Global Smart Ticketing Market

Smart Ticketing Market Size, Share, Growth Analysis, By Component(Hardware, Software, Service), By System(Open Payment System, Smart Card, Near-Field Communication), By Region - Industry Forecast 2024-2031


Report ID: SQMIG20D2185 | Region: Global | Published Date: April, 2024
Pages: 202 |Tables: 63 |Figures: 77

Smart Ticketing Market Insights

Global Smart Ticketing Market size was valued at USD 10.15 billion in 2022 and is poised to grow from USD 11.72 billion in 2023 to USD 37.13 billion by 2031, growing at a CAGR of 15.50% during the forecast period (2024-2031).

The increased integration of developing technologies is the main reason driving the growth in the adoption of smart ticketing solutions. Smooth and effective transport is made possible by the advent of cutting-edge ticketing and payment methods such contactless payment systems, virtual tickets and smart cards.

Additionally, the availability of multi-modal distribution channels through online ticketing systems, smartphones, E-kiosks, and smart ticketing machines is enhancing efficient crowd control. Additionally, shifting consumer preferences for using digital channels to receive transportation services are fuelling industry expansion. Customers are drawn to online ticketing systems by a number of benefits, including shorter wait times compared to standing in queue during rush hour, discounted fares, real-time route updates, and a more tailored mobility experience. The benefits of smart ticketing solutions for transport operators also include decreased maintenance costs, accessibility to an integrated ticketing infrastructure, and cost-effective use of resources including staff, energy, and paper.

As a result, it is anticipated that use of smart ticketing systems would increase over the projected period, assisting in the expansion of the market as a whole. Smart ticketing solutions are becoming more popular not only for use in transport operations, but also for the sporting and entertainment industries, which need tickets for events. When linked with self-service kiosks and POS systems, smart ticketing systems provide scalability. Additionally, real-time customer data is made available through smart ticketing systems, which significantly enhances customer interaction.

For instance, Major League Soccer chose Ticketmaster as its official ticketing partner in March 2023 as part of a multi-year deal that aims to personalise the entire consumer experience using next-generation interactive features, like 3D stadium views. The market's expansion is also being fueled by the capacity to use technology to link to numerous smart & connected devices and offer a unified experience.

US Smart Ticketing Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 10.15 billion

Largest Segment

Open Payment System

Fastest Growth

Open Payment System

Growth Rate

15.50% CAGR

Global Smart Ticketing Market ($ Bn)
Country Share for Europe Region (%)

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Smart Ticketing Market Segmental Analysis

Global smart ticketing market is segmented on the basis of product, component, system and region. By product, the market is segmented into e-kiosk, e-ticket, e-toll, request tracker, smart parking system, ticket machine, ticket validators. By component, the market is segmented into hardware, software, service. by system, the market is segmented into open payment system, smart card, near-field communications. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analysis by Component

In 2022, the hardware sector dominated the market and accounted for almost 51.0% of total sales. Transport operators may now issue and read tickets through a single interface thanks to the implementation of specialized and easily accessible cutting-edge hardware solutions. The adoption of smart ticketing systems as a means of transitioning to a more technologically sophisticated ticketing infrastructure has fueled the expansion of the hardware market. Additionally, the expansion of the hardware segment is anticipated to be fueled by the demand for improvements to outdated transportation ticketing systems.

Over the course of the projected period, the service category is expected to grow significantly. For the purpose of encouraging the usage of public transport systems, a thorough and simple ticketing system is important. In order to make smart ticketing systems easy to use, smart ticketing businesses place an increasing emphasis on providing integration and deployment services. Mobility as a Service, which permits end-to-end booking and payments, is an example of a prominent service offered by smart ticketing firms.

Analysis by System

In 2022, the smart card segment led the market and accounted for more than 47.0% of total revenue. Smart card acceptance is anticipated to increase throughout the projected period due to advantages like longevity, effectiveness, and travel convenience. Local travelers might save up to 69% on travel expenses in 2022, according to Trainline, a UK-based online bus and rail ticket supplier. In addition, many nations, like Hong Kong, South Korea, and Japan, offer multipurpose smart cards that may be used to make purchases at shops and vending machines.

Over the projected period, it is expected that the near-field communication segment would expand significantly. In order to provide a seamless ticketing experience, near-field communication solutions have proven to be essential. Near-field communication transactions can also be verified in under 120 milliseconds. Debit and credit cards, tap-and-go using Quick Response (QR) codes, and other cutting-edge payment methods have made it more convenient for customers to complete various transactions, which is likely to be positive for market expansion.

