Press release
Smart Ticketing Market 2022 Report Analysis, [CAGR of 19.7%], Share, Revenue, Growth Rate With Forecast till 2030
Report Ocean published the latest research report on the Smart Ticketing market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Smart Ticketing market study demonstrates a detailed examination of the business state, which represents creative ways for company growth, financial factors such as production value, key regions, and growth rate.The "Smart Ticketing" market will witness a CAGR of 19.7% during the forecast period 2017-2023.
The digital economy affects the world's trajectory and the societal well-being of common citizens. In addition, it influences everything from resource assignment to income allocation and economic growth. The adoption of the Internet of Things is pushing significant market growth. Additionally, in 5-10 years, the latest technologies such as robotics, AI, and augmented reality can illustrate around 27% of ICT spending. Consumer demand for access to content and products at any time and from any location is propelling the ICT market forward. The ICT sector is lucrative for vendors since it has about 7 billion mobile subscribers and 3 billion Internet, users.
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Brief: Smart ticketing refers to a system in which a travel ticket is stored digitally on a microchip rather than a print out' and is generally embedded on a smart card. Smart ticketing is mainly used in public transport supported by various governments and a sustainable transport policy' which improves the overall transportation services with increased usage of NFC-enabled mobile phones. Smart ticketing has also brought innovation to sports' entertainment' BFSI' and healthcare industries and are being widely implemented in many industries. Globally' increasing demand for cashless payments has enabled smart ticketing companies to innovate on mobile payment options.
Market Analysis:
According to Reportocean Research' it is estimated that the "Smart Ticketing" market will witness a CAGR of 19.7% during the forecast period 2017-2023. The market is analyzed based on products' verticals' and regions. The products segment is further divided into ticket machine' ticket system' smart parking' smart bills' and others.
Technology and Product Analysis:
The smart ticketing technologies such as NFC' RFID' open payment system' QR code' and barcode are being implemented in transportation' sports' and entertainment industries. The increasing demand for real-time information' mobile & web applications' and smart card is the major driver for the market growth.
The major products covered in the report are ticket machine' ticket system' smart parking' smart bill' and others. Most of the smart ticketing players are offering security-based solutions' which have a huge demand in the smart ticketing market due to increase in fraud activities and the need to provide secure services to the customers. Further' transportation and entertainment industry players are investing in the smart ticketing products such as ticket vending machine' ticket system' smart parking' and smart bill.
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Vertical Analysis:
The major verticals covered in the report are transportation' sports' entertainment' and others. Recently' BFSI and healthcare industries have started implementing smart ticketing by issuing smart cards' which reduces the customers queueing' paperwork' and moreover' it is cost-effective. Many sports authorities' entertainment agencies' and public & private transport operators are investing in smart ticketing to increase customer security' improve their operations' and improve customer satisfaction. Additionally' public & private transport players such as railways' roadways' and airways are now reaping the benefits from smart ticketing that allows them to offer the best prices' less operational cost' and better customer longevity with improved services & solutions.
The transportation industry is expected to hold the major market share' growing at a CAGR of 19.0% during the forecast period 2017-2023. In the transportation industry' land transport mode segment is expected to contribute the major market revenue followed by airways and water transport. Increasing demand for smart technologies by public transportation authorities and operators to automate their ticketing process is expected to drive the market growth.
Regional Analysis: The regions covered include the Americas' Asia Pacific' Europe' and MEA. Europe is set to be the leading region followed by the Americas. Asia Pacific is set to be an attractive emerging market for key stakeholders in the next 5-6 years. Globally' rising investment activities from companies and governments to provide complete automation ticketing systems services is expected to boost the market growth. Some of the key players included in the report are NXP Semiconductors' Xerox Corporation' Rambus' Cubic Corporation' Gemalto NV' and Others.
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Competitive Analysis and Benefits: Most of the smart ticketing companies are expanding their operations by investing majorly in public transportation across all smart cities in the world.
The study covers and analyzes the "Smart Ticketing" market. Bringing out the complete key insights of the industry' the report aims to provide an opportunity for players to understand the latest trends' current market scenario' government initiatives' and technologies related to the market. In addition' helps the venture capitalists in understanding the companies better and take informed decisions.
Region/Country Cover in the Report
Regions- Americas (The US' Canada' Mexico)' Europe (The UK' Germany' France)' Asia-Pacific (India' China' ANZ) and MEA (UAE' Iran and South Africa).
Key Players Covered in the Report
Cubic Corporation' Rambus Inc. ' Infineon Technologies AG' NXP Semiconductors' CPI Card Group Inc.' Xerox Corporation' Gemalto N.V. 'Oberthur Technologies' Confidex Ltd.' Masabi Ltd. '
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Table of Content:
Market Definition and Overview
Research Method and Logic
Market Competition Analysis
Product and Service Analysis
Strategies for Company to Deal with the Impact of COVID-19
Market Segment by Type, Historical Data and Market Forecasts
Market Segment by Application, Historical Data and Market Forecasts
Market by by Region, Historical Data and Market Forecasts
Market Dynamic Analysis and Development Suggestions
What is the goal of the report?
The market report presents the estimated size of the Industrial automation market at the end of the forecast period. The report also examines historical and current market sizes. During the forecast period, the report analyzes the growth rate, market size, and market valuation. The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets. The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
Available Customization
The following customization options are available for this report:
> Trends for other verticals including retail' travel' and hospitality
> Country-specific trends and market analysis
> Rest of the World (RoW) Region-specific market analysis
> Additional company profiles
Apart from the existing market analysis' Reportocean can also offer a wide array of custom-tailored studies as per the company's specific needs.
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About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today's competitive environment. Report Ocean is a 'one-stop solution' for individuals, organizations, and industries that are looking for innovative market research reports.
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