Market Analysis
Market Research Future (MRFR) projects the global mobile ticketing market to exceed USD 7.2 billion at a CAGR of 17.7% from 2020 to 2030 (forecast period).
Mobile ticketing is a new addition to the ticket booking online system. Mobile ticketing makes it easy to book transportation tickets (such as trains, buses, and airplanes) as well as entertainment tickets to play zones, movies, theatres, and comedy acts online. The ticket is now available on our phones with a few clicks, which saves paper. The mobile ticketing market has grown in popularity because of its low production costs, ease of use, lower distribution costs, and enhanced customer convenience. Smartphones and smart handheld devices have been the most important factors in driving demand for the Mobile Ticketing Market Forecast.
Because of reduced paperwork, the mobile ticketing company has grown as a result of digitalization, digitization, fast ticket booking, online payment, and interactive interfaces. The primary advantages of the mobile ticketing system are instant access to information and QR tickets, less human error, and so on.
COVID-19 Impact on the Global Mobile Ticketing Market
The outbreak of the COVID-19 pandemic brought the globe to a halt. A virus that began in a flea market in Wuhan, China, put the entire world under lockdown, affecting the industrial market growth. The IT sector is expected to have a mixed impact as a result of the virus's widespread outbreak and propagation around the world. Mobile ticketing is projected to have a favorable impact in different industries such as transportation, hotel bookings, and so on throughout the years 2021-2022. Mobile ticketing is more popular now because contact-free options are available, as paper-based ticketing was hazardous during the outbreak.
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Market Segmentation
The global mobile ticketing market has been segmented into type, technology, application, and vertical.
By type, the global mobile ticketing market has been segmented into SMS ticketing and mobile applications.
By technology, the global mobile ticketing market has been segmented into Bar-code, Optical Character Recognition (OCR), and Near Field Communication (NFC). NFC is anticipated to register maximum growth in the upcoming years.
By application, the global mobile ticketing market has been segmented into hospitality (booking hotels, motels, guest houses, etc.), transportation (flights, roadways, railways), sports (FIFA, cricket, badminton, tennis matches, etc.), and entertainment.
By vertical, the global mobile ticketing market has been segmented into users and suppliers.
Regional Analysis
Region-wise, the global mobile ticketing market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
According to the most recent market study on the worldwide mobile ticketing market, North America is the market leader. European countries such as Germany, France, Italy, Belgium, and others have seen a rapid market expansion in the mobile ticketing industry. Because Europe was the first market to introduce concert ticketing online booking via mobile ticketing, it paved the way for global mobile ticketing in the entertainment industry. With growing improvements in the smartphone industry, the Asia Pacific regions of China, Japan, India, Australia, and others have emerged as the largest market holders in the Asian region.
Key Players
The prominent market players in the field of mobile ticketing market are Infineon Technologies (Germany), Cubic Corporation (US), Rambus (US), Vix Technology (Australia), Confidex (Finland), Giesecke Devrient (Germany), HID Global (US), Inside Secure (France), Gemalto (Netherlands), Indra Sistemas (Spain), City way (France), StubHub (US), Paragon ID (France), Masabi (UK), CGI Group (Canada), Scheidt & Bachmann (Germany), Softjourn (US), Xminnov (China), Smart Card IT Solutions (India), Zendesk (US), Coast to Coast Tickets (US), Alliance Tickets (US), Helpshift (US), Proxama (UK), Airbag (France), RazorGator (US), Ace Ticket WorldWide (US), and many more.
Summary
The global mobile ticketing market is predicted to exceed USD 4000 million at a CAGR of 19% from 2016 to 2022 (forecast period). Due to reduced paperwork, the mobile ticketing company has grown as a result of digitalization, digitization, fast ticket booking, online payment, and interactive interfaces. The major benefits of the mobile ticketing system are immediate access to information & QR tickets and less human error.
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Mobile Ticketing Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030
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