Smart ticketing is mainly the ticketing system where tickets are stored electronically on a microchip instead of being issued on a paper. Most of the microchips, where the tickets are stored are mostly embedded in a smartcard. Thus, smart ticketing schemes are also called smartcard schemes. Smart ticketing is more efficient, fast, and also saves a lot of paperwork. Such ticketing system utilizes the governments’ ITSO specification for allowing seamless travel in various regions. Furthermore, smart ticketing also supports different modes of transportation.
Apart from the transport industry, smart ticketing is also highly adopted in entertainment, sports, BFSI, and healthcare. Rapid emergence of the technologies such as NFC, QR code, barcode, RFID, local wireless ticketing enables many smart ticketing companies in offering smart solutions to various industries.
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Going forward, the global smart ticketing market is expected to grow at a solid pace owing to the convenience it provides to the travelers.
Growing Tourism and Travel Industry Fuels Smart Ticketing Market Growth
Smart ticketing system is advantageous in the area of safety from fraud, reducing long queue, and providing passengers with pre-loaded ride travels. Such ticketing system provides flexibility in customizing tickets. Such USPs are driving the global smart ticketing market. Along with these, growing adoption of smart technologies, increasing travel industry, and rising user-friendly applications which are easily accessible are also fueling the growth in the global smart ticketing market.
Furthermore, governments are taking several approaches to encourage cashless transactions and adopt demonetization policies, which is further anticipated to propel the global smart ticketing market. Manufacturers in the smart ticketing market are integrating various smart technologies for increasing their customer base. However, increasing use of point-of-sale systems in shopping malls, and growing demand for e-tickets, e-kiosks, and e-tolls are also boosting the global smart ticketing market.
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