Smart Ticketing Market Trends, Share, and Growth (2021-2031)
The smart ticketing market size is projected to reach US$ 16.51 billion by 2031 from US$ 6.85 billion in 2023. The market is expected to register a CAGR of 11.6% during 2023–2031. Blockchain technology in smart ticketing is likely to bring in new trends in the market.
Smart Ticketing Market Analysis
The smart ticketing market has witnessed significant growth in recent years. Factors such as rapid digitization across industries have led to a growing dependence on contactless payment. Moreover, the increasing adoption of smart devices for booking tickets across the globe is expected to contribute to the growing smart ticketing market size. Additionally, the integration of advanced technologies such as artificial intelligence, virtual reality maps, smartphones, and wearables in the ticketing system is expected to bring new smart ticketing market trends in the coming years.
Smart Ticketing Market Overview
The process of electronically storing a travel ticket on a microchip—which is typically put on a smartcard—is known as smart ticketing. Using an ITSO smartcard would eliminate the need for traditional payment methods through cash and receiving paper tickets, thereby enabling users of public transportation to board and exit buses, trams, or trains with ease. To authorize the trip, the transport operator scans the contactless smartcard at a barrier using a static ticket machine or a handheld ticket machine. Smart tickets have gained significant traction as a modern replacement for traditional paper-based ticketing, driven by the increasing emphasis on digitizing ticketing processes. This innovative technology saves passengers' time by eliminating the need to queue for ticket purchases. It has also evolved to encompass smartcards and mobile apps, offering a superior alternative to paper tickets. Furthermore, smart ticketing is widely utilized across various modes of transportation and has seen growing applications in sports and entertainment events. A notable example is Rio de Janeiro, which hosted the Olympic Games and expected half a million international visitors. The city's public transport ticketing system featured Gemalto's contactless technology, including the waterproof "Celego Contactless Wristband" and "Celego Contactless Sticker," both embedded with Gemalto's contactless chip and certified by Visa and MasterCard. These solutions, activated with a simple wave of the wristband near the contactless readers, represented a significant infrastructure enhancement introduced at a global level.
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Smart Ticketing Market: Strategic Insights
Market Size Value in US$ 6.85 billion in 2022 Market Size Value by US$ 16.51 billion by 2030 Growth rate CAGR of 11.6% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Smart Ticketing Market: Strategic Insights
| Market Size Value in | US$ 6.85 billion in 2022 |
| Market Size Value by | US$ 16.51 billion by 2030 |
| Growth rate | CAGR of 11.6% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Smart Ticketing Market Drivers and Opportunities
Rising Demand for Digital Payments in Public Transport
Modern cities offer a variety of transportation options, such as buses, trains, and metros. Each public transportation system has its own ticketing system. Managing multiple smart cards or applications for different modes of transportation might be overwhelming for commuters. A centralized method is necessary to combine all transportation networks. In this direction, the public transport infrastructure across the world is being upgraded. The upgrades also aim at improving the commuter experience via a seamless payment interface. For instance, in May 2023, Conduent Transportation, a global provider of smart mobility technology solutions and a business unit of Conduent Incorporated (Nasdaq: CNDT), announced that its subsidiary, a partnership between Conduent and Convergint, has been chosen by the State of Victoria (Australia) to provide the next generation of the state's public transport ticketing system, known as myki. The firms aim to implement an advanced, contactless payment account-based transit ticketing system that will upgrade the state's current smartcard solution and provide riders with a better user experience. In December 2022, Hitachi Rail's 360Pass travel platform went live in Trentino (Italy) allowing customers to travel on all modes of public transportation in the city without purchasing a traditional ticket. The app is accessible for free from any app store. Citizens and tourists can easily purchase multimodal tickets using their smartphones after downloading the application. As cities evolve into smart, connected, and digital-first environments, digital payments for public transportation services will remain at the forefront of the agenda, thereby driving the smart ticketing market growth.
