Dublin, April 21, 2021 (GLOBE NEWSWIRE) -- The "Smart Ticketing Market by Component (Hardware, Software, and Services), Application (Parking and Transportation (Roadways, Railways, and Airways), and Sports and Entertainment), Organization Size, and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global smart ticketing market size is projected to grow from USD 7.2 billion in 2020 to USD 16.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 14.5% during the forecast period.
The smart ticketing market is gaining traction due to affordable access to rapid transit with the help of smart transit systems, huge demand for smart ticketing from sports, entertainment, and tourism industries, advanced technologies in the smart ticketing systems, rising adoption of contactless payments, upsurge in the intelligent transportation market, and growing adoption of wearable technologies.
Based on application, the parking and transportation segment is expected to hold a larger market share during the forecast period
The parking and transportation segment is projected to account for a larger market share from 2020 to 2026. The mobility requirements of the public are growing. Therefore, there is demand for the intelligent networking of mobility platforms that contribute toward reducing traffic congestion and improving efficiencies during peak times and to support better travel experiences. The smart ticketing systems enable passengers to load tickets or credit before their travel, thereby speeding up boarding times and reducing queues. Airports, shopping centers, and hospitals are building large parking spaces. To increase parking capacities, digital platforms for parking management are deployed. The digitization of the parking industry is turning vehicle license plate numbers into parking tickets.
Based on Organization size, the SMEs segment to grow at the highest CAGR during the forecast period
SMEs segment is expected to grow at the highest CAGR during the forecast period as these organizations are focused on the deployment of smart ticketing solutions to improve competitiveness, reduce operating costs, and increase their revenue. With advancements in ticketing technologies and intense competition among vendors, the cost of automating the ticketing system is declining. This, in turn, would enable SMEs to adopt smart ticketing solutions and services in the near future. Governments are partnering with SMEs with a view to promoting the use of smart technology solutions in specific industries, such as transportation in Denmark and tourism in New Zealand.
Asia Pacific (APAC) region to record the highest growth in the smart ticketing market
APAC is expected to grow at the highest CAGR during the forecast period owing to the presence of emerging economies such as China, India, Indonesia, Malaysia, and Thailand. These countries are focusing on building smart cities due to strong economic growth, the rise in population, and rapid urbanization. APAC countries are also attracting investments, promoting new technologies, and developing innovative solutions to improve the quality of life. There is an emphasis on the development of advanced and interoperable automated fare collection systems, such as smart cards and NFC-enabled devices, to increase both the efficiency of transport systems and ridership by giving commuters a smooth travel experience. Developed countries such as Japan and Singapore are focusing on technology-enabled transport systems by making heavy technology investments.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Smart Ticketing Market
4.2 Market, by Component
4.3 Market, by Service
4.4 Market, by Application
4.5 Market, by Organization Size
4.6 Market, by Region
4.7 Market, by Country
5 Market Overview and Market Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Affordable Access to Rapid Transit with the Help of Smart Transit Systems
5.2.1.2 Huge Demand for Smart Ticketing from Sports, Entertainment, and Tourism Industries
5.2.1.3 Advanced Technologies in Smart Ticketing Systems
5.2.1.4 Rising Adoption of Contactless Payments
5.2.1.5 Upsurge in the Intelligent Transportation Market
5.2.1.6 Growing Adoption of Wearable Technologies
5.2.2 Restraints
5.2.2.1 High Setup Costs for Smart Ticketing Systems
5.2.2.2 Centralized Framework of Smart Ticketing Systems
5.2.3 Opportunities
5.2.3.1 Use of Blockchain to Boost the Smart Ticketing Industry
5.2.4 Challenges
