Transport Ticketing System Market Segments Analysis and Opportunities 2027

Posted by sneha patil on January 11th, 2022

The global transport ticketing system market is expected to exhibit a strong 10% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The Transport Ticketing System Market is expected to grow to a valuation of USD 11 billion by 2023, according to the report. The report presents a detailed overview of the global transport ticketing market, detailing the major drivers and restraints affecting the transport ticketing system market. Major factors and trends likely to cause major shifts in the global transport ticketing market are profiled in detail in the report. The key players operating in the global transport ticketing market are also profiled in detail in the report. The report also examines the impact of the COVID-19 pandemic on the global transport ticketing market.

Transport ticketing is a key service for use in public transportation. Transport ticketing enables consumers to acquire tickets conveniently and securely, allowing smooth movement in public transportation systems. The growing popularity of public transportation systems is likely to be a major driver for the global transport ticketing market over the forecast period. Due to the growing awareness about vehicular emissions, many consumers are preferring public transportation, which cause less damage to the environment, as the per-passenger emissions are reduced due to the high volume of passengers using public transportation systems. The increasing introduction of cheap pricing on public transportation systems is also likely to be a major driver for the global transport ticketing market. Due to the cheap prices of public transportation in comparison to the costs of owning and managing a personal vehicles, many poorer demographics of citizens in developing as well as developed countries prefer using public transportation. In the long term, public transportation often presents a more affordable option in comparison to owning a personal vehicle. This is likely to be a major driver for the global transport ticketing market.

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The increasing development of smart ticketing systems and cashless ticketing systems is also likely to be a major driver for the global transport ticketing market. Many tech giants have made strong strides in the field of cashless and smart ticketing systems due to the potential for widespread and large-scale application. Many developed countries employ smart ticketing systems in order to make the ticketing procedure more convenient for the consumer. The popularity of smart ticketing systems is also growing in developing countries due to the growing popularity of NFC-enabled smartphones. This is also likely to be a major driver for the global Transport Ticketing Market over the forecast period.

Segmentation:

The global Transport Ticketing System Market is segmented on the basis of product, system, application, and region.

By product, the global transport ticketing market is segmented into ticket machines, e-tickets, e-kiosks, and e-toll. Ticket machines are the oldest form of transport ticketing systems and hold a considerable share in the global transport ticketing market. Many countries employ legacy technologies such as ticket machines to facilitate convenient ticketing for passengers. This is a major driver for the ticket machines segment. The e-kiosks segment is expected to grow at the highest growth rate over the forecast period due to the higher convenience of e-kiosks.

By system, the global transport ticketing market is segmented into smart cards and smartphones.

By application, the global transport ticketing market is segmented into railways and metros, buses, personal vehicles, airlines, and ships.

Regional Analysis:

North America holds the largest share in the global transport ticketing market and is likely to remain dominant over the forecast period. The growing use of mobile devices in North America is a major driver for the regional transport ticketing market. Asia Pacific is expected to exhibit the highest growth rate over the forecast period.

Competitive Leaderboard:

Leading players in the global transport ticketing market include Infineon Technologies AG, Rambus Inc., AEP Ticketing Solutions (Signa), Xerox Corp., Cubic Corp., CPI Card Group Inc., Accenture plc, NXP Semiconductors, Gemalto NV, and HID.

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sneha patil

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sneha patil
Joined: December 28th, 2020
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