Smart Ticketing Market To Witness Vigorous Expansion Owing To Rising Demand in Travel and Tourism For Its Greater Convenience Till 2026 | Million Insights

October 06 08:18 2021
Smart Ticketing Market To Witness Vigorous Expansion Owing To Rising Demand in Travel and Tourism For Its Greater Convenience Till 2026 | Million Insights
Million Insights – World’s Fastest Growing Market Research Database
According to new report available with Million Insights, the global smart ticketing industry is anticipated to witness enhanced growth driven by growing adoption of online transaction system and intelligent transportation system by 2026. Also, the rising cashless payment transactions are also supporting the demand for smart ticketing solutions.

The global smart ticketing market size is anticipated to account for USD 33.7 billion by the end of 2026 and is estimated to grow at compound annual growth rate of 14.9% during the forecast period 2019 to 2026, according to the new report by Million Insights. In travel & tourism, rising demand for e-ticketing tools due to its greater convenience is projected to spur market growth. In addition, the growing adoption of online transaction system and intelligent transportation system are expected to boost market growth.

In subway and metros, smart ticketing solutions help in rapid transit access at affordable costs. The ticket is stored on the microchip embedded along with smart card. Smart card system enables passengers to buy tickets from loaded or saved credit or money, this saves time & makes the process faster. Thus, several public authorities are installing these solutions to control traffic & deliver efficient transportation services. In addition, these solutions provide high reliability and longer life when compared with paper-based solutions.

To download the sample PDF of Smart Ticketing Market Report “please” click here: https://www.millioninsights.com/industry-reports/smart-ticketing-market/request-sample

U.S. smart ticketing market

To enhance the consumer experience, companies in the industry focus on continuous innovation for developing new solutions to meet consumer needs. For example, in U.K., South & Western rail has introduced a Tap2 Go service that eliminates buying of tickets. In this process, passengers only need to touch card at entry/exit gates. The system automatically calculates fare amount & payment get deducted from consumers account.

Smart ticketing solutions provide improved security for fraud which is projected to support market growth. This system utilizes magnetic stripes technology that needs lower maintenance costs. In addition, it offers fast payment options and flexible travel passes especially in part-time seasons.

Key manufacturers in the smart ticketing market areCubic Corporation; CPI Card Group,ConfidexLtd, Giesecke&Devrient GmbH, Gemalto NV, NXP Semiconductors and Infineon Technologies AG.

To browse report summary & detailed TOC, please click the link below:
https://www.millioninsights.com/industry-reports/smart-ticketing-market

Europe smart ticketing market

Further key findings from the report suggest:

• Depending on component, software segment is anticipated to grow at asignificant rate of CAGR, due to rising demand for connected devices.

• E-ticketing solution provides greater convenience, high flexibilityand security in transportation services.

• Smart card solutions help in reducing cash flow and also offer high convenience to consumers at gateways. For instance, at gates, boarding bus points. Thus, these systems are projected to increase the adoption of smart tickets solutions.

• Sports & entertainment type segmentis projected to expand at fastest CAGR from 2019 to 2026.

• Europe is projected to grow at the fastest rate due to growing adoption of smart ticketing systems at various rail stations & other gateways.

Million Insights has segmented the global smart ticketing market based on component, product, system, end use and region:

Smart Ticketing Component Outlook (Revenue, USD Billion, 2015 – 2026)

    • Hardware

    • Software

    • Service

Smart Ticketing Product Outlook (Revenue, USD Billion, 2015 – 2026)

    • E-kiosk

    • E-ticket

    • E-toll

    • Request Tracker

    • Smart Parking System

    • Ticket Machine

    • Ticket Validators

    • Others

Smart Ticketing System Outlook (Revenue, USD Billion, 2015 – 2026)

    • Open Payment System

    • Smart Card

    • Near-field Communication

Smart Ticketing End Use Outlook (Revenue, USD Billion, 2015 – 2026)

    • Parking

    • Sports & Entertainment

    • Transportation

    • Others

Smart Ticketing Regional Outlook (Revenue, USD Billion, 2015 – 2026)

    • North America

        • U.S.

        • Canada

    • Europe

        • Germany

        • U.K.

    • Asia Pacific

        • China

        • India

        • Japan

    • Latin America

        • Brazil

    • Middle East & Africa

Browse the Latest Industry Research Report Available with Million Insights:

Intelligent Virtual Assistant Market – The global intelligent virtual assistant market was prized by USD 5.82 billion in 2020. It is estimated to witness a 28.5% CAGR from 2021 to 2028.

Legal Cannabis Market – The global legal cannabis market was prized by USD 12.8 billion in 2020. It is estimated to witness 26.3% CAGR from 2021 to 2028.

About Million Insights

Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive. 

Media Contact
Company Name: Million Insights
Contact Person: Ryan Manuel
Email: Send Email
Phone: 91-20-65300184
Address:Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar
City: Pune
State: Maharashtra
Country: India
Website: https://www.millioninsights.com/industry-reports/smart-ticketing-market