Smart Ticketing Market Analysis

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.