Smart Ticketing Market Set to Soar Past USD 27.84 Billion by 2030
The global Smart Ticketing market size is expected to reach USD 27.84 billion by 2030 and exhibit a CAGR of 15.5% in the forecast period (2023−2030), according to Skyquest’s latest research report. The growing urbanization and the need for efficient transportation systems, rising adoption of digital payment methods and mobile technologies, increasing demand for seamless and convenient ticketing solutions, government initiatives to promote smart city projects, and the surge in public transportation ridership is fueling the market’s growth.
Westford,USA, Jan. 23, 2024 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the Smart Ticketing market, the rise of mobile ticketing applications, the integration of artificial intelligence and machine learning for predictive analytics in ticketing systems, the emergence of blockchain technology for secure and transparent transactions, the implementation of open-loop payment systems for increased flexibility, the adoption of cloud-based ticketing solutions for scalability and accessibility, are the trends that aid in the market’s growth.
Browse in-depth TOC on “Smart Ticketing Market”
- Pages – 157
- Tables – 63
- Figures – 77
Smart Ticketing is a convenient and time-saving way to shop for groceries. You can order your groceries online from the comfort of your own home and have them delivered to your door or picked up at a designated location. This is a great option for people who are busy, have mobility issues, or simply don’t enjoy grocery shopping.
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Prominent Players in Smart Ticketing Market
- Amazon Fresh
- Walmart Grocery
- Instacart
- Kroger
- Aldi
- Costco
- Target
- FreshDirect
- Peapod
- Shipt
- Thrive Market
- HEB
- Publix
- Safeway
- Wegmans
- Albertsons
- Trader Joe’s
- Fairway Market
- Whole Foods Market
- Amazon Prime Now
Near Field Communication (NFC) Demand to Grow Substantially in the Forecast Period
Near Field Communication (NFC) dominate the global online market as it allows for secure and convenient communication between devices over short distances, making them suitable for contactless transactions, including smart ticketing. NFC-enabled smartphones and contactless smart cards have gained popularity due to their ease of use and quick transaction times. Additionally, the widespread adoption of smartphones globally provides a built-in platform for NFC technology.
Public transportation is the Leading Application Segment
In terms of application, the public transportation is the leading segment. This transportation systems handle a massive volume of daily transactions, with millions of commuters using buses, trains, and subways. The implementation of smart ticketing in these systems can significantly streamline the fare collection process, reducing wait times and improving overall efficiency.
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Europe is the leading Market Due to the Technological Advancements
Region-wise, Europe is one of the largest growing markets with a huge emphasis on technological advancements, regulatory environments, and the pace of urbanization. Many European countries have well-established and integrated public transportation systems that span multiple modes, making them conducive to the implementation of smart ticketing solutions.
A recent report thoroughly analyzes the major players operating within the Smart Ticketing market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Smart Ticketing.
Key Developments in the Smart Ticketing Market
- In April 2023, Cubic Corporation announced that it had been selected by the Metropolitan Transportation Authority (MTA) to provide a new fare payment system for the New York City subway, bus, and commuter rail system. The new system will use Cubic’s Axon fare collection platform, which includes contactless smart cards, mobile ticketing, and ticket vending machines.
- In March 2023, Scheidt & Bachmann announced that it had been awarded a contract to provide a new smart ticketing system for the London Underground. The new system will use Scheidt & Bachmann Aperio fare collection platform, which includes contactless smart cards, mobile ticketing, and ticket vending machines.
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Key Questions Answered in Smart Ticketing Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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