Market Research Future (MRFR), in its recently published research report, states that the global market is booming and expected to grow exponentially over the review period, recording a substantial market valuation of USD 4026 Million by 2022, at healthy 19% of CAGR over the forecast period of 2016 to 2022.
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Drivers and Restraints
The nascent penetration of smartphones is one of the factors driving the mobile ticketing market. Apart from this, the demands of instant ticket booking, digitization, and the emergence of the latest technologies are driving the mobile ticketing market. The study indicates that mobile ticketing has several advantages as less paperwork time, reducing the chance of errors and instant accessibility of information. It has been noted that these benefits of mobile ticketing are boosting the mobile ticketing market over the review period. The study reveals that the mobile ticketing market has a few restraints. one of the significant limitations is the lack of awareness regarding mobile ticketing. The study reveals that the proper internet connectivity is also one of the challenges faced by the mobile ticketing market. Moreover, the current security concerns regarding mobile payment are also a challenge faced by the mobile ticketing market.
The global market for mobile ticketing has been segmented on the basis of technology, application, type, and lastly, region. The application segment of this market consists of travel tickets, entertainment tickets, and others. Based on technology, the mobile ticketing market has been segmented into optical character recognition (OCR), 2D bar code, and the near field communication (NFC) technology. The 2D bar code has been further segmented into PDF 417 and QR code. Based on the type, the market has been segmented into mobile applications and SMS ticketing.
The geographical analysis of the global Mobile Ticketing Market has been conducted in four major regions, including North America, the Asia Pacific, Europe, and the rest of the world (Latin America, the Middle East, and Africa).
Over the forecast period, North America is expected to dominate the global market due to the higher penetration of mobile ticketing applications in the North American region. several key market players are also present in this region. The most crucial country-wise markets in this region are Canada and the US.
Europe is an essential regional market for mobile ticketing due to the early adoption of mobile ticketing. Some major market players of the global market are based in Europe too. The primary country-wise markets in this region are Germany, France, and the UK, followed by the other countries of Europe.
over the forecast period, the Asia Pacific regional market is poised to grow significantly owing to factors such as the advent of NFC and increasing advancements in mobility. India, China, and Japan are the lucrative economies of this region that can progress as lucrative markets in the near future.
The RoW segment comprises of the countries in the Middle East & Africa (MEA). In the MEA region, the market is gradually growing due to poor countries, lack of education, lack of skilled labor, lack of awareness, and lack of technological advancement.
The major market players operating in the global market as identified by MRFR are Ticketscript (Netherlands), Alliance Tickets (USA), Ace Ticket Worldwide (USA), Airtag (France), Helpshift (USA), Coast to Coast Tickets (USA), Masabi (UK), RazorGator (USA), Proxama (UK), StubHub (USA), and Zendesk (USA).
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