Rising Investments in Smart Stadiums
In recent years, the global need for contactless experience systems has accelerated the use of smart ticketing in stadium and event sales processes. Smart ticketing provides an easy way for stadium and event organizers to run their operations more efficiently, avoiding overhead costs and procedural bottlenecks. This is crucial since traditional paper-based ticketing needs more labor and resources, rendering it an unsustainable method of organizing sporting events. The implementation of a smart ticketing system can dramatically enhance ticket sales by allowing fans to check the availability of their favorite seats and order tickets that match their preferences. The significant data acquired from these bookings allows organizers to determine which areas fans are most interested in, resulting in the development of targeted ticketing strategies that appeal to specific audience segments. With smart ticketing taking care of ticket validation, the stadium staff may be reallocated to improve fan experiences, assist with crowd management, provide information and guidance, or support key areas that require human intervention. Smart ticketing makes the best use of workers by streamlining ticketing operations, boosting both operational efficiency and the entire stadium experience for attendees. For instance, RFID tickets were utilized by millions of supporters during the FIFA Confederations Cup in 2013, the FIFA World Cup in 2014, the FIFA Confederations Cup in 2017, the FIFA World Cup in 2018, the FIFA Arab Cup in 2021, and the FIFA World Cup 2022 in Qatar. FIFA had appointed HID as its official ticket producer. Thus, increasing investments in smart stadiums to make the user payment experience seamless is expected to create lucrative opportunities for the smart ticketing market expansion.
Smart Ticketing Market Report Segmentation Analysis
Key segments that contributed to the derivation of the smart ticketing market analysis are component, payment system, and end user.
- Based on component, the market is segmented into hardware, software, and services. The hardware segment held the largest market share in 2023.
- By payment system, the market is divided into open payment system, smart card, and NFC. The smart card segment held the largest market share in 2023.
- In terms of end user, the market is categorized into transportation, sport and entertainment, parking, and others. The sport and entertainment segment dominated the market in 2023.
Smart Ticketing Market Share Analysis by Geography
The geographic scope of the smart ticketing market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America held a significant market share in 2023. The North America smart ticketing market is experiencing significant growth owing to the advancements in smart card technology utilized in smart ticketing systems. Contactless solutions facilitated by smartphones and cutting-edge wearable devices are gaining significant traction, as these solutions help optimize time and curb friction at physical ticket counters with flexible payment options. Prominent smart wearable manufacturers, such as Samsung, have introduced payment capabilities in their smartwatches. Additionally, most device manufacturers are integrating payment services, including Samsung Pay, Fitbit Pay, Apple Pay, Garmin Pay, and Google Pay, into their mobile wallet offerings. While smartwatch-enabled payments are still in the developmental phase, they hold significant market potential. These developments are projected to empower consumers to purchase tickets using their wearable devices, reflecting a notable shift in the ticketing landscape. Additionally, initiatives taken by the key smart ticketing market players, such as Cubic Corporation, positively favor the market.
For instance, in May 2023, Infineon's CALYPSO move facilitated the development of interoperable ticketing solutions that adhere to open standards, empowering manufacturers to tailor solutions for the unique needs of transport operators and authorities. This approach eliminates the reliance on magnetic stripes, barcodes, and proprietary tickets, ensuring greater flexibility and compatibility across diverse systems. This development represents a major step forward in modernizing and expanding the contactless ticketing system across the state, with plans for full deployment across the entire passenger rail system, followed by buses and ferries.
Smart Ticketing Market Report Scope
Smart Ticketing Market News and Recent Developments
The smart ticketing market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the smart ticketing market are listed below:
- Infineon's CALYPSO move facilitated the development of interoperable ticketing solutions that adhere to open standards, empowering manufacturers to tailor solutions to the unique needs of transport operators and authorities. This approach eliminates the reliance on magnetic stripes, barcodes, and proprietary tickets, ensuring greater flexibility and compatibility across diverse systems. (Source: Infineon, Press Release, May 2023)
- NXP Semiconductors unveiled the latest addition to its MIFARE Ultralight family, heralded as the most secure variant. The MIFARE Ultralight AES leverages standard AES authentication and holds Common Criteria EAL3+ security certification, delivering enhanced privacy and security for limited-use contactless tickets, RFID basic guest cards, and similar applications. (Source: NXP Semiconductors, Press Release, February 2022)
Smart Ticketing Market Report Coverage and Deliverables
The "Smart Ticketing Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Smart ticketing market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Smart ticketing market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Smart ticketing market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the smart ticketing market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Payment System, End User, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Increasing demand for smart ticketing from sport, entertainment, and tourism sectors are driving the smart ticketing market.
The smart ticketing market was estimated to be valued at US$ 6.85 billion in 2023 and is projected to reach US$ 16.51 billion by 2031; it is anticipated to grow at a CAGR of 11.6% over the forecast period.
The hardware segment led the microprocessors market with a significant share in 2023.
The smart ticketing market is expected to reach US$ 16.51 billion by 2031.
Asia Pacific is anticipated to grow at the fastest CAGR over the forecast period.
The usage of blockchain in smart ticketing industry are expected to drive the growth of the smart ticketing market in the coming years.
The key players holding majority shares in the smart ticketing market include Infineon Technologies AG, NXP Semiconductors, Xerox Corporation, Cubic Corporation, and IDEMIA.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. Smart Ticketing Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
4.4 List of Vendors
5. Smart Ticketing Market – Key Market Dynamics
5.1 Smart Ticketing Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Rising Demand for Digital Payments in Public Transport
5.2.2 Increasing Integration of IoT for Better Mobility in Smart Cities
5.3 Market Restraints
5.3.1 Data Safety and Security Issues
5.4 Market Opportunities
5.4.1 Rising Investments in Smart Stadiums
5.4.2 Advancements in AI and ML Technology
5.5 Future Trends
5.5.1 Blockchain Technology in Smart Ticketing
5.6 Impact of Drivers and Restraints:
6. Smart Ticketing Market – Global Market Analysis
6.1 Smart Ticketing Market Revenue (US$ Million), 2021–2031
6.2 Smart Ticketing Market Forecast Analysis
7. Smart Ticketing Market Analysis – by Component
7.1 Hardware
7.1.1 Overview
7.1.2 Hardware: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Software
7.2.1 Overview
7.2.2 Software: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
7.3 Services
7.3.1 Overview
7.3.2 Services: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
8. Smart Ticketing Market Analysis – by Payment System
8.1 Open Payment System
8.1.1 Overview
8.1.2 Open Payment System: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Smart Card
8.2.1 Overview
8.2.2 Smart Card: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
8.3 NFC
8.3.1 Overview
8.3.2 NFC: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
9. Smart Ticketing Market Analysis – by End User
9.1 Transportation
9.1.1 Overview
9.1.2 Transportation: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
9.2 Sport and Entertainment
9.2.1 Overview
9.2.2 Sport and Entertainment: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
9.3 Parking
9.3.1 Overview
9.3.2 Parking: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
9.4 Others
9.4.1 Overview
9.4.2 Others: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10. Smart Ticketing Market – Geographical Analysis
10.1 Overview
10.2 North America
10.2.1 North America Smart Ticketing Market Overview
10.2.2 North America: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.2.3 North America: Smart Ticketing Market Breakdown, by Component
10.2.3.1 North America: Smart Ticketing Market – Revenue and Forecast Analysis – by Component
10.2.4 North America: Smart Ticketing Market Breakdown, by Payment System
10.2.4.1 North America: Smart Ticketing Market – Revenue and Forecast Analysis – by Payment System
10.2.5 North America: Smart Ticketing Market Breakdown, by End User
10.2.5.1 North America: Smart Ticketing Market – Revenue and Forecast Analysis – by End User
10.2.6 North America: Smart Ticketing Market – Revenue and Forecast Analysis – by Country
10.2.6.1 North America: Smart Ticketing Market – Revenue and Forecast Analysis – by Country
10.2.6.2 United States: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.2.6.2.1 United States: Smart Ticketing Market Breakdown, by Component
10.2.6.2.2 United States: Smart Ticketing Market Breakdown, by Payment System
10.2.6.2.3 United States: Smart Ticketing Market Breakdown, by End User
10.2.6.3 Canada: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.2.6.3.1 Canada: Smart Ticketing Market Breakdown, by Component
10.2.6.3.2 Canada: Smart Ticketing Market Breakdown, by Payment System
10.2.6.3.3 Canada: Smart Ticketing Market Breakdown, by End User
10.2.6.4 Mexico: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.2.6.4.1 Mexico: Smart Ticketing Market Breakdown, by Component
10.2.6.4.2 Mexico: Smart Ticketing Market Breakdown, by Payment System
10.2.6.4.3 Mexico: Smart Ticketing Market Breakdown, by End User
10.3 Europe
10.3.1 Europe Smart Ticketing Market Overview
10.3.2 Europe: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.3.3 Europe: Smart Ticketing Market Breakdown, by Component
10.3.3.1 Europe: Smart Ticketing Market – Revenue and Forecast Analysis – by Component
10.3.4 Europe: Smart Ticketing Market Breakdown, by Payment System
10.3.4.1 Europe: Smart Ticketing Market – Revenue and Forecast Analysis – by Payment System
10.3.5 Europe: Smart Ticketing Market Breakdown, by End User
10.3.5.1 Europe: Smart Ticketing Market – Revenue and Forecast Analysis – by End User
10.3.6 Europe: Smart Ticketing Market – Revenue and Forecast Analysis – by Country
10.3.6.1 Europe: Smart Ticketing Market – Revenue and Forecast Analysis – by Country
