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The mobile ticketing market in the transportation sector market size is projected to increase by USD 2,059.81 million, at a CAGR of 19.7% between 2023 and 2028. The growth rate of the market depends on several factors, including shift from smart cards to mobile ticketing, availability of multimodal ticketing platforms and digitization of transportation sector. Mobile ticketing in the transportation sector allows passengers to buy and display tickets using their smartphones. Mobile ticketing includes multiple technologies such as quick response (QR) codes, near-field communications (NFC), short message services (SMS), mobile wallets, and Bluetooth Smart that are used to present a mobile ticket at the time of authentication.
The market growth and forecasting report includes key player's detailed analyses of the competitive landscape of the market and information about 20 market companies, including Modaxo Inc., Cammax Ltd, Corethree Ltd., eos.uptrade GmbH, Giesecke Devrient GmbH, GoEuro Corp., Indra Sistemas SA, Infineon Technologies AG, Margento BV, Masabi Ltd., Mobisoft Infotech, moovel North America LLC, Nortap Technology Inc., Rapidsoft Systems Inc., Scheidt and Bachmann GmbH, Siemens AG, Thales Group, TickPick LLC, Token Transit Inc., Zendesk Inc., and Conduent Inc. Additionally, Modaxo Inc. provides comprehensive mobile ticketing solutions through its subsidiary AEP Ticketing, offering advanced ABT solutions including ET pass and ET mobile.
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Digitization of transportation sector is notably driving market growth. Digital transformation in the transportation sector has revolutionized customers traveling experience. Reservations are made through smartphones and mobile applications, which have eliminated the need for physical ticketing. Ticketing in the transportation sector, especially metro rail and bus ticketing, is increasingly being driven by mobile phones. High radio frequency, low price, and reduced time are some of the advantages of mobile ticketing payments for metro and bus ticketing.
However, metro ticketing is gaining traction through barcodes delivered via smartphone apps and SMS-based solutions, which are witnessing impressive user adoption in countries such as Sweden and Italy. The airline industry is also supporting the mobile ticketing market, with the increased adoption of mobile boarding passes since the global implementation of barcoded boarding passes, driving the market during the forecast period.
Increasing adoption of biometrics and wearable technology is an emerging trend shaping market development. In the airline industry, the use of biometrics and wearable technology is expected to increase during the forecast period, as these technologies are helping the airline industry to provide hassle-free airline services to customers. Airlines integrate passengers fingerprints for check-ins to replace travel documents. Airline passengers were satisfied with biometrics technology during their boarding process. Similarly, airlines install a self-service bag drop check-in facility powered by biometrics and an embedded camera.
Additionally, wearable technology can function through pre-installed apps or can be integrated with iOS, Android, and Windows operating systems. Wearable technologies have unique features of scanning and sensor technologies, which can be used during the airport check-in process. At present, wearable technology developers are in the process of adding features to wearable devices that can help airline passengers check in at airports with the help of smartwatches. This is expected to boost the market during the forecast period.
Lack of standardization and performance inconsistency is a significant challenge hindering market growth. The large-scale commercial use of mobile ticketing is hindered by the lack of standardization. In the mobile ticketing network, standardization is necessary for the technical and application layers. The technical layer involves communication protocols for carrier-level communication, terminal description and service discovery mechanisms, and application data switching mechanisms. The application layer includes terminals, communication protocols, and application specifications.
However, there are no specific standards for technical and application layer communication in a mobile ticketing framework, and this limits the adoption of mobile ticketing among end-users. Inconsistency in performance when it comes to solutions integrated with components such as NFC, barcodes, sensors, cloud, storage, and devices is also a major issue. These components are interconnected and assist each other in completing a task. A lag in the performance of any component affects the work of other components and leads to the poor performance of mobile ticketing services, resulting in slow growth of the market during the forecast period.
The market share growth by the mobile ticketing application segment will be significant during the forecast period.Mobile ticketing apps often provide real-time information on schedules, routes, delays, and other relevant updates. Passengers can receive alerts and notifications, allowing them to plan their journeys more effectively and respond to any changes.
