DUBLIN--(BUSINESS WIRE)--The "Europe Smart Ticketing Market: Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023" report has been added to ResearchAndMarkets.com's offering.
The Europe smart ticketing market revenue is estimated to be $1.74 billion in 2017 and is expected to reach $5.38 billion by 2023, growing at a CAGR of 20.69% during the forecast period 2017-2023.
The demand for smart ticketing in Europe is driven by growing European tourism industry, simplified technology ecosystem, and the need for the innovation of more potential ticketing systems across urban areas. The leading payment solution vendors in Europe are also increasing their presence in this market by offering integrated payment solutions through partnerships with smart ticket developers and operators. These companies are also deploying big data analytics and connected devices to track the passenger travel patterns so that operators can provide customized products and services.
Technological advancements in smart ticketing have pushed companies to adopt technologies such as NFC, RFID, QR code, and barcode. The emergence of smartphones equipped with NFC technology has resulted in introducing the necessary infrastructure for smart ticketing across the industries. RFID technology is widely used in smart cards due to its cost-effectiveness, and it is widely accepted in sports, entertainment, and transport among other industries. QR code and barcode technologies are being adopted in events, sports clubs, buses, metro stations, and others. The open payment systems are in great demand owing to decrease the waiting time for payments across the industries. The RFID market revenue is expected to reach $2,131.1 million by 2023, growing at a CAGR of 20.2% during the forecast period.
The products segment include ticket vending machine, smart parking, smart bill, ticketing systems, and others. Ticketing machines offer diverse types of tickets to passengers according to the mode of transport; vending machines service to customers is also one of its kind. Smart parking uses sensors and ticketing systems in its parking space to determine vehicle occupancy levels. The ticketing system market revenue is valued at $852.3 million in 2017 and will grow at a CAGR of 20.9% during the forecast period.
Key Topics Covered:
1. Industry Outlook
2. Report Outline
3. Market Snapshot
4. Market Outlook
5. Market Characteristics
6. Technology: Market Size and Analysis
7. Product: Market Size and Analysis
8. Modes: Market Size and Analysis
9. Verticals: Market Size and Analysis
10. Europe: Market Size and Analysis
11. Vendor Profiles
- Cubic Corporation
- Rambus Inc.
- Infineon Technologies AG
- NXP Semiconductors
- Xerox Corporation
12. Companies to Watch For
- Confidex Ltd.
- Masabi Ltd.
- RFID Global
- CAEN RFID
For more information about this report visit https://www.researchandmarkets.com/research/dcn2gw/5_3_billion?w=4