The Smart Ticketing Global Market Report 2023, provides comprehensive information on the smart ticketing market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Smart Ticketing Global Market Report 2023, the market size is expected to grow from $13.77 billion in 2022 to $16.05 billion in 2023 at a compound annual growth rate (CAGR) of 16.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the smart ticketing is expected to grow to $27.35 billion in 2027 at a CAGR of 14.3%.
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Technological advancements in smart ticketing systems are a key trend gaining popularity in the smart ticketing market. Major companies operating in the smart ticketing sector are focused on developing new technological solutions to strengthen their market position. For instance, in February 2021, Infineon Technologies AG, a Germany-based semiconductor manufacturer, launched 40 nm SLC36/SLC37, a new way of online ticketing. The 40nm platform products offer best-in-class contactless performance based on a powerful and energy-efficient 32-bit ARM SecurCore SC300 dual-interface security crypto controller in combination with the SOLID Flash memory concept. Customers can book fast tickets by using the 40nm technology. This reduces new product design work by allowing for easy Software migration from the 65nm SLC32 platform, which enables quick approval and short lead times owing to unique logistical approaches. Furthermore, the new 40nm technology platform serves as the foundation for SECORATM’s next-generation payment and ticketing solutions.
The smart ticketing market is segmented:
1) By Product: Ticket Machine, E-Ticket, E-Kiosk, Request Tracker
2) By Component: Hardware, Software
3) By System: Open Payment System, Smart Card, Near-Field Communication
4) By Organisation Size: SMEs, Large Enterprises
5) By Application: Railways, Airways, Roadways, Sports And Entertainment
Europe was the largest region in the smart ticketing market in 2022.
The table of contents in TBRC’s smart ticketing market report includes:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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