Smart Ticketing Market Size, Share with Focus on Emerging Technologies, Top Countries Data, Top Key Players Update, and Forecast 2026

August 28 21:25 2023
Smart Ticketing Market Size, Share with Focus on Emerging Technologies, Top Countries Data, Top Key Players Update, and Forecast 2026
ACT (England), Atsuke (France), Cammax (England), Conduent (US), Confidex (Finland), Corethree (England), Cubic (US), Flowbird Group (France), Giesecke+Devrient (Germany), HID Global (US), Hitachi Rail (Italy), IDEMIA (France), Indra (Spain), Infineon Technologies (Germany), INIT (Germany), LIT Transit (Slovenia), Masabi (England), and Xerox (US).
Smart Ticketing Market by Component (Hardware, Software, and Services), Application (Parking and Transportation (Roadways, Railways, and Airways), and Sports and Entertainment), Organization Size, and Region – Global Forecast to 2026

The global Smart Ticketing Market size is projected to grow from USD 7.2 billion in 2020 to USD 16.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 14.5% during the forecast period. The smart ticketing market is gaining traction due to affordable access to rapid transit with the help of smart transit systems, huge demand for smart ticketing from sports, entertainment, and tourism industries, advanced technologies in the smart ticketing systems, rising adoption of contactless payments, upsurge in the intelligent transportation market, and growing adoption of wearable technologies.

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Hardware segment to account for largest market share during the forecast period

Hardware segment accounts for the largest market share during the forecast period. Major hardware components of the smart ticketing system include ticketing mobile terminals/ticket machines, readers, and validators. Many transit projects are implemented to expand and improve public transportation services. Smart card programs for transportation ticketing are deployed in many countries. As transit operators are deploying new contactless ticketing systems, there is an increasing demand for contactless payment readers and validators. The popularity of using wearable devices to pay fares for sports and other entertainment events is also rising.

Sports and Entertainment segment is expected to grow at the highest CAGR during the forecast period

Sports and Entertainment is expected to exhibit a higher CAGR during the forecast period. Event providers are exploring their unique ideas to improve the ticketing experience of attendees by using software such as SAP solution that engages fans and customers in real time. The giant player—Amazon (US)—is setting its footstep in the ticketing business by announcing its global expansion of ticketing services in Europe, APAC, and the US. The trend of adopting mobile ticketing in arenas such as American Football stadiums facilitate mobile access provisions to fans while entering into the arena and accepts NFC-enabled smartphones as a contactless smart card. Further, smart ticketing options can also reduce fraudulent activities and reselling of tickets outside the stadium at extortionate prices by verified e-tickets purchased from authentic team app on exclusive mobile devices.

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Unique Features in Smart Ticketing Market:

The transit and event ticketing industries were being transformed by the distinctive qualities that the smart ticketing market had introduced. A single ticket allowed for seamless transitions between various forms of transportation, promoting intermodal travel, and providing convenience and minimising physical encounters. Contactless payment methods were also noteworthy.

The ability for customers to purchase and save tickets on cellphones made mobile ticketing capabilities stand out. Smart cards with several applications combined ticketing with features like access control and payments, and real-time information accessibility enhanced the travelling experience.

Versatile payment options were made possible by integration with payment providers and digital wallets. Reduced paper use and the use of security tools like encryption and authentication highlight smart ticketing’s emphasis on sustainability.

Data analytics enabled service improvements and provided personalised experiences and loyalty programmes. The market acknowledged that smart ticketing was inclusive and could accommodate a variety of user needs, including those of people with disabilities.

Major Highlights of the Smart Ticketing Market:

The operation of transit and event ticketing systems were redefined as a result of the enormous changes that the smart ticketing industry endured. The smooth multimodal travel experience, in which travellers easily moved between different forms of transport with a single ticket, was another notable feature. Contactless payment methods were also available for ease and less physical encounters.

With the ability to buy and present tickets using cellphones, mobile ticketing emerged as a game-changer. Multi-application smart cards with payment, access control, and ticketing capabilities were popular due to their flexibility. Additionally, current route information added to the value of real-time travel information for users.

Smart ticketing eased transactions and improved environmental sustainability by integrating with different payment platforms and digital wallets. Users were encouraged to interact through personalised experiences and loyalty programmes, while strong security measures protected user data and payment information.

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Top Key Companies in Smart Ticketing Market:

The major vendors covered in the smart ticketing market include ACT (England), Atsuke (France), Cammax (England), Conduent (US), Confidex (Finland), Corethree (England), Cubic (US), Flowbird Group (France), Giesecke+Devrient (Germany), HID Global (US), Hitachi Rail (Italy), IDEMIA (France), Indra (Spain), Infineon Technologies (Germany), INIT (Germany), LIT Transit (Slovenia), Masabi (England), NXP Semiconductors (Netherland), PayiQ (Finland), Scheidt & Bachmann (Germany), SecuTix (Switzerland), Siemens (Germany), Thales (France), Ticketer (England), and Xerox (US). These players have adopted growth strategies, such as partnerships, contracts, acquisitions, and new product launches to expand their presence in the smart ticketing market. Partnerships and new product launches have been the most adopted strategies by major players from 2019 to 2021, which helped them innovate their offerings and broaden their customer base.

Thales (France) is one of the leading vendors of the smart ticketing market. Thales has adopted an inorganic growth strategy to enhance its position in the smart ticketing market. In February 2019, the company acquired Gemalto, an international digital identification and data protection company, enabling them to incorporate the expertise of Gemalto to develop secure solutions for data and network security, and financial transaction security. The company offers a multi-modal and multi-operator transport ticketing solution called TRANSCITY, support services, maintenance services, consultancy services, and cybersecurity services for high system availability and to minimize service disruptions in daily operations.

Indra (Spain) is another top player in the smart ticketing market. The company offers a suite of smart ticketing and multi-model back-office solutions, called Mova Collect, which has schemes, such as account-based ticketing, pay-as-you-go, and be-in-be-out. The company’s business model emphasizes on innovating new applications using technologies to meet challenges. Its clients include airports, ports, railways, and transit agencies around the world.

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