Smart Ticketing Market Trends, Growth Drivers, Demand Forecast To 2032

The Smart Ticketing Global Market Report 2023 by The Business Research Company, provides smart ticketing market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032. 

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According to The Business Research Company’s Smart Ticketing Global Market Report 2023, the global smart ticketing market size will grow from $13.77 billion in 2022 to $16.05 billion in 2023 at a compound annual growth rate (CAGR) of 16.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the smart ticketing is expected to grow to $27.35 billion in 2027 at a CAGR of 14.3%.

The revival of the travel and tourism industry will significantly contribute to the growth of the smart ticketing market. Due to the COVID-19 pandemic, the tourism industry was the worst-affected industry, with all sectors, including airlines and hospitality, being severely impacted. To combat the effects of COVID-19, travel-dependent economies around the world are devising creative solutions, such as activities aimed at instilling confidence, such as the SG Clean and Qatar Clean initiatives, as well as activities aimed at attracting tourists, such as safe travel bubbles, pilot projects, and offering incentives. Smart ticketing eliminates the need for cash payment for travel and helps to safeguard passengers and drivers from dangerous infections.

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The smart ticketing market 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 Organisation Size: SMEs, Large Enterprises

5) By Application: Railways, Airways, Roadways, Sports And Entertainment

Technological advancements in smart ticketing systems are a key trend gaining popularity in the smart ticketing market. Major companies operating in the smart ticketing sector are focused on developing new technological solutions to strengthen their market position. For instance, in February 2021, Infineon Technologies AG, a Germany-based semiconductor manufacturer, launched 40 nm SLC36/SLC37, a new way of online ticketing. The 40nm platform products offer best-in-class contactless performance based on a powerful and energy-efficient 32-bit ARM SecurCore SC300 dual-interface security crypto controller in combination with the SOLID Flash memory concept. Customers can book fast tickets by using the 40nm technology. This reduces new product design work by allowing for easy Software migration from the 65nm SLC32 platform, which enables quick approval and short lead times owing to unique logistical approaches. Furthermore, the new 40nm technology platform serves as the foundation for SECORATM’s next-generation payment and ticketing solutions.

Top Major Players

Cubic Corporation,

Confidex Ltd.,

NXP Semiconductors,

CPI Card Group,

Infineon Technologies AG

The smart ticketing market report table of contents includes:

1. Executive Summary
2. Smart Ticketing Market Characteristics
3. Smart Ticketing Market Trends And Strategies
4. Smart Ticketing Market – Macro Economic Scenario
5. Smart Ticketing Market Size And Growth
6. Smart Ticketing Market Segmentation
7. Smart Ticketing Market Regional And Country Analysis

………..

28. Key Mergers And Acquisitions In The Smart Ticketing Market
29. Smart Ticketing Market Future Outlook and Potential Analysis
30. Appendix

List Of Tables :

Table 1: Global Historic Market Growth, 2017-2022, $ Billion

Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion

Table 3: Global Smart Ticketing Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Table 4: Global Smart Ticketing Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Table 5: Global Smart Ticketing Market, Segmentation By System, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

…………….

Table 48: Cubic Corporation Financial Performance

Table 49: Confidex Ltd. Financial Performance

Table 50: NXP Semiconductors Financial Performance

Table 51: CPI Card Group Financial Performance

Table 52: Infineon Technologies AG Financial Performance

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