The smart ticketing system is a system which enables storing tickets electronically in a microchip. The microchip is embedded on a pepper card and this is known as a smart card. Some of the key advantages of using smart ticking system include safety from fraud, providing passengers with credit or pre loaded ride travels in case of an advance travel, help is reduction or eliminating long queue. Further smart ticketing system enables the operators and sellers to provide there personalized or customized tickets which suit the requirement of a wide range of individuals and cater to their customized requirements.
The smart ticketing system is most widely adopted in the transportation sector. Some of the key factors driving the smart ticket market include successful application of a wide range of smart technology. Rising application in tourism and travel industry and applications of systems which are user friendly which could be accessed and easily used by people from all age group is further driving the smart ticketing market growth.
Some of the factors restraining the smart ticketing system market include high setup cost and a centralized operating unit for operating the smart ticketing system to operate effectively. Further many governments across globe are adopting demonetization policies and encouraging cashless transactions. This is a key opportunity for the smart ticking market to grow over the near future.
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The smart ticketing market by ticketing solution could be segmented into HCT Ticketing App, HCE ticketing wallet services, processing systems or host operator system, remote ticket download, smart cards, smart ticket checker app and card management system (CMS). The smart ticketing market by product could be segmented by e-ticket, ticket machine, e-kiosk, e-toll, smart parking system and others. Ticket machine is expected to lead the smart ticketing market segmented by product type.
The smart ticketing market by component could be broadly segmented into hardware and software.
The smart ticketing market by hardware could be further segmented into cards and microchips, POS terminal equipment and card reader. The smart ticketing market by system could be broadly segmented into near field communication system, smart card and open payment system. The smart card segment in the smart ticketing market segmented by system could be further segmented into chip less radio frequency identification (RFID) and chip radio frequency identification RFID. The near field segment in the smart ticketing market segmented by system is expected to grow at the fastest rate over the next few years.
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Geographically the smart ticketing market could be broadly segmented into North America, Asia Pacific, Latin America, Europe and Middle East and Africa. Europe led the smart ticketing market. Most of the major players operating in the smart ticketing market are based in the region. Moreover, there is high rate of adoption of the smart ticketing system in Germany, U.K. and Sweden. Further, Europe is expected to dominate the smart ticketing market over the next few years.
Some of the key players operating in the smart ticketing market include Gemalto NV (the Netherlands), HID (U.S.), NXP Semiconductors (U.S), Infineon Technologies AG (Germany), Giesecke & Devrient GmbH (Germany), Inside Secure (France), CPI Card Group Inc., (U.S.) among others.