Global Mobile Ticketing Market is expected to exhibit a CAGR of 16.2% during the forecast period (2023-2030), as highlighted in a report published by Coherent Market Insights.
The “Global Mobile Ticketing Market, By Type (Mobile Ticketing Application and SMS Mobile Ticketing), By Application (Travel Ticket (Airline Tickets, Railway Tickets, Bus Tickets, and Others), Entertainment Tickets, Hotels Booking, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa) - Global Forecast to 2030”
Mobile ticketing is a digital process where an individual can book a ticket for admission to event. The customer can pay through online transaction and avail digital form of the ticket, which makes this entire process paperless. Mobile tickets can be purchased in various ways including SMS booking, online, through voice call, or WAP page. The provision of mobile number is essential in mobile ticketing since it aids in determining whether to text or send image barcode or alphanumeric code that is saved by the user as a form of digital ticket. Mobile ticketing has become popular among populace due to its convenience and enhanced accessibility.
Global Mobile Ticketing Market: Drivers
Integration with transportation systems
Integration with transportation systems is a key driver fueling the growth and expansion of the global mobile ticketing market. By seamlessly integrating with transportation systems, mobile ticketing platforms offer passengers a convenient and efficient ticketing experience. This eliminates the need for physical tickets, reduces queuing time, and simplifies the entire ticketing process. Integration benefits transportation providers as well, enhancing operational efficiency through streamlined ticket validation and real-time monitoring of passenger flows.
Moreover, it reduces costs by eliminating the need for printed tickets and contributes to environmental sustainability by promoting paperless ticketing. Integration also enables access to real-time travel information, empowering passengers with updates on routes, schedules, and disruptions.
Furthermore, it facilitates multi-modal ticketing, allowing passengers to purchase a single ticket for various modes of transportation. The integration of mobile ticketing with transportation systems generates valuable data, enabling data-driven insights for optimizing transportation services and improving the overall travel experience.
Additionally, integration promotes interoperability and sets the stage for future innovations and services, such as integrating with ride-sharing platforms or expanding into other mobility solutions. Overall, integration with transportation systems serves as a significant driver in propelling the growth and adoption of mobile ticketing solutions.
For instance, in June 2020, the Metropolitan Transportation Authority (MTA) in New York, USA introduced the (One Metro New York (OMNY) system, allowing passengers to use their smartphones for contactless fare payments across subway, bus, and commuter rail services. This integration provided passengers with a seamless and convenient way to pay for their journey while reducing the reliance on physical tickets or cash.
Integration with other services
Integration with other services is a significant driver that fuels the growth and adoption of mobile ticketing solutions. By integrating with complementary services, mobile ticketing platforms offer users a more comprehensive and seamless experience.
Integration with digital wallets and payment systems: Mobile ticketing platforms often integrate with popular digital wallets and payment systems. This integration allows users to conveniently make secure payments for their tickets using their preferred payment methods, such as credit cards, mobile wallets (e.g., Apple Pay and Google Pay), or other digital payment options. By integrating with these payment systems, mobile ticketing platforms streamline the ticket purchasing process and provide users with a familiar and trusted payment experience.
Integration with loyalty programs: Mobile ticketing platforms can integrate with loyalty programs, allowing users to earn rewards, redeem points, or access exclusive offers and discounts when purchasing tickets. This integration enhances customer engagement and loyalty by providing added incentives and personalized benefits to users.
Integration with event management platforms: Mobile ticketing platforms can integrate with event management platforms, enabling users to purchase and store tickets for various events, such as concerts, sports games, or theater shows. This integration simplifies the ticketing process and provides users with a centralized platform to manage their event tickets and attendance.
Integration with digital access and identity verification: Some mobile ticketing solutions integrate with digital access and identity verification systems, such as biometric authentication or QR code scanning. This integration enhances security, prevents fraud, and speeds up the ticket validation process at entry points.
For instance, in October 2020, Uber, a transport company announced a global partnership with Masabi, a technology company to integrate public transit ticketing within the Uber app. This integration aimed to provide users with a seamless and integrated travel experience by combining ride-sharing services with public transportation. The partnership allowed Uber users to purchase and use public transit tickets directly within the Uber app, eliminating the need to switch between multiple apps or payment systems.
Global Mobile Ticketing Market: Opportunities
Integration with smart city initiatives
Integration with smart city initiatives presents a significant opportunity for the expansion of the global mobile ticketing market. By integrating with various components of smart cities such as transportation systems, parking solutions, and event management, mobile ticketing platforms can provide seamless and interconnected services to residents and visitors. This integration enables users to access and pay for multiple modes of transportation within a single app, offering a convenient and multimodal travel experience. Real-time information on routes, schedules, and delays enhances journey planning, while integration with smart parking systems provides real-time parking availability and efficient parking management.
Furthermore, integration with event management systems streamlines the ticketing process and improves the overall event experience. By leveraging data generated through integration with smart city initiatives, mobile ticketing platforms can provide valuable insights for urban planning, transportation optimization, and policy decisions. Overall, integration with smart city initiatives drives the expansion of the global mobile ticketing market by offering comprehensive and sustainable solutions that enhance mobility, convenience, and efficiency in urban environments.
Global Mobile Ticketing Market: Restraints
Lack of standardization
The lack of standardization poses a significant restraint on the expansion of the global mobile ticketing market. Without universal standards and interoperability, the market becomes fragmented, leading to compatibility issues and complexities for both users and service providers. Mobile ticketing platforms may utilize different technologies, protocols, or ticketing formats, making it challenging for users to seamlessly switch between different apps or services.
