Smart Ticketing Market Dynamics, Share, Specifications, Analysis and Forecasts 2022

1. Smart Ticketing Market Dynamics, Share, Specifications, Analysis and Forecasts 2022 “The smart ticketing market is expected to be worth USD 10.22 Billion by 2022, growing at a CAGR of 7.93% between 2016 and 2022.” The Smart Ticketing Market is expected be worth USD 10.22 Billion by 2022, growing at a CAGR of 7.93% between 2016 and 2022. The major drivers for the market include affordable access to smart transit system, emerging application travel and tourism industry, flourishing adoption of smart technology, and user-friendly platform. The report covers the smart ticketing market segmented on the basis of product, component, system, application, and geography. The study identifies and analyzes the market dynamics such as drivers, restraints, opportunities, and industry-specific challenges for the market. It also profiles the key players operating in the market. The software component held a larger share of the smart ticketing market in 2015. The software interface of a smart ticketing system is comparatively expensive, and it works with payment gateways and other connected systems such as smartphones and card readers through servers. Therefore, the larger market share held by software component is attributed to necessity of the frequent upgradation in software interface along with their high expenses and growing adoption of digital framework for public transportation. In terms of application, the railways and metros segment held the largest share in 2015 while airlines is expected to grow at the highest rate during the forecast period. The deployment of smart ticketing technology in the airlines with efficient features such as self-boarding and self-luggage handling helps the airport authority to handle the critical operations at peak hours. Therefore, the convenience associated with the smart ticketing solution is expected to influence the airlines industry during the forecast period. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=28668442

2. Ticket machine expected to lead the overall smart ticketing market The market for ticket machine is expected to hold the largest share of the overall market by 2022. It is a combination of a smart gating, ticket vending, and fare collection systems. It is capable of managing the flow of passengers at peak hours and maintains the generated data with a backup. It can be considered as an initiative toward smart transit systems, and it is one of the oldest forms of smart ticketing system. Hence the market for ticket machines is likely to occupy the largest market share by 2022. The market for near-field communication systems to grow at the highest rate during the forecast period The market for near-field communication systems is expected to grow at the highest rate between 2016 and 2022. NFC technology can easily be integrated with smartphones and can be used as a ticket while availing public transportation services. Therefore, it is believed that the convenience provided by the integration of NFC and smartphone would influence the commuters and accelerate the replacement of traditional printed ticketing with NFC. Also, the increasing use of smartphones across the globe would encourage the growth of the market for NFC systems. Request Sample Copy of this Market Research @ https://www.marketsandmarkets.com/requestCustomization.asp?id=28668442 Europe held the largest share of the smart ticketing market in 2015 Europe held the largest share of the smart ticketing market in 2015 owing to the presence of key players such as Gemalto NV (Netherlands), Giesecke & Devrient GmbH (Germany), Oberthur Technologies (France), ASK (France), and Infineon Technologies AG (Germany), among others. Also, the European countries such as U.K., Germany, and Sweden are early adopters of smart ticketing technology in their public transportation network which has enabled the region to gain the largest market share and expected to be the leading region during the forecast period Some of the major players in this market are HID (U.S.), Gemalto NV (Netherlands), NXP Semiconductors (U.S.), Giesecke & Devrient GmbH (Germany), Infineon Technologies AG (Germany), CPI Card Group Inc. (U.S.), Inside Secure (France), Xerox Corporation (U.S.), Confidex Ltd. (Finland), Cubic Corporation (U.S.), ASK (France), and Oberthur Technologies (France), among others.

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