E-Ticketing System Market Size, Share, Growth, and Industry Growth, By Type (Ticket Management and Financial Stat), By Application (Aviation, Scenic Spot, Railway, and Others), Regional Insights, and Forecast From 2023 to 2031

Updated On: 20 November 2023

E-Ticketing System Market REPORT OVERVIEW

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The global e-ticketing system market size is expanded rapidly in 2021 and market is expected to generate substantial revenue by 2031, exhibiting a high compound annual growth rate (CAGR) from 2021 to 2031.

Ticket reservations done online with the help of a system is known as an e-ticketing system. It plays a significant role in the sports, transportation, and entertainment sectors. This system saves time, offers the best possible fare for every journey, provides the best travelling experience, and reduces environmental impacts. These tickets are more secure as compared to traditional paper tickets. Replicating these tickets is tough, and they can also be cancelled if you lose the smart card. It saves the passenger’s time as it does not require them to wait in a queue.

A change from conventional event ticketing procedures was brought about by e-tickets for several events. Nowadays, most events venue counters encourage customers to book tickets online in advance. Booking tickets through smartphone, tablet, or web applications has been a substantial trend in online event ticketing during the past few years. Due to its easy use, user-friendly interfaces, flexibility in booking times, and many investigation engagement marketing methods offered by service providers, this trend is gaining popularity.

COVID-19 Impact: The Ban on Public Events Hampered the Growth

The entertainment and travel industry has suffered as a result of the COVID-19 pandemic. The theater, which offers unique occasions by requiring the audience to assemble together, was forced to transform into a mostly remote art and virtual form to deal with the necessary safety measures prompted by the epidemic. The transportation industry experienced a major hindrance due to the shutdown of the entertainment and travel industries. The railways, aviation, and bus travel services were on hold to control the spread of the pandemic. Moreover, concerts, flea markets, and other public events were prohibited to avoid any public gatherings, which hindered e-ticketing system market growth. 

LATEST TRENDS

"Rapid Adoption of Smart Technologies to Prosper Market Growth "

The majority of events that use smart ticketing are concerts, sporting events, and stadiums. The performance of the ticketing system is greatly improved by introducing cutting-edge technology such as near-field communication (NFC). A card reader and an NFC card may communicate at a distance of about 4 cm, thanks to NFC technology. Additionally, the adoption of NFC technology makes it possible to buy tickets rapidly by putting in a contactless smart card similar to smart card readers or paying with a wave. NFC-enabled smartphones are also widely used to carry out secure contactless transactions, access digital content, and store tickets to open doors to parking lots and transportation lanes. These factors are estimated to surge the e-ticketing system market growth. 

E-Ticketing System Market Segmentation

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• By Type Analysis

By type, the market is segmented into ticket management and financial stat.

• By Application Analysis

Based on application, the market is classified into aviation, scenic spot, railway, and others.

DRIVING FACTORS

"Vital Spread of Smartphones to Offer Lucrative Growth Opportunities"

The rapid adoption of smartphones and tablets has boosted the e-ticketing system market. It offers flexibility and convenience. The service providers are developing interactive and user-friendly interfaces, which leads to faster and quicker ticket purchases. Contact tracing and visitor screening can be incorporated into event preparation by ticket organizers and ticketing systems. The ticketing system can expand event safety by screening visitors who display symptoms and can easily collect their information by tracing information from access control apps and event registration systems. The prevalence of smartphones is expected to be the major reason for the e-ticketing system market growth.

"Government Promoting Cashless Transactions to Bolster System Demand"

The government is compelled to shift the population from traditional transactions to digital transactions. Shifting towards digital transactions helps in reducing paper usage and saving trees. Various banking and telecom services have strictly implemented online platforms for monetary transactions. These services generate an e-ticket which can be delivered through text messages and email due to the rising popularity of paperless transactions. The availability of e-ticketing systems is propelling e-ticketing system market growth.

RESTRAINING FACTORS

"High Cost of Installation May Restrain Market Growth"

The e-ticketing system is mostly used in public transportation networks and sports events. The deployment of this network requires various entities' efforts, such as infrastructure, service providers, public sectors, component manufacturers, and user groups. These entities make the e-ticketing system cost high, which is anticipated to impede global market growth.

E-Ticketing System Market REGIONAL INSIGHTS

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"North America to Lead the Market Due to the Steady Adoption of Advanced Technologies"

North America is likely to hold a leading part of the e-ticketing system market share due to the rapid adoption of advanced technologies. Additionally, the presence of key market players in the region will also augment the market growth.

Asia Pacific is forecasted to show significant growth in the market due to the rising adoption of IoT devices and smartphones in the region. Moreover, rapid urbanization is also expected to surge growth in the region.

KEY INDUSTRY PLAYERS

"Key Companies to Emphasis on the Development of Advanced Technology"

Key market players are investing heavily on research and development of the product. Companies are also paying focus on launching advanced products. Emphasis on gaining collaborations, mergers, and acquisitions is increasing among leading players. The major market players are striving to maintain partnerships with other key players in the same industry. Gaining partnerships with other companies will develop a strong consumer base in the global market. The key competitors are adopting organic and inorganic growth strategies to surge the e-ticketing system market share in the global market. 

List of Market Players Profiled

• Chengdu Monkey Software (China)
• ETICKETS.HK (China)
• Laravel (U.S.)
• Jayam Solutions (India)
• ZEBRA Consultants (Cyprus)
• FELA Management (Switzerland)
• Weezevent (France)
• Acer (Taiwan)
• Archimede Informatica (U.S.)
• Aino Indonesia(PT Aino Indonesia) (Indonesia)
• Digital Fleet
• SISTIC (India)
• TraveloPro (India)
• SKIDATA (India)
• Ticket2U (Singapore)
• Masabi (U.S.)
• Freshworks (U.S.)

REPORT COVERAGE

The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few of them. Additionally, it provides an analytical analysis of market trends and projections for various factors to show potential investment areas. From 2021 through 2031, the market is objectively assessed to determine its financial viability. The report's data was compiled using a variety of primary and secondary sources.