Transport Ticketing Market 2020 by Current & Upcoming Trends
Market Overview
Transport ticketing system is the upgraded technology which extends chip solutions with respect to open standards. The transport ticketing market is consistently approaching a market worth of USD 11 bn by the end of 2023 owing to the market development at a CAGR of 10% throughout the estimation period ranging from 2018 to 2023. Smart transport ticketing system comprises entitlement to travel, where ticket is preserved electronically on a microchip rather than fetching a printed version of the paper ticket. In most smart ticketing systems, the microchip on which ticket details are preserved is entrenched in a smartcard.
Transport ticketing service that provides smart ticketing option, facilitates passengers to check top-up price, load and purchase tickets and present the contents of their wallet. These can be retrieved even if a smartphone is out of reach or offline. Such attributes related to transport ticketing system paves the way for unified travel within and between regions, cities, and countries, availing different modes of transport.
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Key Players
Transport ticketing market is largely dominated by key players such as Gemalto NV (Netherlands), HID (U.S.), Accenture Plc (Ireland), NXP Semiconductors (U.S.), Cubic Corp. (U.S.), CPI Card Group Inc. (U.S.), AEP Ticketing Solutions (Signa), Xerox Corp. (U.S.), Infineon Technologies AG (Germany), Rambus Incorporated (U.S.), among others.
Market Segmentation
Based on the analysis of Market Research Future’s reports, the Transport Ticketing Market has been segmented based on system, application, and product. By analysis of MRFR’s reports, the transport ticketing market has been segmented on the basis of product, system and application.
The product segment is further branched as e-toll, e-ticket, parking system, request tracker, e-kiosk and others. Of these, the e-kiosk segment is expected to grow at the highest CAGR during the forecast period as it helps in reducing the manual operations and proves to be very efficient during peak hours of transportation.
In product segment, ticket machine is the oldest form of smart transport ticketing, which helps in maintaining and managing flow of passengers during peak hours. Hence it is expected to hold the largest market share during the forecast period.
Regional Analysis
North America has represented a dominant role in the worldwide transportation ticketing market, whereas APAC is expected to develop rapidly throughout the forecast period by 2023 attributing to the technical progressions and surging applications of mobiles devices in these regions.
Infineon technologies is one of the leading player in transport ticketing market and has designed 5 billion ICs that offers comprehensive portfolio of chip solutions based on open standards.
LIST OF TABLES
TABLE 1 TRANSPORT TICKETING MARKET, BY PRODUCT
TABLE 2 TRANSPORT TICKETING MARKET, BY SYSTEM
TABLE 3 TRANSPORT TICKETING MARKET, BY APPLICATION
TABLE 4 TRANSPORT TICKETING MARKET, BY REGION
TABLE 5 NORTH AMERICA TRANSPORT TICKETING MARKET, BY PRODUCT
Continued……
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LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 TRANSPORT TICKETING MARKET: BY PRODUCT (%)
FIGURE 3 TRANSPORT TICKETING MARKET: BY SYSTEM (%)
FIGURE 4 TRANSPORT TICKETING MARKET: BY APPLICATION (%)
FIGURE 5 TRANSPORT TICKETING MARKET: BY REGION (%)
Continued……
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