Transport Ticketing Market, By Product (Ticket Machine, E-Ticket, E-Kiosk, E-Toll), By System (Smart Card, Smart Phone), By Application (Railways & Metros, Buses, Personal Vehicles) – Forecast 2023
AEP Ticketing Solutions is one of the major player in transport ticketing market is focusing on possessing technologies. It provides Contactless and magnetic technologies developed internally in compliance with standards. Infineon technologies offers dedicated transport ticketing products such as low-end limited-use tickets (LUTs), security-certified multi-application ICs, dual-interface solutions providing upgradability to EMV contactless deployments and embedded secure elements for NFC-enabled mobile phones. Cubic Corp. is about to demonstrate mobility innovation at Transport Ticketing & passenger information.
Rapid growth in sales of commercial vehicles, increasing number of travelers, boosting tourism industry and rising number metro cities worldwide are some of the major factors driving the transport ticketing market. Government initiatives towards controlling traffic congestion and reducing paper based tickets is one of the important factor driving the market. The rising population in city and urbanization are one of the significant factors driving the market growth. Government initiatives in emerging economies such as India and China is boosting the market. The increasing urbanization of rural areas and to connect remote areas to metropolitan networks is undertaken on large scale for effective transportation and customers safety is one of the key factor driving growth. The internet protocol (IP) technology in surveillance cameras will drive the growth of the surveillance camera in transport ticketing market.
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The segmentation on the basis of includes software and hardware. The hardware segment includes sensors, surveillance cameras and others. Surveillance cameras in urban areas have mixed results in preventing crime. The installation of surveillance cameras to reduce crime is an effective use of scarce resources, especially with states struggling with soaring budget deficits. The product segment is further bifurcated into e-toll, e-ticket, parking system, request tracker, e-kiosk and others. Out of these, the e-kiosk segment is expected to grow at the highest CAGR during the forecast period. It helps in reducing the manual operations and hence proves to be very efficient during peak hours.
According to Market Research Future Analysis, Transport Ticketing Market has been valued at approximately USD 11 Billion by the end of forecast period with approx. 10% of CAGR during forecast period 2019 to 2023.
- Investors and consultants
- System Integrators
- Government Organizations
- Research/Consultancy firms
- Technology solution providers
- Original Equipment Manufacturers
- Original Design Manufacturers
- Installers and Maintenance Service Providers
Market Research Future (MRFR) recognizes the following companies as the key players in the transport ticketing market are- HID (U.S.), Gemalto NV (Netherlands), NXP Semiconductors (U.S.), Accenture Plc (Ireland), CPI Card Group Inc. (U.S.), Cubic Corp. (U.S.), Xerox Corp. (U.S.), AEP Ticketing Solutions (Signa), Rambus Incorporated (U.S.), Infineon Technologies AG (Germany) among others.
Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:
By hardware segment, transport ticketing market consists of sensors, surveillance cameras sensors and others. Sensors can measure speed, height, length, and vehicle spacing, thereby providing users with information needed to classify vehicle types, compile vehicle quantities, and determine traffic density based on speed and spacing. There is an increased adoption of wireless sensors in regulating air traffic volume, trains and in reducing passenger and commercials vehicles traffic congestion.
By region, MRFR analysis shows that North America region accounts for largest market share intransport ticketing market owing to growing adoption of smart ticketing solutions and the region is concentrating more on the project of smart cities and smart roads development. The implementation of transport ticketing technology by government is increasing rapidly due to increased traffic congestion and urbanization. The investment done by government towards smart cities development, smart lighting and better control and management of traffic rules is increasing in the region. Asia-Pacific region is expected to be one of the fastest market owing to huge investment made by government in reducing traffic congestion, air traffic volume and reduce manual data records.
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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
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 (%)
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