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Contactless Ticketing Market

Contactless Ticketing Market By Device Type (Smart Cards, NFC Chips, Mobile Handsets), Vertical (Transportation [Land Transport, Air Transport, Water Transport], Media and Entertainment) & Region - Forecast 2022-2032

Market Insights on Contactless Ticketing covering sales outlook, demand forecast & up-to-date key trends

Contactless Ticketing Market Overview

The global contactless ticketing market size is expected to be valued at US$ 9.4 Billion in 2022 and US$ 17.3 Billion in 2032. It is projected to showcase remarkable growth at a CAGR of 13.9% in the forecast period from 2022 to 2032. The rising demand for contactless ticketing from tourism, entertainment, and sports industries is anticipated to drive the growth in the near future.  

Report Attribute

Details

Contactless Ticketing Market Estimated Base Year Value (2021)

US$ 8.1 Billion

Contactless Ticketing Market Expected Market Value (2022)

US$ 9.4 Billion

Contactless Ticketing Market Anticipated Forecast Value (2032)

US$ 17.3 Billion

Contactless Ticketing Market Projected Growth Rate (2022-2032)

13.9% CAGR

Contactless ticketing is unconventional to the traditional cardboard or paper ticket for public transport. It can electronically store a ticket on a microchip and allow seamless payment and transportation services for customers.

The increasing demand for contactless ticketing systems from concerts, stadiums, and similar other places that frequently organize events is anticipated to bolster the market. Event management companies often face various issues, such as lack of uniform refund mechanism, frauds, incomplete sales of tickets, and false tickets.

Many times, tickets of big events are purchased in mass by bot networks in the secondary market. These are then sold at an exorbitant price to customers either online or offline. Security issues may also come up as event organizers are unaware of the identity of visitors.

Contactless smart ticketing systems would enable event management companies to set specific norms for crypto-tickets, such as resales, refunds, exchange, and costs. Customers at the same time, can be assured that their tickets are not used by other people or are not fake.

Which are Some Prominent Drivers Spearheading Contactless Ticketing Market Growth?

In industries, such as entertainment, transit, and sports, contactless ticketing is gradually emerging as a cutting-edge system. These tickets are considered to be an efficient and affordable way for passengers to manage their travel via public transportation. They can easily pre-load credits into their tickets for traveling in future. They can also transfer or recover money from another ticketing system if their contactless ticket is lost or stolen.

In addition to that, the increasing adoption of various advanced technologies in tourism and travel businesses, such as Artificial Intelligence (AI), variables, virtual philanthropy, and smart cards is expected to boost the sales of contactless ticketing systems in both developed and developing countries. Transportation authorities in countries, such as Asia Pacific and Europe are anticipated to launch ambitious schemes, including smart ticketing systems to expand their tourism industry.

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What are the Challenges Faced by the Contactless Ticketing Industry?

The deployment of contactless ticketing systems in the public transportation network requires the engagement of multiple stakeholders, such as user groups, service providers, infrastructure suppliers, the public sector, and component manufacturers. It thus leads to the development of a complicated structure, which demands for a vital financial commitment.

Besides, rising concerns of security and safety risks associated with the usage of this type of ticketing system may hinder the global contactless ticketing market growth in the evaluation period. A few credentials, including secret cryptographic keys for authentication purposes are required to avail tickets. When these credentials are stored in mobile devices that lack security, hackers can try to break in the system and steal the confidential data.

Why is Europe Emerging as an Opportunistic Contactless Ticketing Market?

Europe is expected to remain at the forefront in terms of the contactless ticketing market share in the upcoming years. This growth is mainly attributable to the presence of a large number of renowned vendors, such as Giesecke+Devrient, Gemalto, and Infineon Technologies across the region. These companies are striving to broaden their presence in untapped areas by providing integrated payment solutions through collaborations with contactless ticketing system companies.

The rising demand for smart ticketing services in Germany owing to the rapid expansion of the tourism sector is a major factor that is likely to bode well for the market. The ongoing adoption of novel technologies, such as barcode, QR code, NFC, and RFID in the U.K. is another factor that is estimated to propel the Europe market in future.

Nikhil Kaitwade
Principal Consultant
LinkedIn
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How is Asia Pacific Contributing to Growth of the Contactless Ticketing Market?

Rapid urbanization and economic growth in developing countries, such as India, China, Malaysia, Thailand, and Indonesia are set to augment the Asia Pacific contactless ticketing market growth in the forthcoming years. The ever-increasing population in these countries is another factor that is projected to drive the demand for innovative ticketing systems.

The rising emphasis of key players on the development of interoperable and advanced automated fare collection systems, such as NFC-enabled devices and smart cards across Asia Pacific to surge both the efficiency of ridership and transportation systems is also projected to augur well for the market. Many vendors are trying to provide commuters with a smooth travel experience in this region, which is set to positively influence the market.

Market Competition

Some of the leading players present in the global contactless ticketing market include Wirecard AG, CPI Card Group Inc., Atos SE, NXP Semiconductors N.V., Infineon Technologies AG, Giesecke & Devrient GmbH, Proxama PLC., Oberthur Technologies S.A., Texas Instruments, Inc., and American Express Company among others.

The global market is moderately fragmented with the presence of a few renowned companies. New firms are expected to enter this market with the rising initiatives taken by governments to support key players. Majority of the leading players are focusing on acquisitions and collaborations to stay ahead of the competition. Meanwhile, a handful of companies are aiming to invest huge sums in research and development activities to launch novel products in the market.

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Scope of Report

Report Attribute

Details

Growth Rate

CAGR of 13.9% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • Device Type
  • Vertical
  • Region

Regions Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Argentina
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Nordics
  • BENELUX
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Companies Profiled

  • Wirecard AG
  • CPI Card Group Inc.
  • Atos SE
  • NXP Semiconductors N.V.
  • Infineon Technologies AG
  • Giesecke & Devrient GmbH
  • Proxama PLC.
  • Oberthur Technologies S.A.
  • Texas Instruments, Inc.
  • American Express Company

Customization

Available Upon Request

Key Segments Profiled in the Contactless Ticketing Industry Survey

By Device Type:

  • Smart Cards
  • NFC Chips
  • Mobile Handsets
  • Others

By Vertical:

  • Transportation
  • Land Transport
  • Air Transport
  • Water Transport
  • Media and Entertainment
  • Others

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Frequently Asked Questions

The global contactless ticketing market is expected to surpass US$ 17.3 Billion in 2032.

Europe is likely to dominate the contactless ticketing market in the forecast period.

Wirecard AG, CPI Card Group Inc., Atos SE, NXP Semiconductors N.V., Infineon Technologies AG, Giesecke & Devrient GmbH, and Proxama PLC. are some of the prominent companies in the contactless ticketing market.

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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Contactless Ticketing Market