The global smart ticketing market is anticipated to grow significantly at a CAGR of nearly 13.0% during the forecast period (2021-2027). The key companies operating in the industry are highly inclined towards the adoption of different growth strategies including capacity expansion, partnerships, mergers and acquisitions, geographical expansion, new product launch, and product innovation to remain competitive in the marketplace. For an instance, in February 2021, Infineon Technologies launched 40 nm SLC36/SLC37 security controller platforms with high-performance 32-bit ARM SecurCore SC300 dual-interface security chips.
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These crypto controller platforms provide better performance and flexibility for contactless payments, ticketing, and access applications. Further, in June 2020, NXP Semiconductors launched its MIFARE DESFire EV3 IC. It supports next-generation performance, improved security, and an effortless combination of mobile services for a new era of security & connectivity in smart city services. The new IC offers quicker, safer transactions that are contactless such as accessing offices or campuses, paying for parking, and utilizing other essential city services, all these are touch-free with new security features.
In October 2019, IDEMIA introduced Smart Metal Art, a metal payment card range fully suitable for contactless payments. This card was the outcome of the acquisition of X Core’s metal payment card business and associated patents. It was developed for the dual interface mass affluent market and certified by MasterCard, Visa, and Amex. Apart from this, in February 2021, HID Global acquired TSL UK Ltd, a global provider of RFID handheld readers. The expansion of the RFID component business with TSL readers provides HID Global with a one-stop-place for offering RFID hardware and integration tools.
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In February 2021, Conduent and Flowbird, a French company specializing in urban mobility payment methods, signed a 10-year contract with Comutitres and the transport authority Ile-de-France Mobilités to replace all Ile-de-France Mobilites’ bus and tram onboard ticketing platforms with next-generation technologies. In October 2020, Confidex launched two products focused on the automotive sector. The Heatwave family of UHF RFID tags provides efficient automated tracking of goods through the high-temperature phases of automotive products which include a flexible attachment for automotive paint shop processing and at the same time, the Heatwave Tough exhibits an exceptional performance on metallic surfaces. Such kinds of new launches and strategic partnerships and collaborations are expected to drive the market during the forecast period.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered- by component and by application.
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
- Competitive Landscape- Thales Group, NXP Semiconductors N.V., and Infineon Technologies AG, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Smart Ticketing Market – Segmentation
By Component
- Hardware
- Software
By Application
- Parking & Transportation
- Sports & Entertainment
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