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The mobile ticketing application was the largest and was valued at USD 476.25 million in 2018. With the rise of digital payments and the increasing emphasis on contactless transactions, mobile ticketing applications enable users to make secure payments without the need for physical contact. This feature has become especially important in the context of public health concerns, such as during the COVID-19 pandemic. By enabling users to purchase tickets in advance and bypass physical ticket queues, mobile ticketing applications help reduce wait times at transportation hubs. This efficiency is particularly beneficial during peak travel hours, and this is resulting in the growth of the market through the mobile ticketing application segment during the forecast period.
NFC is used in different applications, including payments, mass transport ticketing, physical access control, and vending. Contactless integrated circuit chip (IC) technology has been used in smart cards. The chips that are embedded in smart cards are embedded into smartphones and interact with a payment app that is either downloaded or pre-loaded onto the phone. NFC is a short-range wireless connectivity technology that provides simple, intuitive, and secure communication between electronic devices. Communication takes place when two NFC-compatible devices are brought in contact within four centimeters of each other. FeliCa is a contactless radio frequency identification IC chip smartcard system developed by Sony. The technology is used in a variety of cards in Hong Kong, Singapore, and Japan. Thus, the popularity of NFCs in smart cards is expected to fuel the growth of the segment in the market during the forecast period.
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Europe is estimated to contribute 31% to the growth of the global market during the forecast period. Technavio's analysts have provided an extensive insight into the market forecast, detailing the regional market trends and analysis and drivers influencing the market's trajectory throughout the forecast period. The region has witnessed a growth in the tourism industry in countries such as France, Germany, the UK, Spain, and Italy. The increase in tourism is anticipated to boost the European mobile ticketing market in transportation sector. Various live entertainment events are conducted in the region by numerous artists and stage performers. Europe is also hosting various bigger sports events such as the UEFA Champions League 2022, Wimbledon and French Open 2022, Euro Cup Football 2022, Commonwealth Games 2022, and multinational cricket tournaments.
In addition, the increase in sporting events is boosting the growth of the mobile ticketing market in the region as several people prefer to purchase tickets through mobile ticketing rather than over the counter for transportation convenience. Thus, all these factors are driving the growth of the regional market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Cammax Ltd - The company offers mobile ticketing solutions under the brand name Kisok that helps to reduce wait times and queues for customers and staff.
Market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
In the rapidly advancing landscape of the market, the emphasis on efficient transportation systems and enhanced multi-modal travel experiences is driving the adoption of innovative technologies like contactless ticketing solutions. Prioritizing user safety and elevating the overall Customer experience, leading mobile ticketing providers are integrating advanced features such as personalization with tailored recommendations, enticing loyalty programs, and exclusive targeted offers. Leveraging data-driven insights and analytics, the market is optimizing pricing strategies and operational efficiency, fostering collaboration among industry stakeholders and event organizers. The integration of cutting-edge contactless solutions ensures a seamless and secure payment process, while the rise of digital wallets and advanced payment platforms caters to the increasing smartphone penetration and user base, enhancing overall accessibility.
Additionlly, with real-time updates and personalized recommendations, the market is transforming the user experience and simplifying the ticketing process. The transition from traditional physical tickets and paper documentation to a digital era overcomes physical constraints and eliminates the need for time-consuming queuing and ticket collection. The market, driven by innovative event management platforms, promises a truly immersive and personalized multimodal travel experience with secure digital wallets, advanced payment systems, and robust payment security. Users benefit from rewards and exclusive perks, showcasing the market's commitment to providing unparalleled benefits in this dynamic era of digital market penetration.
Mobile Ticketing Market in the Transportation Sector Market Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 19.7% |
Market growth 2024-2028 |
USD 2,059.81 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
18.47 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 31% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Modaxo Inc., Cammax Ltd, Corethree Ltd., eos.uptrade GmbH, Giesecke Devrient GmbH, GoEuro Corp., Indra Sistemas SA, Infineon Technologies AG, Margento BV, Masabi Ltd., Mobisoft Infotech, moovel North America LLC, Nortap Technology Inc., Rapidsoft Systems Inc., Scheidt and Bachmann GmbH, Siemens AG, Thales Group, TickPick LLC, Token Transit Inc., Zendesk Inc., and Conduent Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
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