Smart Ticketing Market Size Worth $24.95 Billion By 2030 | CAGR: 14.4%

The global smart ticketing market size is expected to reach USD 24.95 billion by 2030, according to a new study by Polaris Market Research. The report “Smart Ticketing Market Share, Size, Trends, Industry Analysis Report, By Component (Hardware, Software); By Technology (NFC, RFID, QR Code, Others); By Offering; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Smart ticket market is developing as a result of increased demand, increased usage of contactless payments, the expansion of the intelligent transportation industry, and rising interest in wearable technologies. The demand for smart tickets is rising in the transportation industry, especially in sports, financial services, and healthcare.

Smart ticketing is a ticketing technique, where ticket is saved electronically over a microchip as opposed to being printed out. Customers are now able to board public transportation vehicles including buses, trolleys, and trains without having to use traditional payment methods like cash.

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A prominent trend gaining prominence in the smart ticketing market is technological developments in smart ticketing systems. In order to improve their competitiveness in the market, major organizations involved in smart ticketing are concentrating on creating innovative technological solutions.

For example, in February 2021, the German semiconductor manufacturer Infineon Technologies AG unveiled 40 nm SLC36/SLC37, a new generation of online ticketing. Based on an effective 32-bit ARM SecurCore SC300TM security crypto controller and SOLID Flash memory technology.

The market for smart tickets will expand dramatically when the transport and tourism sectors recover. The tourism industry suffered the most damage as a result of the COVID-19 epidemic, with airlines and the lodging industry suffering the most. SG Clean and Qatar Clean programmers, as well as initiatives targeted at enticing tourists including safe travel bubbles, and providing incentives, are just a couple of the innovative solutions being developed by travel-dependent economies throughout the world to address the consequences of COVID-19.

Smart Ticketing Market Report Highlights

• The software segment is expected to increase at a significant CAGR over the forecast period. The demand for various ticketing systems, such as contactless methods via smartphones and the most recent technologies, smart wearables, grows as smart card growth for smart ticketing systems combines with development prospects from many applications.
• The fastest growth is seen in the near-field communication market sector. Near field communication is one of the cutting-edge technologies that can be used to improve the operation of the ticketing system.
• Smart cards segment dominated the market in 2021. Passengers in both big cities and small villages are increasingly utilizing smart cards since they provide them the option of paying with a contact or contactless card.
• In 2021, Europe accounted for the largest revenue share. The digitization of public transport and the adoption of sustainable transportation legislation are given significant attention by European governments.
• Global players include Infineon Technologies AG, CPI Card Group, Cubic Corporation, Confidex, Gemalto NV, Giesecke & Devrient GmbH, NXP Semiconductors, Siemens, and Cammax.

Polaris Market Research has segmented the smart ticketing market report based on, component, technology, offering, and region:

Smart Ticketing, Component Outlook (Revenue - USD Billion, 2018 - 2030)

• Hardware
• Software

Smart Ticketing, Technology Outlook (Revenue - USD Billion, 2018 - 2030)

• Near Field Communication (NFC)
• Radio Frequency Identification (RFID)
• Quick Response Code (QR Code)
• Others (Cellular Networks)

Smart Ticketing, Offering Outlook (Revenue - USD Billion, 2018 - 2030)

• Smart Cards
• Ticket Validators
• Ticketing Machine/Smart
• Ticketing Kiosk
• E-toll
• Others (wearables)

Smart Ticketing, Regional Outlook (Revenue - USD Billion, 2018 - 2030)

• North America
  • U.S
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa