Smart Ticketing Global Market Report 2024

The smart ticketing market size has grown rapidly in recent years. It will grow from $15.4 billion in 2023 to $17.57 billion in 2024 at a compound annual growth rate (CAGR) of 14.1%. The expansion in the historical period can be credited to urbanization and population growth, a focus on seamless travel experience, government initiatives for public transport, congestion and traffic management, and the increase in adoption of digital payments.

The smart ticketing market size is expected to see rapid growth in the next few years. It will grow to $29.98 billion in 2028 at a compound annual growth rate (CAGR) of 14.3%. The expansion in the projected timeframe can be attributed to the demand for contactless solutions, integration with mobility services, a focus on sustainable transportation, and the utilization of data analytics for optimization. Key trends anticipated in the forecast period encompass dynamic pricing models, integration with smart cities initiatives, the adoption of biometric authentication for ticket access, a commitment to environmental sustainability in ticketing, and the use of data analytics for gaining user insights.

The revival of the travel and tourism industry is set to significantly contribute to the growth of the smart ticketing market. The tourism industry, severely impacted by the COVID-19 pandemic, is witnessing recovery with various initiatives aimed at instilling confidence and attracting tourists. Smart ticketing eliminates the need for cash payments, enhancing passenger and driver safety. According to the World Tourism Organization (UNWTO), global tourism grew by 4% in 2021, with the total number of global travelers increasing from 400 million in 2020 to 420 million in 2021. The growth of the travel and tourism industry positively impacts the smart ticketing market.

The growth of the smart ticketing market is significantly contributed to by the increasing adoption of contactless payment. Contactless payment, involving wireless financial transactions, is facilitated by smart ticketing, providing secure and convenient payment methods in transportation and other sectors. In 2021, UK Finance reported 13.1 billion contactless payments, reaching £165.9 billion ($224.415 billion), a 36% increase from 2020. The rising adoption of contactless payment positively impacts the growth of the smart ticketing market.

Technological advancements in smart ticketing systems are gaining popularity in the smart ticketing market. Infineon Technologies AG, a Germany-based semiconductor manufacturer, introduced a new way of online ticketing in February 2021. The 40nm SLC36/SLC37 platform offers best-in-class contactless performance, allowing customers to book fast tickets with reduced design work and quick approval times. This technological solution strengthens companies' positions in the smart ticketing sector.

Major companies in the smart ticketing market are focusing on strategic collaborations to strengthen their market position. In June 2023, O-CITY, a Switzerland-based banking and payment firm, partnered with Teknologi Karya Digital Nusa PT Tbk, an Indonesia-based transportation service, to roll out an Account-Based Ticketing Solution in Indonesia. This cutting-edge ticketing system aims to transform Indonesia's transportation infrastructure and offer a wider range of mobility services throughout the nation.

In July 2022, Paragon ID, a France-based smart card company offering services in smart cards, tickets, labels, and tags, acquired UrbanThings for an undisclosed amount. Through this acquisition, Paragon ID aims to strengthen its product portfolio in mobility platform solutions. UrbanThings, based in the UK, specializes in public transport technology solutions, including smart ticketing, passenger apps, and real-time information.

Major companies operating in the smart ticketing market report are Hitachi Ltd., Siemens Mobility GmbH, NEC Corporation, Thales Group S.A., Infineon Technologies AG, NXP Semiconductors N.V., Assa Abloy AB, Xerox Holdings Corporation, Indra Sistemas S.A., Conduent Incorporated, Gemalto N.V., Cubic Corporation, Giesecke+Devrient Group, HID Global Corporation, CPI Card Group Inc., Rambus Incorporated, Flowbird Group Ltd., INIT Innovations in Transportation Inc., Paragon Group Limited, Scheidt & Bachmann GmbH, Vix Technology Ltd., Verimatrix Inc., AEP Ticketing Solutions Srl, Masabi Ltd., Softjourn Inc., Corethree Ltd., Confidex Ltd., Atsuke Co. Ltd., Parkeon Ltd., Ticketer Limited, Cammax Limited.

Europe was the largest region in the smart ticketing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart ticketing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the smart ticketing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of products in smart ticketing encompass ticket machines, e-tickets, e-kiosks, and request trackers. E-kiosks, touch-screen devices, allow passengers to check in and pay for their tickets using credit or debit cards for free. Components include hardware and software employed in applications such as open payment systems, smart cards, and near-field communication. Systems are utilized by both SMEs (small and medium enterprises) and large enterprises in railways, airways, roadways, sports, and entertainment applications.

The smart ticketing market research report is one of a series of new reports that provides smart ticketing market statistics, including smart ticketing industry global market size, regional shares, competitors with a smart ticketing market share, detailed smart ticketing market segments, market trends and opportunities, and any further data you may need to thrive in the smart ticketing industry. This smart ticketing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The smart ticketing market includes revenues earned by entities by providing systems that are used to collect travel information and store tickets electronically. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.