Global Contactless Ticketing ICs Market Overview:
Contactless Ticketing ICs are basically smart cards or devices having advanced IC technology. These Circuits are Comprised of modern connectivity technologies such as RFID, NFC, etc. With enhanced focus on digitization, smart cities, and technologically advanced infrastructure, such contactless ticketing ICs become more and more prominent. The emergence of the recent pandemic has also resulted in increasing demand for contactless solutions. Smart Cards enabled with Contactless Ticketing ICs offer greater convenience to the consumers, help reduce the congestion of people near ticketing counters, and leads to seamless efficient follow of the crowd. Geographically, Europe is expected to remain the biggest Contactless Ticketing ICs Market. Some of the players profiled in the study are Infineon Technologies AG (Germany), NXP Semiconductors N.V. (Netherlands), Texas Instruments, Inc. (United States), Atos SE (France), Giesecke & Devrient GmbH (Germany), Proxama, Plc (United Kingdom), CPI Card Group Inc. (United States), Oberthur Technologies S.A. (France), American Express Company (United States) and CardLogix (United States).
On the basis of geography, the market of Contactless Ticketing ICs has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. NFC will boost the Contactless Ticketing ICs market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use, the sub-segment i.e. Transportation will boost the Contactless Ticketing ICs market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offerings, the sub-segment i.e. Dual-Interface Module will boost the Contactless Ticketing ICs market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Rising Investments in Research and Development of New Improved Connectivity Technology
- Consumer Demand for Easy Convenient Solutions
- Recent Pandemic has Grown Consciousness and Demand for Contactless Services and Solutions
Influencing Trend
- Wearable and Smartphone Section is Growing Popularity
Restraints
- High Cost of Setting up Infrastructure Supporting Contactless Ticketing ICs
- The rise in Data Breach Incidents
Opportunities
- SmartPhone is a Major Segment which will Witness Exponential Rise in the Coming Years
- Integration of Blockchain Technology in Contactless Ticketing ICS
Challenges
- Shifting Preference of People from Paper Money and Paper Tickets to Digital Solutions
In 2020, Infineon Technologies AG, Germany based Semiconductor manufacturer announced the completion of the acquisition of United States-based semiconductor design and manufacturing company, Cypress Semiconductor Corporation. The two companies look to combine their synergies, enhance their semiconductor design, and expand their distribution network as well as product portfolio.
Although there are a Variety of Compliances needed for Smart Contactless Ticketing ICs, Major one of them are ISO/IEC Standard Compliances and FIPS 201 Compliant
Target Audience:
Contactless Ticketing ICs Manufacturers, Suppliers, and Distributors, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Analysts and Strategic Business Planners, Government Regulatory and Research Organizations, End-Use Industries and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Contactless Ticketing ICs market on the basis of product [Smart Phones, Smart Cards and Wearable Devices] , application [], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Contactless Ticketing ICs market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Contactless Ticketing ICs industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Eastcompeace Technology Co., Ltd. (China), Watchdata System Co. Ltd. (China) and Inteligensa (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Contactless Ticketing ICs market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.