10.3.6.2 United Kingdom: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.2.1 United Kingdom: Smart Ticketing Market Breakdown, by Component
10.3.6.2.2 United Kingdom: Smart Ticketing Market Breakdown, by Payment System
10.3.6.2.3 United Kingdom: Smart Ticketing Market Breakdown, by End User
10.3.6.3 Germany: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.3.1 Germany: Smart Ticketing Market Breakdown, by Component
10.3.6.3.2 Germany: Smart Ticketing Market Breakdown, by Payment System
10.3.6.3.3 Germany: Smart Ticketing Market Breakdown, by End User
10.3.6.4 France: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.4.1 France: Smart Ticketing Market Breakdown, by Component
10.3.6.4.2 France: Smart Ticketing Market Breakdown, by Payment System
10.3.6.4.3 France: Smart Ticketing Market Breakdown, by End User
10.3.6.5 Italy: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.5.1 Italy: Smart Ticketing Market Breakdown, by Component
10.3.6.5.2 Italy: Smart Ticketing Market Breakdown, by Payment System
10.3.6.5.3 Italy: Smart Ticketing Market Breakdown, by End User
10.3.6.6 Russia: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.6.1 Russia: Smart Ticketing Market Breakdown, by Component
10.3.6.6.2 Russia: Smart Ticketing Market Breakdown, by Payment System
10.3.6.6.3 Russia: Smart Ticketing Market Breakdown, by End User
10.3.6.7 Rest of Europe: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.7.1 Rest of Europe: Smart Ticketing Market Breakdown, by Component
10.3.6.7.2 Rest of Europe: Smart Ticketing Market Breakdown, by Payment System
10.3.6.7.3 Rest of Europe: Smart Ticketing Market Breakdown, by End User
10.4 Asia Pacific
10.4.1 Asia Pacific Smart Ticketing Market Overview
10.4.2 Asia Pacific: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.4.3 Asia Pacific: Smart Ticketing Market Breakdown, by Component
10.4.3.1 Asia Pacific: Smart Ticketing Market – Revenue and Forecast Analysis – by Component
10.4.4 Asia Pacific: Smart Ticketing Market Breakdown, by Payment System
10.4.4.1 Asia Pacific: Smart Ticketing Market – Revenue and Forecast Analysis – by Payment System
10.4.5 Asia Pacific: Smart Ticketing Market Breakdown, by End User
10.4.5.1 Asia Pacific: Smart Ticketing Market – Revenue and Forecast Analysis – by End User
10.4.6 Asia Pacific: Smart Ticketing Market – Revenue and Forecast Analysis – by Country
10.4.6.1 Asia Pacific: Smart Ticketing Market – Revenue and Forecast Analysis – by Country
10.4.6.2 India: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.2.1 India: Smart Ticketing Market Breakdown, by Component
10.4.6.2.2 India: Smart Ticketing Market Breakdown, by Payment System
10.4.6.2.3 India: Smart Ticketing Market Breakdown, by End User
10.4.6.3 China: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.3.1 China: Smart Ticketing Market Breakdown, by Component
10.4.6.3.2 China: Smart Ticketing Market Breakdown, by Payment System
10.4.6.3.3 China: Smart Ticketing Market Breakdown, by End User
10.4.6.4 Japan: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.4.1 Japan: Smart Ticketing Market Breakdown, by Component
10.4.6.4.2 Japan: Smart Ticketing Market Breakdown, by Payment System
10.4.6.4.3 Japan: Smart Ticketing Market Breakdown, by End User
10.4.6.5 South Korea: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.5.1 South Korea: Smart Ticketing Market Breakdown, by Component
10.4.6.5.2 South Korea: Smart Ticketing Market Breakdown, by Payment System
10.4.6.5.3 South Korea: Smart Ticketing Market Breakdown, by End User
10.4.6.6 Australia: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.6.1 Australia: Smart Ticketing Market Breakdown, by Component
10.4.6.6.2 Australia: Smart Ticketing Market Breakdown, by Payment System
10.4.6.6.3 Australia: Smart Ticketing Market Breakdown, by End User
10.4.6.7 Rest of APAC: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.7.1 Rest of APAC: Smart Ticketing Market Breakdown, by Component
10.4.6.7.2 Rest of APAC: Smart Ticketing Market Breakdown, by Payment System
10.4.6.7.3 Rest of APAC: Smart Ticketing Market Breakdown, by End User
10.5 Middle East and Africa
10.5.1 Middle East and Africa Smart Ticketing Market Overview
10.5.2 Middle East and Africa: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.5.3 Middle East and Africa: Smart Ticketing Market Breakdown, by Component
10.5.3.1 Middle East and Africa: Smart Ticketing Market – Revenue and Forecast Analysis – by Component
10.5.4 Middle East and Africa: Smart Ticketing Market Breakdown, by Payment System
10.5.4.1 Middle East and Africa: Smart Ticketing Market – Revenue and Forecast Analysis – by Payment System
10.5.5 Middle East and Africa: Smart Ticketing Market Breakdown, by End User
10.5.5.1 Middle East and Africa: Smart Ticketing Market – Revenue and Forecast Analysis – by End User
10.5.6 Middle East and Africa: Smart Ticketing Market – Revenue and Forecast Analysis – by Country
10.5.6.1 Middle East and Africa: Smart Ticketing Market – Revenue and Forecast Analysis – by Country
10.5.6.2 Saudi Arabia: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.5.6.2.1 Saudi Arabia: Smart Ticketing Market Breakdown, by Component
10.5.6.2.2 Saudi Arabia: Smart Ticketing Market Breakdown, by Payment System
10.5.6.2.3 Saudi Arabia: Smart Ticketing Market Breakdown, by End User
10.5.6.3 United Arab Emirates: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.5.6.3.1 United Arab Emirates: Smart Ticketing Market Breakdown, by Component
10.5.6.3.2 United Arab Emirates: Smart Ticketing Market Breakdown, by Payment System
10.5.6.3.3 United Arab Emirates: Smart Ticketing Market Breakdown, by End User
10.5.6.4 South Africa: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.5.6.4.1 South Africa: Smart Ticketing Market Breakdown, by Component
10.5.6.4.2 South Africa: Smart Ticketing Market Breakdown, by Payment System
10.5.6.4.3 South Africa: Smart Ticketing Market Breakdown, by End User
10.5.6.5 Rest of Middle East and Africa: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.5.6.5.1 Rest of Middle East and Africa: Smart Ticketing Market Breakdown, by Component
10.5.6.5.2 Rest of Middle East and Africa: Smart Ticketing Market Breakdown, by Payment System
10.5.6.5.3 Rest of Middle East and Africa: Smart Ticketing Market Breakdown, by End User
10.6 South and Central America
10.6.1 South and Central America Smart Ticketing Market Overview
10.6.2 South and Central America: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.6.3 South and Central America: Smart Ticketing Market Breakdown, by Component
10.6.3.1 South and Central America: Smart Ticketing Market – Revenue and Forecast Analysis – by Component
10.6.4 South and Central America: Smart Ticketing Market Breakdown, by Payment System
10.6.4.1 South and Central America: Smart Ticketing Market – Revenue and Forecast Analysis – by Payment System
10.6.5 South and Central America: Smart Ticketing Market Breakdown, by End User
10.6.5.1 South and Central America: Smart Ticketing Market – Revenue and Forecast Analysis – by End User
10.6.6 South and Central America: Smart Ticketing Market – Revenue and Forecast Analysis – by Country
10.6.6.1 South and Central America: Smart Ticketing Market – Revenue and Forecast Analysis – by Country
10.6.6.2 Brazil: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.6.6.2.1 Brazil: Smart Ticketing Market Breakdown, by Component
10.6.6.2.2 Brazil: Smart Ticketing Market Breakdown, by Payment System
10.6.6.2.3 Brazil: Smart Ticketing Market Breakdown, by End User
10.6.6.3 Argentina: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.6.6.3.1 Argentina: Smart Ticketing Market Breakdown, by Component
10.6.6.3.2 Argentina: Smart Ticketing Market Breakdown, by Payment System
10.6.6.3.3 Argentina: Smart Ticketing Market Breakdown, by End User
10.6.6.4 Rest of South and Central America: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
10.6.6.4.1 Rest of South and Central America: Smart Ticketing Market Breakdown, by Component
10.6.6.4.2 Rest of South and Central America: Smart Ticketing Market Breakdown, by Payment System
10.6.6.4.3 Rest of South and Central America: Smart Ticketing Market Breakdown, by End User
11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
13. Company Profiles
13.1 Infineon Technologies AG
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 NXP Semiconductors NV
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Xerox Holdings Corp
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Cubic Corp
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 IDEMIA France SAS
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Giesecke Devrient GmbH
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Thales SA
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Confidex
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 HID Global Corp
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Siemens Energy AG
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
List of Tables
Table 1. Smart Ticketing Market Segmentation
Table 2. Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
Table 3. Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million) – by Component
Table 4. Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million) – by Payment System
Table 5. Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 6. North America: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 7. North America: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 8. North America: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 9. North America: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 10. United States: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 11. United States: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 12. United States: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 13. Canada: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 14. Canada: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 15. Canada: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 16. Mexico: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 17. Mexico: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 18. Mexico: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 19. Europe: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 20. Europe: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 21. Europe: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 22. Europe: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 23. United Kingdom: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 24. United