Global Smart Ticketing Market 2021-2027

Global Smart Ticketing Market Size, Share & Trends Analysis Report, By Component (Hardware and Software), By Application (Parking & Transportation and Sports & Entertainment) Forecast Period, 2021-2027 

The global smart ticketing market is projected to witness potential growth during the forecast period (2021-2027).  The key aspect that drives the growth of the market includes the adoption of smart ticketing solutions in the transportation industry. However, COVID-19 had impacted the smart ticketing market. The pandemic affected the supply chain and logistics operations of the companies globally.  In addition, the travel restriction due to the lockdown to curtail the spread of the virus severely affected the smart ticketing market. 

The market is segmented based on component and application. Based on component, the market is segmented into hardware and software. Among component, the software segment is expected to have a considerable share in the market during the forecast period. Based on application, the market is segmented into parking & transportation and sports & entertainment. Among the application segment, the parking and transportation segment is expected to hold a lucrative share in the market during the forecast period, owing to the rising smart city projects and focus on the development of transportation infrastructure. 

Geographically, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific region is projected to hold a significant market share. The regional growth of the market is accredited to the increasing rising disposable income in the economies such as China and India coupled with growing population and urbanization.  North America held a major market position in the global smart ticketing market in 2020. The well-developed infrastructure and growing investments in automotive and transportation are some of the key factors driving the growth of the regional market. Europe is the second-largest market in 2020 due to the early adoption of advanced technology in the region and well-developed infrastructure. 

Further, Thales Group, NXP Semiconductors N.V., and Infineon Technologies AG, among others are some of the prominent players in the global smart ticketing market. Initiatives along with competitive pricing may support an increase in market share over a projected time frame. The manufacturers are extensively investing in new technologies. Moreover, new launches & developments, partnerships, agreements, and acquisitions are some of the growth strategies adopted by the players to sustain in the highly competitive market. For instance, in February 2021, HID Global acquired TSL UK Ltd, a global provider of RFID handheld readers. The expansion of the RFID component business with TSL readers provides HID Global with a one-stop-place for offering RFID hardware and integration tools.

Research Methodology

The market study of the global smart ticketing market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to break down the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.

Secondary Sources Include

• Financial reports of companies involved in the market
• Whitepapers, research papers, and news blogs
• Company websites and their product catalog

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Global Smart Ticketing Market Research and Analysis by Component
2. Global Smart Ticketing Market Research and Analysis by Application

The Report Covers

• Comprehensive research methodology of the global smart ticketing market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global smart ticketing market.
• Insights about market determinants that are stimulating the global smart ticketing market.
• Detailed and extensive market segments with regional distribution of forecast revenues.
• Extensive profiles and recent developments of the market player.