Press release
Contactless Ticketing Solutions Market To Increase at Steady Growth Rate 2018 to 2028
When it comes to the contactless ticketing solutions, the two main options available are mobile NFC (Near Field Communication) and smart cards. Contactless cards are the ones customers are most aware of. In contactless ticketing, people just hold their card a few inches away from a reader, to securely authenticate or to pay for a passenger’s pass or ticket. A contactless ticketing solution by a mobile NFC can store tickets on the mobile phone digitally, and the NFC-enabled mobile phone can be used as a contactless transport ticket. To top up, a passenger has to just tap the mobile device on the NFC reader at the barrier or when boarding the bus or train. Many countries are already enjoying the benefits of near field communication technology for contactless ticketing solutions. Due to the increase in fraudulent activities and the need to provide secure services to customers, contactless ticketing solution providers are offering security-based solutions to fulfil this huge demand in the contactless ticketing solutions market. The introduction of reliable and safe contactless ticketing solutions has brought about a wide range of applications of contactless ticketing in different sectors. Contactless ticketing solutions can also be used for fare collection via mobile ticketing and tolls.
Global Contactless Ticketing Solutions Market: Drivers and Challenges
Contactless payments or contactless ticketing solutions are fast-paced without the requirement of any password or pin to process the payment. Thus, these contactless ticketing solution based transactions are performed quickly without compromising on privacy or security. This is one of the major factors driving the growth of the contactless ticketing solutions market. The increasing demand for mobile and web applications, and real-time information, are some of the major factors driving the growth of the contactless ticketing solutions market. Faster and easier transactions make the boarding of passengers smoother, and hence, is another factor anticipated to drive the growth of the contactless ticketing solutions market during the forecast period. Moreover, the increased adoption of NFC payments is anticipated to foster the demand of the contactless ticketing solutions market over the forecast period.
However, concerns regarding security and privacy of contactless ticketing solutions have created lack of trust among the public, and the absence of a pin facility during the contactless ticketing solutions based transaction further increases the concerns of customers. This is one of the key factors hampering the growth of the contactless ticketing solutions market. Moreover, contactless ticketing cards are accepted at less locations as compared to magnetic striped cards, which is another factor restraining the growth of the contactless ticketing solutions market.
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Global Contactless Ticketing Solutions Market: Segmentation
The contactless ticketing solutions market can be segmented on the basis of device type, vertical, and region.
The contactless ticketing solutions market segmentation by device type,
Smart Cards
NFC Chips
Mobile Handsets
Others
The contactless ticketing solutions market segmentation by vertical,
Transportation
Land Transport
Air Transport
Water Transport
Media and Entertainment
Others
Global Contactless Ticketing Solutions Market: Competition Landscape
Key Vendors
Examples of some of the market participants in the global contactless ticketing solutions market identified across the value chain include CPI Card Group Inc., Infineon Technologies AG, Proxama, PLC., Texas Instruments, Inc., Wirecard AG, NXP Semiconductors N.V., Atos SE, Giesecke & Devrient GmbH, American Express Company, and Oberthur Technologies S.A.
Global Contactless Ticketing Solutions Market: Regional Outlook
The contactless ticketing solutions market can be segmented into North America, Latin America, Europe, CIS & Russia, Japan, APEJ, and Middle East & Africa.
Growing economies such as China and Japan are set to be emerging regions in the contactless ticketing solutions market in the coming years, due to increasing investments from their governments and companies providing complete automation ticketing services and systems. Europe is anticipated to lead the contactless ticketing solutions market, followed by North America, during the forecast period, due to fast adoption of new technology such as contactless ticketing solutions in these regions. Asia Pacific is estimated to significantly contribute to the contactless ticketing solutions market, due to the growing demand for smart ticketing and automated systems from the developing countries in this region.
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The report covers exhaustive analysis on,
Market Segments
Market Dynamics
Historical Actual Market Size, 2013-2017
Market Size & Forecast, 2018 to 2028
Value Chain
Market Current Trends/Issues/Challenges
Competition & Companies Involved
Market Drivers and Restraints
Regional analysis includes,
North America
U.S.
Canada
Latin America
Brazil
Mexico
Argentina
Chile
Peru
Rest of Latin America
Europe
EU – 4 (Germany, France, Italy, Spain)
U.K.
BENELUX (Belgium, Netherlands, Luxemburg)
NORDIC (Norway, Denmark, Iceland, Sweden)
Eastern Europe (Poland, Ukraine, Czech Rep., etc.)
Rest of Europe
CIS & Russia
Japan
APEJ
Greater China
India
Korea
ASEAN Countries
Rest of APEJ
Middle East & Africa
GCC Countries
Turkey
Iran
Israel
South Africa
Rest of MEA
The report is a compilation of first-hand information, qualitative & quantitative assessment by industry analysts, as well as inputs from industry experts & industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
Report Highlights
Detailed overview of parent market
Changing market dynamics of the industry
In-depth market segmentation
Historical, current, and projected market size in terms of value
Recent industry trends and developments
Competitive landscape
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth
A neutral perspective towards market performance
Must-have information for market players to sustain and enhance their market footprint
Report Analysis@ https://www.factmr.com/report/1876/contactless-ticketing-solutions-market
About Fact.MR
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