Inflated Adoption of Mobile Ticketing Market to Fuel Revenue Growth During the Forecast Period-Persistence Market Research

As per the findings of a new market research report by Persistence Market Research, worldwide revenue of the mobile ticketing market reached US$ 1.2 Bn in 2019, and is anticipated to exhibit an impressive CAGR of 17% during the forecast period (2020 to 2030). Adoption of mobile ticketing systems and apps to drive ticket sales, reduce reliance on printed paper and plastic tickets, and to encourage digitization and cashless payments are all aiding the growth of the mobile ticketing market. The transportation and event sectors will lead the way in terms of sales through 2030, thereby pushing the growth of the global mobile ticketing market in a big way.
Key Takeaways from Mobile Ticketing Market Study
• Among the types, the entertainment segment is expected to witness high growth due to increasing free mobile apps and websites provided by service providers that allow viewers to book their preferable seats.
• The number of smartphone users as well as increasing use of mobile ticketing apps in the transport sector are driving market growth.
• The COVID-19 pandemic has led to restrictions on transportation and entertainment activities across the world, which will hurt market growth in the near term.
• Among the regions, North America held the highest share of around 27% in terms of market value in the global mobile ticketing market in 2019. The market in the South Asia & Pacific region is exhibiting a high growth rate, owing to the high adoption of popular event/movie booking applications among the urban population across the region.
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“The demand for online payment options is rapidly gaining popularity, and is encouraging the governments of various countries to promote cashless economies, which is in line with the global digitalization trend. This demand is creating lucrative opportunities for the mobile ticketing market,” says a PMR analyst.
Rising Urban Population Driving Market Growth
Mobile ticketing is an integrating mobile ticketing platform for the emerging mobile ticket market. The urban population owning smartphones is twice size of the rural population, and also the number of mobile ticketing apps used by them is high as compared to the rural population. Increasing urbanization is fueling the demand for mobile ticketing applications with various features.
Mobile Ticketing Market – Competition Landscape
The report also profiles some of the leading companies operating in the global mobile ticketing market, such as
• Masabi Ltd
• Gemalto N.V.
• inmodo AB
• Margento B.V.
• ShowClix LLC
• Rapidsoft Systems, Inc
• Digital Management, Inc.
• Scheidt & Bachmann GmbH
• Moovel Group
• AEP Ticketing Types Srl

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This release was published on openPR.