Global Smart Ticketing Market Size By System (%), 2023 (%)

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Smart Ticketing Market Regional Insights

With a greater than 34.0% sales share in 2022, Europe dominated the market. One of the main factors influencing the need for smart ticketing systems is the European Commission's rising emphasis on the development of intelligent transport systems to address the region's congestion and emission issues. To help the European Commission create policy measures aimed at multimodal travel, the Multimodal Passenger travel Forum was founded in February 2023. Furthermore, the presence of notable businesses like Thales and Giesecke & Devrient GmbH is encouraging for the expansion of the area market.

Over the course of the projected period, Asia Pacific is predicted to have the quickest rate of growth. Given the existence of densely populated nations like China and India, the Asia Pacific area is anticipated to see a growth in the usage of smart ticketing solutions. The market is anticipated to increase favorably as regional digitalization continues to grow. For example, China introduced a train ticketing system in April 2023 that unifies several ticket-selling platforms from over 140 countries into a single smartphone application.

Global Smart Ticketing Market Size By Geography, 2024-2031
  • Largest
  • Fastest

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Smart Ticketing Market Dynamics

Drivers

Growing Demand for Contactless Payments

  • The pandemic has accelerated the adoption of contactless payment methods, including smart ticketing. Consumers are increasingly seeking touch-free and hygienic payment options, making smart ticketing an attractive alternative to traditional ticketing systems.

Increased Security and Fraud Prevention

  • Smart ticketing systems offer enhanced security features, such as encrypted data transmission, authentication mechanisms, and anti-counterfeiting measures. These features help prevent fraud, ticket tampering, and revenue leakage, making smart ticketing a secure option for both service providers and consumers.

Restraints

Interoperability Issues

  • The lack of interoperability between different smart ticketing systems is a major restraint. In many cases, smart ticketing systems are implemented independently by different transportation authorities or service providers, leading to compatibility issues and inconvenience for travellers who need to switch between different systems. Achieving seamless interoperability between various systems remains a complex challenge.

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Smart Ticketing Market Competitive Landscape

Companies are implementing a wide range of techniques to acquire a competitive edge and spur growth. A number of businesses are concentrating on forming creative business partnerships or buying startups or smaller businesses to acquire their knowledge and clientele. By using this strategy, businesses can increase their capabilities and provide clients with more complete solutions. In order to innovate and differentiate their products, businesses are also investing in research and development.

Top Player’s Company Profiles

  • Gemalto NV (Netherlands)
  • Infineon Technologies AG (Germany)
  • Giesecke+Devrient GmbH (Germany)
  • Xerox Corporation (United States)
  • CPI Card Group Inc. (United States)
  • Rambus Inc. (United States)
  • Oberthur Technologies (France)
  • Scheidt & Bachmann GmbH (Germany)
  • Advanced Card Systems Ltd. (Hong Kong)
  • Conduent Inc. (United States)
  • Atos SE (France)
  • Indra Sistemas, S.A. (Spain)
  • Vix Technology (Australia)
  • Parkeon (France)
  • Samsung SDS Co., Ltd. (South Korea)
  • Confidex Ltd. (Finland)
  • Siemens AG (Germany)
  • Thales Group (France)
  • Telvent GIT, S.A. (Spain)

Recent Developments

  • In April 2023, Cubic Corporation announced that it had been selected by the Metropolitan Transportation Authority (MTA) to provide a new fare payment system for the New York City subway, bus, and commuter rail system. The new system will use Cubic's Axon fare collection platform, which includes contactless smart cards, mobile ticketing, and ticket vending machines.
  • In March 2023, Scheidt & Bachmann announced that it had been awarded a contract to provide a new smart ticketing system for the London Underground. The new system will use Scheidt & Bachmann Aperio fare collection platform, which includes contactless smart cards, mobile ticketing, and ticket vending machines.
  • In February 2023, Thales announced that it had been selected by the Dubai Roads and Transport Authority (RTA) to provide a new smart ticketing system for the Dubai Metro and Dubai Tram. The new system will use Thales's Optima fare collection platform, which includes contactless smart cards, mobile ticketing, and ticket vending machines.

Smart Ticketing Key Market Trends

  • Account-based Ticketing: Account-based ticketing (ABT) is gaining prominence in the smart ticketing market. ABT systems allow users to link their payment methods or travel accounts to a central system, eliminating the need for physical tickets or smart cards. Passengers can simply tap or validate their journeys, and the fare is automatically calculated based on the travel data recorded.

