The smart ticketing market is estimated to grow from US$ 6.85 billion in 2022 to US$ 16.51 billion by 2030; it is projected to grow at a CAGR of 11.6% from 2022 to 2030.
Analyst Perspective:
The smart ticketing market has witnessed significant growth in recent years. Factors such as rapid digitization across industries have led to a growing dependence on contactless payment. Moreover, the increasing adoption of smart devices for booking tickets across the globe is expected to contribute to the growing smart ticketing market size. Additionally, the integration of advanced technologies such as artificial intelligence, virtual reality maps, smartphones, and wearables in the ticketing system is expected to bring new smart ticketing market trends in the coming years.
Smart Ticketing Market Analysis:
Smart tickets have gained significant traction as a modern replacement for traditional paper-based ticketing, driven by the increasing emphasis on digitizing ticketing processes. This innovative technology saves passengers' time by eliminating the need to queue for ticket purchases. It has also evolved to encompass smartcards and mobile apps, offering a superior alternative to paper tickets. Furthermore, smart ticketing is widely utilized across various modes of transportation and has seen growing applications in sports and entertainment events. A notable example is Rio de Janeiro, which hosted the Olympic Games and expected half a million international visitors. The city's public transport ticketing system featured Gemalto's contactless technology, including the waterproof "Celego Contactless Wristband" and "Celego Contactless Sticker," both embedded with Gemalto's contactless chip and certified by Visa and MasterCard. These solutions, activated with a simple wave of the wristband near the contactless readers, represented a significant infrastructure enhancement introduced at a global level.
Regional governments are taking initiatives in the adoption of smart ticketing systems. For instance, in November 2019, as reported by the Rail Delivery Group (RDG), a prominent membership organization in the British rail industry, the use of smart tickets for train journeys has surged immensely, reaching 65 million. This marks an increase of 8.4 million journeys compared to the same period in 2018. Furthermore, RDG data indicates that smart tickets were selected for 50% of all trips, representing a substantial upturn from the 37% usage rate observed in 2019.
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Smart Ticketing Market: Strategic Insights
Market Size Value in US$ 6.85 billion in 2022 Market Size Value by US$ 16.51 billion by 2030 Growth rate CAGR of 11.6% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Smart Ticketing Market: Strategic Insights
| Market Size Value in | US$ 6.85 billion in 2022 |
| Market Size Value by | US$ 16.51 billion by 2030 |
| Growth rate | CAGR of 11.6% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Market Driver:
Rising Adoption of Smart Wearables to Drive Smart Ticketing Market Growth
In recent years, the smart ticketing market growth is fueled by the rising adoption of smart wearables. Smart wearables, including smartwatches, fitness trackers, and other connected devices, have become integral parts of consumers' daily lives, presenting a unique opportunity for businesses in the smart ticketing sector. The integration of smart wearables with smart ticketing systems has streamlined the process of purchasing, storing, and validating tickets for various modes of transportation, events, and attractions. This seamless integration offers unparalleled convenience to consumers, eliminating the need for physical tickets or cumbersome payment methods.
The data capabilities of smart wearables enable businesses in the smart ticketing market to gather valuable insights into consumer behavior and preferences. This data can be leveraged to personalize offers, optimize pricing strategies, and enhance the overall customer experience. The appeal of smart wearables lies in their versatility and ease of use, making them an attractive platform for businesses seeking to innovate within the smart ticketing market. Whether it's enabling contactless payments, providing real-time travel information, or enhancing security measures, smart wearables offer a myriad of possibilities for businesses.
As the adoption of smart wearables continues to rise, businesses operating in the smart ticketing market adapt and capitalize on this trend. By leveraging the capabilities of smart wearables, businesses can drive operational efficiency and enhance customer satisfaction, ultimately positioning themselves for sustained growth in the dynamic smart ticketing landscape. Thus, such applications in the smart ticketing industry are anticipated to propel the smart ticketing market forecast.
Segmentation and Scope:
The "global smart ticketing market" is segmented on the basis of component, payment system, end user, and geography. Based on the component, the market is segmented into hardware, software, and services. On the basis of payment system, the market is segmented into open payment system, smart card, and NFC. By end user, the market is segmented into transportation, sport and entertainment, parking, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
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Segmental Analysis:
Based on end user, the smart ticketing market is segmented into transportation, sport and entertainment, parking, and others. The transportation segment dominated the smart ticketing market share in 2022. Smart ticketing systems offer secure, flexible, and efficient automated fare collection and resource management capabilities. The advantages of an integrated travel and ticketing infrastructure are driving increased adoption by various transportation mediums such as rail and road among others. For example, in February 2023, the Australian Capital Territory (ACT) Government collaborated with NEC Corporation to develop an advanced ticketing solution, highlighting the growing integration of these systems within the industry.
