Market Overview
The Global Mobile Ticketing Market trends suggest that the market will generate a revenue of more than $7.2 billion dollars during the ongoing forecast period. The global market trends are expected to forecast a CAGR of 17.7% by the end of the current period.
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Online facility to book transportation tickets, entertainment tickets to play zones, movies, theatre, comedy shows, etc., is made easier with mobile ticketing. With a few clicks, the key is available on our phones, which helps in paper saving. The low cost of production, and other benefits like easy enabling, lesser distribution cost, and more customer convenience have increased the global market demand. Smartphones and smart handheld devices are the most significant factors that boosted the need for global market operations.
The world functions became standstill on the outburst of the COVID-19 pandemic. A virus from Wuhan, China, made the world go under lockdown, impacting the industrial market growth. Due to the extensive outbreak and spread of the virus globally, the IT sector is anticipated to have a mixed impact. During 2021-2022 mobile ticketing is expected to positively affect various sectors like transportation, hotel bookings, etc. Mobile ticketing is preferred as the contact-free services have been taken into practice as the paper-based ticketing was riskier at the time of the outbreak.
Digitalization, instant ticket booking, online payment, and interactive interfaces have led the Mobile Ticketing business to grow due to reduced paperwork.
Market Segmentation
By type:
The global mobile ticketing market is segmented by SMS ticketing and mobile applications. In the form of hardware, mobile ticketing offers help in the form of validators, readers, ticketing machines, wearables, mobile ticketing terminals, and smart cards. Other software services are mobile apps used in different fields, i.e., transportation, entertainment, hospitality, etc.
By technology:
Technology's global mobile ticketing market has Bar-code, Optical Character Recognition (OCR), and Near Field Communication (NFC).
By Application:
The global mobile ticketing market is segmented by application as hospitality, transportation, sports, and entertainment.
By Vertical:
The global mobile ticketing market is segmented by vertical as users and suppliers.
Regional Analysis
Europe, North America, Asia-Pacific, and the Rest of the World are the primary four regions on which global mobile ticketing marketing is segmented. The North American region is the market dominant as analyzed by the latest market report of the global mobile ticketing industry. Since Europe was the first region are increasing their participation where concert ticketing online booking through mobile ticketing started, it gave rise to global mobile ticketing in the entertainment industry. Asia-Pacific areas in China, Japan, India, Australia, and many more have emerged as the most significant market holder in the Asian region with increased advancements in the smartphone industry.
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In 2017, Cubic Transportation had designed a multimodal platform in Cubic Next Bus for transit agencies, users, suppliers, operators, and authorities to book tickets quickly. It functioned on Transit Management as a Service (TMaaS) cloud computing architecture combined with artificial intelligence and machine learning for interactive mobile experience for the operators and users.
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