Meticulous Research® Projects Smart Ticketing Market to Reach $35.9 Billion by 2031”
“Meticulous Research® Projects Smart Ticketing Market to Reach $35.9 Billion by 2031”
Meticulous Research®, a leading global market research company, has published a comprehensive report titled “Smart Ticketing Market Size, Share, Forecast, & Trends Analysis by Offering (Platforms, Hardware, Services), Technology (RFID, Barcode & QR Code, NFC, Wi-Fi), Application (Parking, Transportation, Sports), Sector (Commercial, Public Sector), and Geography – Global Forecast to 2031.”
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According to this latest publication, the smart ticketing market is projected to reach $35.9 billion by 2031, growing at a CAGR of 13.4% from 2024 to 2031. The market’s expansion is primarily fueled by the increasing adoption of contactless payments and the rising demand for secure and convenient ticketing solutions. Despite facing challenges such as compatibility issues with legacy systems in the transportation and entertainment sectors, the market is poised for significant growth driven by increased investments in public transport infrastructure and the adoption of blockchain technology.
1.1.1 Market Segmentation1.1.1.1 By Offering
The smart ticketing market is segmented into platforms, hardware, and services. In 2024, the hardware segment is anticipated to dominate, accounting for over 53.0% of the market. This is attributed to the widespread implementation of smart ticketing systems designed to reduce waiting times and queues during peak hours, enhancing operational efficiency and security. The hardware segment is also expected to register the highest CAGR from 2024 to 2031.
1.1.1.2 By Technology
Technological advancements segment the market into RFID, barcode & QR code, near field communication (NFC), cellular network, Wi-Fi, and others. The barcode & QR code segment is expected to lead in 2024, driven by their widespread adoption for providing detailed consumer information and minimizing human error. However, the RFID segment is predicted to experience the highest CAGR during the forecast period, thanks to its rapid processing capabilities and enhanced security features.
1.1.1.3 By Application
Applications of smart ticketing are categorized into parking, transportation, sports, recreational activities, and others. The transportation segment is projected to hold the largest market share of over 48.0% in 2024, attributed to the digitalization of ticketing and fare collection processes. This segment is also forecasted to exhibit the highest CAGR, driven by the efficiency and security provided by smart ticketing systems.
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1.1.1.4 By Sector
The market is divided into commercial sector, education, hospitality, public sector, media & entertainment, and others. The public sector is expected to command the largest share of over 57.0% in 2024, supported by real-time information systems and government initiatives aimed at reducing waste and resource consumption. The hospitality sector is anticipated to grow at the highest CAGR due to the increasing implementation of contactless check-in and streamlined operations.
1.1.1.5 By Geography
Geographically, the Asia-Pacific region is expected to account for the largest share of over 35.0% in 2024. This dominance is due to the region’s rapid urbanization, economic growth, and government initiatives promoting smart ticketing. Additionally, Asia-Pacific is forecasted to register the highest CAGR of over 15.0% during the period from 2024 to 2031.
1.1.2 Key Market Players
Leading companies in the smart ticketing market include Cubic Transportation Systems, Inc. (U.S.), Atsukè SAS (France), Infineon Technologies AG (Germany), Cammax Limited (U.K.), IDEMIA France SAS (France), Rambus Inc. (U.S.), HID Global Corporation (U.S.), Thales (France), ACTIA Group (France), SECUTIX SA (Switzerland), Hitachi Rail STS S.p.A. (Italy), Siemens Mobility GmbH (Germany), Giesecke+Devrient GmbH (Germany), Xerox Holdings Corporation (U.S.), and Softjourn, Inc. (U.S.).
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