A value of nearly US$ 5,000 Mn is estimated to be generated by the Global Smart Ticketing Market by the end of 2022, according to an insightful study titled “Global Market Study on Smart Ticketing: WiFi to Remain the Largest Technology Segment Through 2025” added into the repository of Market Research Reports Search Engine (MRRSE) recently. According to the report, the global smart ticketing market is projected to grow at a CAGR of over 14% during the assessment period.
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The report offers detailed analysis and commentary regarding the key factors impacting the growth of the smart ticketing market globally. The move towards smart technologies is a broader development that is fuelling the adoption of smart ticketing globally. Transport authorities in developed countries are focusing on providing a quicker and seamless solution to passengers, and smart ticketing solutions have emerged as a credible option. The move towards smart ticketing can also serve the larger goals aimed towards eco-conservation as the high volume of paper used every day can be done away with.
For in-depth analysis, the global smart ticketing market has been segmented into component, connectivity technology, end-user application and region. The component segment is sub-segmented into card readers, POS terminals, smart cards, software platform and ticket machine. On the basis of connectivity technology segment, the global market is bifurcated into RFID, cellular networks, near field communication, Wi-Fi and barcode. By end-user application, the market is categorized into transportation, healthcare, sports & entertainment, parking and others. On the basis of geography, the key regions considered are North America, Latin America, Japan, Europe, Asia Pacific Excluding Japan and Middle East and Africa.
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According to the report, transportation continues to be the largest end-user segment for smart ticketing solutions globally. The demand for smart ticketing solutions from the transportation segment is likely to witness an increase during the assessment period. In addition to transportation industry, the adoption of smart ticketing solutions is also likely to witness an increase in parking and traffic management landscape.
North America and Europe are among the largest markets for smart ticketing solutions. The demand for smart ticketing solutions in North America is concentrated in the US, whereas in the Europe, EU5 countries are among the prominent markets.
Some of the major companies are Xerox Corporation, Gemalto NV, Confidex Ltd., CPI Card Group, Vix Technology¸ HID Global Corporation, Cubic Corporation, Rambus, NXP Semiconductors, Infineon Technologies AG, Scheidt & Bachmann and Giesecke & Devrient GmbH.
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