15 July 2019 –
The Global Smart Ticketing Market is expected
to display higher growth rate over the next seven years. Rapid surge in smart
ticketing industry is credited to the booming travel & tourism sector, and
increasing adoption in public transportation sector. Recent technological
advancements in public transportation sector, and deployment of smart ticketing
schemes by local governments to improve existing ticketing systems in roadways,
railways, and airways are further propelling the market growth of smart
ticketing over the past few years. Globally, smart ticketing market is
predicted to generate massive revenue over the next seven years, providing
numerous opportunities for industry participants to invest in research and
development of smart ticketing solutions.
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Market Segment:
On the basis of
product, this report displays the production, revenue, price, market share and
growth rate of each type, primarily split into
• Smart Card
• Open Payment System
• Near-Field Communication System
On the basis on the
end users/applications, this report focuses on the status and outlook for major
applications/end users, consumption (sales), market share and growth rate of
Smart Ticketing for each application, including
• Railways and Metros
• Sports and Entertainments
• Airlines
• Buses
• Others
Several advantages of implementing smart ticketing solutions
include safety from fraud, offering users with credit or pre-loaded ride
travels, availability of booking an advance travel, and elimination of long
queue. These factors are fostering the market demand for smart ticketing
solutions over the past few years. Furthermore, smart ticketing system allows
the operators to deploy personalized or customized tickets that suits the
requirement of the company. Smart ticketing system caters to a wide range of
individuals and deliver tailor-made ticketing solutions. Smart ticketing system
consists of the microchip on which a ticket is stored. These microchips are
embedded in a smartcard.
However, higher initial cost to set up smart ticketing
system with a centralized operating unit is the key challenge for sustained
market growth to a certain extent. Yet, incorporation of demonetization
policies and encouraging cashless transactions by regional governments is
projected to favor market growth. Smart ticketing systems are also referred as
smartcard schemes, consist of multiple software as well as hardware components.
The key players in the smart ticketing industry are Cubic
Corp., Infineon Technologies AG, Conduent, Inc., Vix Technology Co., Rambus,
Inc., HID Global LLC, Gemalto Co., Giesecke+Devrient GmbH, Confidex Ltd.,
Inside Secure S.A., Indra Sistemas S.A., Paragon ID Co., Scheidt & Bachmann
Co., CGI Group, Inc., Masabi Ltd., Cityway Group, Smart Card IT Solutions,
Xiamen Innov Information Technology Co., Ltd., and Softjourn, Inc.
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