The global smart ticketing market is projected to grow at a modest CAGR of nearly 13.0% during the forecast period (2021-2027). The primary factor driving the market growth include the growing digitization and urbanization in emerging economies. Further, the growing adoption of smart ticketing systems in the travel and tourism industry is contributing to the growth of the market. Apart from these, the emerging shift towards contactless payments is further encouraging companies to invest in the sector. For an instance, in March 2021, Giesecke+Devrient (G+D) collaborated with IDEMIA and NXP Semiconductors. Together, the companies introduced the White Label Alliance (WLA) which respond to the increasing global demand for next-generation, discrete payment solutions for domestic and private-label payment brands.
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WLA embeds and updates an open and complete payment standard that allows ready-to-deploy dual interface payment solutions including contact and contactless payment cards, mobile devices, and payment terminal acceptance. In addition, in May 2019, Hitachi signed an agreement with Trentino Trasporti, a provider of public transportation in several municipalities in Trentino, Italy. The agreement aims to carry out the Proof of Concept (POC) of the latest digital ticketing solution for the public transportation managed by Trentino Trasporti including Trento-Malé-Mezzana Railway and buses in the vicinity of Trento, Italy. This latest digital ticketing solution was developed to utilize smartphones as tickets by using Hitachi group’s experience of ticketing solutions and digital technology.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Smart Ticketing Market – Segmentation
By Component
- Hardware
- Software
By Application
- Parking & Transportation
- Sports & Entertainment
Global Smart Ticketing Market – Segmentation by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global smart ticketing market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where in the market.
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