Kingdom: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 25. United Kingdom: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 26. Germany: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 27. Germany: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 28. Germany: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 29. France: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 30. France: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 31. France: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 32. Italy: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 33. Italy: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 34. Italy: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 35. Russia: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 36. Russia: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 37. Russia: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 38. Rest of Europe: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 39. Rest of Europe: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 40. Rest of Europe: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 41. Asia Pacific: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 42. Asia Pacific: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 43. Asia Pacific: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 44. Asia Pacific: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 45. India: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 46. India: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 47. India: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 48. China: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 49. China: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 50. China: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 51. Japan: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 52. Japan: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 53. Japan: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 54. South Korea: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 55. South Korea: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 56. South Korea: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 57. Australia: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 58. Australia: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 59. Australia: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 60. Rest of APAC: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 61. Rest of APAC: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 62. Rest of APAC: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 63. Middle East and Africa: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 64. Middle East and Africa: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 65. Middle East and Africa: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 66. Middle East and Africa: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 67. Saudi Arabia: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 68. Saudi Arabia: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 69. Saudi Arabia: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 70. United Arab Emirates: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 71. United Arab Emirates: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 72. United Arab Emirates: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 73. South Africa: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 74. South Africa: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 75. South Africa: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 76. Rest of Middle East and Africa: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 77. Rest of Middle East and Africa: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 78. Rest of Middle East and Africa: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 79. South and Central America: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 80. South and Central America: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 81. South and Central America: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 82. South and Central America: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 83. Brazil: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 84. Brazil: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 85. Brazil: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 86. Argentina: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 87. Argentina: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 88. Argentina: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 89. Rest of South and Central America: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 90. Rest of South and Central America: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by Payment System
Table 91. Rest of South and Central America: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 92. List of Abbreviation
List of Figures
Figure 1. Smart Ticketing Market Segmentation, by Geography
Figure 2. PEST Analysis
Figure 3. Ecosystem: Smart Ticketing Market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Smart Ticketing Market Breakdown by Geography, 2023 and 2031 (%)
Figure 6. Smart Ticketing Market Revenue (US$ Million), 2021–2031
Figure 7. Smart Ticketing Market Share (%) – by Component (2023 and 2031)
Figure 8. Hardware: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
Figure 9. Software: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
Figure 10. Services: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
Figure 11. Smart Ticketing Market Share (%) – by Payment System (2023 and 2031)
Figure 12. Open Payment System: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
Figure 13. Smart Card: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
Figure 14. NFC: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
Figure 15. Smart Ticketing Market Share (%) – by End User (2023 and 2031)
Figure 16. Transportation: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
Figure 17. Sport and Entertainment: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
Figure 18. Parking: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
Figure 19. Others: Smart Ticketing Market – Revenue and Forecast to 2031 (US$ Million)
Figure 20. Smart Ticketing Market Breakdown by Region, 2023 and 2031 (%)
Figure 21. North America: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 22. North America: Smart Ticketing Market Breakdown, by Component (2023 and 2031)
Figure 23. North America: Smart Ticketing Market Breakdown, by Payment System (2023 and 2031)
Figure 24. North America: Smart Ticketing Market Breakdown, by End User (2023 and 2031)
Figure 25. North America: Smart Ticketing Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 26. United States: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 27. Canada: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 28. Mexico: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 29. Europe: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 30. Europe: Smart Ticketing Market Breakdown, by Component (2023 and 2031)
Figure 31. Europe: Smart Ticketing Market Breakdown, by Payment System (2023 and 2031)
Figure 32. Europe: Smart Ticketing Market Breakdown, by End User (2023 and 2031)
Figure 33. Europe: Smart Ticketing Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 34. United Kingdom: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 35. Germany: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 36. France: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 37. Italy: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 38. Russia: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 39. Rest of Europe: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 40. Asia Pacific: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 41. Asia Pacific: Smart Ticketing Market Breakdown, by Component (2023 and 2031)
Figure 42. Asia Pacific: Smart Ticketing Market Breakdown, by Payment System (2023 and 2031)
Figure 43. Asia Pacific: Smart Ticketing Market Breakdown, by End User (2023 and 2031)
Figure 44. Asia Pacific: Smart Ticketing Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 45. India: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 46. China: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 47. Japan: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 48. South Korea: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 49. Australia: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 50. Rest of APAC: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 51. Middle East and Africa: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 52. Middle East and Africa: Smart Ticketing Market Breakdown, by Component (2023 and 2031)
Figure 53. Middle East and Africa: Smart Ticketing Market Breakdown, by Payment System (2023 and 2031)
Figure 54. Middle East and Africa: Smart Ticketing Market Breakdown, by End User (2023 and 2031)
Figure 55. Middle East and Africa: Smart Ticketing Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 56. Saudi Arabia: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 57. United Arab Emirates: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 58. South Africa: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 59. Rest of Middle East and Africa: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 60. South and Central America: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 61. South and Central America: Smart Ticketing Market Breakdown, by Component (2023 and 2031)
Figure 62. South and Central America: Smart Ticketing Market Breakdown, by Payment System (2023 and 2031)
Figure 63. South and Central America: Smart Ticketing Market Breakdown, by End User (2023 and 2031)
Figure 64. South and Central America: Smart Ticketing Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 65. Brazil: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 66. Argentina: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 67. Rest of South and Central America: Smart Ticketing Market – Revenue and Forecast to 2031(US$ Million)
Figure 68. Heat Map Analysis by Key Players
Figure 69. Company Positioning & Concentration
The List of Companies - Smart Ticketing Market
Infineon Technologies AG
NXP Semiconductors
Xerox Corporation
Cubic Corporation
IDEMIA
HID Global Corporation (ASSA ABLOY)
CPI Card Group Inc.
Confidex Ltd.
Thales Group
Giesecke & Devrient GmbH
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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