Smart ticketing is a system where tickets are electronically stored on a microchip, commonly contained in a plastic smartcard. Tickets are checked by presenting the smartcard to a smart reader, thereby allowing passengers to load tickets or credit in advance of travel, speeding up boarding times and reducing queuing. Smart tickets are primarily of two types, namely barcode tickets and smartcard tickets.
The smart ticketing market has been segmented on the basis of product type, component, system, application, and geography.
By product type, the market has been segmented into ticket machine, e-ticket, e-kiosk, and others.
On the basis of component, the market has been segmented into software and hardware.
By system, the smart ticketing market has been segmented into smart card, open payment system, and near-field communication.
On the basis of application, the market has been segmented into railways and metros, sports and entertainments, airlines and buses.
By geography, the smart ticketing market has been segmented into North America, Europe, Asia Pacific, and LAMEA.
North America is expected to dominate the smart ticketing market, owing to the use of smart ticketing in transportation applications for both transit fare payment and parking fee payment. This growth can also be attributed to the presence of a large number of technology companies with expertise in smart ticketing solutions and growing demand for solutions that can streamline ticketing procedures.
Vast tourism industry, high adoption of technology and significant demand for innovation smart ticketing systems collectively drive market growth in Europe. Payment solution vendors operating in the region are collaborating with smart ticket developers and operators to enhance their presence. Further, they are relying on big data analytics and connected devices to track passenger travel patterns and effectively provide customized products and services.
Among all regions, Asia-Pacific is expected to witness the highest growth in the smart ticketing industry, backed by a large population base, increasing number of smart city projects and rapid urbanization.
In the LAMEA region, Dubai has emerged as the first city where people can use mobile phones to access public transport. Many governments across the region have significantly invested in public transport networks, which is slated to drive market growth during the forecast period.
Some of the key player identified in the smart ticketing market include HID Global Corporation (U.S.), Gemalto NV (Netherlands), NXP Semiconductors (U.S.), CPI Card Group (U.S.) Cubic (U.S.), Xerox (U.S.), Giesecke & Devrient (Germany), Infineon Technologies AG (Germany), Inside Secure (France), and Oberthur Technologies (France) in the smart ticketing market.
Smart Ticketing Market