Press release
Smart Ticketing's Crucial Role In The Revival Of Travel And Tourism Post-COVID-19 Driver: A Major Catalyst in the Evolution of the Smart Ticketing Market in 2025
Smart Ticketing Market Share
The resurgence of the travel and tourism sector is set to significantly propel the smart ticketing market's growth. With the hit of COVID-19, the tourism industry witnessed serious repercussions which majorly affected all its branches including the hospitality and airline industry. To combat the pandemic's impact, globally, travel-dependent economies are resorting to innovative measures such as SG Clean and Qatar Clean initiatives that aspire to instill confidence as well as practices meant to attract tourists like safe travel bubbles, pilot projects, and offers. Smart ticketing offers the advantage of eliminating the need for cash payments for travel, thus protecting both passengers and drivers from potential infections. As per UN Tourism's May 2023 data, a United Nations' Spain-based special agency for universally accessible tourism, the first quarter of 2023 witnessed a spike in international arrivals, reaching 80% of pre-pandemic levels. Approximately 235 million tourists were reported to have traveled internationally during this period. That's more than twice the number from the same period in 2022. This indicates that the upswing in the travel and tourism sector is set to boost the smart ticketing market positively.
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What is the projected compound annual growth rate (CAGR) of the smart ticketing market from 2025 to 2034, and what factors influence it?
In recent times, there has been a swift expansion in the size of the smart ticketing market. The market is projected to rise from $17.19 billion in 2024 to $19.41 billion in 2025, achieving a compound annual growth rate (CAGR) of 12.9%. Factors such as population growth and urbanization, emphasis on simplified travel experiences, government focus on public transport, management of traffic and congestion, along with an uptick in the use of digital payments can be credited for the growth within the historical period.
Expectations are high for a swift expansion in the smart ticketing market size in the forthcoming years, with predictions placing its value at $34.97 billion by 2029. This growth, which is forecasted to occur at a compound annual growth rate (CAGR) of 15.9%, can be associated with several factors. These include the increasing demand for contactless solutions, the integration of ticketing with mobility services, the focus on eco-friendly transportation and the use of data analytics for optimization purposes. Data analytics for user insights, environmental sustainability in ticketing, biometric verification for ticket access, integration with smart city initiatives, and dynamic pricing models are some of the major trends anticipated for the forecasted period.
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How are the latest trends influencing the growth of the smart ticketing market?
Leading corporations in the intelligent ticketing market are focusing on strategic partnerships to bolster their market stance. These collaborations are improving smart ticketing by uniting payment providers, ticket makers, and transport operators for much broader solutions. In June 2023, O-CITY, a Swiss banking and payment corporation, partnered with Indonesia's Teknologi Karya Digital Nusa PT Tbk, a transport service, to launch an Account-Based Ticketing Solution in Indonesia. This innovative ticketing system will transform Indonesia's transportation infrastructure and allow PT TKDN to offer a broader range of mobility-related services, including parking, toll systems, mass transit, and automated toll booths. Importantly, PT TKDN is planning to make this state-of-the-art fare collection system available nationwide, accelerating the country's evolution towards multi-provider essential city services.
What are the major segments of the smart ticketing market and their role in driving growth?
The smart ticketing market covered in this report is segmented -
1) By Product: Ticket Machine, E-Ticket, E-Kiosk, Request Tracker
2) By Component: Hardware, Software
3) By System: Open Payment System, Smart Card, Near-Field Communication
4) By Organization Size: SMEs, Large Enterprises
5) By Application: Railways, Airways, Roadways, Sports And Entertainment
Subsegments:
1) By Ticket Machine: Standalone Ticket Vending Machines, Multi-Functional Ticket Machines
2) By E-Ticket: Mobile E-Tickets, Web-Based E-Tickets
3) By E-Kiosk: Self-Service Kiosks, Interactive Kiosks
4) By Request Tracker: Online Request Tracking Systems, Mobile Request Tracking Apps
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Which regions are key players in the growth of the smart ticketing market?
Europe was the largest region in the smart ticketing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart ticketing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the smart ticketing market?
Major companies operating in the smart ticketing market include Hitachi Ltd., Siemens Mobility GmbH, NEC Corporation, Thales Group S.A., Infineon Technologies AG, NXP Semiconductors N.V., Assa Abloy AB, Xerox Holdings Corporation, Indra Sistemas S.A., Conduent Incorporated, Gemalto N.V., Cubic Corporation, Giesecke+Devrient Group, HID Global Corporation, CPI Card Group Inc., Rambus Incorporated, Flowbird Group Ltd., INIT Innovations in Transportation Inc., Paragon Group Limited, Scheidt & Bachmann GmbH, Vix Technology Ltd., AEP Ticketing Solutions Srl, Masabi Ltd., Softjourn Inc., Corethree Ltd., Confidex Ltd., Parkeon Ltd., Ticketer Limited, Cammax Limited
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What Is Covered In The Smart Ticketing Global Market Report?
•Market Size Forecast: Examine the smart ticketing market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the smart ticketing market for a structured understanding.
•Key Players Overview: Analyze major players in the smart ticketing market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the smart ticketing market.
•Segment Contributions: Evaluate how different segments drive overall growth in the smart ticketing market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the smart ticketing market.
•Industry Challenges: Identify potential risks and obstacles affecting the smart ticketing market.
•Competitive Landscape: Review strategic developments in the smart ticketing market, including expansions, agreements, and new product launches.
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