About Mobile Ticketing Market in the Transportation Sector
Mobile ticketing is an initiative to enhance the role of mobile phones in ticketing services. The use of mobile phones enables consumers to buy tickets and carry the tickets within the phone’s secure universal integrated circuit card. This works as an alternative to the traditional electronic card-based tickets and provides additional functionality and convenience to end-users. Mobile ticketing apps provide varied options to service providers, as ticketing agencies are able to bring value-added services such as traveler guides to the market.
Technavio’s analysts forecast the global mobile ticketing market in the transportation sector to grow at a CAGR of 16.71% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global mobile ticketing market in the transportation sector for 2017-2021. To calculate the market size, the report considers the revenue generated from transportation (airline, railway, and public transit) applications of mobile ticketing provided by vendors.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Mobile Ticketing Market in the Transportation Sector 2017-2021
Technavio recognizes the following companies as the key players in the global mobile ticketing market in the transportation sector: Corethree, Gemalto, Masabi, and moovel.
Other Prominent Vendors in the market are: Bizzabo, eos.uptrade, Margento, Open Mobile Ticketing Alliance, StubHub, and TickPick.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is emergence of mobile wallets. The increased adoption of mobile devices and the rising popularity of m-commerce are driving the growth of the mobile ticketing market in transportation sector. More customers are using tablets or smartphones to shop online. This trend will continue as mobile devices are becoming more user-friendly and feature-rich. Retailers have invested in developing smartphone applications to tap into the m-commerce market. Smartphones are increasingly being used for web surfing, making reservations, online payments, and online shopping. This has created the necessity for e-commerce solutions that integrate mobile devices with other sales channels.”
According to the report, one driver in market is availability of multimodal ticketing platforms. With the increasing mobility, multimodal transport platforms are growing, and passengers are expecting more convenient ticketing options. Airlines have already incorporated mobile boarding passes and used mobile ticketing including NFC-enabled ticketing services on smartphones. Bus and railways operators have also started to familiarize with NFC-enabled mobile ticketing services and digital multimodal mobility assistant (DMMA). The major trigger for this trend is the acceptance of smartphones with NFC-embedded chips. By 2018, we expect a rapid rise of NFC mobile ticketing applications, which will replace paper-based tickets and contactless card solutions. Operators, who have already implemented contactless card platform such as smart city cards are migrating toward mobile ticketing services that enable passengers to book and validate tickets quickly. The major benefits for customers are reduced queuing time, access to adjacent service, and richer travel experience. DMMAs are all inclusive intermodal platforms that function on mobile ticketing. These systems are representing the over-system for mobile ticketing services among transport operators.
Further, the report states that one challenge in market is privacy and security concerns over mobile ticketing solutions. Data privacy and security risks hinder the adoption of mobile ticketing solutions. Data collected through connected devices need to be stored on a secured database and storage systems to protect the data from cyber attacks. Data security concerns remain a major challenge for organizations due to the presence of many connected devices and the use of private and public networks, as critical data require highly secured environment for transferring over the network. Also, this network involves many connected devices and may lead to interoperability issues. At times, these issues can result in a lack of security, causing operational and financial problems for an organization. Therefore, manufacturers and vendors offering mobile ticketing solutions should ensure optimum levels of data privacy and security measures such as two-factor authentication systems. In addition, they need to adhere to the transportation regulations and compliance while manufacturing and delivering mobile ticketing devices.
Corethree, Gemalto, Masabi, moovel, Bizzabo, eos.uptrade, Margento, Open Mobile Ticketing Alliance, StubHub, TickPick.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook