus on enhancing the consumer experience through more advanced ticketing and convenient solutions. This reduces cash flows & provides fast service to consumers.

Regional Insights

In 2018, Europe accounted for over USD 4.1billion in the overall market. European countries focus on providing advanced & rapid transport services to the public. The presence of global players including Gemalto NV, Infineon Technologies, Giesecke & Devrient GmbH is also contributing to market growth. The adoption of technologies such as NFC, bar code, QR code is increasing the need for ticketing solutions.

Asia Pacific is projected to register the highest CAGR from 2019 to 2026. Supportive government initiatives across India, and China for digital payment modes are expected to bolster the market growth in the coming few years. For example, the government of India has introduced the Digital India initiative to promote digital activities.

Impact of COVID-19

COVID-19 pandemic has significantly impacted the market. Public travel, international visits have been banned owing to lockdown, and social distancing regulations. Thus, due to the coronavirus crisis, public transport providers have to deal with a reduced number of passengers.

However, the market is projected to grow at a healthy rate over the forecast period. Step by step, restaurants, shops, and schools are getting back to normal. This is projected to boost the need for public transport facilities. Amid the coronavirus crisis, owing to healthcare measures the people prefer to buy tickets from online sources. Hence, passengers are purchasing tickets through fast and easy ways including scan & pay, QR code, and ID-based ticketing solutions.

Smart Ticketing Market Share Insights

Leading players in the market include Cubic Corporation; CPI Card Group, Confidex Ltd, Giesecke&Devrient GmbH, Gemalto NV, NXP Semiconductors, and Infineon Technologies AG.

Major companies engage in new product development, innovations, and strategic partnerships to expand their reach across the globe. For example, in 2018, NXP Semiconductors has partnered with Google LLC to develop a contactless solution using the Google Pay platform. Key players in the market invest in R&D activities to develop new ticketing solutions.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2015 to 2026. For this study, Million Insights has segmented the global smart ticketing market report based on component, product, system, end-use, and region:

• Component Outlook (Revenue, USD Billion, 2015 - 2026)
    • Hardware
    • Software
    • Service

• Product Outlook (Revenue, USD Billion, 2015 - 2026)
    • E-kiosk
    • E-ticket
    • E-toll
    • Request Tracker
    • Smart Parking System
    • Ticket Machine
    • Ticket Validators
    • Others

• System Outlook (Revenue, USD Billion, 2015 - 2026)
    • Open Payment System
    • Smart Card
    • Near-field Communication

• End-Use Outlook (Revenue, USD Billion, 2015 - 2026)
    • Parking
    • Sports & Entertainment
    • Transportation
    • Others

• Regional Outlook (Revenue, USD Billion, 2015 - 2026)
    • North America
        • U.S.
        • Canada
    • Europe
        • Germany
        • U.K.
    • The Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
    • Middle East & Africa (MEA)