The study provides an in-depth analysis of the smart ticketing market with current and future trends to elucidate the imminent investment pockets in the industry. It offers information about the key drivers, restraints, and opportunities with a detailed compact analysis.
Smart ticketing is the billing/ticketing system, where a prerogative to travel (a ticket), is stored electronically on a microchip rather than being issued as a paper ticket. In most smart ticketing schemes, the microchip on which a ticket is stored is embedded in a smartcard.
For this reason, smart ticketing schemes are often known as smartcard schemes, although this application expands a lot further than just smartcard. Smart ticketing uses the government backed ITSO specification to allow seamless travel in both intraregional and interregional travel supported on different modes of transport.
It is fast, more efficient, and saves a lot of paperwork.
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The smart ticketing market implementation is not only limited to the transport industry, but also gains popularity in sports, entertainment, BFSI, and healthcare. Increase in demand for the transparency solutions through which transportation, entertainment, and sports industry players are digitizing their existing billing systems fuel the market growth.
The technologies such as QR code, NFC, RFID, barcode, local wireless ticketing, and open payment systems enable the smart ticketing companies to offer smart solutions across different industries, which provide diversified payment options to its customers. However, smart card feature high transaction time as compared to paper ticket and difficulty in organizing and managing the whole system restrains the rapid development of the market.
The smart ticketing market is segmented based on system, component, product, application, and geography. On the basis of system, it is bifurcated into smart card, open payment system, and near-field communication.
Based on component, it is divided into software and hardware. Based on product, it is classified into ticket machine, e-ticket, e-kiosk, request tracker, and others.
Applications covered in the study include sports & entertainment, transportation, and others. Geographically, the market is studied across Europe, North America, Asia-Pacific, and LAMEA.
Key players include HID Global Corporation, Gemalto NV, NXP Semiconductors, Giesecke & Devrient GmbH, Infineon Technologies AG, CPI Card Group Inc., Inside Secure, Xerox Corporation, Confidex Ltd., Cubic Corporation, ASK, and Oberthur Technologies.
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