Mobile Ticketing is defined as a process by which one can book tickets for any transportation/event/entertainment show via mobile devices without using any paper at all. Market Research Future (MRFR) has published a research report about the global mobile ticketing market that presages advancement for this market at 19% CAGR (Compound Annual Growth Rate) between 2016 and 2022. By value, the market has been figured to be worth the US $ 4026 mn by the end of the forecast period.
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Analyzing the market structure, this report weighs the future growth potential of the market. It assesses the strategies of the key players in the market and supports the competitive developments like joint ventures, new product developments, mergers & acquisitions, research and developments (R&D) in the market.
The big factor aiding the mobile ticketing market growth is a range of its advantages. Such advantages include increased customer convenience, reduced production costs, and reduced distribution costs. Other factors contributing to the market growth include rising market penetration of smartphones, demands of instant ticket booking, digitization, and the emergence of the latest technologies. Mobile ticketing is also reducing paperwork time and errors, along with providing immediate information accessibility. However, lack of awareness, poor internet connectivity, prevailing security concerns regarding mobile payment can hinder the market growth.
The global mobile ticketing market has been segmented on the basis of application, technology, type, and lastly, region. The application-based segmentation segments this market into entertainment tickets, travel tickets, and others. Based on technology, the market has been segmented into 2D bar code, optical character recognition (OCR), and near field communication (NFC) technology. The 2D bar code has been sub-segmented into PDF 417 and QR code. By type, the market has been segmented into mobile applications and SMS ticketing.
The regional segmentation of Mobile Ticketing System Market segments the market into the regional markets known as North America, Asia Pacific, Europe, and rest of the world (RoW). During the forecast period, North America is expected to dominate the global market due to the high penetration of mobile ticketing applications in this region. Many key market players are in this region. The most important country-specific markets in this region are Canada and the USA.
Europe is a significant regional market due to early adoption of mobile ticketing. Some key players of the global market are based in Europe too. The primary country-specific markets in this region are France, Germany, and the UK, followed by the remaining countries of Europe.
During the forecast period, the Asia Pacific regional market is expected to grow significantly due to factors such as the introduction of NFC and increasing advancements in mobility. China, India, and Japan are the vibrant 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 small due to poor countries, lack of education, lack of awareness, lack of skilled labor, and lack of technological advancement.
The key players in the global mobile ticketing market include Ace Ticket Worldwide (USA), Alliance Tickets (USA), Airtag (France), Coast to Coast Tickets (USA), Helpshift (USA), Masabi (UK), Proxama (UK), RazorGator (USA), StubHub (USA), Ticketscript (Netherlands), and Zendesk (USA).
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