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Smart Ticketing Market to Grow at a CAGR of 19.7% During 2017-2023: Analysis By Product, Vertical & Region - Research and Markets

[June 27, 2017]

Smart Ticketing Market to Grow at a CAGR of 19.7% During 2017-2023: Analysis By Product, Vertical & Region - Research and Markets

Research and Markets has announced the addition of the "Smart Ticketing Market - Global Drivers, Opportunities, Trends, and Forecasts to 2023" report to their offering.

The Smart Ticketing market will witness a CAGR of 19.7% during the forecast period 2017-2023. The market is analyzed based on products, verticals, and regions. The products segment is further divided into ticket machine, ticket system, smart parking, smart bills, and others.

Smart ticketing refers to a system in which a travel ticket is stored digitally on a microchip rather than a print out, and is generally embedded on a smart card. Smart ticketing is mainly used in public transport supported by various governments and a sustainable transport policy, which improves the overall transportation services with increased usage of NFC-enabled mobile phones. Smart ticketing has also brought innovation to sports, entertainment, BFSI, and healthcare industries and are being widely implemented in many industris. Globally, increasing demand for cashless payments has enabled smart ticketing companies to innovate on mobile payment options.

The transportation industry is expected to hold the major market share, growing at a CAGR of 19.0% during the forecast period 2017-2023. In the transportation industry, land transport mode segment is expected to contribute the major market revenue followed by airways and water transport. Increasing demand for smart technologies by public transportation authorities and operators to automate their ticketing process is expected to drive the market growth.

Companies Mentioned