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Mobile Ticketing Market Key Players | Masabi Ltd,Gemalto N.V.,inmodo AB,Margento B.V.,ShowClix LLC,Rapidsoft Systems


Mobile Ticketing Market Key Players | Masabi Ltd,Gemalto N.V.,inmodo AB,Margento B.V.,ShowClix LLC,Rapidsoft Systems

Press Release

Rising proliferation of smartphones and other multimedia devices has incidentally relieved the world from ticketing hurdles. Lack of management, improper registration and booking delays will no longer be observed as challenges in the years to come. Worldwide acceptance of mobile ticketing services will ensure that travelling to places will become more hassle-free than before. Persistence Market Research’s latest publication delivers key insights on the future of mobile ticketing. According to the forecast report, the global market for mobile ticketing is expected to grow robustly, bringing in an estimated US$ 3,177.3 Mn in revenues by the end of 2024.

In the long run, the global demand for mobile ticketing is likely to gain traction across several applications. The report, titled “Mobile Ticketing Market: Global Industry Analysis and Forecast, 2016-2024,” estimates the US$ 677 Mn global market for mobile ticketing to grow at a stellar 21.3% CAGR towards the end of 2024. During this forecast period, the demand for mobile ticketing is expected to witness an upsurge across entertainment ticketing applications. In 2017 and beyond, seats for concerts, plays, and even movies, will be booked or ticketed through mobile ticketing services. Nevertheless, travel ticketing will remain the largest application of mobile ticketing in the world, procuring a little over 50% share on global revenues towards the end of 2024.

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Global Demand for SMS Mobile Ticketing to Witness a Downtrend

A major proportion of global mobile ticketing revenues comes from adoption of mobile ticketing applications for smartphones. Initially and even today, mobile ticketing services were facilitated through messaging services. However, limitations in SMS mobile ticketing have led to their decline in terms of global demand. Between 2016 and 2024, the global revenue share of SMS mobile ticketing is anticipated to drop with a loss of -386 BPS. People will remain more inclined towards mobile ticketing apps that offer a wide range of features and are developed with a focus on user-friendly applications. In the due course of forecast period, mobile ticketing applications are expected to bring in more than US$ 2,000 Mn in global revenues.

Due to a busy lifestyle, people don’t have sufficient time to physically travel to a certain location to book tickets for bus, train, airline, and movie or for any other recreational activity. In addition, due to increasing urbanization, several companies have established the provision of an online portal to book tickets or hotels through the internet in order to digitally transform operations. With an increasing focus on offering ease of accessibility and efficient services to customers, companies are gradually partnering with ticketing agents to create online portals for customers to easily log in at any place, anytime and make bookings online. This technological evolution is rapidly fueling the global mobile ticketing market.

In terms of value, the travel tickets segment is projected to be the most attractive segment by application in the global mobile ticketing market during the forecast period. However, the entertainment tickets segment is expected to register high Y-o-Y growth rates throughout the forecast period. In 2015, the travel ticket segment was valued at almost US$ 285 Mn and is expected to witness a steady growth in terms of revenue throughout the forecast period.

Masabi Ltd., inmodo AB, Margento B.V., Gemalto N.V., ShowClix Inc., Digital Management, Inc., Rapidsoft Systems, Inc., moovel Group GmbH, Scheidt & Bachmann GmbH, and AEP Ticketing Solutions Srl are companies observed as leaders in the global market for mobile ticketing. The report has also classified the global mobile ticketing market’s growth on the basis of several key regions in the world. The global mobile ticketing market is predicted to be witness higher contribution by regions – North America, Europe and Asia-Pacific. North America is presently dominating the market with more than one-third share in global revenues. But, towards the end of 2024, the region will lose out its dominance and Europe will emerge as the largest market for mobile ticketing in the world. The Asia-Pacific mobile ticketing market, on the other hand, will showcase fastest revenue growth at a CAGR of 25.1%.

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Mobile Ticketing Market : TOC

1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. Mobile Ticketing Market Overview

5. Global Mobile Ticketing Market Forecast, 2016-2024