According to global tech market advisory firm, ABI Research, the installed base of contactless ticketing smart cards will increase from 784 million in 2018 to over 1 billion in 2024. With increased rates of travel and widespread adoption of modern solutions, significant trends are beginning to develop in the contactless ticketing market.
“In regional terms, trends are developing in the way contactless ticketing solutions are being adopted,” said Sam Gazeley, Digital Security Analyst at ABI Research. “In Middle Eastern nations, there is a notable trend in the deployment of Account-Based Ticketing and mobile ticketing platforms, particularly across affluent areas, including the UAE and Saudi Arabia. In Asia, several contactless ticketing trials are taking place. QR codes have long existed in China as a means of digital payment, and are now being trialed on localized mass transit applications. China is looking to take advantage of WeChats “Ride Code” to launch a QR-based transportation payment system in Hong Kong by 2021. If this finds traction in other regions as well, there is the potential for an impact on the traditional closed-loop ticketing market.”
The significant growth in the total number of ticketing smart cards worldwide is underpinned by an identifiable migration from memory to microcontroller smart cards, due to the advantage of increased processing speed and higher levels of security. Total memory shipments are set to fall from 175 million in 2018 to 144 million in 2024 as part of the noticeable trend toward the microcontroller as ticketing solutions providers look to take advantage of the functionality benefits of the smarter chips. This is shown by strong predicted growth in the microcontroller market, with shipments rising from 240 million units in 2018 to 385 million in 2024.
Innovation in the market will be primarily driven by a handful of ticketing solutions providers, such as Gemalto, Paragon ID, IDEMIA and G+D, as countries step up their contactless ticketing systems. For example, transportation integrator Cubic Corporation is looking to pursue a pivotal project in Australia utilizing an open-loop system similar to the system in London. At the same time, the U.S. Department of Transportation is planning to implement new ticketing systems, including account-based ticketing, to provide commuters with a range of device options to use as their contactless ticket.
“The vendors that are already well-positioned and established within the contactless ticketing market, such as Gemalto, Paragon ID, IDEMIA, and G+D, are poised to take advantage of innovation in ticketing solutions, including mobile ticketing and account-based ticketing to drive higher revenues and decrease costs. The use of mobile ticketing can help vendors seize opportunities in areas of high smartphone penetration to improve convenience for travelers,” concluded Gazeley.
These findings are from ABI Research’s Contactless Ticketing Smart Card Technologies market data report. This report is part of the company’s Digital Security research service, which includes research, data, and analyst insights. Market Data spreadsheets are composed of deep data, market share analysis, and highly segmented, service-specific forecasts to provide detailed insight where opportunities lie.
About ABI Research
ABI Research provides strategic guidance to visionaries, delivering actionable intelligence on the transformative technologies that are dramatically reshaping industries, economies, and workforces across the world. ABI Research’s global team of analysts publish groundbreaking studies often years ahead of other technology advisory firms, empowering our clients to stay ahead of their markets and their competitors.
For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit www.abiresearch.com.
About ABI Research
ABI Research is a global technology intelligence firm delivering actionable research and strategic guidance to technology leaders, innovators, and decision makers around the world. Our research focuses on the transformative technologies that are dramatically reshaping industries, economies, and workforces today.
ABI Research提供开创性的研究和战略指导，帮助客户了解日新月异的技术。 自1990年以来，我们已与全球数百个领先的技术品牌，尖端公司，具有远见的政府机构以及创新的贸易团体建立了合作关系。 我们帮助客户创造真实的业务成果。
For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.
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