Transport Ticketing Market is to grow at a CAGR of 10% by Forecast to 2023
Infineon technologies is one of the leading player in transport ticketing market and has designed 5 billion ICs that offers comprehensive portfolio of chip solutions based on open standards. 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. Rambus Incorporated a prominent player in transport ticketing market has come up with a host card emulation transport ticketing solution that offers smart ticketing solution, HCE also allows passengers to top-up value, purchase and load tickets and view the contents of their HCE wallet, which can be accessed even if a smartphone is offline. Accenture Plc a key player in transport ticketing market offers tickets solutions that offers adaptable solution and pay per use model. It provides operators with the ability to quickly change fares, create new products, deploy new customer channels or enable new types of fare media without incurring significant costs. It can integrate with any fare device vendor and accept all forms of contactless media
North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in transport ticketing market in North America is attributed to the technical advancements and increasing use of mobiles devices in that region.
Major factors driving the growth of Transport Ticketing Market is the affordable access to smart transit systems. Rapid adoption of smart technologies and increasing implementations of smart ticketing are other factors driving the growth of transport ticketing market. The transport ticketing market has been segmented on the basis of product, system and application. 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. Ticket machine is the oldest form of smart ticketing and helps in maintaining and managing flow of passengers during peak hours. Hence it is expected to hold the largest market share in the product segment, during the forecast period.
The transport ticketing market is expected to grow at approximately USD 11 Billion by 2023, at 10% of CAGR between 2017 and 2023.
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Major Key Players:
• 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)
Transport ticketing market for segment on the basis of product, system, and application
Transport Ticketing Market by Product:
• Ticket Machine
Transport Ticketing Market by System:
• Smart Card
• Smart Phone
Transport Ticketing Market by Application:
• Railways & Metros
• Personal Vehicles
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• Investors and consultants
• System Integrators
• Government Organizations
• Research/Consultancy firms
• Technology solution providers
• Original Equipment Manufacturers
• Original Design Manufacturers
• Installers and Maintenance Service Providers
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