According to a new report Global Smart Ticketing Market, published by KBV research, The Global Smart Ticketing Market size is expected to reach $21.1 billion by 2027, rising at a market growth of 15.6% CAGR during the forecast period.
On the basis of components, the market has been bifurcated into hardware, software, and service. The software segment would show a substantial growth rate during the forecast period. The smart card software is broadly utilized for managing smart cards or smart media lifecycle and applications. With the help of this software, customer interactions can be automated with customer service representatives, which subsequently assist in efficiently addressing customer problems.
The sports and entertainment segment would appear as the promising end-use segment in the smart ticketing market throughout the forecast period. In the sports industry, several event organizers aim to enhance the ticketing experience of attendees by providing comfortable and easy options. Smart ticketing solutions assist in decreasing in the cash flow and waiting time of customers outside the stadiums. Therefore, these ticketing solutions are increasingly adopted in the sports industry.
Europe emerged as the leading region in the global market in 2020. European governments aim at sustainable transport policies and the digitization of public transit. The existence of leading market players like Giesecke & Devrient GmbH, Gemalto NV, and Infineon Technologies AG in the region would fuel the growth of the regional market. Smart ticketing solutions companies are motivated by technological developments to deploy new technologies like bar code, QR code, and NFC. This would eventually lead to higher adoption of these ticketing solutions.
Full Report: https://www.kbvresearch.com/smart-ticketing-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Siemens AG, Thales Group S.A., NXP Semiconductors N.V., Infineon Technologies AG, Hitachi, Ltd., IDEMIA SAS (Advent International, Inc.), Assa Abloy AB, Giesecke & Devrient GmbH, Atsuke, and Confidex Ltd.
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