Smart ticketing is the innovative way forward for many public transportation companies. This new technology is an extremely useful, efficient and cost effective tool to use rather than older forms of ticketing. Smart ticketing is the name given to the system where an entitlement to travel (or ticket) is stored electronically on a microchip rather than being printed on 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 there is much more to the scheme than just the smartcard.
Smart ticketing uses the government backed ITSO specification to allow seamless travel between, and within, cities and regions; and different modes of transport. Many public transportation companies use smart ticketing for passengers to seamlessly hop on and off their busses, trams or trains without having to use traditional payment system.
Rising demand from travel and tourism industry, technological advancement are the major factors driving the growth of smart ticketing market globally; whereas, high investment on smart ticketing components, lack of know-how are major restraints of the global market. The global smart ticketing market is segmented on the basis of product type, by component, by system, by application, technology and region. On the basis of product type, the global market is classified into Smart Bill, Smart Parking, Ticket System (E-Ticket, E-Toll, E-Kiosk, Request Tracker), Ticket Machine.
On the basis of component, the global market is classified into software, hardware. The software segment accounted for the largest market share of smart ticketing in 2015. The software interface of a smart ticketing is relatively expensive, and it works with payment gateways and other connected systems such as smartphones and card readers through servers. Therefore, the larger market share held by software component is accredited to requirement of the recurrent upgradation in software interface along with their high expenses and growing adoption of digital framework for public transportation.
On the basis of system, the global market is classified into Smart Card, Open Payment system, Near-Field Communication System. On the basis of application, the global market is classified into Railways and Metros, Sports and Entertainments, Airlines, Buses, and others. The “railways and metros” segment account for the majority share of smart ticketing market in 2015, while airlines are estimated to grow at the highest rate during the forecast period of 2014 to 2025.
The deployment of smart ticketing technology in the airlines with well-organized features such as self-boarding and self-luggage handling helps the airport authority to handle the critical operations at peak hours. Therefore, the suitability associated with the smart ticketing solution is likely to influence the airlines industry during the forecast period by 2025. On the basis of technology, the global market is classified into Bar Code, QR Code, Others. Geographically, the global market is classified into North America, Latin America, Asia Pacific, Japan, Middle East and Africa.
The market is majorly conquered by the European region. Asia Pacific is projected to grow at fastest pace during the forecast period. Various countries in Asia Pacific such as China, India, Singapore, and Japan are socializingauspicious regulations and providing funds to strengthen the deployment of smart transit systems across the region. Moreover, the market players of smart ticketing system are launching exclusive smart ticketing solutions to empower the public transportation network in the region.
The key players of the global market are HID, Gemalto NV, NXP Semiconductors, Giesecke&Devrient GmbH, Infineon Technologies AG, CPI Card Group Inc., Inside Secure, Xerox Corporation, Confidex Ltd., Cubic Corporation, ASK, andOberthur Technologies.
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