Smart Ticketing Market - Global Size, Share, Growth by 2030

[Research Report] 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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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.

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.