New Study Reports ” Mobile Ticketing In Transportation Market 2021, Global Key Players Analysis, Share, Trends, Growth Status, Revenue Expectation Forecasts 2030″ has been Added. In terms of revenue, global mobile ticketing in transportation market was valued at US$ 993.84 Mn in 2020 and is anticipated to grow at a CAGR of 18% over the forecast period. Some of the players operating in the mobile ticketing in transportation market are Bytemark, Inc., Corethree, Cubic Corporation, Famoco, Genfare, Giesecke+Devrient Mobile Security GmbH, Infineon Technologies AG, Margento B.V., Masabi Ltd, Mobisoft Infotech LLC, moovel Group GmbH., NTT DATA, Inc., Paragon Group Limited, PASSPORT LABS, Inc., PayiQ, Thales Group, Transdev and Trapeze Software ULC amongst others.
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This Mobile Ticketing in Transportation report helps you effortlessly figure out brand awareness and perception of your brand and product among potential customers of the industry. Few aspects are kept into view while formulating this global Mobile Ticketing in Transportation market report and include the market type, organization size, availability on-premises, end-users’ organization type, and the availability in areas such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. The report estimates 2021-2030 market development trends for industry. The Mobile Ticketing in Transportation report puts on view significant product developments and tracks recent acquisitions, mergers and research in the industry by the key players.
Important Features that are under offering & key highlights of the report:
- Detailed overview of Mobile Ticketing in Transportation market
- Changing market dynamics of the industry
- In-depth market segmentation by Type, Application etc
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of Mobile Ticketing in Transportation market
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards Mobile Ticketing in Transportation market performance
- Mobile Ticketing in Transportation Market player’s information to sustain and enhance their footprint
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Industry Trends
The growing number of urban dwellers has inflated the use of mass transit solutions to commute for work or leisure purposes, thus creating demand for mobile ticketing solutions for quick and seamless experience.
The rapid increase in worldwide population has led to high migration rates of people towards urban areas in the search of livelihood. United Nations Department of Economic and Social Affairs stated in press release of May 2018 that 68% of global population is expected live in urban settlements by 2050 which adds a total of 2.5 billion more people to the current number. Career prospects, diverse cultures and the amount of leisure activities offered by the urban areas are primarily attracting people. This growing number of people in cities is impacting transportation sector by creating tight crowds at ticket counters. The long queues and waiting time at ticket counters is creating resistance among people for public transit, thus creating demand for quick, personalized and remote ticketing solutions.
Mobile ticketing is assisting in creation of future-oriented public transport system. Mobile ticketing systems enable passengers to book, buy and verify transportation tickets using their mobile phone or any other connected device. Public transport operators achieve reduced boarding times and increased fare collection through 24/7 ticket sales, thus increasing their inclination towards the adoption of mobile ticketing. For instance, the public transport agency of Bucharest adopted mobile ticketing platform of Masabi Ltd., a mobile ticketing and payments solution provider from the U.K, in January 2020, which was developed in partnership with MasterCard and UniCredit. Thus, the demand for providing seamless transportation experience to the growing urban population is driving the growth of mobile ticketing in transportation market across the globe. Also, mobility-as-a-service providers such as Uber, Ola (ANI Technologies Pvt. Ltd.) and others are integrating mobile ticketing services in their current platforms, which is further driving the growth of global mobile ticketing in transportation market.
Digitization is increasingly being integrated into ecosystems due to growing penetration of internet connectivity and smartphone and tablet users. This growing number of digital natives is transforming the way commuters in public transportation plan their trips and buy tickets. A report of Federal Reserve Bank of Boston released in 2015, stated that more than half of transit riders in Portland and Dallas have smartphones whereas about three-quarters of Boston’s Massachusetts Bay Transportation Authority (MBTA) riders have smartphones. This high number of commuters powered by smartphones and other connected devices along with internet connectivity use them for mobile commerce for hassle free experience. This trend is encouraging transportation agencies to adopt mobile ticketing for providing customized experience to the riders and reduce their consumption of paper as an eco-friendly measure. Thus, growing number of internet and smartphone users is propelling the growth of global mobile ticketing in transportation market.
Developing as well as developed nations are undertaking smart city initiative to transform the urban infrastructure with use of digital and connected technologies to make cities more liveable. Transformation of public transport is a major aspect considered under these smart city initiatives to provide commuters a hassle free way to plan trips, book tickets and make payments for it. Under a smart city project, Mumbai’s public bus transport agency adopted mobile ticketing platform for its riders in February 2019. Using this app, commuters can book bus ticket and make payment. Many other cities in Europe including Cologne, Berlin, Oslo and others have also adopted mobile ticketing solutions for transportation under their smart city initiatives. This growing development in urban infrastructures is encouraging new partnerships in the market to provide novel mobile ticketing solutions. For instance, in June 2020, O-City, a smart city payment division of BPC, joined the Ready for Transit Program of Visa Inc. to provide digital transit fare collection through mobile phones or other wearable devices. Thus, growing number of smart city initiatives are revolutionizing public transportation and is creating demand in global mobile ticketing in transportation market.
The COVID-19 pandemic has created awareness for social distancing and contactless solutions and services amongst consumers to arrest the transmission of coronavirus. This awareness is contributing towards high use of mobile ticketing platforms as it eliminates the need to wait in crowded waiting queues at ticketing counters and also facilitates contactless payment and verification ticket. For instance, the Indian Central Railway stated in a press release of March 2020, that it witnessed an upsurge of 7% in the ticket booking through mobile ticketing platform. Thus, the growing healthcare awareness amidst recent COVID-19 pandemic outbreak is anticipated to positively affect the growth of global mobile ticketing in transportation market.
Global Mobile Ticketing in Transportation Market:
Mobile Ticketing in Transportation Market: By Technology
- Optical Character Recognition (OCR)
- Bar-code
- Near Field Communication (NFC)
- Bluetooth Low-Energy
- SMS-based
- Flash Pass/Visual Identification
Mobile Ticketing in Transportation Market: By Type
- App-based
- Android
- iOS
- Others
- Device-based
Mobile Ticketing in Transportation Market: By Organization Size
- Small and Medium Enterprises
- Large Enterprises
Mobile Ticketing in Transportation Market: By Application
- Air Tickets
- Bus Tickets
- Metro tickets
- Rail Ticket
- Others (Ferry, Tram, Etc.)
Mobile Ticketing in Transportation Market: By Geography
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Key Pointers Covered in Mobile Ticketing in Transportation Market Industry Trends and Forecast
- Mobile Ticketing in Transportation Market Size
- Mobile Ticketing in Transportation Market Standards and Changes
- Mobile Ticketing in Transportation Market Trials in Different Regions
- Mobile Ticketing in Transportation Market Requirements in Different Regions
- Mobile Ticketing in Transportation Market Shares in Different Regions
- Recent Developments for Market Competitors
- Recent Market Value for Different regions
- Sales Data for Market Competitors
- Key Vendors and Disruptors Study
- Supply Chain Competitiveness
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