Global Smart Ticketing Market is valued approximately at USD 10.1 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 14.99% over the forecast period 2019-2026. Smart ticketing is the advanced ticketing system, where a price ticket to travel is kept electronically on a chip instead of being written or issued on a paper. This new technology is enormously efficient, useful and cost-effective tool as compared to traditional ticketing system. In most sensible ticketing schemes, the microchip on a price ticket is embedded in a smartcard. For this reason, smart ticketing is often known as smartcard schemes. Affordable access to rapid transit with help of smart transit systems coupled with huge demand for smart ticketing from sports and entertainment, and tourism industries are some of the key driving factors of the market growth. In addition, adoption of blockchain coupled with increasing number of cashless transactions is expected to create significant growth opportunity in the smart ticketing industry. For instance, as per India Brand Equity Foundation, cashless transaction in India is estimates to reach about $1 trillion annually by 2025. However, high setup cost for smart ticketing system impedes the growth of the market over the forecast period of 2019-2026.
The regional analysis of global Smart Ticketing market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to the presence of leading smart ticketing solution vendors coupled with growing tourism industry. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as technical advancements and increasing usage of mobile devices would create lucrative growth prospects for the Smart Ticketing market across Asia-Pacific region.
Major market player included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Software & Services
Sports & Entertainment
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Smart Ticketing Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers