Europe Smart Ticketing Market to Grow at 14% until 2024

Rising travel and tourism coupled with digitization of public transit are propelling Europe smart ticketing market

According to TechSci Research report, “Europe Smart Ticketing Market By Offering, By Application, By Connectivity, By Country, Competition, Forecast & Opportunities, 2024”, Europe smart ticketing market is forecast to witness a CAGR of 14% during 2019 – 2024 on account of rapidly growing European tourism industry, simplified technology ecosystem and the requirement for innovation of more advanced ticketing systems, especially across urban areas. Moreover, the European governments are shifting their focus towards the digitization of the public transit and sustainable transport policies, thereby boosting the adoption of smart ticketing by European land transportation industry, which is anticipated to drive the market growth in the years to come.

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In terms of application, the Europe smart ticketing market is fragmented into transportation and sports & entertainment segments. Among them, the sports & entertainment sector is expected to grow at a higher rate over the next five years owing to extensive use of smart ticketing in sports and entertainment for effortless, convenient and secure bulk ticketing. Apart from this, smart ticketing option is anticipated to reduce fraudulent activities such as reselling of tickets outside the stadium at an excessively high price, which is projected to boost the growth of this segment over the coming years.

Based on connectivity, NFC is expected to witness highest  growth in the coming years on account of rising adoption of NFC equipped smartphones, which has resulted in introduction of necessary infrastructure for smart ticketing across various end use segments. Infineon Technologies AG, Giesecke+Devrient GmbH, Gemalto (Thales Group), NXP Semiconductors, Cubic Corporation, Inside Secure, Indra Sistemas, Masabi Ltd, Confidex Ltd., etc., are some of the leading players operating in Europe smart ticketing market.

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“The European smart ticketing market is growing rapidly due to the presence of leading smart ticketing solution vendors such as Infineon Technologies, Gemalto and Giesecke+Devrient that are focusing on increasing their geographical presence through integrated payment solutions by entering into partnerships with smart ticket technology developers and operators. In addition to this, these major market players are deploying big data analytics and connected devices to track passenger travel patterns to provide customized products and services, which is projected to spur the market growth in the region through 2024.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Europe Smart Ticketing Market By Offering, By Application, By Connectivity, By Country, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of Europe smart ticketing market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Europe smart ticketing market.

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