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The smart ticketing market size is estimated to grow at a CAGR of 11.8% between 2023 and 2028. The market size is forecast to increase by USD 13,023.68 million. The growth of the market depends on several factors such as the rise in global travel and tourism, the partnerships between MaaS service providers and transportation companies, and the successful application of various technologies.
This smart ticketing market report extensively covers market segmentation by application (transportation and sports and events), component (hardware and software), and geography (Europe, North America, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018-2022.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the smart ticketing market growth is the successful application of various technologies. Factors such as dynamic technological innovations including mobile ticketing, radio frequency identification (RFID), and near-field communication (NFC) are significantly contributing to the market growth. In addition, NFC helps in connecting electronic devices that are used in smart ticketing systems.
Moreover, RFID is another significant technology that is used in smart ticketing systems for identification, payment, and security purposes. In addition, the use of RFID technology, along with embedded systems and RFID tags, leads to an improved and efficient automated train ticketing system. Furthermore, a majority of stations globally have RFID reader circuits that facilitate the calculation of ticket charges. Hence, such factors drive the market growth during the forecast period.
A key factor shaping the smart ticketing market growth is the use of blockchain technology in ticketing systems. Factors such as the increasing fraud and extortionate secondary market (resale) tickets are some of the significant challenges faced by the ticketing industry. Thus, there is a significant adoption of blockchain technology as it helps in recording each transaction and tracking ticket buyers. In addition, it enables event managers to maintain a track record and detailed history of payment transactions.
Moreover, the technology helps identify whether a ticket has been resold and the price of the same. Therefore, the blockchain has helped ticketing technology providers in fraud prevention. In addition, the blockchain has also resulted in the standardization of the ticketing protocol. Hence, such factors are positively impacting the market. Therefore, it is expected to drive market growth during the forecast period.
The high cost of setting up and implementing smart ticketing is one of the key challenges hindering the smart ticketing market growth. The implementation of smart ticketing comprises high costs in the installation of the required infrastructure. In addition, it is a huge drain on the financial resources of a country as the old system needs to be replaced with a new infrastructure.
Moreover, the cost of setting up and maintaining the access gates, contactless readers, AFC systems, and validation equipment is high. In addition, the implementation of technology needs funds from the public sector, which is often associated with budget overruns and delays. Hence, such factors are negatively impacting the market. Therefore, it is expected to hinder the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, 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 growth strategies.
Global Smart Ticketing 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.
ASSA ABLOY AB: The company offers smart ticketing solutions such as Smart paper tickets, incedo business, and CLIQ.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
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 transportation segment is estimated to witness significant growth during the forecast period. There is an increasing use of smart ticketing in various modes of transportation as it offers convenience, flexibility, and security. In addition, smart ticketing helps passengers easily buy tickets online. Passengers can manage purchases and renewals without waiting in long queues. Furthermore, low reliance on cash has provided convenience to passengers.
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The transportation segment was the largest segment and was valued at USD 6,759.98 million in 2018. Moreover, smart ticketing offers additional security to passengers. For instance, if a smart card is lost or stolen, it can easily be canceled, and the ticket or credit can be replaced. Hence, smart tickets are more durable than paper tickets. In addition, the growing implementation of modern technology is fuelling the adoption of smart ticketing in the railway sector. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
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Europe is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. There is significant growth in the market across several countries in Europe including France, Germany, the UK, Spain, and Italy. In addition, the rise in tourism fuelling the market in the region. Furthermore, several live entertainment events are conducted in the region by numerous artists and stage performers. In addition, Europe also hosts various sports events, such as the UEFA Champions League, the FIFA World Cup, and the Cricket World Cup. Furthermore, Europe is an early adopter of innovative products and services. For instance, The Government of the UK introduced Oyster cards in June 2003. Hence, such factors drive the market growth in Europe during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global smart ticketing market witnessed a significant slowdown due to the closure of the travel and tourism industry as well as the sports and events industry in Europe. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the restoration of operations in the tourism industry as well as the sports and events industry. Such factors are expected to drive the market during the forecast period.
The smart ticketing market 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.
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Smart Ticketing Market Scope |
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Report Coverage |
Details |
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Page number |
164 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 11.8% |
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Market Growth 2024-2028 |
USD 13,023.68 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
11.08 |
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Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 40% |
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Key countries |
US, China, Germany, UK, and France |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ASSA ABLOY AB, Atsuke SAS, Conduent Inc., Corethree Ltd., CPI Card Group Inc., Cubic Corp., Giesecke Devrient GmbH, Hitachi Ltd., IDEMIA France SAS, Infineon Technologies AG, iQ Payments Oy, NEC Corp., NXP Semiconductors NV, Scheidt and Bachmann GmbH, Siemens AG, Thales Group, Ticketer, VIX IP Pty Ltd., Cammax Ltd, and Flowbird SAS |
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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, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Component
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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