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Transport Ticketing Market Size

ID: MRFR//2854-HCR | 100 Pages | Author: Ankit Gupta| May 2024

The Transport Ticketing Market is impacted by market factors that by and large shape its elements and development. As innovation keeps on advancing, the transport ticketing scene goes through huge changes. The reception of advanced arrangements, mobile apps, and contactless instalment techniques has become progressively predominant, mirroring the interest for more proficient and easier to understand ticketing encounters. The consistent combination of imaginative innovations, like NFC and RFID, further improves the market by giving secure and helpful ticketing choices.
Financial factors similarly apply a significant effect on the transport ticketing area. Financial development, purchaser spending power, and foundation ventures all add to the market's direction. In locations facing financial development, there is many times an expanded interest for transportation administrations, prompting a higher reception of revolutionary ticketing arrangements. Alternately, financial drops can impact travel examples and effect venture choices, possibly influencing the development of the transport ticketing market.
One significant market element that cannot be disregarded is shifting consumer behavior. The commuters of today are increasingly adopting modern lifestyles and searching for helpful, last-minute arrangements. Changing buyer preconceptions align with the desire for consistent and well-planned ticketing interactions. Transport companies and technology providers need to adapt to these shifts in behavior by providing user-friendly interfaces, mobile ticketing options, and tailored services that specifically cater to the preferences of today's well-educated commuters.
Events from around the world and unforeseen circumstances strengthen the concept of the transport ticketing market. For instance, the coronavirus epidemic accelerated the adoption of touchless and contactless ticketing systems as concerns about security and hygiene gained priority. These incidents underscore the need for adaptable and robust ticketing systems that can respond to sudden disruptions and shifts in consumer behavior.
An further important market component is foundation improvement. The organization and sufficiency of ticketing frameworks are impacted by the accessibility and condition of the transportation infrastructure. The desire to expand and modernize transportation networks created opportunities for the integration of cutting-edge ticketing innovations. Conversely, an out-of-date or nonexistent foundation could make it harder to consistently carry out creative ticketing arrangements

Global Transport Ticketing Market Overview:

Transport Ticketing Market Size was valued at USD 10.2 Billion in 2023. The Transport Ticketing industry is projected to grow from USD 11.80 Billion in 2024 to USD 33 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.72% during the forecast period (2024 - 2032). Rapid acceptance of smart technologies and increased use of smart ticketing are the key market drivers enhancing the market growth.

Global Transport Ticketing Market Overview

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Transport Ticketing Market Trends

  • The growing acceptance of contactless payment technologies drives market growth.

Market CAGR for transport ticketing is being driven by the growing acceptance of contactless payment technologies. Contactless payment methods have grown in popularity in recent years due to their convenience, speed, and security. Contactless payment systems have been popular in the transportation ticketing sector because they allow passengers to pay for their tickets fast and easily without the need for cash or physical tickets. This has resulted in shorter wait times and improved passenger flow, which has been praised by both transport operators and passengers. Contactless payment systems can provide a variety of other advantages, such as improved data collecting and analysis, which can assist transportation operators in better understanding passenger behaviour and preferences.

Furthermore, mobile ticketing systems have grown in popularity in recent years, allowing travellers to purchase and keep their tickets immediately on their smartphones. This eliminates the need for physical tickets, which are easily misplaced or damaged, and gives travellers with a more convenient and flexible method of purchasing and using tickets.

Other advantages of mobile ticketing solutions include improved data collecting and analysis, which can help transportation companies better understand consumer behaviour and preferences. This can assist operators in optimizing their services, increasing efficiency, and lowering costs. Furthermore, because mobile ticketing solutions use powerful encryption and authentication technologies to safeguard sensitive data, they can assist to decrease fraud and improve security.

For intance, the New York Metropolitan Transportation Authority (MTA) in 2019 unveiled OMNY, a new mobile ticketing software that allows customers to purchase and keep tickets directly on their smartphones. The app accepts a variety of payment methods, including contactless payment systems, and is intended to make purchasing and using tickets more easy and flexible for users. Since its release, the app has been widely used by passengers, contributing to an improved overall passenger experience on New York City's subway and bus networks.

Another factor fueling the expansion of the transport ticketing industry is the growing need for integrated transportation systems. Integrated transportation systems strive to provide passengers with a smooth and interconnected network of transportation services, including buses, trains, trams, and other forms of transportation. These solutions are intended to improve the entire passenger experience, minimize congestion, and boost the efficiency of transportation services. To do this, integrated transportation systems require modern ticketing solutions that can accommodate many modes of transportation and give passengers with a seamless and convenient manner to purchase and utilize tickets. As a result, there is a growing demand for advanced ticketing solutions that can meet the complex requirements of integrated transportation systems.

The Oyster card system is used in London to provide passengers with a smooth and integrated network of transportation services, including buses, trains, trams, and other forms of transportation. The Oyster card is a contactless smart card that can be used to pay for travel on all of these services, giving travellers a quick and flexible option to buy and use tickets. Passengers have widely adopted the system, which has helped to improve the overall passenger experience on London's transportation network. Similar integrated transportation systems are being constructed in other cities throughout the world, fueling growth in the transportation ticketing business.

Transport Ticketing Market Segment Insights:

Transport Ticketing Product Insights

The Transport Ticketing Market segmentation, based on Product includes Ticket Machine, E-Ticket, E-Kiosk, E-Toll. In 2022, the e-ticket category dominated the market. The pandemic spread prompted an increase in contactless payments and services across industries, including transportation. For example, in May 2023, using Metropolitan Transit made it possible for riders to purchase tickets using the Uber app and other channels, such as the VIA goMobile+ app. E-ticketing systems give users payment options for tickets purchased across several forms of transportation.

