According to MarketsandMarkets™, the global Smart Ticketing Market size is projected to grow from USD 7.2 billion in 2020 to USD 16.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 14.5% during the forecast period.
The Smart Ticketing Market is gaining traction due to affordable access to rapid transit with the help of smart transit systems, huge demand for smart ticketing from sports, entertainment, and tourism industries, advanced technologies in the smart ticketing systems, rising adoption of contactless payments, upsurge in the intelligent transportation market, and growing adoption of wearable technologies.
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Major vendors in the Smart Ticketing Market include ACT (England), Atsuke (France), Cammax (England), Conduent (US), Confidex (Finland), Corethree (England), Cubic (US), Flowbird Group (France), Giesecke+Devrient (Germany), HID Global (US), Hitachi Rail (Italy), IDEMIA (France), Indra (Spain), Infineon Technologies (Germany), INIT (Germany), LIT Transit (Slovenia), Masabi (England), NXP Semiconductors (Netherland), PayiQ (Finland), Scheidt & Bachmann (Germany), SecuTix (Switzerland), Siemens (Germany), Thales (France), Ticketer (England), and Xerox (US).
Hardware segment to account for largest market share during the forecast period
Hardware segment accounts for the largest market share during the forecast period. Major hardware components of the smart ticketing system include ticketing mobile terminals/ticket machines, readers, and validators. Many transit projects are implemented to expand and improve public transportation services. Smart card programs for transportation ticketing are deployed in many countries. As transit operators are deploying new contactless ticketing systems, there is an increasing demand for contactless payment readers and validators. The popularity of using wearable devices to pay fares for sports and other entertainment events is also rising.
Sports and Entertainment segment is expected to grow at the highest CAGR during the forecast period
Sports and Entertainment is expected to exhibit a higher CAGR during the forecast period. Event providers are exploring their unique ideas to improve the ticketing experience of attendees by using software such as SAP solution that engages fans and customers in real time. The giant player—Amazon (US)—is setting its footstep in the ticketing business by announcing its global expansion of ticketing services in Europe, APAC, and the US. The trend of adopting mobile ticketing in arenas such as American Football stadiums facilitate mobile access provisions to fans while entering into the arena and accepts NFC-enabled smartphones as a contactless smart card. Further, smart ticketing options can also reduce fraudulent activities and reselling of tickets outside the stadium at extortionate prices by verified e-tickets purchased from authentic team app on exclusive mobile devices.
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Europe region holds the largest market share in the Smart Ticketing Market in 2020
Europe is expected to hold the largest market share during the forecast period. Western European countries such as the UK, Germany, and France which have well-established transportation infrastructure, and several transportation operators in the region use smart ticketing solutions across bus and rail services. European countries have been investing majorly in the modernization and upgradation of rail infrastructure as the dynamics of the rail industry in Europe is changing rapidly with new passenger management systems. Europe has been hosting many international sporting events, such as 2019 Cricket World Cup (England and Wales) and 2019 FIFA Womens World Cup (France). To comply with the standard ticketing requirements for hosting these events, countries and respective sports associations deploy various advanced smart ticketing technologies.
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The Smart Ticketing market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global Smart Ticketing Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/smart-ticketing-market/download-sampleMarket DynamicsThe rising applications of smart ticketing in the tourism and travel industry, as they are user-friendly and can be accessed by all age group, is fueling the market growth of smart ticketing market.
On the other side, high investments on smart ticketing system restrain market growth.
Whereas, the adoption of demonetization policies and cashless transactions for smart ticketing system are expected to stimulate the market growth over the forecast period .This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis.
These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities.
The Smart Ticketing Market report facilitates businesses to successfully make decisions about business strategies to achieve maximum return on investment (ROI).
Smart Ticketing Market Report by Data Bridge Market Research presents the conceptual study and strategic analysis on Smart Ticketing Industry which provides market scope, applications, a topographical presence that drives the Smart Ticketing market.
Download Sample PDF Copy of the Smart Ticketing Market Report to understand the structure of the complete report@ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-smart-ticketing-market This Smart Ticketing Market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market.
A large-scale Smart Ticketing Market report delivers a comprehensive analysis of the market structure along with estimations of the various segments and sub-segments of the market.
This study also analyzes the market status, future trends, revenue generation, market share, growth rate, opportunities and challenges, sales volume, market drivers, market restraints, risks, and entry barriers.
Some of the geographies included in this study:North America (Canada, The United States, and rest of North America)Europe (France, Germany, and Rest of Europe)Asia-Pacific (India, Japan, China, and the rest of Asia-Pacific)LAMEA (Brazil, Turkey, and the rest of LAMEA) Major players covered in the Smart Ticketing Market reportGemalto, Cubic Corporation, Infineon Technologies AG, NXP Semiconductors., Indra Sistemas, HID Global Corporation/ASSA ABLOY AB., Softjourn Inc., Giesecke & Devrient GmbH, Paragon Group Limited, CPI Card Group Inc., Confidex Ltd., IAC, Xminnov, Oberthur Technologies, Masabi Ltd, Rambus.com., Xerox Corporation., Vix Technology., Confidex, Scheidt & Bachmann GmbH, and Inside Secure The Smart Ticketing Market Research Report aims to present insights that demonstrate the market scope, potential, structure, development, and historical perspective.
