The Europe Smart Ticketing Market would witness market growth of 14.7% CAGR during the forecast period (2021-2027).
There are many actual examples of how installing smart ticketing solutions would be better from any associated company than how they presently provide paper tickets. Some of these are because of positive personal experiences and others are due to the frustrations or problems with the existing traditional ticketing solutions. One of the major benefits of smart ticketing solutions is it eliminates the need to interact with staff to buy tickets. As smart ticketing enables passengers to buy tickets with a click on their smartphone, it offers a superior buying experience. In addition to it, smart ticketing streamlines the whole process of buying tickets as it manages purchases and renewals without queues.
Moreover, smart ticketing helps in budgeting by enabling the purchase of a ticket for travel in advance. Along with this, smart ticketing solutions are easy, safe, and user-friendly. These features of smart ticketing would help its market to grow further. Further, smart ticketing solutions provide an easy method of accessing and monitoring all the journeys made in the past in order to claim expenses. Furthermore, there is a belief that adopting smart tickets can provide extra security to passengers. For instance, if a smartcard is lost or stolen, it can simply be cancelled and the ticket or credit returned. These factors are acting as the catalysts for the growth of the smart ticketing market.
The Germany market dominated the Europe Railways Smart Ticketing Market by Country 2020, thereby, achieving a market value of $345.8 million by 2027. The UK market is exhibiting a CAGR of 13.8% during (2021 - 2027). Additionally, The France market is anticipated to witness a CAGR of 15.5% during (2021 - 2027).
Based on Component, the market is segmented into Hardware, Software and Services. Based on Application, the market is segmented into Parking & Transportation and Sports & Entertainment. Parking & Transportation Type is further bifurcated across Roadways, Railways and Airways & Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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.
Scope of the Study
Market Segments covered in the Report:
• Parking & Transportation
o Airways & Others
• Sports & Entertainment
• Rest of Europe
• 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
• Confidex Ltd.
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