Smart Ticketing market is presently worth USD 17.79 billion and is poised to amplify at a CAGR of 12.4% over 2022-2030, thereby amassing a valuation of USD 45.33 billion by end of the assessment timeline.
Smart ticketing systems are widely used by public transit networks, sports and entertainment venues to entice customers because of its speed, security, and user-friendliness. Users can efficiently and cheaply plan their trips on public transportation with the help of the Smart Ticketing system. Customers can also pre-load credit amounts for upcoming tickets. The user can also retrieve the loaded amount and transfer it to another smart card if the smart ticket is lost or stolen. These features make it a secure and convenient way to buy tickets. The current focus on the entertainment, sports, and transportation sectors will probably keep this market growing quickly over the course of the projected period.
Passengers use this smartcard to travel via buses, trains, trams, and metros without standing in a queue for purchasing a paper ticket. This system is a paper-free solution and hence makes it easier for the passengers to maintain it. The smart ticketing solution also helps in managing the long queue of passengers in peak hours.
Contactless fare payments have grown commonplace since the outbreak. Smarter payments are becoming more widely used, making travel safe and easy for everyone. Contactless payments in transportation applications are playing a very important role in helping to secure the public and ensure that the vehicle operator is protected from collecting fares while avoiding close contact with riders as the world battles the rapid spread of the COVID-19 epidemic.
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Segmental Analysis of Global Smart Ticketing Market:
Based on Component
- Hardware
- Software
- Service
Based on Product
- E-kiosk
- E-ticket
- E-troll
- Request Tracker
- Smart Parking System
- Ticket Machine
- Ticket validators
- Others
Based on System
- Open Payment System
- Smart Card
- Near- Field Communication
Based on End-user
- Parking
- Sports and Entertainment
- Transportation
- Others
Competitive Landscape:
- CPI Card Group Inc.
- Cubic Corporation
- Confidex Ltd.
- Gemalto NV
- Giesecke Devrient GmbH
- Infineon Technologies AG
- NXP Semiconductors
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Major questions answered in the report:
- What are the major growth factors, challenges, and trends in the global smart ticketing market?
- Which regional segment accounts for the largest revenue in the global smart ticketing market
- Which top players are contributing in the growth of global smart ticketing market?
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