Smart Ticketing Market

Market Leader - Smart Ticketing Market

The smart ticketing market is projected to reach USD 20.4 billion by 2023 from USD 10.1 billion in 2018, at a CAGR of 14.99% during the forecast period. The affordable access to rapid transit with the help of smart transit systems, huge demand for smart ticketing from travel and tourism industry, advanced technologies in the smart ticketing systems, and upsurge in intelligent transportation market are the major factors driving the market growth.

Key players in the smart ticketing market include Cubic Corporation (US), Infineon Technologies (Germany), Conduent (US), Vix Technology (Australia), Rambus (US), HID Global (US), Gemalto (Netherlands), Giesecke+Devrient (Germany), Confidex (Finland), Inside Secure (France), Indra Sistemas (Spain), Paragon ID (France), Scheidt & Bachmann (Germany), CGI Group (Canada), Masabi (UK), Cityway (France), Smart Card IT Solutions (India), Xminnov (China), and Softjourn (US). These players mainly adopt strategies such as product launch and partnership to enhance their business and product line, which helps them grow at a higher pace in the smart ticketing market in the long run.

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Top 2 players in the smart ticketing market:

Cubic Corporation (US) delivers a variety of products and solutions, such as automatic fare collection (AFC) systems, traffic management and enforcement solutions, and real-time information collection systems, for public transportation. The company is focused on strategic developments including product launches and contracts. For instance, in October 2017, Cubic Transportation Systems launched the Cubic NextBus next-generation platform that is designed for multimodal transit agencies, authorities, and operators. In September 2017, the company along with Transport for London (TFL) launched the TfL Mobile Ticketing App for Oyster card users in London, UK, which allows Oyster card customers to manage their travel fares and payments, top up their cards, and view their journey history on the go via Android or Apple iOS devices.

Infineon Technologies (Germany) is one of the key suppliers of semiconductor and system solutions such as ICs, microcontrollers, and smart card ICs. In the smart ticketing segment, the company focuses on enhancing and diversifying their product portfolio by investing huge amounts toward R&D operations and introducing new products in the market frequently. For instance, in March 2016, Infineon launched a series of NFC security module to support mobile payments. In January 2016, it launched contactless transport and ticketing applications.

Related Reports:

Smart Ticketing Market by Offering (Hardware, Software and Services), Application (Transportation (Roadways, Railways, Airways), Sports & Entertainment), Revenue Channel, Connectivity, and Geography - Global Forecast to 2023

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Report Code
SE 4920
Published ON
Nov, 2018
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