Global Smart Ticketing Market to 2031 - Featuring Cubic, Confidex and NXP Semiconductors Among Others - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Smart Ticketing Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the global smart ticketing market.

The global smart ticketing market is expected to grow from $11.6 billion in 2021 to $13.89 billion in 2022 at a compound annual growth rate (CAGR) of 19.7%. The smart ticketing market is expected to grow to $25.07 billion in 2026 at a compound annual growth rate (CAGR) of 15.9%.

Companies Mentioned

• Cubic Corporation
• Confidex Ltd.
• NXP Semiconductors
• CPI Card Group
• Infineon Technologies AG
• Scheidt & Bachmann
• HID Global Corporation
• Giesecke+Devrient
• Verimatrix
• Hitachi Ltd.
• Xerox Holdings Corporation
• Vix Technology
• Atsuke
• Siemens Mobility GmbH

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
• Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market research findings.
• Benchmark performance against key competitors.
• Utilize the relationships between key data sets for superior strategizing.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis

The smart ticketing market consists of sales of the smart ticketing by entities (organizations, sole traders, and partnerships) that refers to a ticketing system where travel tickets are electronically stored on smartphones or smartcards. Smart ticketing is a system that stores a travel ticket digitally on a microchip, which is then typically embedded on a smartcard.

Passengers on public transportation could use a smartcard to seamlessly board and disembark from buses, trams, or trains without having to use cash or purchase a paper ticket. To authorize the travel details, the transport operator scans the contactless smartcard at a static or handheld ticket machine or barrier.

The main types of products in smart ticketing are ticket machines, e-tickets, e-kiosk, and request trackers. An e-kiosk is a touch-screen device that allows passengers to check-in and pays for their tickets using their credit or debit cards for free. The various components used are hardware and software that are employed in various applications such as open payment systems, smart cards, and near-field communication. The systems are used by SMEs (small and medium enterprises) and large enterprises for railways, airways, roadways, sports, and entertainment applications.

Europe was the largest region in the smart ticketing market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in smart ticketing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The revival of the travel and tourism industry will significantly contribute to the growth of the smart ticketing market. Due to the COVID-19 pandemic, the tourism industry was the worst-affected industry, with all sectors, including airlines and hospitality, being severely impacted. To combat the effects of COVID-19, travel-dependent economies around the world are devising creative solutions, such as activities aimed at instilling confidence, such as the SG Clean and Qatar Clean initiatives, as well as activities aimed at attracting tourists, such as safe travel bubbles, pilot projects, and offering incentives. Smart ticketing eliminates the need for cash payment for travel and helps to safeguard passengers and drivers from dangerous infections.

For instance, according to World Tourism Organization (UNWTO) report, global tourism grew by 4% in 2021. In addition, the total number of global travelers grew from 400 million passengers in 2020 to 420 million in 2021. Therefore, the growth of the travel and tourism industry will positively impact the smart ticketing market.

Technological advancements in smart ticketing systems are a key trend gaining popularity in the smart ticketing market. Major companies operating in the smart ticketing sector are focused on developing new technological solutions to strengthen their market position.

For instance, in February 2021, Infineon Technologies AG, a Germany-based semiconductor manufacturer, launched 40 nm SLC36/SLC37, a new wat of online ticketing. The 40nm platform products offer best-in-class contactless performance based on a powerful and energy-efficient 32-bit ARM SecurCore SC300 dual-interface security crypto controller in combination with the SOLID Flash memory concept.

Customers can book fast tickets by using the 40nm technology. This reduces new product design work by allowing for easy Software migration from the 65nm SLC32 platform, which enables for a quick approval and short lead times owing to unique logistical approaches. Furthermore, the new 40nm technology platform serves as the foundation for SECORATM's next-generation payment and ticketing solutions.

For more information about this report visit https://www.researchandmarkets.com/r/4c6tlq