Smart ticketing market predicted to grow by nearly eight per cent by 2022

The latest research by MarketsandMarkets predicts that the smart ticketing market will be worth US$10.22 billion by 2022, growing at a CAGR of 7.93 per cent between 2016 and 2022. The growth of this market is driven by the factors such as affordable access to smart transit systems, emerging applications in travel and tourism industry, thriving adoption of smart technology, and user-friendly platform. The market for ticket machine is expected to hold the largest share of the overall market by 2022. It
January 17, 2017 Read time: 2 mins
The latest research by 6418 MarketsandMarkets predicts that the smart ticketing market will be worth US$10.22 billion by 2022, growing at a CAGR of 7.93 per cent between 2016 and 2022.

The growth of this market is driven by the factors such as affordable access to smart transit systems, emerging applications in travel and tourism industry, thriving adoption of smart technology, and user-friendly platform.

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 (NFC) 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.

Europe held the largest share of the smart ticketing market in 2015 owing to the presence of key players such as 3866 Gemalto NV (Netherlands), 3842 Giesecke & Devrient (Germany), 6369 Oberthur Technologies (France), 150 ASK (France), and 6367 Infineon Technologies (Germany), among others. Also, the European countries such as UK, 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.

For more information on companies in this article

Related Content

  • Smart mobility on the rise, says ABI Research
    May 10, 2016
    As extreme pollution and congestion in urban areas coupled with limited transportation options continues to challenge major cities across the globe, market intelligence firm ABI Research, predicts an imminent rise in smart electric mobility. Data analysis forecasts global electric vehicle revenue will hit US$58 billion in 2021, more than five times its market value in 2015. "The role of vehicle electrification in urban areas is part of a broader smart mobility model that includes shared vehicles, chargi
    Read More
  • Tolling expected to be fastest growing application of ALPR, says report
    February 12, 2014
    According to global information company, the growing adoption of automatic license plate recognition (ALPR) technology is having an adverse impact on the vehicle entrance control industry, specifically the vehicle barrier and off-street parking systems markets, according to IHS. The presence of ALPR technology is increasing the most for toll ways and off-street parking garages, which is negatively impacting the growth of vehicle barriers, the research firm reports. In ALPR mature markets such as the Amer
    Read More
  • Bremen upgrades public transport ticketing
    March 3, 2015
    German ticketing systems supplier Init is to modernise the ticketing system used by Bremer Straßenbahn (BSAG) in Bremen, Germany. By the end of 2017, more than 330 vehicles, three customer centres, 150 sales points and the larger bus and tram stops will be equipped with electronic printers, a boarding control system and mobile and static ticket machines, while a new point-of-sale system will be implemented in the customer centres. For the more than 105 million passengers that BSAG keeps moving every year, t
    Read More
  • China orders 7.5 million ASK contactless paper tickets
    January 30, 2012
    ASK ticket technology, used during the Beijing Olympic games, is being used in China again at another major international cultural event - Xi'an International Horticultural Exposition 2011 - which started on 28 April and will close on 22 October, 2011 and is expected to attract more than 10 million visitors.
    Read More

Highlighted Content