Smart ticketing refers to the system in which a ticket is stored digitally on a microchip rather than a print, and is generally embedded on a smart card. It is mainly used in public transport, which improves the overall transportation services with increased usage of NFCs and smart card. In this space, various governments are planning to develop a sustainable transport policy. Smart ticketing has also brought innovation to sports, entertainment, BFSI, and healthcare industries.
Recently, BFSI and healthcare industries have started implementing smart ticketing by issuing smart cards, which reduces the customers queueing, paperwork, and moreover, it is cost-effective. Many sports authorities, entertainment agencies, and public & private transport operators are investing in smart ticket to increase customer security, improve their operations, and raise customer satisfaction. Additionally, public & private transport players such as railways, roadways, and airways are now reaping the benefits from smart ticketing that allows them to offer the best prices, less operational cost, and better customer longevity with improved services & solutions.
The increasing demand for real-time information, rising disposable income level, and usage of mobile & web applications are driving the smart ticketing market growth. The smart ticketing market is segmented into software, products, technology, end-users, and regions. The key stakeholders include public & private transport operators, bankers, IT enterprises, governments, network providers, and others.
In terms of regions, Europe is expected to have the major market share followed by Asia Pacific. Some of the key market players included are NXP Semiconductors, Xerox Corporation, Rambus, Broadcom Limited, Qualcomm Technologies, Inc., and others.
The study covers and analyzes the “Smart Ticketing” market. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.