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Strategic Collaborations Redefining The Smart Ticketing Landscape Industry Trends Gaining Momentum in the Global Smart Ticketing Market
Smart Ticketing Market Size
Smart Ticketing Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, the smart ticketing market has seen swift expansion. The market size is forecasted to grow from $17.19 billion in 2024 to $19.41 billion in 2025, with a compound annual growth rate (CAGR) of 12.9%. The significant growth observed in the past was owing to factors such as growth in population and urbanization, efforts towards improving travel experience, governmental push towards public transport, management of traffic and congestion, and heightened use of digital payments.
Smart Ticketing Market Size Forecast: What's the Projected Valuation by 2029?
In the foroming years, a swift expansion is predicted for the smart ticketing market size, with a projected worth of $34.97 billion in 2029 and a compound annual growth rate (CAGR) of 15.9%. The growth during the predicted period can be linked to the rising demand for contactless solutions, incorporation with mobility services, concentration on eco-friendly transportation, and data analytics for optimization. Notable trends anticipated during this forecast period encompass dynamic pricing models, merging with smart city initiatives, the use of biometric authentication for ticket access, emphasizing environmental sustainability in ticketing systems, and employing data analytics to glean user insights.
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What Are the Drivers Transforming the Smart Ticketing Market?
The recovery of the travel and tourism sector will play a crucial role in the expansion of the smart ticketing market. The tourism sector was among the hardest hit during the COVID-19 pandemic, significantly affecting all segments, including airlines and the hospitality industry. In efforts to counter COVID-19 effects, countries with economies heavily reliant on tourism are coming up with innovative solutions. Such measures include initiatives for boosting confidence like SG Clean and Qatar Clean, along with measures targeted at drawing in tourists like safe travel bubbles, pilot schemes, and providing incentives. By doing away with the need for cash transactions, smart ticketing helps shield passengers and drivers from potentially harmful infections. For example, the UN Tourism, a UN specialty body based in Spain that advocates for universally accessible tourism, reported in May 2023 that international arrival numbers hit 80% of what they were before the pandemic in Q1 2023. Around 235 million tourists traveled overseas in the first quarter, marking over a twofold increase compared to the same time frame in 2022. The resurgence of the travel and tourism industry will thus have a positive effect on the growth of the smart ticketing market.
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What Long-Term Trends Will Define the Future of the Smart Ticketing Market?
Leading firms in the smart ticketing market are leveraging strategic partnerships to solidify their standing in the market. Such collaborations improve smart ticketing by uniting payment providers, ticket developers, and transportation operators to offer more integrated solutions. For example, in June 2023, O-CITY, a top banking and payment institution based in Switzerland, and Indonesia-based Transportation service, Teknologi Karya Digital Nusa PT Tbk, partnered to introduce an Account-Based Ticketing Solution in Indonesia. This innovative ticketing system is set to revolutionize Indonesia's transportation infrastructure and allow PT TKDN to provide a broader spectrum of mobility-related services, including parking, toll-based road systems, mass public transport, and automated toll gates. Notably, PT TKDN aspires to make this state-of-the-art fare collection system accessible across the entire country, accelerating the nation's shift towards multi-provider essential city services.
Which Segments in the Smart Ticketing Market Offer the Most Profit Potential?
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 Firms Dominate the Smart Ticketing Market by Market Share and Revenue in 2025?
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
Which Regions Offer the Highest Growth Potential in 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.
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