5.2.4.1 Data Safety and Security Issues
5.2.4.2 Designing an Open Architecture
5.3 Case Study Analysis
5.4 Disruptive Technologies
5.4.1 Near-Field Communications
5.4.2 Qr Code
5.4.3 Wearables
5.5 Trade Analysis
5.6 Value Chain Analysis
5.7 Ecosystem
5.8 Porter's Five Forces Model
5.8.1 Threat of New Entrants
5.8.2 Threat of Substitutes
5.8.3 Bargaining Power of Buyers
5.8.4 Bargaining Power of Suppliers
5.8.5 Competitive Rivalry
5.9 Patent Analysis
5.10 Average Selling Price Trend
5.11 COVID-19 Market Outlook for Smart Ticketing Market
5.11.1 Cumulative Growth Analysis
6 Smart Ticketing Market, by Component
6.1 Introduction
6.2 Hardware
6.2.1 Ticketing Mobile Terminals/Ticketing Machines
6.2.2 Readers
6.2.3 Validators
6.2.4 Hardware: Market Drivers
6.2.5 Hardware: COVID-19 Impact
6.3 Software
6.3.1 Software: Market Drivers
6.3.2 Software: COVID-19 Impact
6.4 Services
6.4.1 Services: Market Drivers
6.4.2 Services: COVID-19 Impact
6.4.3 Consulting
6.4.4 Implementation
6.4.5 Support and Maintenance
7 Smart Ticketing Market, by Application
7.1 Introduction
7.1.1 Applications: Market Drivers
7.1.2 Applications: COVID-19 Impact
7.2 Parking and Transportation
7.2.1 Roadways
7.2.2 Railways
7.2.3 Airways
7.3 Sports and Entertainment
8 Smart Ticketing Market, by Organization Size
8.1 Introduction
8.1.1 Organization Size: Market Drivers
8.1.2 Organization Size: COVID-19 Impact
8.2 Small and Medium-Sized Enterprises
8.3 Large Enterprises
9 Smart Ticketing Market, by Region
9.1 Introduction
9.2 North America
9.3 Europe
9.4 Asia-Pacific
9.5 Rest of the World
10 Competitive Landscape
10.1 Overview
10.2 Market Evaluation Framework
10.3 Key Market Developments
10.3.1 Product Launches
10.3.2 Deals
10.4 Market Share Analysis of Top Players
10.5 Historical Revenue Analysis
10.6 Company Evaluation Quadrant Overview
10.7 Company Evaluation Quadrant Methodology and Definitions
10.7.1 Star
10.7.2 Emerging Leaders
10.7.3 Pervasive
10.7.4 Participants
10.8 Company Product Footprint Analysis
10.9 Company Market Ranking Analysis
11 Company Profiles
11.1 Introduction
11.2 Cubic
11.3 Scheidt & Bachmann
11.3.5 Analyst's View
11.4 Indra
11.5 Thales
11.6 Giesecke+Devrient
11.7 Hitachi Rail
11.8 Act (Fujitsu)
11.9 Conduent
11.10 Hid Global
11.11 Xerox
11.12 Infineon Technologies
11.13 Siemens
11.14 Init
11.15 Nxp Semiconductors
11.16 Idemia
11.17 Masabi
11.18 Lit Transit
11.19 Corethree
11.20 Ticketer
11.21 Payiq
11.22 Confidex
11.23 Secutix
11.24 Cammax
11.25 Atsuke
11.26 Flowbird Group
12 Adjacent/Related Markets
12.1 Mobility-As-A-Service Market
12.1.1 Market Definition
12.1.2 Market Overview
12.1.3 Mobility-As-A-Service Market, by Service Type
12.1.4 Mobility-As-A-Service Market, by Business Model
12.1.5 Mobility-As-A-Service Market, by Solution Type
12.1.6 Mobility-As-A-Service Market, by Transportation Type
12.1.7 Mobility-As-A-Service Market, by Application Type
12.1.8 Mobility-As-A-Service Market, by Operating System
12.1.9 Mobility-As-A-Service Market, by Region
12.2 Smart Transportation Market
12.2.1 Market Definition
12.2.2 Market Overview
12.2.3 Smart Transportation Market, by Transportation Mode
12.2.4 Smart Transportation Market, by Solution in Roadways
12.2.5 Smart Transportation Market, by Service in Roadways
12.2.6 Smart Transportation Market, by Solution in Railways
12.2.7 Smart Transportation Market, by Service in Railways
12.2.8 Smart Transportation Market, by Solution in Airways
12.2.9 Smart Transportation Market, by Service in Airways
12.2.10 Smart Transportation Market, by Solution in Maritime
12.2.11 Smart Transportation Market, by Service in Maritime
12.2.12 Smart Transportation Market, by Region
12.3 Automated Fare Collection Market
12.3.1 Market Definition
12.3.2 Market Overview
12.3.3 Automated Fare Collection Market, by Component
12.3.4 Automated Fare Collection Market, by Application
12.3.5 Automated Fare Collection Market, by Service Type
12.3.6 Automated Fare Collection Market, by Technology
12.3.7 Automated Fare Collection Market, by Industry
12.3.8 Automated Fare Collection Market, by Region
12.4 Near-Field Communications Market
12.4.1 Market Definition
12.4.2 Market Overview
12.4.3 Near-Field Communications Market, by Operating Mode
12.4.4 Near-Field Communications Market, by Offering
12.4.5 Near-Field Communications Market, by Application
12.4.6 Near-Field Communications Market, by Region
13 Appendix
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