PUNE, India | 4th September 2020: 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.
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- North America held the highest market share in global mobile ticketing 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.
- 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.
The detailed research study provides qualitative and quantitative analysis of mobile ticketing in transportation market. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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