Pune, India, Feb. 15, 2022 (GLOBE NEWSWIRE) — The international Smart Ticketing Market measurement was valued at round USD 7.27 billion in 2020. The market is projected to rise from USD 8.29 billion in 2021 to USD 21.33 billion in 2028 at a 14.5% CAGR in the course of the forecast interval 2021-2028. Fortune Business Insights™ has talked about these insights in its newest analysis report, titled, “Smart Ticketing Market, 2021-2028.”
According to the examine, the expansion of digital ticketing will likely be pronounced with rising adoption from transportation, sports activities, and leisure sectors. The development for sensible tickets will encourage main firms to inject funds into the panorama.
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Companies Profiled within the Smart Ticketing Market:
- Conduent, Inc. (New Jersey, U.S.)
- Siemens (Munich, Germany)
- Cammax Ltd (West Yorkshire, U.Okay.)
- Infineon Technologies AG (Neubiberg, Germany)
- HID Global Corporation (Texas, t U.S.)
- Hitachi Rail Limited (London, U.Okay.)
- Masabi Ltd (New York, U.S.)
- NXP Semiconductors (Eindhoven, Netherlands)
- Giesecke+Devrient GmbH (Munich, Germany)
- Cubic Corporation (California, U.S.)
COVID-19 Impact
Cancelation of Sports Events to Dent Market Outlook
The onslaught of the COVID-19 pandemic and the emergence of variants, equivalent to Delta and Omicron, have dented the enterprise outlook. Notably, cancelation or postponement of sports activities and leisure occasions didn’t bode effectively for the main firms vying to develop their penetration throughout untapped areas. Moreover, a plunge in commuting, together with a dip within the utilization of transportation, has hampered the expansion prospect. Meanwhile, financial restoration and the launch of boosters might increase the worldwide sensible ticketing market share.
To get to know extra in regards to the short-term and long-term impression of COVID-19 on this market,
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REPORT SCOPE & SEGMENTATION:
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast Period 2021 to 2028 CAGR | 14.5% |
| 2028 Value Projection | 21.33 Billion |
| Base Year | 2020 |
| Market Size in 2020 | 7.27 Billion |
| Historical Data for | 2017-2019 |
| No. of Pages | 160 |
| Segments lined | Component, Technology, Offering, Application, and Geography |
| Growth Drivers | Rising Demand for Smart Ticketing from Sports, Entertainment, and Tourism Sectors to Augur Well |
| Growing Adoption of Advanced Technologies in Smart Ticketing Solution to Fuel the Market Growth | |
| Slowdown in Usage of Smart Ticketing for Parking and Transportation Application throughout Lockdown | |
| Pitfalls & Challenges | High Installation Cost of Smart Ticketing Systems Anticipated to Restrict Market Growth |
Segments
Component, Technology, Offering, Application, and Region Are Studied
Based on part, the market is segregated into software program and {hardware} segments.
In phrases of know-how, the market contains radio frequency identification (RFID), close to area communication (NFC), fast response code (QR Code), and others.
On the idea of providing, it’s segmented into ticket validators, e-toll, sensible playing cards, ticketing machine/sensible ticketing kiosk, and others.
With respect to utility, sports activities and leisure and parking and transportation are included within the report.
With respect to area, the market is fragmented into North America, Asia Pacific, Europe, the Middle East and Africa, and South America.
Report Coverage
The report is ready painstakingly with the usage of top-down and bottom-up approaches. The report additionally contains secondary and first assets to present a birds-eye-view of the market. The use of qualitative and quantitative assessments additional validates the report’s authenticity. In doing so, annual studies, press releases, SEC filings, and authorities web sites have been pivotal.
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Drivers and Restraints
Steady Demand from Transportation Sector to Underpin Market Growth
Amidst an unprecedented impression of the outbreak on the worldwide companies, the transportation sector has exhibited an indication of resilience. Prominently, stakeholders within the transport business have proven elevated inclination for sensible ticketing techniques. The adoption of cellular ticketing options will primarily be attributed to comfort, effectivity, and cost-effectiveness. The want for improved companies and easy buyer expertise will solidify the place of main firms gearing to bolster their portfolios.
Meanwhile, the requirement for an elevated preliminary funding could dent the worldwide sensible ticketing market development.
Regional Insights
North America to Remain at Helm with Rising Trend for Smart Cards
End-users count on that the U.S. and Canada to be the main recipients of sensible ticketing choices, together with sensible carts and kiosks. The adoption of superior applied sciences will encourage business members to rev up manufacturing. Besides, the presence of main firms, equivalent to HID Global Corporation, Conduent, Inc., and Masabi Ltd., may even bode effectively for the regional development. The market measurement in North America was valued at round USD 3.07 billion in 2020 and can witness the same development in the course of the forecast interval.
Industry gamers are anticipated to up their investments in Europe following the implementation of sturdy insurance policies. To illustrate, the EU has ramped up its efforts to bolster the adoption of safe and complex digital ticketing options. Besides, clever techniques will additional achieve impetus throughout sports activities and leisure sectors.
Asia Pacific can be poised to witness an funding galore with the rising adoption of IoT gadgets and smartphones. Moreover, burgeoning urbanization and the penetration of main firms throughout China, India and Singapore will bode effectively for the regional development.
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Competitive Landscape
Leading Companies to Inject Funds into Product Launches to Gain a Competitive Edge
The market’s aggressive situation means that outstanding firms might focus on natural and inorganic methods, equivalent to technological developments, mergers & acquisitions, product launches and R&D actions.
Notable Industry Development
May 2021 – Conduent, Inc. rolled out an account-based ticketing contactless fee system on Mobilita’s bus fleet. The system is offered on 220 buses in Brescia, Italy.
Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Key Takeaways
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Smart Ticketing Key Players Market Share Insights and Analysis, 2020
- Key Market Insights and Strategic Recommendations
- Companies Profiled (Covered for key 10 gamers solely)
- Overview
- Offerings/Business Segments
- Key Details (Subjected to knowledge availability in public area and/or on paid databases)
- Employee Size
- Key Financials
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- Annexure / Appendix
- Global Smart Ticketing Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Component (USD)
- By Technology (USD)
- Near Field Communication (NFC)
- Radio Frequency Identification (RFID)
- Quick Response Code (QR Code)
- Others (Cellular Networks, and many others.)
- By Offering (USD)
- Smart Cards
- Ticket Validators
- Ticketing Machine/Smart Ticketing Kiosk
- E-toll
- Others (Wearables, and many others.)
- Global Smart Ticketing Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
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https://www.benzinga.com/pressreleases/22/02/g25626404/global-smart-ticketing-market-to-touch-usd-21-33-billion-by-2028-conduent-inc-launched-an-account-
