Growing Efforts to Promote Mobile Ticketing & Cashless Payment Technologies Drive the Market
New York, US, July 05, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Mobile Ticketing Market, By Type, By Technology, By Application - Forecast 2030”, to garner a valuation of USD 7.2 billion, growing at a 17.7% CAGR during the review period (2022-2030).
Mobile Ticketing Market Overview
The global mobile ticketing market is witnessing rapid growth. Vast developments of mobility-as-a-service (MaaS) apps that allow passengers using public transport to purchase tickets for bus and train services using a mobile ticketing app is a key driving force. Also, increasing investments in developing mobile ticketing and customer engagement technologies drive market growth. Increasing government initiatives to help operators embrace mobile ticketing technology & deliver turnkey ticketing solutions to their customers influence the market adoption.
USD 7.2 Billion by 2030
17.7% From 2020 To 2030
2020 To 2030
Value (USD Billion)
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
North America, Europe, Asia-Pacific
Masabi (UK) CGI Group (Canada) Scheidt & Bachmann (Germany) Softjourn (US) Xminnov (China) Smart Card IT Solutions (India) Zendesk (US) Coast to Coast Tickets (US) Alliance Tickets (US) Helpshift (US) Proxama (UK) Airbag (France) RazorGator (US) Ace Ticket WorldWide (US)
Key Market Opportunities
Key Market Drivers
Smartphones and smart handheld devices are the biggest factors that boosted the demand for Mobile Ticketing Market.
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Mobile ticketing offers a quick to deploy, low-cost solution for scalable ticketing capacity. Deploying mobile ticketing solutions and services using a multi-tenant platform requires extremely low capital expenditures. Its MaaS enablement allows selling tickets in one or multiple 3rd-party apps quickly and cost-effectively.
Mobile ticketing provides a multi-tenant fare payments platform for the pay-as-you-go model and a rich source of real-time data on journeys and ticket sales. Mobile ticketing solutions are becoming a reliable and trustworthy ticket booking medium for the general public with their high customer-centric functionality.
Mobile ticketing solutions are turning into an ideal mass public solution as it targets passenger satisfaction saving their time and money. Passengers using a mobile ticketing platform need not stand in queues, wait for a change, or worry about tickets getting sold out. This helps them save time & cost and provides greater convenience during special events and long journeys.
Mobile ticketing apps are rapidly emerging as crucial solutions to drive the future of smart travel space. Several cities have embraced mobile ticketing solutions to drive smart transportation and intelligent city initiatives. In addition to better management, safety, and efficiency of ticketing scenarios, governments’ initiatives to promote mobile ticketing technologies to streamline paperless, cashless, and contactless dealings influence the market dynamics.
The mobile ticket booking solutions provide more convenience for passengers to pay and travel. They offer smart solutions that work as a single point of contact (POC) for all the transit mediums, providing more capacities, revenues, and enhanced personalized journeys. The benefits of mobile ticketing software solutions go beyond being a ticketing platform.
It allows the passengers to access smarter technology with convenience, strengthening a positive outlook toward transportation. The penetration of smartphones and 5G communications facilitate new opportunities. Smart tickets, ticketing using biometric recognition systems, account-based ticketing, and NFC & HCE-based mobile ticketing are recent trends in mobile ticketing.
Biometric recognition systems include fingerprint recognition, face recognition, and IRIS recognition technologies. Account-based ticketing (ABT) eliminates the need to purchase a ticket in advance. At the same time, NFC & HCE technologies enable passengers to securely use their phones as smart travel cards and virtual ticket wallets.
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Mobile Ticketing Market Segments
The mobile ticketing market is segmented into types, technologies, applications, verticals, and regions. The type segment comprises SMS ticketing and mobile applications. The technology segment comprises bar-code, optical character recognition (OCR), and near-field communication (NFC).
The application segment comprises transportation (flights, roadways, railways), hospitality (booking hotels, motels, guest houses, etc.), sports (FIFA, cricket, badminton, tennis matches, etc.), entertainment, and others. The vertical segment comprises users and suppliers. The region segment comprises the Asia Pacific, Middle East & Africa, North America, Europe, and rest-of-the-world.
Mobile Ticketing Market Regional Analysis
North America dominates the global mobile ticketing market. Huge advances and easy access to futuristic technology, alongside the highest GDP in the world, impact the market scenario positively. Besides, key mobile ticketing solution developers & providers in the region boost the market size. The evolving cloud technology and increasing applications of intelligent transport solutions across the cities substantiate the region’s market shares. The US accounts for the largest mobile ticketing market in North America.
The mobile ticketing market in the Asia Pacific and Europe is growing at a fast pace. Especially in India, the smart-transportation market has been catching up a vast momentum, and smart ticketing solutions are launched in major cities across the country.
Also, governmental initiatives to improve highway and transport infrastructures, alongside the digital transformation and technological developments, define the growing market landscape. India, Japan, China, and South Korea are major smart-transportation markets in the region.
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The world became standstill on the outburst of the COVID-19 pandemic. A virus that originated from a flea market in Wuhan, China made the world go under lockdown impacting the industrial market growth. Due to the extensive outbreak and spread of the virus across the globe, the IT sector is anticipated to have a mixed impact. During the year 2021-2022 the mobile ticketing is expected to showcase a positive impact in various sectors like transportation, hotel bookings, etc. Mobile ticketing is more preferred as the contact-free services have been into practice as the paper-based ticketing was riskier at the time of the outbreak.
The mobile ticketing market witnesses’ significant strategic initiatives, such as collaboration, mergers & acquisitions, expansion, and advanced technology integration. Matured industry players make strategic investments in driving research and development activities and expansion plans. The market witnesses several innovative product launches and related technology launch each year.
For instance, on May 24, 2022, DICE, a London-based ticketing platform, announced the expansion of its services into Germany. Germany is a key market for growth, and the company has opened its office in Berlin with four senior individuals focusing on venues and promoter partnerships.
To support its growth in Germany, the company plans to partner with various artists, promoters, and venues across the country. These partnerships will position DICE as the primary ticketing partner for various events, spanning cities like Berlin, Cologne, Hamburg and Munich.
Leading players in the Mobile Ticketing Market Are
Cubic Corporation (US)
Infineon Technologies (Germany)
Vix Technology (Australia)
Giesecke Devrient (Germany)
Inside Secure (France)
HID Global (US)
City way (France)
Indra Sistemas (Spain)
Paragon ID (France)
CGI Group (Canada)
Scheidt & Bachmann (Germany)
Smart Card IT Solutions (India)
Coast to Coast Tickets (US)
Alliance Tickets (US)
Ace Ticket WorldWide (US)
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