Smart Ticketing Market Size, Share, Growth Analysis, By Component(Hardware, Software, Service), By System(Open Payment System, Smart Card, Near-Field Communication), By Region - Industry Forecast 2024-2031

Global Smart Ticketing Market size was valued at USD 10.15 billion in 2022 and is poised to grow from USD 11.72 billion in 2023 to USD 37.13 billion by 2031, growing at a CAGR of 15.50% during the forecast period (2024-2031).

The increased integration of developing technologies is the main reason driving the growth in the adoption of smart ticketing solutions. Smooth and effective transport is made possible by the advent of cutting-edge ticketing and payment methods such contactless payment systems, virtual tickets and smart cards.

Additionally, the availability of multi-modal distribution channels through online ticketing systems, smartphones, E-kiosks, and smart ticketing machines is enhancing efficient crowd control. Additionally, shifting consumer preferences for using digital channels to receive transportation services are fuelling industry expansion. Customers are drawn to online ticketing systems by a number of benefits, including shorter wait times compared to standing in queue during rush hour, discounted fares, real-time route updates, and a more tailored mobility experience. The benefits of smart ticketing solutions for transport operators also include decreased maintenance costs, accessibility to an integrated ticketing infrastructure, and cost-effective use of resources including staff, energy, and paper.

As a result, it is anticipated that use of smart ticketing systems would increase over the projected period, assisting in the expansion of the market as a whole. Smart ticketing solutions are becoming more popular not only for use in transport operations, but also for the sporting and entertainment industries, which need tickets for events. When linked with self-service kiosks and POS systems, smart ticketing systems provide scalability. Additionally, real-time customer data is made available through smart ticketing systems, which significantly enhances customer interaction.

For instance, Major League Soccer chose Ticketmaster as its official ticketing partner in March 2023 as part of a multi-year deal that aims to personalise the entire consumer experience using next-generation interactive features, like 3D stadium views. The market's expansion is also being fueled by the capacity to use technology to link to numerous smart & connected devices and offer a unified experience.

US Smart Ticketing Market is poised to grow at a sustainable CAGR for the next forecast year.