This fragmentation also limits the ability of service providers to integrate their solutions with existing transportation systems or other ticketing platforms. As a result, users may face difficulties in accessing and using mobile ticketing services, and providers may encounter obstacles in establishing partnerships or expanding their reach. Additionally, the lack of standardization impedes innovation and slows down the development of new features or functionalities across the market.
Overcoming this restraint requires collaborative efforts among industry stakeholders, standard-setting organizations, and regulatory bodies to establish common standards and ensure interoperability. Standardization would not only simplify the user experience but also promote competition, innovation, and the overall growth of the global mobile ticketing market.
Despite the lack of standardization being a restraint in the global mobile ticketing market, there are counterbalances that can help mitigate its impact and drive the market expansion. Industry collaborations and consortiums can bring stakeholders together to establish common standards and interoperability guidelines, promoting a more cohesive mobile ticketing ecosystem. Additionally, government regulations and initiatives can incentivize industry collaboration and set guidelines for data exchange, encouraging the adoption of common standards.
Global Mobile Ticketing Market- Impact of Coronavirus (Covid-19) Pandemic
The COVID-19 pandemic has had a significant impact on the global mobile ticketing market, presenting both challenges and opportunities. The restrictions on travel, events, and public gatherings have resulted in the decreased demand for tickets across various sectors, impacting the adoption and usage of mobile ticketing platforms. Disruptions in transportation services, including reduced schedules and changes in travel patterns, have further affected the usage of mobile ticketing solutions. Additionally, concerns about contact and contamination have led to some reluctance in adopting mobile ticketing during the pandemic.
However, the pandemic has also accelerated the adoption of contactless solutions, including mobile ticketing, as people seek safer and touchless alternatives. The shift towards digital solutions and the increased focus on safety and flexibility present opportunities for mobile ticketing providers. They can promote their services as safe and convenient alternatives, facilitate touchless transactions, and offer real-time updates and dynamic pricing adjustments. Adapting to changing travel patterns and catering to local and regional travel needs can also help providers capitalize on emerging opportunities. While the COVID-19 pandemic has posed challenges, the global mobile ticketing market has the potential to rebound and thrive by addressing the evolving needs and preferences of users in a post-pandemic world.
Key Takeaways:
North America dominated the global mobile ticketing market in 2022, accounting for 30.4% shares in terms of value, followed by Europe and Asia Pacific, respectively.
North America is expected to hold the dominant position in the global mobile ticketing market during the forecast period. This is due to the high penetration of smartphones in the region and the increasing adoption of mobile payments. Additionally, the growing demand for convenience and efficiency in ticketing boosts the market growth.
To know the latest trends and insights prevalent in the global mobile ticketing market, click on the link below:
https://www.coherentmarketinsights.com/market-insight/mobile-ticketing-market-3419
Global Mobile Ticketing Market - Trends
Personalization and customer engagement
Personalization and customer engagement are significant drivers in the expansion of the global mobile ticketing market. Mobile ticketing platforms are leveraging user data to provide tailored recommendations, offering personalized suggestions for events, attractions, and transportation options based on individual preferences. Loyalty programs and rewards incentivize customer engagement and foster loyalty, allowing users to earn points and enjoy exclusive benefits. Seamless account management features enable users to easily access their ticketing history and preferences, enhancing convenience and encouraging repeat usage. Targeted offers and promotions based on user data further enhance customer engagement by providing personalized discounts and bundle deals.
Real-time updates and notifications keep users informed about event changes, improving the overall ticketing experience. Integration with social media channels allows users to share their ticketed events and engage with the community. These personalized and engaging approaches create a more immersive and satisfying ticketing experience, fostering customer loyalty and driving the expansion of the global mobile ticketing market.
Voice-activated ticketing
Voice-activated ticketing is an emerging trend that is expanding the capabilities of mobile ticketing platforms. With the rise of voice assistants and smart speakers, users now have the convenience of purchasing and managing their tickets through voice commands. This hands-free approach eliminates the need for manual input, making the ticketing process more efficient and accessible. Users can simply use voice commands to search for events, check availability, and purchase tickets, enhancing the overall convenience and ease of use.
Voice-activated ticketing also benefits users with disabilities or those who prefer a more intuitive and natural interaction. The technology behind voice recognition and natural language processing continues to advance, enabling more accurate and seamless interactions.
Mobile ticketing providers are incorporating voice-activated features into their platforms to cater to this growing trend, providing users with a streamlined and frictionless ticketing experience. As voice-activated technologies continue to evolve, we can expect to see wider adoption and integration of voice-activated ticketing across the global mobile ticketing market, further enhancing convenience and accessibility for users.
Global Mobile Ticketing Market - Key Developments
- Moovel, a provider of mobility-as-a-service (MaaS) solutions, made significant developments in mobile ticketing. In 2020, the company partnered with the Regional Transportation District (RTD) in Denver, US, to launch a new mobile ticketing app called "MyRide," enabling passengers to purchase and validate tickets digitally. This initiative aimed to improve the overall user experience and promote contactless ticketing in the region.
- Eventbrite, a prominent event management and ticketing platform, responded to the challenges posed by the COVID-19 pandemic by enhancing its mobile ticketing capabilities. In 2020, the company introduced new features and integrations to support virtual events, enabling organizers to sell digital tickets and provide access codes for online experiences. This adaptation to the changing event landscape facilitated the transition from physical to digital ticketing, accommodating the shift towards virtual events.
Global Mobile Ticketing Market: Competitive Landscape
The key companies operating in the market include AEP Ticketing Solutions Srl, Rapidsoft Systems, Inc., Masabi Ltd, moovel Group GmbH, Gemalto N.V., Scheidt & Bachmann GmbH, ShowClix Inc., inmodo AB, Digital Management, Inc., and Margento B.V.
