Rockville, Jan. 16, 2024 (GLOBE NEWSWIRE) -- According to a new study by Fact.MR, a market research and competitive intelligence provider, the global Mobile Ticketing Market is estimated at US$ 2,818.9 million in 2024. The market is projected to grow significantly, with a 15.7% CAGR through 2034. The market is projected to surpass a valuation of US$ 12,125.6 million by 2034.
The mobile ticketing business has expanded fast in recent years due to the increasing popularity of smartphones and the convenience they provide. Users can purchase and keep tickets on their mobile devices, eliminating the need for paper tickets and improving the ticketing experience.
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| Report Attribute | Details |
| Value Projection (2034) | USD 12,125.6 Million |
| Growth Rate (2024-2034) | 15.7% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 24 Tables |
| No. of Figures | 120 Figures |
In the coming years, the industry is likely to expand further, with more companies offering mobile ticketing services and consumers turning to their mobile devices for all of their ticketing needs.
The increased use of smartphones and the internet has increased demand for mobile ticketing in the transportation industry. This has contributed to the expansion of the mobile ticketing market since it gives travelers a simple and hassle-free way to purchase and use tickets.
The mobile ticketing solution also allows transportation operators to reduce operational costs while increasing efficiency. Furthermore, combining mobile ticketing with other technologies, such as GPS and real-time tracking, has improved commuters' overall transportation experience.
With the combination of the convenience and ease of use of mobile ticketing apps, the mobile ticketing industry is likely to rise in the future years. Consumers are increasingly turning to mobile ticketing apps for their travel and entertainment demands as the internet becomes more widely available.
Mobile ticketing apps have numerous advantages, including the ability to purchase tickets from anywhere at any time, and being able to store and access tickets while on the go. This eliminates the need to print and carry paper tickets, making it a more handy and environmentally friendly solution.
“Initiative to reduce paper consumption and crowd on the traditional ticket window is projected to expand the market in the coming years. Moreover, owing to technical improvements, shifting consumer preferences, and increased use of mobile devices and digital payment options may present opportunities for small and mid-sized market players." says a Fact.MR analyst.
Key Takeaways from the Market Study
- The global mobile ticketing market is projected to expand at a CAGR of 15.7% from 2024 to 2034.
- The North America mobile ticketing market is expected to grow at a CAGR of 14.8% from 2024 to 2034.
- The market is expected to register a CAGR of 14.5% in the United States over the forecast period.
- The mobile ticketing industry in China is expected to rise at a CAGR of 16.1% through 2034.
- Based on the application type, the hotel bookings segment leads the market, with an expected market share of 31.5% in 2024.
Competitive Landscape
The mobile ticketing market is constantly shifting as new players enter and established competitors expand their capabilities. These companies provide a variety of mobile ticketing solutions to customers, including mobile ticketing apps and mobile websites.
In 2022, StubHub introduced a new mobile ticketing application called ‘StubHub Mobile Entry.’ This feature enabled users to immediately access and display their event tickets from their mobile devices. It sought to increase convenience, eliminate the need for physical tickets, and provide StubHub users with a consistent ticketing experience.
Key Companies Profiled:
- Helpshift
- CGI Group
- Proxima
- Airbag
- Softjourn
- Coast to Coast Tickets
- Alliance Tickets
- RazorGator
- Ace Ticket WorldWide
- Masabi
- Smart Card IT Solutions
- Scheidt & Bachmann
- Xminnov
- Zendesk
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What Factors Influence the United States Mobile Ticketing Market's Continued Growth?
"The Increasing Embrace of Contemporary Technologies and Consumer inclination towards Time Efficiency"
The projected worth of the mobile ticketing market in the United States in 2024 is approximately US$ 806.2 million. Over the anticipated timeframe, the market is poised to experience a noteworthy Compound Annual Growth Rate (CAGR) of 16.3%, reaching a valuation of US$ 4,656.2 million by 2034.
The United States has witnessed a notable uptick in the utilization of mobile ticketing applications across various sectors such as sporting events, theme parks, and museums. The rising prevalence of smartphones and wearable devices has transformed mobile ticketing into a convenient and widely embraced method for Americans to acquire tickets. Furthermore, the COVID-19 pandemic has expedited the adoption of mobile ticketing due to its capacity for contactless transactions and the diminished reliance on physical tickets. Consequently, the mobile ticketing market in the United States is anticipated to sustain its growth trajectory in the forthcoming years.
Explore More Related Studies Published by Fact.MR Research:
Mobile Payment Market: Demand for mobile payments is likely to garner a market value of US$ 42 Billion in 2022 and is expected to register a staggering double digit CAGR of 30% by accumulating a market value of US$ 590 Billion through the assessment period 2022-2032
Smartphone Market: The smartphone market is estimated to be valued at US$ 802.1 billion in 2024. The market is expected to expand at a CAGR of 7.30% through 2034. Anticipated growth is set to propel the market to an impressive size of US$ 1,615.6 billion by 2034.
Mobile and Handheld Gaming Market: The global mobile and handheld gaming market size is on track to reach US$ 9,660.1 million in 2024. The market is poised for rapid growth, with an extraordinary compound annual growth rate (CAGR) of 13.8% projected through 2034. This expansion is anticipated to elevate the market to a substantial valuation of US$ 35,189.6 million by 2034.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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