Global Smart Ticketing Market is Expected to Grow USD 11 Billion by 2023, at 8% of CAGR Between 2017-2023
Research Reports
Jan 07, 2021
The global smart ticketing market is expected to exhibit a strong 8% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global smart ticketing market is expected to grow to a valuation of USD 11 billion by 2023, according to the report. The report presents a detailed overview of the global smart ticketing market, detailing the major drivers and restraints affecting the global smart ticketing market. Major factors and trends likely to cause major shifts in the global smart ticketing market are profiled in detail in the report. The key players operating in the global smart ticketing market are also profiled in detail in the report. The report also examines the impact of the COVID-19 pandemic on the global smart ticketing market. The global smart ticketing market is expected to reach a valuation of USD 11 billion by 2023.
Smart ticketing is a key service for use in public transportation. Smart ticketing enables consumers to acquire tickets conveniently and securely, allowing smooth movement in public transportation systems. The growing popularity of public transportation systems is likely to be a major driver for the global smart ticketing market over the forecast period. Due to the growing awareness about vehicular emissions, many consumers are preferring public transportation, which cause less damage to the environment, as the per-passenger emissions are reduced due to the high volume of passengers using public transportation systems.
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Segmentation:
The global smart ticketing market is segmented on the basis of component, product, system, application, and region.
By component, the global smart ticketing market is segmented into software and hardware. The hardware segment is further sub-segmented into POS terminal equipment, cards and microchips, and card readers.
By product, the global smart ticketing market is segmented into ticket machines, e-ticket, e-kiosk, smart parking system, e-toll, request tracker, and others. The e-kiosk segment is expected to exhibit the highest CAGR over the forecast period, as it reduces the need for manual operations, which makes it suitable for peak time operations.
By system, the global smart ticketing market is segmented into smart card, open payment system, and near field communication (NFC) system.
By application, the global smart ticketing market is segmented into railways and metros, sports and entertainment, airlines, buses, and others.
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