DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Smart Ticketing Market by Product (Ticket Machine, E-Ticket, E-Kiosk), Component (Software and Hardware), System (Smart Card, Open Payment System, and Near-Field Communication), Application, and Geography - Global Forecast to 2022" report to their offering.
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
Affordable access to smart transit systems and emerging applications in travel and tourism industry are expected to drive the smart ticketing market
Seamless implementation of smart ticketing systems across the public transportation network require an open architecture which can depict a perceptible amount of compatibility with the various hardware and software components of smart ticketing system. However, requirement of centralized framework of smart ticketing system and large amount of funds can be the factors hindering growth of the market.
E-kiosk is an embedded system equipped with the technologies assisting self-services at numerous transit points of airlines and railways and metros. On account of this feature, it can reduce the pressure on manual operations during peak hours. The implementation of e-kiosks is expected to empower the digital framework. Therefore, the adoption of e-kiosks is expected to increase during the forecast period owing to its seamless self-assistance feature.
Various APAC countries such as China, India, Singapore, and Japan are circulating favorable regulations and providing funds to strengthen the deployment of smart transit systems across the region. For instance, Mumbai Metropolitan Region Development Authority (MMRDA) (India) launched Go Mumbai smartcard, while Singapore selected Gemalto (Netherlands) to implement mobile NFC ticketing solution in its entire public transport network. Thus, the governments of APAC countries are supporting the implementation of smart transit system consistently, and the adoption is expected to increase during the forecast period.
The key players in the smart ticketing market profiled in the report are as follows:
- 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)
- Oberthur Technologies (France)
Market Dynamics
Drivers
- Affordable Access to Smart Transit Systems
- Emerging Application in Travel And Tourism Industry
- Flourishing Adoption of Smart Technologies
- User-Friendly Platform
Restraints
- Requirement of Large Amount of Funds
- Centralized Framework of Smart Ticketing Systems
Opportunities
- Acquiring Complete Cashless Transactions
Challenges
- Designing An Open Architecture
For more information about this report visit http://www.researchandmarkets.com/research/c9gblw/smart_ticketing