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Regional Analysis:
The North America smart ticketing market is segmented into the US, Canada, and Mexico. The US dominated the North America smart ticketing market share in 2022 for various reasons. Firstly, the advancement of smart card technology for smart ticketing systems, combined with the promising opportunities presented by various applications, is driving demand for alternative ticketing methods, such as contactless solutions facilitated by smartphones and cutting-edge wearable devices. Prominent smart wearable manufacturers such as Samsung have introduced payment capabilities in their smartwatches. Additionally, a majority of device manufacturers are integrating payment services, including Samsung Pay, Fitbit Pay, Apple Pay, Garmin Pay, and Google Pay, into their mobile wallet offerings. While smartwatch-enabled payments are still in the developmental phase, they hold significant market potential. These developments are projected to empower consumers to purchase tickets using their wearable devices, reflecting a notable shift in the ticketing landscape. Additionally, initiatives taken by the key smart ticketing market players operating in the region, such as Cubic Corporation, have also contributed to the positively favored market.
For instance, in February 2022, Cubic Corporation announced a significant achievement in the implementation of its new ticketing system by its Cubic Transportation Systems (CTS) business division in Queensland. This milestone allows Translink customers to utilize credit and debit cards, as well as mobile devices, for payment when traveling on the Ferny Grove line of the passenger rail system. This development represents a major step forward in modernizing and expanding the contactless ticketing system across the state, with plans for full deployment across the entire passenger rail system, followed by buses and ferries.
Key Player Analysis:
The smart ticketing market report emphasizes the key factors driving the market and prominent players' developments. Infineon Technologies AG, NXP Semiconductors, Xerox Corporation, Cubic Corporation, IDEMIA, HID Global Corporation (ASSA ABLOY), CPI Card Group Inc., Confidex Ltd., Thales Group, and Giesecke & Devrient GmbH are among the vital players profiled in the smart ticketing market report.
Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by smart ticketing market players. A few recent key smart ticketing market developments are listed below:
- In May 2023, Infineon's CALYPSO move facilitated the development of interoperable ticketing solutions that adhere to open standards, empowering manufacturers to tailor solutions to the unique needs of transport operators and authorities. This approach eliminates the reliance on magnetic stripes, barcodes, and proprietary tickets, ensuring greater flexibility and compatibility across diverse systems.
- In February 2022, NXP Semiconductors unveiled the latest addition to its MIFARE Ultralight family, heralded as the most secure variant. The MIFARE Ultralight AES leverages standard AES authentication and holds Common Criteria EAL3+ security certification, delivering enhanced privacy and security for limited-use contactless tickets, RFID basic guest cards, and similar applications.
- In February 2022, Cubic Corporation announced a significant achievement in the implementation of its new ticketing system by its Cubic Transportation Systems (CTS) business division in Queensland. This milestone allows Translink customers to utilize credit and debit cards, as well as mobile devices, for payment when traveling on the Ferny Grove line of the passenger rail system. This development represents a major step forward in modernizing and expanding the contactless ticketing system across the state, with plans for full deployment across the entire passenger rail system, followed by buses and ferries. The successful trial of Smart Ticketing on the Ferny Grove rail line in Brisbane is a testament to the state's commitment to installing the world's most modern and largest contactless ticketing system, covering an area larger than Great Britain and more than twice the size of Texas. This initiative reflects the ongoing efforts to enhance convenience and flexibility for customers while ensuring the safety, security, and privacy compliance of the payment methods used for travel.
- In December 2022, HID Global Corporation, a globally recognized leader in trusted identity solutions, completed the acquisition of Janam Technologies, a prominent provider of rugged mobile computers and contactless access solutions. This strategic move significantly enhances HID's presence and relevance as a provider of smart credential issuance and reader solutions, further solidifying its position in the market. The acquisition enhances HID's event access portfolio to include handheld readers and mobile pedestals scanning tickets using barcode and RFID technology, including NFC. This move is expected to improve the event experience for millions of spectators around the world.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Payment System, End User, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The hardware segment led the microprocessors market with a significant share in 2022.
Asia Pacific is anticipated to grow at the fastest CAGR over the forecast period.
The key players holding majority shares in the smart ticketing market include Infineon Technologies AG, NXP Semiconductors, Xerox Corporation, Cubic Corporation, and IDEMIA.
The usage of blockchain in smart ticketing industry are expected to drive the growth of the smart ticketing market in the coming years.
Increasing demand for smart ticketing from sport, entertainment, and tourism sectors are driving the smart ticketing market.
The smart ticketing market was estimated to be valued at US$ 6.85 billion in 2022 and is projected to reach US$ 16.51 billion by 2030; it is anticipated to grow at a CAGR of 11.6% over the forecast period.
The smart ticketing market is expected to reach US$ 16.51 billion by 2030.
The List of Companies - Smart Ticketing Market
- Infineon Technologies AG
- NXP Semiconductors
- Xerox Corporation
- Cubic Corporation
- IDEMIA
- HID Global Corporation (ASSA ABLOY)
- CPI Card Group Inc.
- Confidex Ltd
- Thales Group
- Giesecke and Devrient GmbH
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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