Transport Ticketing System Insights

The Transport Ticketing Market segmentation, based on System, includes smart card and smart phone. In 2022, the smart card category dominated the market. The advantages of utilizing smart cards, such as their durability, efficiency, and ease in travel, are projected to fuel their increasing use over the projection period. Trainline, a UK-based online coach and rail ticket provider, reported that in 2022, local travellers might save up to 69% on travel expenditures. Furthermore, many nations, like Hong Kong, South Korea, and Japan, offer multi-purpose smart cards that may be used to make purchases in retail outlets and vending machines.

Figure1: Transport Ticketing Market, by System, 2022 & 2032 (USD Billion)

Transport Ticketing Market, by System, 2022 & 2032

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Transport Ticketing Application Insights

The Transport Ticketing Market segmentation, based on application, includes railways & metros, buses, personal vehicles. In 2022, the railways and metros category dominated the transit tickets market. Contactless credit or debit cards enable travelers to buy, store, and validate transportation tickets on public transportation networks. These ticketing solutions provide corporate analytics, cost savings, and cost savings in addition to enhancing customer pleasure.

Transport Ticketing Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. In 2022, North America held the largest market share. The market is predicted to develop due to increased acceptance of innovative technologies and the presence of major regional companies such as Conduent, Inc., HID Corporation, Masabi Ltd., and others. Early adoption of transit ticketing for applications such as rail transport, particularly in the United States and Canada, has considerably contributed to the market's growth. Furthermore, several internet ticket purchasing options have made the procedure easier for both buyers and sellers.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2: Transport Ticketing Market SHARE BY REGION 2022 (USD Billion)

Transport Ticketing Market SHARE BY REGION 2022

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Transport Ticketing Market accounts for the second-largest market share. There is a rising emphasis on sustainable transportation systems. Further, the German Transport Ticketing Market held the largest market share, and the UK Transport Ticketing Market was the fastest growing market in the European region

The Asia-Pacific Transport Ticketing Market is expected to grow at the fastest CAGR from 2024 to 2032. This is due to rising demand for sophisticated ticketing solutions. Moreover, China’s Transport Ticketing Market held the largest market share, and the Indian Transport Ticketing Market was the fastest growing market in the Asia-Pacific region.

Transport Ticketing Key Market Players& Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Transport Ticketing Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Transport Ticketingindustry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Transport Ticketing industry to benefit clients and increase the market sector. In recent years, the Transport Ticketing industry has offered some of the most significant advantages to medicine. Major players in the Transport Ticketing Market, including Accenture PLC (Ireland), CPI Card Group Inc. (US), Cubic Corp. (US), and Xerox Corp. (US), AEP Ticketing Solutions (Signa), Rambus Incorporated (US), and Infineon Technologies AG (Germany) and others, are attempting to increase market demand by investing in research and development operations.

Cubic Corporation is a private worldwide transportation and defence company. Cubic Transportation Systems (CTS) and Cubic Mission and Performance Solutions (CMPS) are its two business segments. Walter J. Zable started Cubic Corporation in 1949 as an electronics firm in San Diego, California, and it commenced operations in 1951. Zable came up with the company name because he wanted it to convey both engineering and accuracy. The company's first product was a calorimetric wattmeter, which was used to measure microwave power. In 1959, it became a publicly traded firm. In June 2022, Cubic Corporation reported that its Cubic Transportation Systems (CTS) business division in Queensland has reached a critical milestone with its new ticketing system. Translink users can now pay for travel on the Ferny Grove line of the passenger rail system using credit and debit cards as well as mobile devices.

Thales Group is a French multinational corporation that designs, develops, and manufactures electrical systems and gadgets for the aerospace, defence, transportation, and security industries. The company is based in the economic district of Paris, La Défense, and its stock is traded on the Euronext Paris exchange. In February 2023, The Dubai Roads and Transport Authority (RTA) has chosen Thales to offer a new smart ticketing system for the Dubai Metro and Dubai Tram. Thales' Optima fare collecting technology, which comprises contactless smart cards, mobile ticketing, and ticket vending machines, will be used in the new system.

Key Companies in the Transport Ticketing market include

  • HID (US)

  • Gemalto NV (Netherlands)

  • NXP Semiconductors (US)

  • Accenture PLC (Ireland)

  • CPI Card Group Inc. (US)

  • Cubic Corp. (US)

  • Xerox Corp. (US)

  • AEP Ticketing Solutions (Signa)

  • Rambus Incorporated (US)

  • Infineon Technologies AG (Germany)

Transport Ticketing Industry Developments

In April 2023, Cubic Corporation said that the Metropolitan Transportation Authority (MTA) had chosen it to provide a new fare payment system for New York City's subway, bus, and commuter rail systems. Cubic's Axon fare collecting technology, which incorporates contactless smart cards, mobile ticketing, and ticket vending machines, will be used in the new system.

In March 2023, Scheidt & Bachman stated that it had been granted a contract to provide the London Underground with a new smart ticketing system. The new system will be powered by the Scheidt & Bachman Aperio fare collecting technology, which incorporates contactless smart cards, mobile ticketing, and ticket vending machines.

Transport Ticketing Market Segmentation:

Transport Ticketing Market By Product Outlook

  • Ticket Machine

  • E-Ticket

  • E-Kiosk

  • E-Toll

Transport Ticketing Market By System Outlook

  • Smart Card

  • Smart Phone

Transport Ticketing Market By Application Outlook

  • Railways & Metros

  • Buses

  • Personal Vehicles

Transport Ticketing Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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