This Contactless Ticketing market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Contactless Ticketing market.
Global Contactless Ticketing Market: Introduction
When it comes to the contactless ticketing, the two main options available are mobile NFC (Near Field Communication) and smart cards. Contactless cards are the ones customers are most aware of in contactless ticketing. In contactless ticketing, people just hold their card a few inches away from a reader, to securely authenticate or to pay for a passenger’s pass or ticket. Contactless ticketing solutions by a mobile NFC can store tickets on the mobile phone digitally, and the NFC-enabled mobile phone can be used as a contactless transport ticket. To top up, by using contactless ticketing a passenger has to just tap the mobile device on the NFC reader at the barrier or when boarding the bus or train. Many countries are already enjoying the benefits of near field communication technology by using contactless ticketing. Due to the increase in fraudulent activities and the need to provide secure services to customers, contactless ticketing providers are offering security-based solutions to fulfil this huge demand in the contactless ticketing market. The introduction of reliable and safe contactless ticketing has brought about a wide range of applications of contactless ticketing in different sectors. Contactless ticketing solutions can also be used for fare collection via mobile ticketing and tolls.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Contactless payments are fast-paced without the requirement of any password or pin to process the payment. Thus, these transactions are performed quickly without compromising on privacy or security. This is one of the major factors driving the growth of the contactless ticketing market. The increasing demand for mobile and web applications, and real-time information, are some of the major factors driving the growth of the contactless ticketing market. Faster and easier transactions by using contactless ticketing make the boarding of passengers’ smoother, and hence, is another factor anticipated to drive the growth of the contactless ticketing market during the forecast period. Moreover, the increased adoption of NFC payments is anticipated to foster the demand of the contactless ticketing market over the forecast period.
However, concerns regarding security and privacy have created lack of trust among the public, and the absence of a pin facility during the transaction in contactless ticketing further increases the concerns of customers. This is one of the key factors hampering the growth of the contactless ticketing market. Moreover, contactless ticketing cards are accepted at less locations as compared to magnetic striped cards, which is another factor restraining the growth of the contactless ticketing market.
Global Contactless Ticketing Market: Segmentation
The contactless ticketing market can be segmented on the basis of device type, vertical, and region.
Global Contactless Ticketing Market: Competition Landscape
Examples of some of the market participants in the global contactless ticketing market identified across the value chain include CPI Card Group Inc., Infineon Technologies AG, Proxama, PLC., Texas Instruments, Inc., Wirecard AG, NXP Semiconductors N.V., Atos SE, Giesecke & Devrient GmbH, American Express Company, and Oberthur Technologies S.A.
Global Contactless Ticketing Market: Regional Outlook
The contactless ticketing market can be segmented into North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa (MEA).
Growing economies such as China and Japan are set to be emerging regions in the contactless ticketing market in the coming years, due to increasing investments from their governments and companies providing complete automation ticketing services and systems. Europe is anticipated to lead the contactless ticketing market, followed by North America, during the forecast period, due to fast adoption of new technology in these regions. South Asia is estimated to significantly contribute to the contactless ticketing market, due to the growing demand for smart ticketing and automated systems from the developing countries in this region.
The report is a compilation of first-hand information, qualitative & quantitative assessment by industry analysts, as well as inputs from industry experts & industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Future Market Insights.
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The contactless ticketing market segmentation by device type,
- Smart Cards
- NFC Chips
- Mobile Handsets
The contactless ticketing market segmentation by vertical,
- Land Transport
- Air Transport
- Water Transport
- Media and Entertainment
The report covers exhaustive analysis on,
- Market Segments
- Market Dynamics
- Historical Actual Market Size, 2013-2017
- Market Size & Forecast, 2018 to 2028
- Value Chain
- Market Current Trends/Issues/Challenges
- Competition & Companies Involved
- Market Drivers and Restraints
Regional analysis for the global Contactless Ticketing market includes:
- North America Contactless Ticketing market
- U. S.
- Latin America Contactless Ticketing market
- Rest of Latin America
- Europe Contactless Ticketing market
- U. K.
- Rest of Western Europe
- East Asia Contactless Ticketing market
- South Korea
- South Asia Contactless Ticketing market
- Rest of South Asia
- Oceania Contactless Ticketing market
- New Zealand
- Middle East and Africa Contactless Ticketing market
- GCC Countries
- North Africa
- South Africa
- Rest of MEA
- Detailed overview of parent market
- Changing market dynamics of the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Contactless Ticketing Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Contactless Ticketing Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Contactless Ticketing Market report?
In addition to up-to-date market figures and customized of the Contactless Ticketing Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.