Smart Ticketing Market Latest Trends, Business Opportunity and Future Scope 2022 to 2027: Gemalto NV, NXP Semiconductors, CPI Card Group, Cubic, Xerox

Global Smart Ticketing Market 2022 research report offers qualitative and quantitative insights in relation to industry growth rate, market segmentation, Smart Ticketing market size, demand and revenue. The current Smart Ticketing market trends that are expected to influence the future prospects of the industry are analyzed in the report. The report further investigates and assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.

The global smart ticketing market was valued at USD 12.36 billion in 2020, and it is expected to reach USD 25.33 billion by 2026, registering a CAGR of 12.9%, during the period of 2021-2026. 

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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Smart Ticketing Market: HID, Gemalto NV, NXP Semiconductors, CPI Card Group, Cubic, Xerox, and others.

Industry News:

August 2021 - French public transport operator Keolis chose Paragon ID for implementing the Tap and Pay solutions across Menton and French Riviera bus networks. The system starts testing in August, and 70,000 residents in the area can use the feature with their contactless bank cards by the beginning of 2020. The system will use Paragon ID's P One validator to pay for the tickets on the bus conveniently and at a fast pace.

May 2021 - Cubic Transportation Systems (CTS), a business division of Cubic Corporation, announced that Chicago Transit Authority (CTA) and Pace Suburban Bus (Pace) launched the virtual Ventra card to improve the customer payment experience for tap and fair. This virtual card is implemented on Google Pay for android smartphone users in the Chicagoland area for having contactless fare payment options while traveling on Pace buses and CTA trains and buses.

September 2021 - HID Global announced implementing a software development kit (SDK) in their ticketing solution; this kit is fully compliant and certified to Calypso HCE standards to give customers a convenient and secure mobile ticketing solution on their smartphones. It also protects data stored in mobile wallets and prevents frauds occurred due to duplication.

June 2021 - NXP Semiconductors N.V. (NXP) and Washington Metropolitan Area Transit Authority (Metro) launched SmartTrip with the help of Cubic Transportation Systems (CTS), a business division of Cubic Corporation. The SmartTrip is available on Google Pay and delivers a contactless and straightforward payment option to Metro trains or buses users.

May 2021 - Conduent Incorporated announced that one of the business units, Conduent Transportation, successfully introduced an account-based ticketing system for contactless payments. This system is implemented on Brescia Mobilità's buses. As of now, the system is active on 220 buses in Brescia, Italy, and 14 nearby municipalities. The account-based ticketing system will allow passengers to pay their fare conveniently and without contact.

Market Overview:

Smart ticket, as a substitute to the traditional paper-based ticketing, gained traction in recent times, owing to the emphasis on the digitization of ticketing processes. Smart tickets can save a passenger’s time by eliminating the need to wait in line to buy a ticket. Covering both smartcards and apps on mobile phones, the technology evolved significantly and emerged as a better alternative to paper tickets. Smart ticketing is unconventional to the traditional paper or cardboard ticket for public transport. The focus is on its use for roadway, railway, and airways services. Smart ticketing is a system that electronically stores a ticket on a microchip and enables seamless transportation and payment service for consumers.

Market Growth:

Smart cards' growth for smart ticketing systems, coupled with the growth prospects from multiple applications, increases the demand for other ticketing systems, such as contactless methods through smartphones and the latest devices, smart wearables. Smart wearable manufacturers, including Samsung, have enabled payment through their smartwatches. Most device manufacturers are making the payments work through their mobile wallet payment-enabled services, such as Apple Pay, Samsung Pay, Garmin Pay, Fitbit Pay, and GooglePay. Although the payments through smartwatches are still in their initial stages, they show a lot of potentials. Such advancements are expected to enable travelers to purchase tickets through their wearable devices.

Regional Insights:

Europe is the home of the leading smart ticketing solution vendors in Europe, such as Infineon Technologies, Gemalto, and Giesecke+Devrient (Germany), which are also increasing their presence in this market by offering integrated payment solutions through partnerships with smart ticket developers and operators.

Global Smart Ticketing Market Split by Product Type and Applications:

This report segments the global Smart Ticketing market on the basis of Types are:

Ticket Machine

E-Ticket

E-Kiosk

On the basis of Application, the Global Smart Ticketing market is segmented into:

Railways and Metros

Sports and Entertainments

Airlines

Buses

Others

Regional Analysis For Smart Ticketing Market:

North America (The United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

Influence of the Smart Ticketing Market Report:
-Comprehensive assessment of all opportunities and risks in the Smart Ticketing market.
-The detailed study of business strategies for the growth of the Smart Ticketing market-leading players.
-Conclusive study about the growth plot of the Smart Ticketing market for forthcoming years.
-In-depth understanding of Smart Ticketing market-particular drivers, constraints, and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the Smart Ticketing market.

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What are the market fundamentals that are described in this report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Global Smart Ticketing Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

The research includes historic data from 2017 to 2022 and forecasts until 2027 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Finally, researchers throw light on the pinpoint analysis of Global Smart Ticketing. It also measures the sustainable trends and platforms which are the basic roots behind the market growth. The degree of competition is also measured in the research report. With the help of SWOT and Porter’s five analysis, the market has been deeply analyzed. It also helps to address the risk and challenges in front of the businesses. Furthermore, it offers extensive research on sales approaches.

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