Smart Ticketing Market Size Report and Share Analysis During 2023-2028

IMARC Group, a leading market research company, has recently releases report titled "Smart Ticketing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global smart ticketing market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How big is the Smart Ticketing Market?

The global smart ticketing market size reached US$ 17.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 34.2 Billion by 2028, exhibiting a growth rate (CAGR) of 11.2% during 2023-2028.

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What are Smart Ticketing?

Smart ticketing refers to a flexible, quick, convenient, and contactless system that electronically stores a ticket on a microchip embedded smartcard. The smartcard is then scanned by the transport operator at a static or handheld ticket machine or barrier to authorize the travel. It uses the government-backed ITSO specification to enable the passengers to seamlessly travel in buses, trams, and trains without using traditional payment systems. Compared to the traditional ticketing system, smart ticketing is fast, efficient and eliminates the need to buy paper tickets.

What are the growth prospects and trends in the Smart Ticketing industry?

The market is primarily driven by the growing inclination toward public transportation due to traffic congestion and rising environmental concerns. In addition, various initiatives undertaken by governments of numerous countries to promote smart technology and ticketing arrangements represent another major growth-inducing factor. Besides this, the market is further influenced by the increasing demand for mobile apps and the growing utilization of digital bank cards. Moreover, key players are integrating blockchain technology with smart ticketing to improve the passenger experience and offer greater flexibility while minimizing paper usage. They are also providing smart ticketing solutions based on fingerprint recognition algorithms and ultra-touch fingerprint sensors. This, coupled with the emergence of the open-loop concept that enables passengers to use their mobile devices or debit or credit cards with payment functionalities, is escalating the demand for smart ticketing. Furthermore, various technological advancements, such as the introduction of quick response (QR) code, near-field communication (NFC), barcode, local wireless ticketing, and open payment systems, and the adoption of smart ticketing solutions in the sports and entertainment industries are expected to propel market growth in the coming years.

What is included in market segmentation?

The report has segmented the market into the following categories:

Based On Product:

Ticket Machine
E-Ticket
E-Kiosk
Request Tracker
Others

Based On Component:

Software
Hardware

Based On System:

Open Payment System
Smart Card
Near-Field Communication

Based On Application:

Sports and Entertainment
Transportation
Others

Based On Region:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including: 

Confidex Ltd.
Cubic Corporation
Hid Global Corporation (Assa Abloy AB)
Hitachi Ltd.
Indra Sistemas S.A.
Infineon Technologies AG
NXP Semiconductors N.V.
Rambus Incorporated
Scheidt & Bachmann GmbH
Softjourn Inc.
Thales Group and Verimatrix.

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This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Key Highlights of the Report:

Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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