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Global Mobile Ticketing in Transportation Market witness continuing growth

The global mobile ticketing in transportation market was valued at US$ 993.84 Mn in 2018 and is anticipated to witness a compound annual growth rate of 18% over the forecast period.

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Mobile ticketing solutions powered by digital payment solutions such as internet banking, mobile banking, mobile wallets, banking cards and others enable travelers to buy tickets on the go, thus driving the growth of mobile ticketing in transportation market. In a move to digitize the ticketing operation, First Group, a bus company in the U.K, adopted Corethree’s mobile ticketing solution in November 2019, which integrates Google Pay mobile wallet for the payment of ticket fare.

The recent outbreak of COVID-19 pandemic has created awareness for contactless services and solutions which is facilitated through mobile ticketing in transportation.

The secure and efficient functioning of NFC technology is fuelling its share in global mobile ticketing in transportation market.

North America held the highest market share in global mobile tickets solutions in transportation market in 2018. Asia Pacific is expected to register the highest growth rate over the period of next eight years owing to the transforming transit services to cater the needs of digitally oriented commuters.

Mobile tickets can be purchased via apps and SMS messaging, along with more traditional avenues like over the phone or through a vendor website. Next, the user chooses ‘mobile delivery’ for the delivery method. After the user provides a cell number, phone model and mobile carrier, the vendor sends an e-ticket. Depending on the mobile device and purchasing avenue, the ticket can be delivered through a traditional text message, a specific mobile application, MMS or WAP push notifications. The provision of the model number helps to determine whether to text and send an image barcode or alphanumeric code that is saved by the user as their digital ticket. The user then presents this message at the events admission where it is scanned, the record of the purchase is confirmed and the user is allowed access.

Some of the players operating in the mobile ticketing in transportation market are Bytemark, Inc., Corethree, Cubic Corporation, Famoco, Genfare, Giesecke+Devrient Mobile Security GmbH, Infineon Technologies AG, Margento B.V., Masabi Ltd, Mobisoft Infotech LLC, moovel Group GmbH., NTT DATA, Inc., Paragon Group Limited, PASSPORT LABS, Inc., PayiQ, Thales Group, Transdev and Trapeze Software ULC amongst others. (via absolute markets insights)

 

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