Industry Background:
Mobile ticketing in transportation is for passengers who can buy and access mobile tickets using their smartphones or another connected device. With the increasing digitalization and printing of tickets has become easier. It is done for ensuring effortless ticket purchases and easy access and allows public transportation providers in reducing the cost of ticket printing. It is also saving time as now agencies and operators are easily deploying mobile ticketing on time through mails and software soltions.
According to AMA Research, the market for Mobile Ticketing in Transportation is expected to register a CAGR of 19.7% during the forecast period to 2030. This growth is primarily driven by Growing Digitalization and Usage of Mobile Devices
.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Internet Software & Services sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Thales Group (Gemalto) (France), Infineon Technologies AG (Germany), Corethree Ltd (United Kingdom), Masabi (Blue Technologies Ltd.) (United Kingdom), moovel GmbH (United States), Margento (United States), Giesecke+Devrient (Germany) and Paragon ID (France), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 22nd June 2020, Strategic Mapping, a Toronto-based provider of Intelligent Transportation Systems (ITS), announced that it acquired moovel North America, a Portland-based leader of mobile ticketing solutions, to combine their transit portfolio to simplify travel in cities. moovel North America originated from the acquisition and merger of two start-ups, RideScout, based in Austin, one of the first companies to offer trip planning for a variety of mobility options—including transit, rideshare, and bikeshare—all in one app; and Portland-based GlobeSherpa, an industry leader in mobile ticketing solutions for public transit.
On 2nd December 2020, The Regional Transportation District (RTD), Lyft, and Masabi launch mobile ticketing for public transit, making customers in the Denver metro region the first to be able to purchase RTD fares through the Lyft app to ride the agency’s buses and trains. The metro region has been an area of historic firsts for Lyft, including the launch of Lyft Scooters in 2018.The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to the outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time.
Influencing Trend:
Emerging Smart Public Transporation and Advancement in Transit Technology and Increasing Use of Contactless EMV Technology for Mobile Ticketing in Transportation
Market Growth Drivers:
Growing Digitalization and Usage of Mobile Devices and Demand for Automation in Ticket Distribution and Printing
Challenges:
Unawareness about the Usage of Mobile Ticketing in Transportation in Rural Areas
Restraints:
Stringent Regulatory Compliances with the Mobile Ticketing in Transportation
Opportunities:
Easy Deployment of Software Solution for Mobile Ticketing in Transportation and Adoption of Mobile Ticketing in Transportation Around the Developing Nations
AMA Research follows 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 mainly 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 showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Mobile Ticketing in Transportation Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Mobile Ticketing in Transportation Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Mobile Ticketing in Transportation players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes 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, Mobile Ticketing in Transportation Study Sheds Light on
The Mobile Ticketing in Transportation Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Mobile Ticketing in Transportation industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Mobile Ticketing in Transportation industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, 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 the value they currently claim or capture the new addressable opportunity.