The “Global Mobile Ticketing Market, By Type (Mobile Ticketing Application, and SMS Mobile Ticketing), by Application (Travel Ticket (Airline Tickets, Railway Tickets, Bus Tickets, Others), Entertainment Tickets, Hotels Booking, Others), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Forecast to 2027”, is expected to exhibit a CAGR of 20.5% during the forecast period (2019-2027), as highlighted in a report published by Coherent Market Insights
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. Mobil 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.
The global mobile ticketing market was valued at US$ 1,234.6 Mn in terms of value in 2019 and is expected to grow at a CAGR of 20.5% during the forecast period.
Growing awareness towards paper conservation is expected to drive growth of the global mobile ticketing market during the forecast period
Increasing globalization has prompted enterprises to go digital and save paper. This, in turn, has compelled various companies to form their online portals instead of opting for paper or documentations. This trend has been adopted by ticketing companies and public transportation, hotels, movie theaters, and airlines. For instance, in 2018, the National Football League (NFL) decided to use mobile tickets only and halted the use of PDF or print-at-home tickets. These factors are expected to drive growth of the global mobile ticketing market during the forecast period.
Increasing preference for cashless transaction is expected to present excellent growth opportunity for market players in the near future
Due to convenient online transaction platforms, consumers are preferring cashless transactions. Online transaction plays a major role in mobile ticketing systems, which is expected to present lucrative business opportunity for mobile ticketing vendors in the near future. Moreover, availability of attractive offers on online transaction and availability of e-wallet is shifting preference of customers towards cashless transactions significantly, which in turn, is expected to provide major growth opportunity during the forecast period.
High setup costs required for mobile ticketing system is expected to restrain the global mobile ticketing market over the forecast period
Mobile ticketing system requires a centralized framework and a robust system that can dispense tickets automatically. Developing such high-end automated systems require high initial investment, which is averting various enterprises to adopt mobile ticketing systems. Hence, this factor is expected to hamper the global ticketing market during the forecast period.
Increasing use of mobile ticketing for sports events
Various major football stadiums in North America have adopted mobile ticketing options, allowing them to enter by flashing their e-tickets on smartphones. With stadium owners looking to increasingly utilize the latest technologies to improve the overall entertainment quotient and enhance attendee experience, mobile ticketing is rapidly gaining traction among organizers as well as end-users in countries in North America. Moreover, implementation of mobile ticketing can allow spectators to enter into the arena, access to foods and drinks services, act as an interactive device during play, and as security pass. After using the e-Ticket to access the grounds, users will be able to make direct purchases in the stadium from their phone, find their seats more easily with an interactive map, and order food directly to their seats. Furthermore, this option removes the long queues for tickets.
In China, technology companies such as Alibaba, Tencent, and Baidu are boosting the movie ticket sales online through strategic price wars, i.e. by offering competitive pricing and discounts on tickets. This has resulted in large volume of moviegoers adopting mobile ticketing options. Moreover, in India, popular events/movie booking applications, BookMyShow is fast gaining popularity as a major portion of urban population book tickets online. These companies provide lucrative discounts and add-on coupons to frequent customers and encourage new consumers to use these applications.
Key players involved in global mobile ticketing market are 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.
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.