Industry Background:
Account-Based Ticketing is a ticketless way of allowing people to travel meaning they tap or scan using a secure token, linked to an account in the back office, to make a journey. The location and amount of taps calculates the fare that is deducted from the passengers’ account. This allows users cashless transactions and eliminated the need of physical ticketing thereby queue for collecting tickets. The developed countries like UK and US are spending more on contactless systems accounts for the vast majority of fare payment transactions.This growth is primarily driven by Increasing Digitalization and Growing Evolution of Contactless Technologies and Increasing Demand of Cutting-edge Ticketing Solutions to Reduce Issuing Physical Tickets and Increase Passengers’ Convenience.
Globally, a noticeable market trend is evident The Inclinations of Consumers towards the Tap & Ride and Use of Contactless Technologies. Major Players, such as Fujitsu (Japan), Apple, Inc. (United States), Samsung (South Korea), Amazon (United States), Scheidt & Bachmann (Germany), Masabi (United Kingdom), TixTrack, Inc. (United States), LIT Transit (Slovenia), Thales Group (France) and Ridango (Estonia) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In July 2020, ACT, a Fujitsu company launched ABT with Barcodes to enable transport scheme operators to offer passengers Account-Based Ticketing, without the need for complex infrastructure changes. The system allows passengers to get the best value fare and the ability to avoid using cash and multi-user touch screens in the ticketing process. It enables operators to offer the best value fares, without the cost of issuing or managing smart cards.
Market Drivers
- Increasing Digitalization and Growing Evolution of Contactless Technologies
- Increasing Demand of Cutting-edge Ticketing Solutions to Reduce Issuing Physical Tickets and Increase Passengers’ Convenience
Market Trend
- The Inclinations of Consumers towards the Tap & Ride and Use of Contactless Technologies
Restraints
- Slow Adoption in Underdeveloped Countries and in Rural Areas
Opportunities
Increasing Government Initiatives for the Use of Public Transportation
Challenges
Latency in Transaction Processing May Create Challenges
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Account Based Ticketing Study Sheds Light on
The Account Based Ticketing Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Account Based Ticketing industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Account Based Ticketing industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.