Smart Ticketing Market Size By Component (Hardware, Software, Service), By Offering (Smart Cards, Smart Card Readers, Ticket Validators, Ticketing Mobile Terminals, Request Tracker, Ticketing Machine/Smart Ticketing Kiosk, E-Toll), By Connectivity (RFID, Barcode, Near Field Communication (NFC), Cellular Network, Wi-Fi), By End-Use (Parking, Sports & Entertainment, Transportation [Roadways, Railways, Airways]), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026

Smart Ticketing Market Size

Smart Ticketing Market size surpassed USD 7.5 billion in 2019 and is anticipated to grow at over 19% CAGR from 2020 to 2026. Growing penetration of digitalization across the transportation sector is fueling the industry growth.
 

Government and administrative authorities are establishing smart ticketing systems to liberalize the public transport sector and to increase cost-effectiveness. Smart ticketing facilitates easy accessibility to travellers/users for tracking several transit parameters and enables transport authorities to provide improved services to customers with the help of the latest technologies. An increase in the urban area population will, in turn, put tremendous pressure on the existing public transport systems, stressing the need for efficient transport solutions to streamline daily activities.
 

The ongoing coronavirus (COVID-19) pandemic will hinder the smart ticketing market statistics. The pandemic has impacted commerce in various countries, such as travel restrictions, closing of restaurants & bars, and the cancellation of important trade fairs & sporting events, all contributing to financial loss for global economies.
 

Countries that are reliant on the entertainment, tourism, travel, and hospitality industries have witnessed economic losses. The market will regain traction with normal resumption of public transport systems in the second half of 2020. Government organizations in several countries are supporting the adoption of smart ticketing and payment solutions to avoid the spread of virus through bank notes or coins.
 

Smart Ticketing Market Analysis

Smart ticketing software solutions market is projected to expand at around 20% gains through 2026. These solutions combine back-office processing and analytics systems with mobile applications, web portals, and smart cards to deliver comprehensive reports to local authorities and transport operators. Data analytics improves profitability and optimizes smart transport schemes through access to real-world travel statistics and provides easy management of transaction information to ensure precise travel reimbursements. A centralized software helps operators/authorities to connect with the data from multiple nodes, simplifying the transit data management process.
 

Smart ticketing cards segment in the U.S. is poised to witness steady growth till 2026 owing to the increasing usage of smart cards in the transportation industry to facilitate hassle-free travel. Smart cards help travellers/users store and use their tickets electronically, eliminating the need for paper tickets. These cards also allow users to tap their smart card on a device, gate, or validator for travel access and can also be used for parking and transit fare payments.
 

The U.S. transport agencies, Los Angeles County Metropolitan Transportation Authority and Port Authority of New York & New Jersey have integrated fare collection systems that accept contactless smart cards at entry and exit points. Enhanced access control offered by smart cards will encourage transport authorities to implement smart ticketing solutions.
 

NFC based smart ticketing permits transactions between two electronic devices when they are placed within 4 cm distance from each other. In South Korea, Korea Tour Card, Cashbee, and T-money are transportation cards used on public buses in several metropolitan cities and locations throughout the country. With the card, passengers can save the hassle of buying single journey tickets for every ride and avail discounts during transfers from one bus to another or from bus to subway.
 

The technology enables mobile devices to be used as tickets, which provides convenience to the traveler and saves operational costs for the operator by substantially reducing card lifecycle management expenses. A Central Clearing House System (CCHS) enables multi-modal transport, wherein it identifies the associated unique ID number, the fare media, and the identity of the person while allocating the fare for each individual transport mode water way, railway, metro and bus between destinations.
 

Parking applications accounted for more than 25% of the smart ticketing market share in 2019. Several businesses are integrating smart contactless card technologies at parking spaces to ensure optimum space for the rising urban population. NEC Corporation’s smart parking system enhances customers’ parking experience with technology such as real-time monitoring with data analysis, reports, filters, inspection tools, and smart alerts.
 

The Europe smart ticketing market is forecast to register nearly 18% gains through 2026. Several countries in the region have adopted contactless payment methods in their transportation sector to provide convenience, portability, and flexibility to customers by allowing them to carry one smart card that holds a range of tickets, other transport products, and third-party services.
 

In England, the government has allocated USD 176 million to the multi-modal PAYG program that is being progressed by Transport for the North. Transport for London accepts contactless card payments (OYSTER) for PAYG travel across the bus, Tube, Docklands Light Railway (DLR), tram, and London Overground network.
 

Smart Ticketing Market Share

Key players operating in the smart ticketing market include:

• CPI Card Group, Inc
• Cubic Corporation
• Gemalto NV (Thales Group)
• Giesecke & Devrient GmbH
• Infineon Technologies
• Rambus, Inc
• HID Global Corporation (ASSA Abloy AB)
• Idemia
• NXP Semiconductors N.V
• Softjourn
• Ticketer
• Xerox Corporation.

Industry participants are undertaking strategic initiatives, such as mergers and acquisitions, to expand and strengthen their presence. Companies will integrate their expertise on the CIPURSE open standard for smart card and mobile ticketing to offer end users with future proof transport ticketing solutions. They are focusing on launching innovative solutions for the transport sector will drive the market demand.
 

This market research report on smart ticketing includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2026 for the following segments:

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Market, By Component

• Hardware
• Software
• Services

Market, By Offering

• Smart cards
• Smart card reader
• Ticket validators
• Ticketing mobile terminals
• Request tracker
• Ticketing machine/Smart ticketing kiosk
• E-toll

Market, By Connectivity

• RFID
• Barcode
• Near Field Communication (NFC)
• Cellular network
• Wi-Fi

Market, By End use

• Parking
• Sports & entertainment
• Transportation
  • Roadways
  • Railways
  • Airways
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Benelux
  • Nordics
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Singapore
  • Australia & New Zealand (ANZ)
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • GCC
  • South Africa