Dublin, Dec. 05, 2018 (GLOBE NEWSWIRE) -- The "Smart Ticketing Market by Offering (Hardware, Software and Services), Application (Transportation (Roadways, Railways, Airways), Sports & Entertainment), Revenue Channel, Connectivity, and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The smart ticketing market is projected to reach USD 20.4 billion by 2023 from USD 10.1 billion by 2018, at a CAGR of 14.99%
Major drivers for market growth are the affordable access to rapid transit with the help of smart transit systems, huge demand for smart ticketing from travel and tourism industry, advanced technologies in the smart ticketing systems, and the upsurge in the intelligent transportation market. However, the high setup cost and centralized framework for smart ticketing systems are the factors expected to restrict the growth of the said market.
Smart ticketing market for software & services to register higher growth during forecast period
The smart ticketing market for software & services based on offering is expected to grow at a higher CAGR during the forecast period. Although hardware and software components together form a smart transit system, the software interface needs to be updated frequently to maintain compatibility with all the traditional and advanced technologies. Also, the software interface of a smart ticketing system is comparatively expensive, and it works with payment gateways and other connected systems such as smartphones and cards through servers. Therefore, a larger market share of the software component is attributed to frequent alternation in the software interface, along with its high expenses and growing adoption of a digital framework for public transportation.
Market for sports & entertainment application to grow at a higher CAGR during forecast period
The introduction of smart ticketing options in sports and entertainment applications makes transaction secure and convenient. Event providers are exploring their unique ideas to improve attendee's ticketing experience 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 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 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.
Market in APAC to register highest growth during forecast period
APAC is a potential market for smart ticketing owing to the presence of emerging economies such as China and India. In this region, there is an emphasis on the deployment of advanced and interoperable automated fare collection (AFC) systems such as smart cards and near-field communication (NFC)-enabled devices to increase both the efficiency of transport systems and ridership by giving commuters a smooth travel experience.
Key Topics Covered:
1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Study Scope
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Smart Ticketing Market
4.2 Smart Ticketing Market, By Offering and Revenue Channel
4.3 Smart Ticketing Market, By Application
4.4 Smart Ticketing Market, By Transportation Application
4.5 Smart Ticketing Market, By Region
5 Market Overview
5.1 Market Dynamics: Smart Ticketing Market
5.1.1 Drivers
5.1.1.1 Affordable Access to Rapid Transit With Help of Smart Transit Systems
5.1.1.2 Huge Demand for Smart Ticketing From Sports, Entertainment, and Tourism Industries
5.1.1.3 Use of Blockchain Will Boost Smart Ticketing Industry
5.1.1.4 Advanced Technologies in the Smart Ticketing Systems
5.1.1.5 Upsurge in Intelligent Transportation Market
5.1.2 Restraints
5.1.2.1 High Setup Costs for Smart Ticketing Systems
5.1.2.2 Centralized Framework of Smart Ticketing Systems
5.1.3 Opportunities
5.1.3.1 Increased Number of Cashless Transactions
5.1.4 Challenges
5.1.4.1 Data Safety and Security Issues
5.1.4.2 Designing an Open Architecture
6 Smart Ticketing Market, By Offering
6.1 Introduction
6.2 Hardware
6.2.1 Smart Cards
6.2.1.1 Chip-Based Rfid
6.2.1.1.1 Highly Sophisticated and Secured Features of Chip-Based Rfid Smart Cards are Propelling the Deployment Among Users Across the Globe
6.2.1.2 Chipless Rfid
6.2.1.2.1 Chipless Rfid Smart Cards are Largely Used in Transportation Applications
6.2.2 Wearables
6.2.2.1 Wearable Devices Have Witnessed Increased Adoption in Smart Ticketing Market Owing to the Factors Such as Ease of Use and Convenience
6.2.3 Ticketing Mobile Terminals/Ticketing Machines
6.2.3.1 Ticketing Mobile Terminals/ Ticketing Machines Can Manage Flow of Passengers and Maintain the Passengers' Data With Backup
6.2.4 Readers
6.2.4.1 Readers Help to Read the Data on Smart Cards and Identify Correct Person By Matching Details
6.2.5 Validators
6.2.5.1 Validators are Responsible to Carry Out Fare Collection Process in the Smart Ticketing System
6.3 Software & Services
6.3.1 Software & Services Market is Growing Owing to the Increasing Adoption of Digital Framework for Public Transportation
7 Smart Ticketing Market, By Connectivity
7.1 Introduction
7.2 Near-Field Communication
7.2.1 Nfc Helps to Connect Electronic Devices Used in Smart Ticketing System
7.3 Rfid
7.3.1 Rfid is Used in Smart Ticketing System for Identification, Payment, and Security
7.4 Barcode
7.4.1 Barcode Helps in Reading and Interpreting the Content of the Smart Ticket
7.5 Cellular Network
7.5.1 Cellular Network Helps in Making Ticketing Procedure Easy and Reduces Processing Cost
7.6 Wi-Fi
7.6.1 Wi-Fi Technology is Largely Used in Transportation Sector By Passengers to Book Tickets
8 Smart Ticketing Market, By Application
8.1 Introduction
8.2 Transportation
8.2.1 Railways
8.2.1.1 Growing Adoption of Modern Technology for Railways is Propelling the Implementation of Smart Ticketing
8.2.2 Roadways
8.2.2.1 Smart Ticketing Deployed in Buses Provides Real-Time Information to Passengers Regarding Arrival Time and Fare
8.2.3 Airways
8.2.3.1 Smart Ticketing for Airways Helps the Airport Authority to Handle Manual Operations at Peak Hours
8.3 Sports & Entertainment
8.3.1 Market for Sports & Entertainment is Expected to Grow at A Highest CAGR During the Forecast Period
9 Smart Ticketing Market, By Revenue Channel
9.1 Introduction
9.2 Users
9.2.1 Smart Ticketing Market for Users is Expected to Grow at A Higher CAGR During the Forecast Period
9.3 Suppliers
9.3.1 Smart Ticketing Market for Suppliers is Expected to Hold Larger Market Share During the Forecast Period
10 Geographic Analysis
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 The Smart Ticketing Market for US is Expected to Hold Larger Market Share During the Forecast Period
10.2.2 Canada
10.2.2.1 The Smart Ticketing Market for Canada is Expected to Grow at A Higher CAGR During the Forecast Period
10.3 Europe
10.3.1 UK
10.3.1.1 The Smart Ticketing Market in UK is Growing Owing to Increasing Adoption in Public Transportation Network
10.3.2 Germany
10.3.2.1 Increasing Technological Adoption and Development in the Transportation Sector Will Boost the Smart Ticketing Market in Germany
10.3.3 France
10.3.3.1 Deployment of Smart Ticketing is Increasing in Transportation Sector in France
10.3.4 Rest of Europe
10.3.4.1 Smart Ticketing Market for Countries in Rest of Europe is Expected to Grow at A Highest CAGR During the Forecast Period
10.4 APAC
10.4.1 Japan
10.4.1.1 Smart Ticketing Market is Growing in Japan Owing to Increasing Deployment in Railways & Metros
10.4.2 China
10.4.2.1 China is Expected to Hold Largest Share of Smart Ticketing Market in APAC During the Forecast Period
10.4.3 South Korea
10.4.3.1 Technological Advancements and Growing Industrialization Will Boost Smart Ticketing Market in South Korea
10.4.4 Rest of APAC
10.4.4.1 Smart Ticketing Market in Rest of APAC is Expected to Grow at A Highest CAGR During the Forecast Period
10.5 RoW
10.5.1 Middle East and Africa
10.5.1.1 Smart Ticketing Market in Middle East and Africa is Expected to Hold Larger Market Share During the Forecast Period
10.5.2 Latin America
10.5.2.1 Deployment of Smart Ticketing for Sports & Entertainment Sector is Increasing in Latin America
11 Competitive Landscape
11.1 Introduction
11.2 Ranking Analysis of Smart Ticketing Market, 2017
11.3 Competitive Scenario
11.3.1 Market Evaluation Framework: Contracts, Agreements, and Partnerships Fueled Growth and Innovation From 2015 to 2018
12 Company Profiles
12.1 Key Players
12.1.1 Cubic Corporation
12.1.2 Infineon Technologies
12.1.3 Conduent
12.1.4 Vix Technology
12.1.5 Rambus
12.1.6 Hid Global
12.1.7 Gemalto Nv
12.1.8 Giesecke+Devrient
12.1.9 Indra Sistemas
12.1.10 Confidex
12.2 Other Important Players
12.2.1 Inside Secure
12.2.2 Paragon ID
12.2.3 Scheidt & Bachmann
12.2.4 CGI Group
12.2.5 Masabi
12.3 Key Innovators
12.3.1 Cityway
12.3.2 Smart Card It Solutions
12.3.3 Xminnov
12.3.4 Ticketer
12.3.5 Softjourn
For more information about this report visit https://www.researchandmarkets.com/research/vr5grv/smart_ticketing?w=12
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