Mobile Ticketing Industry Revenue, Development Strategy, Growth Potential

Posted by Sakshi Mishra on April 1st, 2021

Industry Insight

Mobile ticketing plays a fundamental role in the information and technology industry. The global mobile ticketing market depends on this factor significantly, and based on this, it could expect an impactful growth of ~19% CAGR during the forecast period (2016-2022), reveals Market Research Future (MRFR) in an extensively studied report. At this pace, the market will be gaining a valuation of USD ~4026 Million within the same timeframe.

Top Impacting Factors

Mounting preference of customers in order to obtain, order, validate, and pay for tickets suitably has led to a surge in demand for the mobile ticketing market in recent years. In fact, reduced distribution and production costs related to traditional ticketing channels based on paper have also shown some positive side that could fuel the growth of the market in the coming years. At the same time, urbanization has been one of the significant factors leading the market to gain considerable valuation. 

Mobile tickets can be purchased through some of the trusted and secure mobile applications, via text messages, voice calls, online and WAP pages. Therefore, attributed to convenient, simple, and new ways to purchase tickets, the global mobile ticketing market is probable to witness high growth in the forecast period. Moreover, various trends, such as a rapid rise in the adoption of Smartphones, has further fuelled demand for mobile ticketing globally.

Some more factors, such as the wide adoption of Smartphones has optimistically impacted the escalation of the global mobile ticketing market. This trend is possible to continue in the imminent years. Additionally, it is opportune to manage to book a ticket without any need to commute to the ticketing counter while dealing with a busy lifestyle. Furthermore, many companies are witnessed to gradually partner with ticketing agents to start online portals for customers to easily login at any place and time for booking tickets online. Such factors are notably propelling demand for the global mobile ticketing market in the forecast years.

Despite these factors, the MRFR study came across some factors such as lack of proper internet connectivity is somehow hindering the growth of the market during its course. Even, lack of awareness amongst vendors as well as end-users on using apps to access and book tickets through the internet might also pause the growth course of the market during the forecast years.

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Segmentation of Market: Mobile Ticketing Market

The worldwide mobile ticketing market in MRFR’s study has been segmented among types, technology, and application.

In terms of type segment, the market has involved mobile applications and SMS ticketing.

The mobile ticketing market by technology segment has included OCR (Optical character recognition), PDF 417, 2D bar code, NFC technology, and QR code.

The mobile ticketing market by application type has included Entertainment tickets, travel tickets, and more.

Regional Framework

Geographically, the worldwide mobile ticketing market study is conducted among the key four regions, namely Europe, Asia, North America, and the Rest of the World (ROW).

Mobile ticketing applications are hurriedly gaining traction in the public transportation sector. In regions of Europe and North America, multiple smart city projects have been launched recently, which has included mobile ticketing for transportation services. These applications have made the process of public transportation booking system easy on a daily basis, which makes it easier for citizens to travel on various transportation modes. The users can book tickets for any option using a single app.

EMEA region led the market and will continue to lead over the next four years. The governments in EMEA have documented the magnitude of using new technologies to improve ticketing systems in the transportation sector and provide customers better services and convenience, which will enhance this market’s growth in the region.

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Sakshi Mishra

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Sakshi Mishra
Joined: September 30th, 2020
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