[3/11/2019]: The global smart ticketing market is expected to display higher growth rate over the
next seven years. Rapid surge in smart ticketing industry is credited to the
booming travel & tourism sector, and increasing adoption in public
transportation sector. Recent technological advancements in public
transportation sector, and deployment of smart ticketing schemes by local
governments to improve existing ticketing systems in roadways, railways, and
airways are further propelling the market growth of smart ticketing over the
past few years. Globally, smart ticketing market is predicted to generate
massive revenue over the next seven years, providing numerous opportunities for
industry participants to invest in research and development of smart ticketing
solutions.
Several advantages of implementing smart ticketing solutions include safety from fraud, offering users with credit or pre-loaded ride travels, availability of booking an advance travel, and elimination of long queue. These factors are fostering the market demand for smart ticketing solutions over the past few years. Furthermore, smart ticketing system allows the operators to deploy personalized or customized tickets that suits the requirement of the company. Smart ticketing system caters to a wide range of individuals and deliver tailor-made ticketing solutions. Smart ticketing system consists of the microchip on which a ticket is stored. These microchips are embedded in a smartcard.
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The
smart ticketing industry is broadly categorized into three major segments based
on the application type such as transportation industry, sports sector and
entertainment industry. Transportation industry segment is growing rapidly in
the smart ticketing market with substantial revenue generation in the last few
years. Growing popularity of smart ticketing systems in transportation industry
segment is attributed to the rising demand from public transportation services
including roadways, railways, and airways.
The
smart ticketing industry is divided by region as North America, Europe,
Asia-Pacific, Latin America and Africa. North America has shown major growth in
recent years owing to the rise in implementation of latest technologies in
transportation sector, surge in number of research & development activities
and existence of well-established industrial infrastructure in the region. In
European region, Germany, Spain, and United Kingdom are projected to witness
steady growth.
The key players in the smart ticketing
industry are Cubic Corp., Infineon Technologies AG, Conduent, Inc., Vix
Technology Co., Rambus, Inc., HID Global LLC, Gemalto Co., Giesecke+Devrient
GmbH, Confidex Ltd., Inside Secure S.A., Indra Sistemas S.A., Paragon ID Co.,
Scheidt & Bachmann Co., CGI Group, Inc., Masabi Ltd., Cityway Group, Smart
Card IT Solutions, Xiamen Innov Information Technology Co., Ltd., and
Softjourn, Inc.
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