Smart Ticketing Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analyses, the global smart ticketing market has witnessed significant growth and transformation in recent years. The increasing demand for efficient and convenient ticketing solutions, advancements in technology, and a focus on enhancing transportation systems have been the key driving factors for the market. Smart ticketing systems offer numerous benefits, such as improved user convenience, streamlined operations, cost savings, and enhanced security. They enable passengers to access and utilize public transportation services seamlessly, reducing the reliance on traditional paper tickets and cash transactions. The integration of multiple modes of transportation into a single ticketing platform has further simplified the travel experience for passengers. The market has also been driven by the growing adoption of contactless payment methods and the need for hygienic, touch-free transactions. Contactless payment options, including smart cards and mobile wallets, have become increasingly popular among consumers, further fuelling the demand for smart ticketing solutions.

Report Metric Details
Market size value in 2023 USD 10.15 billion
Market size value in 2031 USD 37.13 billion
Growth Rate 15.50%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Component
    • Hardware, Software, Service
  • System
    • Open Payment System, Smart Card, Near-Field Communication
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Gemalto NV (Netherlands)
  • Infineon Technologies AG (Germany)
  • Giesecke+Devrient GmbH (Germany)
  • Xerox Corporation (United States)
  • CPI Card Group Inc. (United States)
  • Rambus Inc. (United States)
  • Oberthur Technologies (France)
  • Scheidt & Bachmann GmbH (Germany)
  • Advanced Card Systems Ltd. (Hong Kong)
  • Conduent Inc. (United States)
  • Atos SE (France)
  • Indra Sistemas, S.A. (Spain)
  • Vix Technology (Australia)
  • Parkeon (France)
  • Samsung SDS Co., Ltd. (South Korea)
  • Confidex Ltd. (Finland)
  • Siemens AG (Germany)
  • Thales Group (France)
  • Telvent GIT, S.A. (Spain)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Smart Ticketing Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Smart Ticketing Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Smart Ticketing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Smart Ticketing Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Smart Ticketing Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Smart Ticketing Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Smart Ticketing Market size was valued at USD 10.15 billion in 2022 and is poised to grow from USD 11.72 billion in 2023 to USD 37.13 billion by 2031, growing at a CAGR of 15.50% during the forecast period (2024-2031).

Companies are implementing a wide range of techniques to acquire a competitive edge and spur growth. A number of businesses are concentrating on forming creative business partnerships or buying startups or smaller businesses to acquire their knowledge and clientele. By using this strategy, businesses can increase their capabilities and provide clients with more complete solutions. In order to innovate and differentiate their products, businesses are also investing in research and development. 'Cubic Corporation (United States)', 'NXP Semiconductors N.V. (Netherlands)', 'HID Corporation (United States)', 'Gemalto NV (Netherlands)', 'Infineon Technologies AG (Germany)', 'Giesecke+Devrient GmbH (Germany)', 'Xerox Corporation (United States)', 'CPI Card Group Inc. (United States)', 'Rambus Inc. (United States)', 'Oberthur Technologies (France)', 'Scheidt & Bachmann GmbH (Germany)', 'Advanced Card Systems Ltd. (Hong Kong)', 'Conduent Inc. (United States)', 'Atos SE (France)', 'Indra Sistemas, S.A. (Spain)', 'Vix Technology (Australia)', 'Parkeon (France)', 'Samsung SDS Co., Ltd. (South Korea)', 'Confidex Ltd. (Finland)', 'Siemens AG (Germany)', 'Thales Group (France)', 'Telvent GIT, S.A. (Spain)'

The pandemic has accelerated the adoption of contactless payment methods, including smart ticketing. Consumers are increasingly seeking touch-free and hygienic payment options, making smart ticketing an attractive alternative to traditional ticketing systems.

Account-based Ticketing: Account-based ticketing (ABT) is gaining prominence in the smart ticketing market. ABT systems allow users to link their payment methods or travel accounts to a central system, eliminating the need for physical tickets or smart cards. Passengers can simply tap or validate their journeys, and the fare is automatically calculated based on the travel data recorded.

With a greater than 34.0% sales share in 2022, Europe dominated the market. One of the main factors influencing the need for smart ticketing systems is the European Commission's rising emphasis on the development of intelligent transport systems to address the region's congestion and emission issues. To help the European Commission create policy measures aimed at multimodal travel, the Multimodal Passenger travel Forum was founded in February 2023. Furthermore, the presence of notable businesses like Thales and Giesecke & Devrient GmbH is encouraging for the expansion of the area market.

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Global Smart Ticketing Market

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